Lepard opinion of financial crisis

[Rhys]

we're not facing a correction. We're facing a collapse.

Gold and silver and oil are safe havens. It will be hard to lose money in gold. You are saving when you buy gold, not investing. It's like going into the basement for a tornado.

Now then, with the collapse of the dollar, the nominal value of gold will skyrocket while the purchasing power of gold will not. HOWEVER, the the US, the purchasing power of gold will APPEAR to increase greatly as the purchasing power of the dollar evaperates.

When the dollar is dead and buried, sell your gold and buy investments with the new currency. It's about timing.

But remember first, gold is a shelter from the storm, not an engine for growth. Gold is money. When you buy and hold gold, you're buying and holding money. The benifit, again, comes from this form of money NOT losing it's value while our dollar does.

If you have 10 oz of gold, you'll be able to buy 10 shares in the DOW index. Right now, it would take about 120 oz of gold to buy 10 shares. This is where the benifit comes from. This is why gold will APEAR to gain in value, cause you'll be able to buy more stuff with it than you can now.

When that stuff starts to regains it's NOMINAL value, you'll have enough REAL value to buy a bunch of it. That is investing for growth.

Another way to think of gold is, selling short the dollar (sorta). You sell dollars high and buy low again later.

 

[Aldanga]

First off, many thanks to all of you for all your hard work and diligence.

I'm planning on going to college in the fall. I get tuition remission because my dad's a prof at a sister school, so my expenses are a little less than $7,000 a year. (I only have to pay a little less than half of that because of scholarships.)

I've talked to my younger brother a lot about the economy. He's already bought some gold with the money he has saved. The thing is, I don't really have enough money to pay for school and buy valuables.

What am I supposed to do?

 

[acptulsa]

Another way to think of gold is, selling short the dollar (sorta). You sell dollars high and buy low again later.

Yeah, that's what I was trying to say. Well put.

 

[acptulsa]

The thing is, I don't really have enough money to pay for school and buy valuables.

What am I supposed to do?

Yeah, fun dilemma. You're supposed to have a crystal ball that can tell you if your savings or your education will better help you weather the recession/coming depression. Don't let me lie to you about that.

 

[Rhys]

First off, many thanks to all of you for all your hard work and diligence.

I'm planning on going to college in the fall. I get tuition remission because my dad's a prof at a sister school, so my expenses are a little less than $7,000 a year. (I only have to pay a little less than half of that because of scholarships.)

I've talked to my younger brother a lot about the economy. He's already bought some gold with the money he has saved. The thing is, I don't really have enough money to pay for school and buy valuables.

What am I supposed to do?

go to school. You're young. By the time you're 30, we'll have hit bottom and it should be good times for all. It wont be easy, but you'll be educated and poor. No where to go but up from there!

 

[acptulsa]

go to school. You're young. By the time you're 30, we'll have hit bottom and it should be good times for all. It wont be easy, but you'll be educated and poor. No where to go but up from there!

Just don't get too esoteric a degree. Hard times tend to cut the fat out. Learn to do something that's always in demand.

 

[Aldanga]

I'm planning on majoring in Political Science and Philosophy and Religion (with mostly philosophy) and a minor in economics (I would've triple-majored but my college doesn't have a pure economics degree). After I finish up my undergrad I desire to go to law school to study Constitutional Law.

How is that for an education?

 

[Rhys]

I'm planning on majoring in Political Science and Philosophy and Religion (with mostly philosophy) and a minor in economics (I would've triple-majored but my college doesn't have a pure economics degree). After I finish up my undergrad I desire to go to law school to study Constitutional Law.

How is that for an education?

i dunno.... kinda thinky for this economy.

i'd skip the philosophy and religion and go straight for econ and law.

that's just if it were me, so you really have to decide for yourself what you want from life.

 

[torchbearer]

I'm planning on majoring in Political Science and Philosophy and Religion (with mostly philosophy) and a minor in economics (I would've triple-majored but my college doesn't have a pure economics degree). After I finish up my undergrad I desire to go to law school to study Constitutional Law.

How is that for an education?

I learned more out of college than i did in it. Diversify your teachers to maximize how much you can learn.
Find who is speaking truth and who is repeating the matrix.
Find a mentor. (I found mine- kept in touch... and still do 'til this day.)

