keep as little as necessary in emergency funds the rest should be an asset classes, never savings/checking/moneymarket.
I keep most of my savings in primers, powder, brass and lead, although I did invest several thousand dollars in rice, wheat and beans this year, all of which have gained substantially against the dollar
Got a question about that. What would be better: paying off your house payments or invest your money in something else ? What would be safer? Also what would be safer to invest in, real estate or stocks or maybe crypto?
IMO debt is always wage/banking servitude. Reducing and eliminating debt thereby freeing your earnings from systemic confiscation is always a best idea.
Invest in your own life skills and wealth preservation as is possible. Real estate may appreciate on paper but it can also be an illiquid property tax and insurance trap that can drain your resources. Guns are always a good investment.
For the little guy treading water, I don't know that there are 'safe investments' these days; some local/national/global entity is gaming to steal the wealth of your labor somewhere down the line. We're on our own here while the globalists are looking to create systems to drain the wealth of the people into their own coffers. Everything is a risk.
I thought the same thing at first, however i listened to a podcast which changed my mind - if my home interest rate is at 3.2 APR and the REAL inflation rate is at 10% i would be saving 6.8%.
Look up the richest man in Germany - Hugo Stinnes. He took out MASSIVE debts on hard assets before hyperinflation set in. Paid back said debts in FULL after their \value went to crap.
I think healthy FIXED APR productive debt on assets is a great idea. Agree with everything else mentioned, skills, and hard assets. Anything is better than the dollar
To be fair, if you are millions in debt on your home, the bank gets jack diddly squat if the dollar crashes. "Sure. Here's my 5mill debt repayment, now worth just enough to buy a loaf of bread."
I think u/BigOT is being way too dramatic. The collapse isn't coming this year.
You need to keep having federal reserve notes, and even using your card, for a while. Some amount of money needs to be kept in cash even though you're loosing purchasing power in it, just so that you can spend it.
I got my own pile of metals, but there's no way I'm emptying the entirety of my checking account. I can't actually spend gold/silver at the gas station yet, so there's no point.
I don't think you need to be investing in beans. You should have it, but BigOT seems like he built a bunker and is living in Far Cry 5.
/u/ThatYellowBastard is probably right: paying off your debt is actually a good idea under inflation. That's actually what the purpose of inflation is. The government prints money to pay it's debts, and hands all of it's creditors monopoly money. They're basically stealing from creditors and laughing. You basically have to do the same thing (because there's no choice). As your wages increase (because everything will increase) your debts will not, and it will make it easier to pay off your debts.
As u/APDsmith said, I'm investing in bullion. I have a little bit of gold & silver. I've actually purchased "constitutional silver" which is more likely to be used as a mechanism of exchange if necessary.
I think crypto is a good investment, but I don't know which one. The reason I'm not investing in crypto is because I expect it to be criminalized. Whether or not that's enforced, I don't really know. I should probably get a secure wallet, but I don't really know how to do any of that, and it seems very confusing. Frankly, I have to get over my confusion, but I need time to learn what the hell I'm doing.
I'm not investing in real-estate. I think the market is in a bubble, and this is definitely part of why everyone in the housing industry seems so happy. Trillions of dollars are coming in. Not even from banks, but genuinely from boomers and home purchasers. There's a huge supply shortage. Meanwhile, housing developers in China are imploding. The banks aren't buying up homes, they don't need to: they own your mortgage backed securities, so you're paying all the interest on your mortgage to them anyway. It's free money to them (and why you should be paying off your debts with inflated currency). Honestly, I'd wait a few years before buying property. Once the housing prices come down, they'll come down harder than anyone will believe. I wouldn't buy a house until I'm sure we're at a trough. Land could work though... I just can't realistically buy any.
Buying stocks is just a game of musical chairs at this point, tbh. I'm not going to risk the stock market because I don't know when it's going to collapse for sure (unless I'm going to short-sell Bank of America).
/u/xleb2 isn't wrong about investing in guns and ammo. Hilariously, the value of guns has kept up with inflation quite well, even over 30 years. You're not going to make a profit off of just buying guns, but you're probably not going to lose much money. As long as there's no confiscation in your area, you're probably good buying pistols, rifles, and shotguns, even if you don't have ammo to use them, simply as a hedge on investment.
If you are concerned about confiscations, a lot of gold retailers are now selling 24 carrot gold jewelry. Women's jewelry has, for political reasons, always been the last thing a government chooses to confiscate. Even the National Socialists and Fascists were already at war before they confiscated women's jewelry. I think even Italy only went as far as promoting an exchange program where they would give back steel jewelry as "thanks for supporting the war". There's an obvious mark-up on this so it's not the greatest investment in the world. However, I don't think it's a bad idea to have some as a kind of "monetary fire extinguisher". I have a fire extinguisher in my house for the same reason I would get gold jewelry. In case of dire fucking emergency, you might absolutely need it. Even when the US ordered the turning in of gold bullion, they never confiscated women's jewelry. No western nation or democracy ever has.
