Europe is about to implode!

Ecomike

Ecomike

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ammo, fuel, and canned goods are what I'd invest in right now... if I was going to invest.

as it is, I am going to simply continue to lessen my everyday reliance on other people. Just bought a woodstove, rebuilding/reinsulating the house, building a generator (been without power for 2 days already this year due to the number of storms we've been getting), already have a truck that'll run on anything and go anywhere. Food and water will be about it. Oh, and paying my taxes.

I aim to reduce my financial requirements to the point that in the event of a financial crisis, I can make enough doing odd jobs every day to buy myself food. If there's hyperinflation my remaining debts (and savings for that matter) will be basically wiped out, if there is deflation I have enough to pay off my loans in my savings account right now.

Personally I am hoping for deflation, if we have to go one way or the other. It'd be nice for this big jar of change I have to actually be worth something.
 
XJEEPER said:
That's what I thought you meant......Ramsey would agree as well.
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Yes, Yes he would.. Look at the pump and soon to be dump on the market today.. All based on the crap that Europe has pulled it out (world just hasn't realized it's just for now)...


themud
ps if they want to give me more time to prepare that's fine with me.. kick that can a few more times..
 
kastein said:
ammo, fuel, and canned goods are what I'd invest in right now... if I was going to invest.

as it is, I am going to simply continue to lessen my everyday reliance on other people. Just bought a woodstove, rebuilding/reinsulating the house, building a generator (been without power for 2 days already this year due to the number of storms we've been getting), already have a truck that'll run on anything and go anywhere. Food and water will be about it. Oh, and paying my taxes.
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You forgot water purification system.
 
kastein said:
It'd be nice for this big jar of change I have to actually be worth something.
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acquire nickels.
as it is a nickel is worth about 8 cents in scrap.

the mint will stop making cupro nickel alloy nickels first of the year, and go to zinc alloy clad nickels.

so, as the cost of nickel alloy goes up, so the old nickels become worth more than their face value.

now's the time to do it, because all nickels are made of nickel alloy, after the first of the year you'll have to start checking dates.
 
Interesting idea. I had forgotten that nickels are a 75/25 alloy of copper and nickel (or nickel and copper, forget which.) Probably get nailed real fast for defacing currency though.

EDIT: bounced this idea off a friend of mine who is pretty metals savvy (and made 160% on precious metals over the last two years... and is now completely withdrawn from gold) and he notes that http://www.coinflation.com/coins/1946-2007-Jefferson-Nickel-Value.html lists the melt value of a nickel at 4.9 cents.
 
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kastein said:
Interesting idea. I had forgotten that nickels are a 75/25 alloy of copper and nickel (or nickel and copper, forget which.) Probably get nailed real fast for defacing currency though.

EDIT: bounced this idea off a friend of mine who is pretty metals savvy (and made 160% on precious metals over the last two years... and is now completely withdrawn from gold) and he notes that http://www.coinflation.com/coins/1946-2007-Jefferson-Nickel-Value.html lists the melt value of a nickel at 4.9 cents.
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it's gone down then since I last looked at it.
For a while there it was about 8 cents.

regardless I value lead and blued steel very highly, and as such have already made my investment.
 
Anyone think we will see the royal palace being looted and burning? Not that I wish for anything but that will be the first place people will want to lash out at I am sure.
 
iwannadie said:
Anyone think we will see the royal palace being looted and burning? Not that I wish for anything but that will be the first place people will want to lash out at I am sure.
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The royal family has no power and the people know it. Parliament holds the power.
 
And now, the USA is looking to bail out Europe:

In light of this gloomy outlook, on Wednesday the Fed announced a new concerted action with the European Central Bank, the Bank of Japan, the Swiss National Bank, the Bank of England and the Bank of Canada in an effort to increase the flow of cash into Europe.

“The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity,” a joint statement issued by the six behemoths noted.

Yet while these new measures will increase short-term liquidity, they do absolutely nothing to address the long-term solvency issue.

Basically, America and these other global financial institutions are printing dollars in an effort to buy time (which is why this move further weakens the value of our currency).

http://www.fitsnews.com/2011/11/30/european-bailout-rally/
 
You left one out. Central Bank of China loosened the reserve requirements of China banks as well, for the first time in 3 years today. When all the major central banks do this at once, you know that something scared the hell out them, finally!!!

This has happened only once before, shortly after the markets crashed in 2008, after Lehmans Brothers went belly up.
 
And when a decent portion of said banks are broke themselves....

Why are we sending money we don't have to Europe who also has no money? It boggles the mind!
 
Darky said:
And when a decent portion of said banks are broke themselves....

Why are we sending money we don't have to Europe who also has no money? It boggles the mind!
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reminds me of 3 card Monte... Only the drawbacks are everyone loses except for a few who are playing both angles and not using their own money..


themud
 
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