I've learned more from Ron Paul in the last year than i learned from all my political science classes combined.

 

[Aldanga]

i dunno.... kinda thinky for this economy.

i'd skip the philosophy and religion and go straight for econ and law.

that's just if it were me, so you really have to decide for yourself what you want from life.

Yeah, I know; but I'm a serious InTJ. Thinking is what I do.

I may or may not drop the philosophy major. I've been thinking about that for a while and I've had people telling me that I should drop it. I'll just see if it's a waste of time or not (because I know I'm smarter than 85% of the people out there at the worst, it may be really dumbed down and below me). I'll see how it works out.

@Brent:

I know college is only the beginning. There is so much more I will learn from experience than from sitting in a classroom. I'm definitely a jack-of-all-trades, so my classes will be many. Rest assured I will do all you recommend. I've already been thinking about it.

 

[jaybone]

My first thought when reading this was "should I max out credit cards and buy gold/silver with the credit?"

Risky, but tempting.

I mean, if you're going to have debt, might as well be in worthless dollars, yes?

if it is a low fixed and long term rate,
AND more importantly, you can service the debt for as long as you have to,
this is a reasonable strategy.

Dollars will not become worthless overnite. Remember, when you get most of your income from a job, you do not see the benefit of inflating debt UNLESS you get a raise. Lots of people are going to be losing jobs in the next few years. If it is possible that you will not be able to afford the payments, ie. lose your job, then the debt could really hurt you later.

 

[torchbearer]

@Brent:

I know college is only the beginning. There is so much more I will learn from experience than from sitting in a classroom. I'm definitely a jack-of-all-trades, so my classes will be many. Rest assured I will do all you recommend. I've already been thinking about it.

I thought as you did... I wanted to take everything- major in everything. I finished in Sociology major/ Political Science major.
What i regret is not just getting through college and onto life itself. I played around.. changed majors several times.. etc...
Don't do that.

Also- my majors are basically worthless when it comes to making money in most local economies. Worthless.
I make my money fixing computers. A trade i picked up before college... i apprenticed under a guy named "Grumpy". I make a lot of money with this trade. I learned the basics in 6 months. Not 4 years. or 6 years (masters) 8 year (phd)
I consider myself a PHD of computer hardware. i get paid like a phd. so the value must be the same.


all things to think about- not trying to run your life, just giving you some insight i've gained from my mis-steps.

 

[WRellim]

First off, many thanks to all of you for all your hard work and diligence.

I'm planning on going to college in the fall. I get tuition remission because my dad's a prof at a sister school, so my expenses are a little less than $7,000 a year. (I only have to pay a little less than half of that because of scholarships.)

I've talked to my younger brother a lot about the economy. He's already bought some gold with the money he has saved. The thing is, I don't really have enough money to pay for school and buy valuables.

What am I supposed to do?

1) Get a decent bicycle. (If you want POWERED transport, then a Scooter or Motorbike instead of a car.)

2) Stock up (at least a bit) on some essentials. While you may not need them as food while attending college... they will be welcome during breaks/summer, and/or if you need to be someone's "guest" for a while you can bring something (and not be a TOTAL parasite).

3) Don't buy gold... for you, a small amount of SILVER COIN would be a much better bet (enough to pay for transport cross-country to some friend or relative's farm or business or something).

I'm planning on majoring in Political Science and Philosophy and Religion (with mostly philosophy) and a minor in economics (I would've triple-majored but my college doesn't have a pure economics degree). After I finish up my undergrad I desire to go to law school to study Constitutional Law.

How is that for an education?

Poli-Sci, Philosophy & Religion, with BS Keynesian Econ? May as well be an Art major!

And Constitutional Law may just be more like "Elizabethan history" by the time you get there. (Seriously, *is* there a Constitution anymore?)

STUDYING all of the above is a good idea... getting "schooled" in them is a different (and altogether less valuable) thing, IMHO.

Unless you are INTENDING to become a bureaucrat / apparatchik.



There ought to be SOMETHING practical you can learn while you are there... than again, modern Uni's ... if absolutely NOTHING ELSE... then at least make certain your "philosophy classes" cover things like LOGIC and PROBLEM SOLVING.

And for crying out loud take some classes in (rudimentary) programming... we're talking so you can dig into and fix stuff in WHATEVER language the programs are written in, not just the flavor of the day... basically use it to learn HOW to think, and how to LEARN (not just be "taught" or "spoon-fed").

