If you think this is the solution, you are the problem
“Sooner or later, you run out of other people’s money. Something that can’t go on forever, won’t. Debt that can’t be repaid, won’t be. Promises that can’t be kept, won’t be.”
— Professor Glenn Reynolds
Everybody who knows anything about economics — that is to say, everybody who isn’t a liberal — is concerned about the Federal Reserve’s policy of deliberate inflation: Devaluing the dollar as a monetary solution to the nation’s underlying fiscal and economic problems. There is no real recovery, and no end in sight to deficits so, hey, let’s just print a lot of paper. It’s as logical as the Magic Trillion-Dollar Platinum Coin.
This unsustainable zero-interest policy began during the Bush administration and has been continued for nearly five years. How long before the inevitable Day of Reckoning? We don’t know. What will that monetary Day of Reckoning look like? Mike Rogers has a few thoughts:
It can’t happen here; We’re too big (to fail?); The whole world wants Dollars; We could never become The Weimar Republic/ Zimbabwe/ Greece/ 1960s Britain … After all, OUR financial wizards are too smart to let that happen!
Not so much! Just because Ron Paul has been telling us for a long time that the Federal Reserve was bad for us, doesn’t mean he’s wrong. Let’s check a few bullet points, and then I’ll explain why the warning signals are flashing a little more urgently these days . . .
Please read the whole thing. Don’t say you weren’t warned: Buy gold — a bargain today at $1,667 an ounce — and stockpile ammunition.
Or for those of us who can’t afford Gold, buy Silver and ammunition…if you can find it.
It better last before I go on any vacations overseas…or I might find myself at a standard I am less accustomed to.
Should I drain my IRA and pay off the mortgage? At least I’ll have something after inflation begins to skyrocket. Comments?
I’ve been trying to stockpile ammo. It’s not available, except in uncommon calibers. No .22LR, no .40 S&W, no .223, and no 5.56. Trips to two different Cabela’s, and two other gun stores have yielded the same result. Within two day’s of Obama’s unconstitutional list of infringements, they were all gone.
One store owner told me that a site where stores order stock, the typical, ready-to-ship supply of handguns hovers around 11,000 or so, from all different manufacturers, and includes “custom” and “collector” pieces that cost several times the usual amount.
In his recent attempt to order more stock, he was told they had about 40 handguns available to ship. Not 40 cases, not 40 pallets. 40 individual handguns.
I’ve seen some online sites saying they expect the ammo situation, at least for some calibers, to open up by March…FWIW.
Yeah. They must still be making it, at least.
You forgot to advise your readers to buy a scary gun too. An AR-15 would be nice. I’d recommend a Daewoo DR-200, a much better piece, but Kimber quit selling them for some reason.
The four to have are an AR-15, Mossberg 500 Shotgun (milspec), M1911 A1 in .45 ACP, Savage 110FP in .308. They all look very scary to a lawless moonbat.
FWIW, my local Plano gun range has things like this — subject to a 2 box limit and using a firing lane.
The Cabelas in Allen TX had some 9mm this past Monday, subject to a 5 box limit and about $17 for 50 rounds. I still snagged a couple of boxes.
I am seriously considering doing this with my 401k. The only problem will be still paying the property taxes.
You can get real hot sauce in Texas, too. Everywhere else, if it says “Hot” would be like “Mild” in Texas.
Remember, though, that gold hasn’t added value so much as the dollar has lost value.
You could have bought that $1,667 ounce of gold 10 years ago for around $360. Or you could have bought 60 shares of Netflix that would now be worth around $10,173.
As for that “stockpile” of ammunition, if you shoot it off, and we both know you’re going to, you’ve got nothing but spent brass.
Or you could have bought 50 shares of Apple 10 years ago that wold be worth $21,994 today, even after the big dip this week.
So invest in reloading gear and supplies too.
A word to newer readers on Stacy’s Investment Advice: he was also touting gold at its peak of $1925 a couple of years back. Had you heeded his advice then, you would be down 13.4% today.
It could go up, it could go down – as with any commodity, anyone who can forecast its movement with at least 51% accuracy is so stinking rich they don’t need to rattle tip jars. Be advised.
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Thanks! I’ve been worried about the currency for a long time, and there’s been an interesting convergence of articles which may indicate we’re approaching a tipping point.
I hope not, but beware, prepare.
Which is one reason why silver is popular.
On the other hand, we can never know quite what governments are doing to mess with the price of commodities. The one sure thing is that currencies will go down over time.