Lepard opinion of financial crisis

[Kade]

Thanks for all the information so far. I have a mother who's just hit retirement age, she'll have my father's pension (he's deceased), social security and savings. Her house is paid off. Would you think that gold/silver investments are also good for her? I already got her stocked up on canned goods, etc.

We also just got notice that heating costs will be going up by 50% this winter, so I'm getting her old windows replaced, getting the chimney swept and will be stocking up on wood for her fireplace. I'm doing this under the "guise" of being a good daughter and haven't been mentioning anything about bank runs, economic collapse, etc. because I don't want to worry her, but I'd also like to do everything I can to insulate her. Any suggestions are welcome.

We can probably save money on heating costs if we keep using excessive amounts of fossil fuels. Just a thought.

 

[LibertyEagle]

PM sent to you, llepard.

 

[amy31416]

We can probably save money on heating costs if we keep using excessive amounts of fossil fuels. Just a thought.

One that doesn't make much sense given that I was talking about getting her house better insulated and making more consistent use of her fireplace. Not sure what you're getting at. She can't afford solar panels and windmills are not exactly a good option in the 'burbs.

 

[Kade]

One that doesn't make much sense given that I was talking about getting her house better insulated and making more consistent use of her fireplace. Not sure what you're getting at. She can't afford solar panels and windmills are not exactly a good option in the 'burbs.

I was joking.

 

[lucius]

Thank you, always enjoy your posts. I read this from Chapman,

"Swiss government bonds denominated in Swiss francs are cheap to buy and can cover your larger blocks of cash if you are sufficiently affluent."

Any thoughts?

 

[acptulsa]

I am not as knowledgeable as you, llepard, but it smells exactly the same way to me. But between the fact that this is the usual deal and the fact that this is an election year and TPTB will be trying to resurrect the economy, I wonder if the real crash is going to happen at the traditional time of around election day. Both '87 and '29 were late in October, and it seems that most major corrections are right there with it. Any thoughts on that?

 

[Johnnybags]

Self directed IRA- real estate

My best guess as to what the best investment is would be utilizing all those retirement funds into a small, self sufficient, few acre cabin/home away from major cities but close enough to a small one with a rail system. Onsite water,fertile land and stocked with barterable goods. I do not know the mechanics of it but have heard that you can invest these retirement funds as such.
I expect after Lepards forecast begins to unfold, mass migration from zombified cities will begin.
A cheap acerage self sufficient cabin with all the necessities in place will be valuable. The worst thing that can happen is you end up with a nice place to vacation if the forecast does not come true and if it does, you are well prepared and have a quickly appreciating asset and peace of mind.

Google real estate IRA or 401k and see the mechanics of it.

My guess is Lepard saying people that can work will be fine is people that can actually work(weight X distance), not type on a keyboard. Just a guess.

 

[constituent]

if there are more widespread failures, wouldn't FDIC insurance provide false hope. As I understand it, there is no way FDIC insurance could come anywhere close to covering all obligations in the worse case scenario.

well, they could print up a bunch of new money, but then you'd be holding 100,000 worthless debt certificates that no one was willing to accept.

 

[ladyjade3]

I think we're all going to be ZILLIONAIRES soon. Just like the Zimbabweans. They are all RICH RICH RICH!

 

[jacmicwag]

Great post. One question - if a person were to save all their coins (pennies, nickles, dimes and quarters) over the course of several years, will they still have value after a dollar crash? These are not pre-64 era silver coins however.

 

[acptulsa]

I think we're all going to be ZILLIONAIRES soon. Just like the Zimbabweans. They are all RICH RICH RICH!

lol. Don't know where their next meal is coming from, but they're zillionaires...

jacmicwag, probably a little, but since they are one alloy sandwiched on a layer of another metal in the middle, they will be very hard to smelt for their components. You'd wind up with an alloy with few big advantages unless you can precipitate the metals and seperate them.

 

[ladyjade3]

Great post. One question - if a person were to save all their coins (pennies, nickles, dimes and quarters) over the course of several years, will they still have value after a dollar crash? These are not pre-64 era silver coins however.