If you can take any classes dealing with China and India... take them. Learn Mandarin or Russian if you can (before you get too old like the rest of us).

Last, but not least, LEARN how to write good solid English text -- not high-falutin' nonsense -- but solid stuff that conveys meaning and gets your points across (this ability is much rarer than people think, most college grads these days can't write their collective way out of a cardboard box).

 

[jaybone]

First off, many thanks to all of you for all your hard work and diligence.

I'm planning on going to college in the fall. I get tuition remission because my dad's a prof at a sister school, so my expenses are a little less than $7,000 a year. (I only have to pay a little less than half of that because of scholarships.)

I've talked to my younger brother a lot about the economy. He's already bought some gold with the money he has saved. The thing is, I don't really have enough money to pay for school and buy valuables.

What am I supposed to do?

Get storable food and do it asap; rice, beans, lentils, canned goods, canned meat (I never ate spam and think it's gross, but I have 20 cans in the basement).

Get some water in your home for short-term emergencies. Or a good filter like a Berkey.

Variable rate debt needs to be paid down as soon as your pantry is full. Fixed-rate long-term debt is OK.

Start building a physical cash reserve. Short term goal would be a weeks expenses (say if there is a bank holiday and all banks, atm's and cc's are offline), a few months is ideal.

Once you get that stuff taken care of, then start thinking metals.
I would start with pre-1964 us silver coins, you can get them on ebay or I like www.apmex.com this is the cheapest silver you can get for the dollar.
One face value dollar pre-1964 has about .72oz of silver, that's about $12.60 per dollar
Pre-1964
dime - $1.26
Quarter - $3.15
half - $6.30

This place:
http://www.silverandgoldaremoney.com/equivalents.php

give current spot prices for us and foreign coins.


I'm not going to tell you not to go to school, but you may want to seriously consider the economy of it.
If it is going to give you a useful skill that will lead to a more secure job, then go for it.

 

[Aldanga]

I thought as you did... I wanted to take everything- major in everything. I finished in Sociology major/ Political Science major.
What i regret is not just getting through college and onto life itself. I played around.. changed majors several times.. etc...
Don't do that.

Also- my majors are basically worthless when it comes to making money in most local economies. Worthless.
I make my money fixing computers. A trade i picked up before college... i apprenticed under a guy named "Grumpy". I make a lot of money with this trade. I learned the basics in 6 months. Not 4 years. or 6 years (masters) 8 year (phd)
I consider myself a PHD of computer hardware. i get paid like a phd. so the value must be the same.


all things to think about- not trying to run your life, just giving you some insight i've gained from my mis-steps.

The most times I'll change majors is one. I know what I want and I'm good at getting it. If I don't like something, I won't be there long.

I'm into computers myself. I'm pretty much a general handyman. I can fix anything you throw at me. (I've been doing that since I was six.) I'm going to keep up-to-date on PC stuff as well as general maintenance.

Being able to make money with non-money-making majors has been on my mind.

...

Poli-Sci, Philosophy & Religion, with BS Keynesian Econ? May as well be an Art major!

And Constitutional Law may just be more like "Elizabethan history" by the time you get there. (Seriously, *is* there a Constitution anymore?)

STUDYING all of the above is a good idea... getting "schooled" in them is a different (and altogether less valuable) thing, IMHO.

Unless you are INTENDING to become a bureaucrat / apparatchik.



There ought to be SOMETHING practical you can learn while you are there... than again, modern Uni's ... if absolutely NOTHING ELSE... then at least make certain your "philosophy classes" cover things like LOGIC and PROBLEM SOLVING.

And for crying out loud take some classes in (rudimentary) programming... we're talking so you can dig into and fix stuff in WHATEVER language the programs are written in, not just the flavor of the day... basically use it to learn HOW to think, and how to LEARN (not just be "taught" or "spoon-fed").

If you can take any classes dealing with China and India... take them. Learn Mandarin or Russian if you can (before you get too old like the rest of us).

Last, but not least, LEARN how to write good solid English text -- not high-falutin' nonsense -- but solid stuff that conveys meaning and gets your points across (this ability is much rarer than people think, most college grads these days can't write their collective way out of a cardboard box).

