PLAN for the worst, Hope for the Best

Discussion in 'Economics' started by tradingbug, Nov 15, 2008.

  1. The threat of a total Global Economic Collapse looks more and more probable.

    How are people preparing for the worst case scenario(depression, food riots, etc.)?

    Should we put money in Hard Gold or the ETF gold? If not gold, what other metals or commodites?

    Should I buy guns, tasers etc.

    Put all the money in the Yuan or what other currencies will benefit from the collapse.

    Store canned foods in case shit hits the fan?

    Get a high end security system?

    What hard assets are worth picking up and why?

    I have seen pictures of those food lines during the great depression....people of all ages waiting patiently for food. In this day and age, I dont see that type of patience/morality in todays society if it gets that bad. There would be more guns/knifes etc.

    Anyway, i would like to hear your thoughts on what is the best way to prepare for the worst.......while keeping fingers crossed and hoping for the best.

  2. lrm21


    When was the last time we had an total world wide economic collapse that caused riots, food shortages and anarchy, and where people who horded food, weapons, and gold came out on top?

    hmm lets see.....and end of world movies that hollywood has been producing for the last 80 years don't count.

    hmm..thinking.. oh i know.


    Life goes on.
  3. We are getting there fast!

    "NASA astronauts to drink their own urine today"
    CNET News - 9 hours ago
  4. Buy a couple acres of farmland, a few ounces of gold/silver and then no matter what happens, you will be hedged. Worst case scenerio for you, the end of the world doesnt happen and you can just sell your gold/silver and farmland for pretty much what you paid for it.
  5. Exactly. Argentina went bankrupt in 2002 and what happened ? Life went on. Of course standards of living dropped, but there was no 'war zone' where you had to defend your own food with riot guns :)

    Yep, also agreed. That's pretty much the best hedge against the worst 'doom and gloom' scenario.
  6. Actually, in Argentina, I think things did get somewhat ugly, it wasn't all-out war, but crime increased.

    This post from a guy in Argentina detailing what did happen from a personal perspective and what did help was very enlightening and useful:
  7. 'ya know what, in the great depression urban people were hit hardest and a lot more people were rural in those days and /or had gardens. Think of our inner cities when the free cheese runs out. Hell ya I'd have a gun, I'd be doing some gardening too, at the very least.
  8. Very interesting read, thanks for posting !
  9. I highly doubt it will get that bad. Anyway, Obama's new civilian national security force will take care of any uprisings.

    Having physical gold just seems so impractical....
  10. We arrived in Argentina in 2003 about a year after pesificación.

    It seems take take about a year for reality to set in and people come to realise that they must pick up their own lives and move ahead.
    This is true we feel after any major calamity.

    Pesificación hit some people harder than others.
    The middle class in BA were all but wiped out, the poor remained poor and the wealthy saw it all coming and had their cash out of the country ready to buy up the falling prices.

    In the provinces most people continued their daily lives, but the federal agencies such as education, health etc were badly wounded but people continued.

    We felt a lot safer in the streets five years ago than we do now.

    Pesificación gave the country the opportunity to start again with el campo (the farmers) in the driving seat and the growth has been amazing.

    With growth comes problems as everyone wants a share of the pie.

    Cash was king in '03 and remains so today with very little credit in the system. As banks offer credit, only a few take it up since cash rules supreme and there are no hidden surprises when your credit cards are balanced up every month.
    There is no trust in the banking system because of the gov's meddling hand.

    In order to decide whether you prefer a plastic society or a cash society you would need to experience both for a couple of years at least.

    Bearing in mind Argentina has had a dysfunctional political system for almost seventy years it is hard to compare it to the West.

    You need to draw your own conclusions

    #10     Nov 15, 2008