14 Questions People Ask About How To Prepare For The Collapse Of The Economy

[oyarde]

Learn trades and crafts.. Stuff that will be useful to the community.
Some good Firearm training would not hurt.

Best of luck in a thoroughly fuck up world.

Pete makes a good point , if you have a welder , a generator , and can use it ,etc. , you may well be able to trade some of your work out for some things you need.

 

[heavenlyboy34]

Well, if you stick all of your money in your mattress, what happens if there is a fire or what happens if someone robs you?

That's why they invented fireproof safes, Mr Author.

 

[heavenlyboy34]

Nice and maybe for Christians God too.

(pretend this isn't a nationalist war song )

 

[oyarde]

That's why they invented fireproof safes, Mr Author.

I have one of those , it is open and empty , decoy , anyone who knows me would expect it to be booby trapped anyway

 

[heavenlyboy34]

I have one of those , it is open and empty , decoy , anyone who knows me would expect it to be booby trapped anyway

Have you caught many boobies yet?

 

[oyarde]

Have you caught many boobies yet?

LOL , LOL

 

[John F Kennedy III]

Good point, because everything you want to buy won't require 10oz of silver. Food for the day may only cost a half ounce (or something like that).

That being said, the collapse should trigger a massive sell-off of stocks, but would that include mining stocks? Wouldn't those companies almost benefit because of the rising nominal price of precious metals?

I almost think mining stocks would be nearly as safe of a hedge as precious metals, besides the fact that you don't physically own it, and you can't barter with it. Do you think mining stocks would do well during hyper-inflation?

This is why I would like to get ahold of silver dimes. If I had the money I would like to have at least 3-4 sets of these:

http://www.midasresources.com/store/store_item.php?i=mercbagDimes

But if you can find someone that sells less than 1,000 at a time it could be a good way to gradually stock up without having to have $3,000 each time.

The reason I prefer dimes is because it is the lowest denomination (in terms of size, not the value printed on it). I'd rather spend a few silver dimes than get stuck spending a piece of gold and not getting change back because it was the lowest denomination I had.

 

[heavenlyboy34]

LOL , LOL

Now you have to wonder which kind of booby I meant there...

[/IMG] Or

 

[heavenlyboy34]

This is why I would like to get ahold of silver dimes. If I had the money I would like to have at least 3-4 sets of these:

http://www.midasresources.com/store/store_item.php?i=mercbagDimes

But if you can find someone that sells less than 1,000 at a time it could be a good way to gradually stock up without having to have $3,000 each time.

The reason I prefer dimes is because it is the lowest denomination (in terms of size, not the value printed on it). I'd rather spend a few silver dimes than get stuck spending a piece of gold and not getting change back because it was the lowest denomination I had.

FWIW, silver dimes are pretty affordable over at Amazon.

 

[John F Kennedy III]

FWIW, silver dimes are pretty affordable over at Amazon.

Thanks. It's true

http://www.amazon.com/s/ref=nb_sb_noss_1?url=search-alias=aps&field-keywords=silver+dimes

 

[Danke]

I have one of those , it is open and empty , decoy , anyone who knows me would expect it to be booby trapped anyway

 

[Tod]

If you've got canning questions let me know.

Will do, although hopefully family members will be able to help teach me too. Thanks!

 

[heavenlyboy34]

I don't want to derail your guys' thread, but I also don't want to start a new thread all about me, and this is mostly on-topic.

I want to prepare for 'the' collapse/hyper-inflation/doomsday/whatever you want to call it, and I'd like some input.

I'm 17, will be a high school senior this year, live with my parents, earn minimum wage working part time, and going to college in the Fall of 2013.

I have some disposable income - my car insurance/gas is about $200 a month (my only living expenses right now), and I make roughly $800 a month.

I definitely have some expenses coming up in the near future (college) that I will need cash on hand for (versus an investment/hedge of some sort), but I think I have some money to start building a hedge, considering I will probably get a near full-ride scholarship to a couple of the colleges I'm applying to (thank God for good grades/test scores).

What advice would you give to someone in my position who has nothing as a hedge currently? I found a PM 'dealer' in my area that I'm considering buying 10oz silver bars from, http://www.ajpm.com/silver-bullion.html, maybe once a month. That's probably better than nothing, right?

One of my other ideas was opening an account at Scottrade, minimum deposit to open is $500, and investing in some various mining companies.

What do you all think? A combination of the two?

Thanks and sorry this is a little off-topic

-Nick

New buyers should stick to bullion coins instead of bars, IMO. (easily recognizable types such as silver eagles) Junk silver is good to have on hand, too.

 

[oyarde]

Good point, because everything you want to buy won't require 10oz of silver. Food for the day may only cost a half ounce (or something like that).

That being said, the collapse should trigger a massive sell-off of stocks, but would that include mining stocks? Wouldn't those companies almost benefit because of the rising nominal price of precious metals?