I don't hold quite the poor view of the direction of the world, but I do take your comments to heart. I will consider them dutifully.

If anything, battling against a Keynesian economics professor is bliss to me and will refine my rhetorical skills. I love a great argument.

The reason I want to take Philosophy is for logic and reasoning. If it's not to my benefit, I'll drop them.

That is some good advice on the programming. My dad's a compsci prof, so I've been around computers my whole life (both front-end and back-end). I'll look into that. I definitely know how to think and learn. I've been homeschooled my whole life and have been practically teaching myself the last eight years.

Hmmm... I'd never thought about learning Russian or Mandarin. I'm going to a smaller private school and they only teach French and Spanish as foreign languages. The school is up in the Chicago suburbs. Are there possibilities for me taking one of those languages at another University or JuCo in the area? (I'm just thinking out loud right now.)

Yes, writing is of utmost importance to me. I understand the need for great writers and how easily a work, if done well, can convey an idea and convince an audience of its merit. I will not and do not neglect that portion of my study.

 

[tangent4ronpaul]

I'll look into that. I definitely know how to think and learn. I've been homeschooled my whole life and have been practically teaching myself the last eight years.

Hmmm... I'd never thought about learning Russian or Mandarin. I'm going to a smaller private school and they only teach French and Spanish as foreign languages. The school is up in the Chicago suburbs. Are there possibilities for me taking one of those languages at another University or JuCo in the area? (I'm just thinking out loud right now.)

Unless you are a masochist, skip Mandarin.

The following book came out of MIT and was written so students could "pick up" the language on their own. It's an outstanding book / value. As far as I know, it's only available from one seller:

http://www.technicalbookstoreonline.com/cgi-bin/war455/index.html

Condoyannis, George E.
Scientific Russian: A concise description of the structural elements of scientific and technical German <==typo! (There is a German and French version in the series)
Huntington, NY: Krieger Publishing, 1978. new; reprint of John Wiley 1959 edition
Item # 028045

Price: $14.50

Then think about the Rosetta Stone program. It's kind of expensive, but good. You can probably find a used copy at E-Bay or get an academic discount on it from somewhere.

Third, those cheap tapes to teach a travel level of a language - basic vocabulary - they speak, you repeat... play them in your car when driving instead of the radio. It will give you some vocabulary and you will learn pronunciation.

Lastly, get some mirror texts - the same book in English and Russian. Ideally, children's books to start with. I believe Victor Kaplan is still in business
[email protected] / [email protected]
also:
http://www.russianmegastore.com/?gclid=CIqanfXH2ZQCFQKcFQodw2H-kw
http://www.bukinist.com/?gclid=CP2SqunI2ZQCFQNvHgod-hBcKg
etc.
other sources are listed here:
http://www.faqs.org/faqs/cultures/russian/info/

After you get some vocabulary down, find and hang out with some Russians. There is probably a Russian culture Meetup in Chicago.

One other tip, once you get the printed character set down, under no circumstances should you immediately learn the cursive character set like many collage textbooks have you do. It will just confuse the heck out of you. If you want to learn the cursive characters, wait till you've been using the printed characters for months and they are second nature.

The way languages are taught in this country are horrible and not how languages are naturally learned.

hope that helps,

-n

 

[Mark]

Unless you are a masochist, skip Mandarin.
The following book came out of MIT and was written so students could "pick up" the language on their own.

You can get a taste of Mandarin with MIT's Free OpenCourseWare. - (includes some mp3s)

"Foreign Languages and Literatures"

