How Do We Protect Our Money If The Economy Crashes?

Discussion in 'Money & Finances' started by Yvonne Smith, Oct 2, 2021.

  1. Frank Sanoica

    Frank Sanoica Supreme Member
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    @Yvonne Smith

    Have you forgotten the harrowing "rainbow currency" scare? Just try to find ANY reference today. In a nutshell, Senator John Tower (TX) revealed to the media that a "new" currency had already been printed and was stockpiled in Ft. Knox. This new currency was created on the premise that it could be introduced, in keeping with one of the commitments in one of Reagan's new Monetary Acts that legally allowed introduction of a new currency at "any exchange ratio deemed proper by the Treasury". This meant all paper currency would be exchanged for a new, multi-colored money unofficially dubbed "rainbow money". The implications of his revelation were immediate, especially the new broad controls over savings institutions the new acts legalized.

    Here are a few: Presidential discretion may require 30 days written prior notice for any personal withdrawal from any federally-insured banking institution in America. (Look at your paperwork fine print on any savings or checking account you may have opened; I did).

    Presidential discretion may freeze any personal checking account.

    All banking transactions involving over $10,000 must be reported to the government.

    Making successive monetary transactions the total of which exceed $10,000 constitutes "structuring", punishable by prison term.

    The public outcry over Tower's revelation resulted in action by the Treasury. I believe the first multi-hued bill released was the $100 bill. Ostensibly, the changes were to "thwart counterfeiting". The exchange rate was 1:1, of course. Slowly, the radical 10s, 5s, etc. were released. Bank employees returned new bills and kept the old, which were returned to Treasury.

    Frank
     
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  2. Don Alaska

    Don Alaska Supreme Member
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    The Fed just "printed" another $500 billion dollars to bail out banks over the weekend. Stocks bumped up on the news, but third-world countries are now signing deals with the Saudis to purchase oil in currencies other than the dollar. Some are predicting we will be like Venezuela by year's end as the government continues to print more money to cover shortfalls, support Ukraine, and rebuild a neglected military. Hyperinflation may follow as it did in Weimar Germany when they did the same. This always leads to a dictatorship to keep the nation afloat, and the U.S. is the only nation with a Presidential form of government that has not been a dictatorship at some time in history. The only difference for us is the Second Amendment and they are now devising ways to come after our guns...and our food.
     
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  3. Thomas Windom

    Thomas Windom Very Well-Known Member
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    https://www.armstrongeconomics.com/...mics101/the-future-post-2032-a-new-beginning/

    “This [2032] will be a 309.6-year Private Wave, which will be volatile, but our current form of Republics that pretend they are democracies are coming to an end. These are the most corrupt forms of government known in history. They will no longer exist. We will see an admixture of dictatorships/monarchies and democracies.”
     
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  4. Teresa Levitt

    Teresa Levitt Veteran Member
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    spend our money now for things that help us be self sustainable
     
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  5. Don Alaska

    Don Alaska Supreme Member
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    Without the Progressive Movement imported from Germany, we would probably be fine. It has nothing to do with the Republic form of government as it was set up, but the changes --approved by the people and states--that have corrupted it.
     
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  6. Thomas Stillhere

    Thomas Stillhere Very Well-Known Member
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    The first thing to do is put razor wire around your home or property to keep out the soon to be extinct thieves and thugs. Should we go down in a total collapse law and order will cease to exist. A worker, any worker, does not work for free. That goes for every trade and position known to mankind. There will be no police, no firemen, not ambulance service. The elected that hasn't left will attempt to pay the political hacks and keep them as the Almighty do what I say bunch. That won't last long because they will be too busy trying to hide their stolen money. I still have a mason jar full of buttons of the 20's and 30's that my Grandmother saved. Should the day come you cannot afford a button you will understand a fool bragging about how great his life as a politician had been. There is no way to feel the pain and suffering that would linger on for some peoples entire life. I hope it does not happen, but looking at who was voted into the highest positions of our government all were not qualified to shine shoes for a living.
     
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  7. Mary Stetler

    Mary Stetler Veteran Member
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    Because of the last mass shooting, Biden called to ban assault weapons. An EO? How many are there to round up? Are all registered? A civil war?
     
    #22
    Last edited: Mar 29, 2023
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  8. Marie Mallery

    Marie Mallery Veteran Member
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    First thing they will do is check social media and find out where we just told them our money is.:D
     
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  9. Thomas Stillhere

    Thomas Stillhere Very Well-Known Member
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    I would just say the supreme court has the last word on any regulation that is contradicting the constitutional right to own and bear arms. NO type of weapon is specified and a gun is a very broad term so I expect the left to try and play NERO in the courts but, should they try and go to far which they already have there would be more for themselves to worry about than buying a vote.

