Anyone else preparing for financial armageddon?

[eek.]

X's post was a bit of an eyebrow raiser for me.

Can't say I'm too nervous, times have been a lot harder for people in the past.

I believe Woofy is a bit of an armageddonist as well.

QL:

Per Cyclist....

"The Fed is in a box of their own making.The greatest danger to the system are not the banks at the moment but the hedgefunds.Their structure is leverage and will not get the preferential treatment from the Fed as the banks do.As long as the Fed takes in the toxic loans from the banks at its face value ,things will work out as long as the foreign Central banks acceptthe dollar by buying treasury paper.If there are no takers the dollar will sinkto new alltime depths,this will make the commodities double and triple priced in dollars. However the hedge funds are stuck in illiquid investments and will blow up if the commodities start to advance in a big way as you saw the price of oil on the spot market take a huge jump of 25%.If more commodities are going into the same direction because the dollar is sinking ,the next one to watch is the Yen.This carrytrade has the making of a Tsunami when this one is starting to unwind.Gold will rise like a rocket and there will be no Central bank stepping in to sell their hoard in order to stabilise the price.

Following that scenario ,you will see a run on the banks after the ATM
machines shut down.We will see a bank holiday with the ensueing chaos.
My recipe is to have at least three month cash on hand and the rest
to have in gold coins.Stockmarkets will be shut as well and martial law will be instituted. My take is,be prepared , cities will be death traps

"

He later pinpoints the second week of November, a date he's referenced a lot. He predicted the Georgia outbreak and the crazy Wall Street turns last week. What do you think?

I'm starting to feel like a real nutter here, but about three months ago I gradually started hoarding supplies like water, food, salt, and camping gear.

My take, Obama loses the election, blacks riot, stock market/dollar crash, all hell breaks loose.

Your thoughts?
<!-- / message -->

:toast:

 

[gtc08]

all i know is alot of these credit card companies will cut your limits. to alot of americans living on them they'll be screwed.

all your money should be in precious metals, gold standard. dollar is dead, forget about that. everything will get more expensive.

 

[FalseDmitri]

I've stocked up on ammo for the .223 and .45 incase McCain starts WWIII with Iran.

 

[DarrylParsons]

I've been anticipating financial armageddon and planning accordingly ever since I bought a bunch of gold coins in late 2005. Since then I've loaded up a bit on silver also and now have 75% of my net worth in precious metals -- the actual physical stuff, not futures or warehouse tickets. The rest is my working capital and I'm fully prepared to lose it in an armageddon scenario. Only reason I keep any working capital is to have something productive to do in the meantime.

As for camping gear and stuff like that, I haven't gone that far. I figure a few silver coins will buy some nice stuff when it's needed. Same goes for food and water. People will still be producing necessities, even if they won't be getting paid in cash. When things were really bad in the soviet bloc and other places with hyperinflation, they just paid the workers in kind. That's always a doable approach even in the armageddon scenario. Just have something of value you can trade for it and all should be ok.

 

[tiznow]

75% wow DP even more doom gloomy than tiz

 

[quantumleap]

The guy that X quoted was wrong about Georgia in its scope. He said that it would continue to get worse.

The people in control of the finances in America are the real rulers of this country. They won't allow their finances to get trashed to the armageddon level. Sure, we could see an economic depression of some sort but not a complete breakdown of the system. They are too powerful to let that happen.

 

[tiznow]

they are out numbered QL if the complacency is removed

that said i expect fiat to survive even in this round of bust i don't see us bartering and such and things getting that bad....

although you could see us moving back more towards a gold standard than completely off it altogether like we are now

 

[mamatried]

If it happens, say, a couple of weeks earlier than he predicts, you don't think they'll cancel the World Series, do you?

 

[tiznow]

nah the world will go on just like it did during the great depression (and i doubt things will be as bad as than) during which at the worst of the worst 75% of people still had a job

UE rates of over 10% seem like a shoe in IMO....how bad it gets above that is anybody's guess

 

[quantumleap]

they are out numbered QL if the complacency is removed

Complacency removed? In the US?

bwahahahahah.





(Just giving you a hard time tiz.)

 

[tiznow]

when they don't have a job and are living in a tent which is starting to happen more and more that's how the complacency is removed.....

 

[DarrylParsons]

I agree that complacency can go away, but it will take a majority to be living in tents for that to happen. Right now it's still a small minority.

