regarding the worst case scenario and gold, it will essentially be a barter system with gold as a commodity just like everything else but serving a second role as currency. You better work on your negotiating skills before that day hits us. These threads make me think actually, I never saw much reason to associate negotiating skills with a "Mad Max" scenario but dang... I am an awful negotiator when I am not negotiating from a position of strength, I'm putting that on my list of "montessori projects". We gotta have these little talks more often, they help me.... to.... to .... to do what?
Stock pile guns and bullets, and there's your position of strength. Hey seriously, if you want to learn negotiating skills collect something like coins, comics, baseball cards, etc., and go to shows. Then start buying, selling, and trading. Been to a lot of those shows and felt that adrenaline rush...got in there and started trading like crazy and then late in the day wondered why I felt weak until I realized I forgot to eat because I was so focused. I want to introduce my kids to it. The few hundred I may have lost while learning these skills was more than made up for in car and home purchases. Negotiating skills are underrated. SM
For me it was more about rare coins and comics. Don't tease about the comics because if you look at the rates of returns on truly rare comics, it is eye-opening. Back in the 90's when I was young and crazy there were many times where I made several hundred flipping a single comic book. But yes, the trading and negotiating can be tough and its more fun than you might think. There is just something about eye-to-eye buying and selling that you can't get by pointing and clicking. Anyway, a great way to sharpen your negotiating skills on the cheap. SM
The best way to keep yourself from inflation is to purchase the houses or land. Go and find the good place to live and build up the fancy nice house as you can. ^^ Good luck.
buy farmland in windy areas,hilltops,and rent out to windmill power companies,or flatland for farming,we can replace oil but no substitute for food,limited farmland ,increasing world population means supply demand curve in favor of cropland,buy into college funds now so you wont have to remortgage when kids hit college
That's also a good point. We need to find out several ways to protect your money from inflation. My mom had college funds for my brother and me so that I didn't worry about the expenses of college things.
For thousands of years, one ounce of gold was enough to buy a decent suit and a pair of shoes, from the Roman centurions until today. All the gold one person can carry in two hands is enough to buy a house on a plot of land, even today. While it is certainly not a perfect store of value, the evil yellow metal has fulfilled the purpose of "money" far better than any other currency throughout recorded history. EVERY fiat/paper currency has eventually ended up worthless. Why should the almighty USD be any different?
As soon as I would buy a large gold position, some kid would post instructions for turning lead into gold on http://www.hackaday.com/ prolly using an old microwave oven, a cheesegrater, a rubber boot, and an iPod. Gold would go to thirty bucks a pound...
hyper inflation scares the shit out of me. Im always in cash because I trade every dime I can get my hands on. So I cant use my capital to buy other things as a hedge.