    They have already tried every angle there is such as limiting the size of a magazine and other silly things like actually using our tax dollars to run out in the dead of night and buy up all the ammunition so none of us had access. I would think all long rifles even a stupid plastic rifle are definitely licensed. It shows the level of ignorance politicians actually have when they keep trying to push an agenda. If I wanted a rifle it would be the M-14 not that Mattel gun.

    It makes no difference what a gun looks like, the bullet is the guy who has no friends. The M-14 has a simple selector you file down and you have a full automatic rifle. After firing it full automatic you find yourself with an automatic deer rifle, then you go straight to the gun store and buy a new un-filed selector. I hated that plastic rifle, couldn't hit anything with it. The only reason it was chosen was because it was light and the ammo load could be doubled for each person in the field.

    Like I said it isn't the gun but the bullet that kills. Stupid people vote for stupid politicians so anything could happen today even if it means attempting to step on our constitutional rights. If you want to stop mass murder then hang the people who did the shooting the very same day they are captured. A lot of people don't agree with that, but the fact is today we have so many sick humans in America for so many different reasons there are simply too many of these sick butchers out there planning a shooting simply because they don't care about any rational thought process.

    In the end this was once a place where you could buy a gun without any of these so called laws we have today and back then we had none of these sick freaks running out and killing innocent people especially a bunch of children. In reality back in the old days if someone did such a thing they would be lucky to make it to the police station alive.

    None of this butchering was around until the politicians for a vote opened up our borders and allowed every thug with a bag of grass run in and take over the over populated cities. There is no one to blame but past and present politicians that are simply in office to steal as much as possible. The American family today is totally fractured and it won't change in our life time or possibly never change. I don't have a negative attitude but live in a world where I truly know who my enemies are and especially here at home. It is not my neighbors :)
     
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  10. Don Alaska

    Don Alaska Supreme Member
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    I just saw a warning from the CEO of FedEx that the U.S. will be bankrupt soon if the government spending does not slow. A similar warning was issued by the CEO of J.P. Morgan Chase. There are warning that entitlements will not be paid. Much of our future Social Security money is now going to Ukraine to fund the war and the black market there. I hope all are ready for it.
     
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  11. Jacob Petersheim

    Jacob Petersheim Very Well-Known Member
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    I've looked at bullion and even dabbled prior to 2008. I made some money back then but I am not convinced letting it ride would have "protected" a darned thing. When things get tough every goober gold bug will be looking to sell, much as so many silver stackers are cashing out or on the verge right now. I'm almost convinced that metals are as fully controlled as cash, and lack the liquidity of cash while having the penalty of premiums.

    I'm seriously considering something "nutty" instead.

    Buy another house nearby in good repair and salable condition, furnish it anew, then leisurely move in. I can do this for cash with careful shopping and even tap my 401K money reducing market exposure. Clear out the old house and just sell it as-is rather than pouring more money into it, shedding a lot of "junk" in the process that I'll never need again anyway. Higher interest rates right now help depress real estate prices, making this even more feasible. Especially since I'd be looking at "starter homes" which normally target a more interest rate sensitive buyer segment, helping keep costs down.

    I'd take losses on the old place, but without incurring the costs to improve it. More recent furnace, etc. etc. as well as all new furnishings to enjoy for years to come.

    I'm not even taking SS yet, I owe nothing on the old place or my car. Even without what an as-is sale may bring I won't have depleted my savings and still have my pension I've been living on and even saving on.

    I may as well "protect my money" in my home.
     
    #26
  12. Mary Stetler

    Mary Stetler Veteran Member
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    The percentage of people basically without savings is shocking.
    I am not rich by any means but I hope to hold my own if they do not increase property taxes to the stratosphere to give Blackrock more raw material where people can't afford to keep their homes. I hear one of the plans is to have the gov't pay people to have illegals stay in private homes. I only have hubby's house and the farm that one of my kids rents.
    I looked into the possibility once of having a live-in assistant. But the laws are for tenants and not so much for landlords. Once a person is in your home, and you don't get along, you have to legally evict them to get them out and I would worry that the destructive 'payback' would be horrible while waiting for them to leave.
    I have thought of having my kids move back with us however that doesn't sit well either.
    But I have been preparing for eventualities for a long time. I was probably the original prepper. People laughed at me.
    :D
     
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    Last edited: Feb 20, 2024
  13. Celia Jenkins

    Celia Jenkins Well-Known Member
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    So once again, what happens in America is copied by Britain. Our bank accounts are also being monitored. This is why I use cash as much as possible. What I spend my money on is my business.
     
    #28
  14. Marie Mallery

    Marie Mallery Veteran Member
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    Some cheap-skate just turned the porch fan off again. So guess we'll be ok.:rolleyes: Time to throw some socks in the floor 'again'.:D I'll 'sock' it to him.;)
     
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  15. Mary Stetler

    Mary Stetler Veteran Member
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    My husband turns the kitchen light off as he leaves the room when I am sitting at the kitchen table with my laptop. Wonder if we should trade.
     
    #30

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