The depression of 1929 was just a stumbling block for the ponzi scheme. People thought it would collapse but instead it just got bigger at the expense of its foundation. Now there is no foundation at all and the amounts getting stolen from the masses at the highest levels are rivaling the size of the entire money supply.

Maybe my imagination isn't good enough to dream up solutions to keep the system in tact (as if that's desirable anyway), but I can't help but see it as a question of WHEN and not IF the financial system breaks apart. It may happen slowly via inflation, though, rather than 1929 style.

 

[DarrylParsons]

75% wow DP even more doom gloomy than tiz

Yes it's true. Difference between me and you, though, is that I'm not trying to convince people of it. You can lead a horse to water ... etc.

 

[Dawoofdaddy]

Eek, since I long ago prepared myself for the financial meltdown here in the US, Im now again making preparations to adjust to possibly having to live for a few years in a different country.

Lessons arent too expensive and I already could dance anyway, so it beats the hell outta looking at worn out, cig smoking hags, at the dimly-lit local dive bar.

Ill sell my house here (bomb shelter included) and let some other bloke go through the bs of battling with the darkies running wild through the streets next summer whether or not bobama is the next president.

Alot of them still want that 40 acres & mule they were promised a long time ago. If b o wins maybe his wife will cut him off the puss until he signs those checks.

:cripwalk:

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/QIehzEe7c3k&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/QIehzEe7c3k&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>

 

[quot7quot]

Eek, since I long ago prepared myself for the financial meltdown here in the US, Im now again making preparations to adjust to possibly having to live for a few years in a different country.

Lessons arent too expensive and I already could dance anyway, so it beats the hell outta looking at worn out, cig smoking hags, at the dimly-lit local dive bar.

Ill sell my house here (bomb shelter included) and let some other bloke go through the bs of battling with the darkies running wild through the streets next summer whether or not bobama is the next president.

Alot of them still want that 40 acres & mule they were promised a long time ago. If b o wins maybe his wife will cut him off the puss until he signs those checks.

:cripwalk:

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/QIehzEe7c3k&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/QIehzEe7c3k&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>

haha. Where you gonna move? The US is broken but, anywhere else is prolly worse. Are you in search of unfettered capitalism? Let me know when you find it.

 

[tiznow]

y thinking i might self deport myself as well WOOF and not come back at least till the dust settles

plus this bill going through will help keep economies dependent on shit you need in decent order....without the bill entire global economy would likely go into a depression....maybe i'm eating outta the palms of their hands thinking so but thursday last week you could see the financial system locking up and confidence being lost worldwide

got my eyes on aussie land they got a good amount of natural resources....

 

[quot7quot]

y thinking i might self deport myself as well WOOF and not come back at least till the dust settles

plus this bill going through will help keep economies dependent on shit you need in decent order....without the bill entire global economy would likely go into a depression....maybe i'm eating outta the palms of their hands thinking so but thursday last week you could see the financial system locking up and confidence being lost worldwide

got my eyes on aussie land they got a good amount of natural resources....

Australia? But, Al Gore says in 20 years it will be 120 degrees there all the time and the water will disappear and you will see big cracks in the ground all over the place like Haiti.

No thanks. I'm moving in with Gore in his 30 room mansion in Tennessee.

 

[tiznow]

Lol

 

[xpanda]

The guy that X quoted was wrong about Georgia in its scope. He said that it would continue to get worse.

I think the jury is still out on whether or not he was wrong about that. The Georgia incident, IMO, was a big game of chicken between the US and Russia. Russia won.

The people in control of the finances in America are the real rulers of this country. They won't allow their finances to get trashed to the armageddon level. Sure, we could see an economic depression of some sort but not a complete breakdown of the system. They are too powerful to let that happen.

Unless, of course, financial armaggedon is what they WANTED to happen.

I think it is.

These are some of the smartest people in the world. There's no way the events of last week took them by surprise. I'm a little peon in the north, and even I saw it coming.

As for eek's original post... I've been saying for some time that I'd rather be prepared and wrong than be unprepared and right.

 

[barman]

Fellas how much could it really cost for us to collectively buy a small hotel in Costa Rica that could house a few dozen of us while we all go to work in the online gambling biz.

As financial times increase in challenge, the motivation to gamble will increase across the board.