Coin metal content has to change every so often to keep up (down) with the sinking value of the dollar. Newer coins are pretty much zinc, aluminum, whatever trash metal they can get for cheap. pre-1983 pennies are worth a couple cents. Pre-1964 dimes are worth more than a dollar each. There are websites that track this kind of thing. It's very interesting.

I would think saving coins could be good, but it really depends on when they were minted.

 

[Kade]

Great post. One question - if a person were to save all their coins (pennies, nickles, dimes and quarters) over the course of several years, will they still have value after a dollar crash? These are not pre-64 era silver coins however.

Of course they still have value.

 

[runningdiz]

Thanks for that informitive read llepard best of luck to everyone.

 

[Johnnybags]

The best, cheapest coin is the nickel

Coin metal content has to change every so often to keep up (down) with the sinking value of the dollar. Newer coins are pretty much zinc, aluminum, whatever trash metal they can get for cheap. pre-1983 pennies are worth a couple cents. Pre-1964 dimes are worth more than a dollar each. There are websites that track this kind of thing. It's very interesting.

I would think saving coins could be good, but it really depends on when they were minted.

Yes, its subsidized and is our only non fiat currency. Copper and Nickel but this is the last year.

 

[AFM]

Take a look at SKF. Ultrashort Financials
Twice the inverse of the DJ Financials Index
Its gotten hammered in the last week with the faux-rally so this is a good time to get in.

Also DGP is GLD x2

Just my 2 cents

 

[Mckarnin]

Pretty freaky that they made such a convenient site to look up whether your failed bank is insured.


Here's a question...what would you advise poor people to do? My family is young, my husband is a grad student...we don't have thousands of dollars anywhere. Buy food and hope that enough people's ships will be sinking that the mortgage company won't be in a hurry to boot us?

I agree. Best would be to have no money in banks at all. My only point is that I am confident that insured depositors will be made whole by the Government. They have said repeatedly that they will protect them and protect the system. Where will the money come from? They will print it. What will that money be worth? Anyone's guess, but less than it is worth today, that is for sure. The problem is that printing money will destroy the purchasing power of the dollar. So, yes, your point is correct. No money in banks if possible. But for many that is impractical.

The FDIC knows there is a problem and is trying to get ahead of the curve.

Check out this website.

http://www4.fdic.gov/dip/index.asp

Presently only Indymac is on the drop down list. How much you wanna bet that that list grows quickly?

Another piece of interesting information. I was at my coin dealer yesterday buying gold coins. He is a big dealer in the Boston area. I asked him what his volume was this year compared to last. He said he had sold 4-5x more coins this year than last year (not sure if this year to date or 6 month v. 6 month data) but either he is up 4x or 8x. Boston area has a lot of intelligent wealth. What does that tell you about how people with money in Boston are voting on the value of the dollar versus gold. I sense a trend in motion. Remember the trend is your friend.

LWL

 

[UtahApocalypse]

Why use a band aid in a arterial bleed? Thats exactly what the FED has been doing for months, if not the last few years. i think now though were up to full out gauze and tape. That baby is still going to soak through. I have only heard one Dr. talking about sewing up the wound and treating the cause of the bleeding. too bad the others in the operating room have no clue.

I wish you all luck in the future, I fear that this patient is bleeding to death and soon dying.

 

[Paul.Bearer.of.Injustice]

Bush has bankrupted every company he has run, possibly intentionally to make mergers and consolidations easier. He's doing the same thing now so we can get in on Canada and Mexico's vast wealth of natural resources.

 

[Todd]

Great post llepard, thanks.
Here is some good advice you don't see too often:

If you do not drink, buy several large Rum bottles.
They will rise in value, and will be easy to trade for food, or other valuables.

If you do drink:

Either quit soon, or buy several large Rum bottles. You'll be wanting them later this year.

LOL...good advice

also buy into French Bordeaux's. They are worth beau coup after several yeas.. Can't imagine what they will be if there is a crash.