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Fiat paper currency has always, always gone to zero value throughout history. The average life time of a fiat currency is about 40 years. Find me an example which contradicts this.
Gold and silver in 5000 years have NEVER gone to zero because they are real money.The dollar and the pound sterling have been the only fiat currencies which attained the status of a world currency so their life spans may exceed the average 40 years. But by how many years? Once empire goes, the paper funny money goes as well.
[quote=”DavidCMurray”]Now wait a minute, Les! If sprite is going to unload all her dollars, I want in on the action. I don’t care if she doesn’t think they have value. Somebody will and I want to be there when they do.
Sheesh! Don’t hog it all!
[/quote]I unload dollars for silver. Got any silver you want to trade for $30 an ounce? You know, at one time, a dollar bill was worth one ounce of silver. What has happened to the dollar bill?
waggoneer
what your saying regarding Sprite handing over his money is just as silly
what Sprite is saying keeping your long term assets in fiat dollars currency is the problem.
do you have your wealth assets in dollars??? I would hope NOT. as I recall your getting SS or maybe a pension.
if this is your only long term strategy than you should be nervous.
we have now actual towns and communities in the U.S. that are coming up with their own currency. you need to google this.
http://money.cnn.com/2012/01/17/pf/local_currency/index.htm
you also have business also accepting euros and other forms of currency for purchases.
give it some time and you will see the almighty dollar become less and less.
Life is very different between the W-2 person that worked for a company all his life and now receives a social security and pension
as opposed to a businessman that was more in control in his day to day wealth growth and preservation.
they see the world with 2 different sets of glasses
NOTE: I am not saying either one is bad. just making a point.
David
PS. in 15 years I have seen the faith in the dollars change dramatically here. I remember dollars were pretty much accepted everywhere here. it was like wow!!! dollars
fast forward now.. i find more and more people NOT accepting or NOT preferring dollars here. this has been my personal observation.
PPS. just wait until a crisis occurs.. like the dollar NOT being the oil currency and it will be part of a larger basket of currency’s.
lots of things are going on and sadly it spears to be intentional.
This is like watching a ping-pong match:)watch it if you are buying coins those premiums will eat into your ammo budget.
A “newbie” on scene here, but I could not help but get drawn into the discussion here, if I may offer my 2 cents (pun intended)…..I think waggonner and David are both correct and wrong in their points. I agree that the value of the dollar is only worth what the receiving party deems it is worth, example, exchange rates worldwide, some countries give what equate to $1.50 worth og goods for $1.00, while others give $.50 for $1.00 (all in equal to USD demoninations).
And David has a valid point on the devaluation of the USD (I too share the opinion that the USD is in decline). The scary part of the decline of the USD is what is driving the decline? My take is the overwhelming debt the country has taken on. When the government benefit takers out number the revenue producers (tax revenue), then there is a major issue developing. This brings on a whole new set of solcial problems, division, raise in crime, and possible riots.
I am exploring the reality of moving to CR, albeit I am far from retirement age, but I may have a plan to keep gainful employment which may only require a few trips to Fla a month. The reasoning is the same reasons David mentioned, the decline across all fronts of the US, economy, solcial, ect.
[quote=”*Lotus”]This is like watching a ping-pong match:)watch it if you are buying coins those premiums will eat into your ammo budget.[/quote]
Lotus brings up another important point although tangentially … (Is that even a word?)
Unless you take steps to protect your gold and silver coins – and by that I mean that you and your property are well armed and you know how to use those weapons – to protect your gold and silver, surely it will be difficult for you to hold onto them, no?
It’s the same for land… You read these articles about how farmland is the best investment in tough times…
Well yeah! But again in the event of an armageddon type breakdown which is what these “preppers” are preparing for, if you have 50 acres of prime farmland and there’s a town of 50,000 starving hungry citizens nearby, what chance do you stand?
Scott
Scott,
Point taken on the security, but as I have learned in my travels to (more) undeveloped countries, those that have little will fare better than those that have much. Most places I have been, (roughly 20 countries), I am amazed at the resourcfulness of the people. I know people that don’t have 2 pots to bang together who are happier and eat very well based on their ability to produce and provide.
I would spectulate that people living in CR would be in a much better position to “survive” given an economic collaspe than 95% of the Americans living here in Fla. I hope to join the ranks of the fine people of CR very soon.
very true kwhite1:
what we call POOR countries leve completely different from us in the USA. I know families that live with a $1,000.00 a month income in Costa Rica just because of the safety net of their extended families.