On a similar position, I have plenty of firewood. I've even bought a bit of copper. Copper is a bad investment. It's another fire extinguisher. Just assume the money you spend on copper is lost (just like every consumer electronic device you have, and 80% of your steam games). However, poor people already know the value of copper, so some 5 oz copper rounds would still work as a method of exchange among poor people in the same way several large packs cigarettes would. Poor people also know the value of aluminum cans. It's why hobos gather up beer cans after college kids binge drink on Friday & Saturday night.
I'm personally holding on to my current debt. With inflation, it should be easier to pay off, but I can also see an argument for paying it off. If not though, I'd turn around and invest in real estate, in particular, land. Farmable land with a house with utilities is even better.
Also tradable commodities, like bottled water, canned and long storage food, alcohol, batteries, fuels, antiseptic, medicines, quick clotting agent, bleach and chlorine for water purification etc.
I'd also take most of your savings out of the bank in the event a blackout or hack makes use of e-payments impossible.
Admittedly I do have some crypto, and it's done really well these last two months, but I've always said, don't put in more than you're willing to lose. So like $50 every week between Saturday night to Monday night when crypto markets normally dip.
I’ve read that depending on the debt, they have provisions built in where depending on how much inflation happened they can adjust the debt accordingly. This is what someone on here told me.
I didn’t look into it too deep because I’m just in overdrive right now to pay off my debt. But if you plan to hold it you might want to look into it.
I wouldn't do stocks. NYSE might become insolvent at some point. For real estate it depends, the main risk is how property ownership is gonna work in the future. Maybe it gets seized, maybe not. Crypto is also risky since if it gets criminalized, or the internet goes down, it will go down by a lot.
Also it depends on your living situation. If you live in a city or don't own your own property I'd probably do crypto since you can keep it in a brainwallet. If you own a house in a red state then I'd probably just buy gold or collectibles (such as vintage video games) since those will likely retain their value longterm
keep as little as necessary in emergency funds the rest should be an asset classes, never savings/checking/moneymarket.
I keep most of my savings in primers, powder, brass and lead, although I did invest several thousand dollars in rice, wheat and beans this year, all of which have gained substantially against the dollar
Got a question about that. What would be better: paying off your house payments or invest your money in something else ? What would be safer? Also what would be safer to invest in, real estate or stocks or maybe crypto?
IMO debt is always wage/banking servitude. Reducing and eliminating debt thereby freeing your earnings from systemic confiscation is always a best idea.
Invest in your own life skills and wealth preservation as is possible. Real estate may appreciate on paper but it can also be an illiquid property tax and insurance trap that can drain your resources. Guns are always a good investment.
For the little guy treading water, I don't know that there are 'safe investments' these days; some local/national/global entity is gaming to steal the wealth of your labor somewhere down the line. We're on our own here while the globalists are looking to create systems to drain the wealth of the people into their own coffers. Everything is a risk.
I thought the same thing at first, however i listened to a podcast which changed my mind - if my home interest rate is at 3.2 APR and the REAL inflation rate is at 10% i would be saving 6.8%.
Look up the richest man in Germany - Hugo Stinnes. He took out MASSIVE debts on hard assets before hyperinflation set in. Paid back said debts in FULL after their \value went to crap.
I think healthy FIXED APR productive debt on assets is a great idea. Agree with everything else mentioned, skills, and hard assets. Anything is better than the dollar
I don't have any, was going to buy some years ago but never got around to it, that is fiat swiss francs. Actual paper currency.
As long as the notes themselves remain in print and are exchangeable, swiss francs have held up well as a currency over a long period of time.
I always envisioned having a shoebox of swiss francs. Never got there.
To be fair, if you are millions in debt on your home, the bank gets jack diddly squat if the dollar crashes. "Sure. Here's my 5mill debt repayment, now worth just enough to buy a loaf of bread."
I think u/BigOT is being way too dramatic. The collapse isn't coming this year.
You need to keep having federal reserve notes, and even using your card, for a while. Some amount of money needs to be kept in cash even though you're loosing purchasing power in it, just so that you can spend it.
I got my own pile of metals, but there's no way I'm emptying the entirety of my checking account. I can't actually spend gold/silver at the gas station yet, so there's no point.
I don't think you need to be investing in beans. You should have it, but BigOT seems like he built a bunker and is living in Far Cry 5.
/u/ThatYellowBastard is probably right: paying off your debt is actually a good idea under inflation. That's actually what the purpose of inflation is. The government prints money to pay it's debts, and hands all of it's creditors monopoly money. They're basically stealing from creditors and laughing. You basically have to do the same thing (because there's no choice). As your wages increase (because everything will increase) your debts will not, and it will make it easier to pay off your debts.