I almost think mining stocks would be nearly as safe of a hedge as precious metals, besides the fact that you don't physically own it, and you can't barter with it. Do you think mining stocks would do well during hyper-inflation?

I think , probably not . Mining of any kind is high overhead . Here is what I have found , reading over the years . Stock market crashes , 1929 . Lets move to 1932 , because that is when it finally bottomed out , not to fully recover until 1954 . Looking at the period of 1932 to 1954 at all the top 50 performers through those worst years before WW 2 AND beyond. Of the fifteen that may be graded best overall ,about, twelve still exist in some form. One of those is now Danaher , who made mining equipment , if I was you , maybe look into that , here are three others from that time span that performed well and still exist ;General Dynamics ( GD) , the company that is now Norfolk Southern (NSC) , the company now Chevron ( CVX , I think ) . The other eight are Borgwarner (BWA) , International Paper & Power (IP ) , AND THESE ( I would not touch, do not know enough about them ,NOW and the last four do not seem depression proof to me right off the top of my head ) now NL Industries (NL) , FMC Corp, the company now Boeing ( BA) , now Unisys (UIS) , now CVS (CVS) , Honeywell (HON) . IF YOU HAVE A GOOD FEELING ABOUT MINING , I MAY THINK ABOUT WHO THEY HAVE TO BUY FROM INSTEAD , WINNERS WILL STILL BUY , this way you are not invested in any losers ... a few years ago my Daughter asked me for some help , market was tanked , I helped her into a bunch of General Dynamics , at the time , I could not find any thing else I had confidence in for my Little Girl. I love my Girls , my boys are heathens for the most part , they are just my Militia .

 

[oyarde]

So , I guess , my assesment of mining stocks , currently would be , find out everything they have to use , who they buy it from and try some of that . This cuts you out of the loser pile , better , hopefully ..... I am a physical guy myself ...

 

[NickOdell]

New buyers should stick to bullion coins instead of bars, IMO. (easily recognizable types such as silver eagles) Junk silver is good to have on hand, too.

Why are coins better? Besides being a smaller denomination.

I think , probably not . Mining of any kind is high overhead . Here is what I have found , reading over the years . Stock market crashes , 1929 . Lets move to 1932 , because that is when it finally bottomed out , not to fully recover until 1954 . Looking at the period of 1932 to 1954 at all the top 50 performers through those worst years before WW 2 AND beyond. Of the fifteen that may be graded best overall ,about, twelve still exist in some form. One of those is now Danaher , who made mining equipment , if I was you , maybe look into that , here are three others from that time span that performed well and still exist ;General Dynamics ( GD) , the company that is now Norfolk Southern (NSC) , the company now Chevron ( CVX , I think ) . The other eight are Borgwarner (BWA) , International Paper & Power (IP ) , AND THESE ( I would not touch, do not know enough about them ,NOW and the last four do not seem depression proof to me right off the top of my head ) now NL Industries (NL) , FMC Corp, the company now Boeing ( BA) , now Unisys (UIS) , now CVS (CVS) , Honeywell (HON) . IF YOU HAVE A GOOD FEELING ABOUT MINING , I MAY THINK ABOUT WHO THEY HAVE TO BUY FROM INSTEAD , WINNERS WILL STILL BUY , this way you are not invested in any losers ... a few years ago my Daughter asked me for some help , market was tanked , I helped her into a bunch of General Dynamics , at the time , I could not find any thing else I had confidence in for my Little Girl. I love my Girls , my boys are heathens for the most part , they are just my Militia .

So , I guess , my assesment of mining stocks , currently would be , find out everything they have to use , who they buy it from and try some of that . This cuts you out of the loser pile , better , hopefully ..... I am a physical guy myself ...

Interesting idea. I wonder if there really would be that significant of a difference in the performance of mining companies vs their suppliers. It seems to me that they would be somewhat linked.

I'm thinking of going with more physical assets than stocks, too; was just curious if anyone else thought mining stocks might be an exception to a general crash in stocks during hyper-inflation?

 

[oyarde]

Why are coins better? Besides being a smaller denomination.





Interesting idea. I wonder if there really would be that significant of a difference in the performance of mining companies vs their suppliers. It seems to me that they would be somewhat linked.

I'm thinking of going with more physical assets than stocks, too; was just curious if anyone else thought mining stocks might be an exception to a general crash in stocks during hyper-inflation?

Coins are harder to fake and the fakes are easier to tell.

 

[oyarde]

Why are coins better? Besides being a smaller denomination.





Interesting idea. I wonder if there really would be that significant of a difference in the performance of mining companies vs their suppliers. It seems to me that they would be somewhat linked.

I'm thinking of going with more physical assets than stocks, too; was just curious if anyone else thought mining stocks might be an exception to a general crash in stocks during hyper-inflation?

I think they would be linked too , but they will not all make it , best supplier will ( hence , why Danaher performed while others did not ... )