My wife has 6 other brothers and sisters and the meals for the Holidays are extravagant. Everybody brings in a meal or all those ingredients to make one and everyone is supposed to bring according to their financial input.
they all enjoy the food equaly even if 1 member gave $100.00 and another $10.00 and both eat the same food regardless of the amount invested.
don’t ask me what I have to give but I am in their EYES one of the 1%, LOL
the young ones eat first then the teenagers and then the women at last the men
all this time the kitchen is a whilwind of activity besides the cooking you have the partial cleaning
PS: what does this have to do with Gold and Silver?? ABSOLUTELY NOTHING
The Washington Post (I believe) floated the idea over the weekend that the solution to this year’s budget could be found in a loophole of the Federal Laws regarding currency. Obama could sidestep funding a $2 trillion budget shortfall by minting 2 platinum coins with a placed value of $1 trillion dollars each. Just deposit the 2 coins with the Federal Reserve and presto-chango–no deficit. Genius!
If things remain this easy, perhaps the mythical Obama Budget can be finally enacted, and maybe we don’t have to do this “ugly redistribution of wealth”.[/quote]
It used to be that the dollar was backed by gold. Ah well.
So, why gold/silver etc? Metals have value because you can make things that last from them. They have industrial (and other) uses. They are elements and don’t degrade (at least not in terms of human years.)
Paper money, on the other hand, makes a pretty fire.
Sounds great, I will donate the 2 ounces to the fed to stamp to wipe out the debt, this in turn has consequices (spelling), metal prices across the board will skyrocket 1000%, which is good with me. It still does not address the 2 trillion $ deficit, only reallocates the metal pricing, which I said is good with me. That means my minimal silver stash willbe worth Bill Gates money. I will donate the 2 ounces of platinum to the fed to do this. Then my move CR will happen immediatley!
In regards to what countries will do better in an systemic collapse, I have my doubts about countries like Costa Rica etc. Sure the peoples are resourceful and can live well on very little. But in the Armageddon scenario I believe that the corrupt elements would seize power in the chaos that would result with no military to enforce marshal law, “keep the peace” so to speak. We have seen this happen in many countries after a systemic collapse of government or financial markets.
I am not saying the USA will be a pleasant place to be, but our strong, well organized/armed military/law enforcement will be able control the chaos. Americans are resourceful people as well and the majority don’t live in big cities like Miami, NYC, LA, Chicago etc places I would not want to be. But rural parts of the US will fair much better. We also produce a great deal of food and have a fairly good (yet ageing) infrastructure.
If I believed any of this could happen (which I really don’t, just playing along) I think the large nations will do just fine relatively speaking. There will be no controls in Costa Rica, the “bad” elements, gangs etc will have no one to interfere with their activities.
A lot of tough talk on here, but when confronted by a roaming gang on your farm in CR with zero law enforcement to back you up? We’ll see how you do with your guns. Hoping we never have to find out:)
You make it sound as though there are police out in the country side already. Here on the beaches of Guanacaste there is very little if any police presence. Plus they are empowered to do very little. I believe I am on my own at all times with only my neighbors and friends to call on. Kinda like the old days, huh! Be vigilant my friends.
Yes. But there currently is no systemic global collapse. What % of fuel,food,meds etc does cr import? All is well for me as I sit on the beach in south Florida at the moment too.:D
[quote=”*Lotus”]In regards to what countries will do better in an systemic collapse, I have my doubts about countries like Costa Rica etc. Sure the peoples are resourceful and can live well on very little. But in the Armageddon scenario I believe that the corrupt elements would seize power in the chaos that would result with no military to enforce marshal law, “keep the peace” so to speak. We have seen this happen in many countries after a systemic collapse of government or financial markets.
I am not saying the USA will be a pleasant place to be, but our strong, well organized/armed military/law enforcement will be able control the chaos. Americans are resourceful people as well and the majority don’t live in big cities like Miami, NYC, LA, Chicago etc places I would not want to be. But rural parts of the US will fair much better. We also produce a great deal of food and have a fairly good (yet ageing) infrastructure.
If I believed any of this could happen (which I really don’t, just playing along) I think the large nations will do just fine relatively speaking. There will be no controls in Costa Rica, the “bad” elements, gangs etc will have no one to interfere with their activities.
A lot of tough talk on here, but when confronted by a roaming gang on your farm in CR with zero law enforcement to back you up? We’ll see how you do with your guns. Hoping we never have to find out:)[/quote]
what makes you think we in costa rica have law enforcement back up??? :D:D:D:D:D:D
the police here come after the crime is committed to fill out paperwork.
you do NOT have roving gangs here and my original point is the majority of the population have some sort of agriculture skills and you add the fact of mild climate year round I have grown vegetables here just throwing seeds on the ground.
I am well armed and live in a community of also well armed neighbors so we can protect our selves if need be.
I think costa rica is very well prepared than the U.S. because most of the people here live on alot less with virtually NO GOVERMENT ENTITLEMENTS
this is the key words here.
so there are NO
food stamps money
welfare checks
unemployment benes for 99 weeks
etcyou watch when the entitlements stop coming back in the states and you will have civil unrest my friend.
add to the mix that the U.S is one of the most violent countries in the world.
its a time bomb waiting to happen.
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