As u/APDsmith said, I'm investing in bullion. I have a little bit of gold & silver. I've actually purchased "constitutional silver" which is more likely to be used as a mechanism of exchange if necessary.
I think crypto is a good investment, but I don't know which one. The reason I'm not investing in crypto is because I expect it to be criminalized. Whether or not that's enforced, I don't really know. I should probably get a secure wallet, but I don't really know how to do any of that, and it seems very confusing. Frankly, I have to get over my confusion, but I need time to learn what the hell I'm doing.
I'm not investing in real-estate. I think the market is in a bubble, and this is definitely part of why everyone in the housing industry seems so happy. Trillions of dollars are coming in. Not even from banks, but genuinely from boomers and home purchasers. There's a huge supply shortage. Meanwhile, housing developers in China are imploding. The banks aren't buying up homes, they don't need to: they own your mortgage backed securities, so you're paying all the interest on your mortgage to them anyway. It's free money to them (and why you should be paying off your debts with inflated currency). Honestly, I'd wait a few years before buying property. Once the housing prices come down, they'll come down harder than anyone will believe. I wouldn't buy a house until I'm sure we're at a trough. Land could work though... I just can't realistically buy any.
Buying stocks is just a game of musical chairs at this point, tbh. I'm not going to risk the stock market because I don't know when it's going to collapse for sure (unless I'm going to short-sell Bank of America).
/u/xleb2 isn't wrong about investing in guns and ammo. Hilariously, the value of guns has kept up with inflation quite well, even over 30 years. You're not going to make a profit off of just buying guns, but you're probably not going to lose much money. As long as there's no confiscation in your area, you're probably good buying pistols, rifles, and shotguns, even if you don't have ammo to use them, simply as a hedge on investment.
If you are concerned about confiscations, a lot of gold retailers are now selling 24 carrot gold jewelry. Women's jewelry has, for political reasons, always been the last thing a government chooses to confiscate. Even the National Socialists and Fascists were already at war before they confiscated women's jewelry. I think even Italy only went as far as promoting an exchange program where they would give back steel jewelry as "thanks for supporting the war". There's an obvious mark-up on this so it's not the greatest investment in the world. However, I don't think it's a bad idea to have some as a kind of "monetary fire extinguisher". I have a fire extinguisher in my house for the same reason I would get gold jewelry. In case of dire fucking emergency, you might absolutely need it. Even when the US ordered the turning in of gold bullion, they never confiscated women's jewelry. No western nation or democracy ever has.
On a similar position, I have plenty of firewood. I've even bought a bit of copper. Copper is a bad investment. It's another fire extinguisher. Just assume the money you spend on copper is lost (just like every consumer electronic device you have, and 80% of your steam games). However, poor people already know the value of copper, so some 5 oz copper rounds would still work as a method of exchange among poor people in the same way several large packs cigarettes would. Poor people also know the value of aluminum cans. It's why hobos gather up beer cans after college kids binge drink on Friday & Saturday night.
I know Giz holds to purchase of precious metals ... gold and silver are still gold and silver, no matter what happens to the dollar.
until you get a roosevelt that comes and collects whats yours
Well, you have to diversify. Precious metals are best diversified with non-precious metals, specifically brass and lead.
Can one have a boating accident with gold bullion?
I'm personally holding on to my current debt. With inflation, it should be easier to pay off, but I can also see an argument for paying it off. If not though, I'd turn around and invest in real estate, in particular, land. Farmable land with a house with utilities is even better.
Also tradable commodities, like bottled water, canned and long storage food, alcohol, batteries, fuels, antiseptic, medicines, quick clotting agent, bleach and chlorine for water purification etc.
I'd also take most of your savings out of the bank in the event a blackout or hack makes use of e-payments impossible.
Admittedly I do have some crypto, and it's done really well these last two months, but I've always said, don't put in more than you're willing to lose. So like $50 every week between Saturday night to Monday night when crypto markets normally dip.
I’ve read that depending on the debt, they have provisions built in where depending on how much inflation happened they can adjust the debt accordingly. This is what someone on here told me.
I didn’t look into it too deep because I’m just in overdrive right now to pay off my debt. But if you plan to hold it you might want to look into it.
I wouldn't do stocks. NYSE might become insolvent at some point. For real estate it depends, the main risk is how property ownership is gonna work in the future. Maybe it gets seized, maybe not. Crypto is also risky since if it gets criminalized, or the internet goes down, it will go down by a lot.
Also it depends on your living situation. If you live in a city or don't own your own property I'd probably do crypto since you can keep it in a brainwallet. If you own a house in a red state then I'd probably just buy gold or collectibles (such as vintage video games) since those will likely retain their value longterm