http://ocw.mit.edu/OcwWeb/Foreign-Languages-and-Literatures/index.htm

~~~~~~~~~~~~~~~~~~~~~~

21F.101 Chinese I (Regular) Spring 2006
[h4]Course Highlights[/h4]
This course features a downloadable textbook in the readings section, as well as several different types of study materials.
[h4]Course Description[/h4]
This subject is the first semester of two that form an introduction to modern standard Chinese, commonly called Mandarin. Though not everyone taking this course will be an absolute beginner, the course presupposes no prior background in the language. The purpose of this course is to develop:

• Basic conversational abilities (pronunciation, fundamental grammatical patterns, common vocabulary, and standard usage)
• Basic reading and writing skills (in both the traditional character set and the simplified)
• An understanding of the language learning process so that you are able to continue studying effectively on your own.

The main text is Wheatley, J. K. Learning Chinese: A Foundation Course in Mandarin. Part I. (unpublished, but available online). (Part II of the book forms the basis of 21F.102 / 152, which is also published on OpenCourseWare.)




21F.102 Chinese II (Regular) Spring 2006
21F.103 Chinese III (Regular) Fall 2005
21F.103Chinese III (Regular) Fall 2003
21F.104Chinese IV (Regular) Spring 2004


21F.104Chinese IV (Regular)Spring 2006
21F.105Chinese V (Regular): Chinese Cultures & SocietyFall 2003
21F.106Chinese VI (Regular): Discovering Chinese Cultures and SocietiesSpring 2003


21F.107Chinese I (Streamlined)Fall 2005
21F.108Chinese II (Streamlined)Spring 2006
21F.109Chinese III (Streamlined)Fall 2005
21F.110Chinese IV (Streamlined)Spring 2004
21F.114Chinese VI (Streamlined)Spring 2005

21F.151Chinese I (Regular)Spring 2006
21F.152Chinese II (Regular)Spring 2006

21F.157Chinese I (Streamlined)Fall 2005
21F.158Chinese II (Streamlined)Spring 2006

 

[Rhys]

i use rosseta stone for spanish and LOVE it. it's amazing how fast im learning spanish.

econ will server you very well. econ is the BEST degree to go into law school with, and I don't know why but that's what the lawyers say. also, you wont just learn keynesian. you'll learn economics axioms and such, then you can apply whichever theory you'd like. there will be tons of BS thrown your way, but you know austrian so you'll be fine. same with my sister who's econ major. she'll know what makes a good P/E ratio, and if she knows to use austrian principles in her job, she'll be very good at it.

philosophy is lame. it's interesting, but you wont learn how to think... you'll learn how to be snobby. just read some books about it instead. religion too.... WAY too subjective to trust your education to a school. you should learn yourself.

econ is science. learning from a school is good, like physics. then chose which theory you believe.... string theory or not, so to speak.

 

[WRellim]

I don't hold quite the poor view of the direction of the world, but I do take your comments to heart. I will consider them dutifully.

Years... and mileage... makes everyone tired and cynical.

If anything, battling against a Keynesian economics professor is bliss to me and will refine my rhetorical skills. I love a great argument.

The reason I want to take Philosophy is for logic and reasoning. If it's not to my benefit, I'll drop them.

That is some good advice on the programming. My dad's a compsci prof, so I've been around computers my whole life (both front-end and back-end). I'll look into that. I definitely know how to think and learn. I've been homeschooled my whole life and have been practically teaching myself the last eight years.

Hey go for it. I never saw any merit come from arguing with people that have formal degrees (and least of all least Phd's) once they get the sheepskin they are nearly always unteachable and unreachable. (The old saying about teaching pigs to sing seems to fit).


Being "around" computers is good. Understanding the hardware and OS stuff is also good. But understanding how to use the power of a computer to SOLVE problems... i.e. knowing how (properly written) programs are created to effectively solve problems; well, that is something different (and in my experience is something the vast majority of comp-sci grads never "get.")

But you give me some small hope for mankind in knowing you were homeschooled (I'm envious... I was essentially self-taught, but had to endure a 12 year sentence in the local "re-un-education" camp) -- and that you have learned how to learn means nothing can really stop you.

Hmmm... I'd never thought about learning Russian or Mandarin. I'm going to a smaller private school and they only teach French and Spanish as foreign languages. The school is up in the Chicago suburbs. Are there possibilities for me taking one of those languages at another University or JuCo in the area? (I'm just thinking out loud right now.)

Well French is pretty pointless (fun for reading Hugo and Verne, but otherwise?) Spanish might help in Central & South America, and I suppose in California or the southern US (although Portuguese would be better -- Brazil is another up-and-coming economic nation).

I just think we need to start getting prepared for the fact that a billion Chinese are becoming technically savvy. There will soon be (if there are not already) more Chinese engineers and scientists than any other language group... and if we think they are going to continue writing all of their technical papers in English; well I've got a bridge to sell on some pretty swampland, too.

I said "Mandarin" but I really don't know specifics. It is probably already too late at college age to become fluent, but I just think that even rudimentary knowledge of Chinese writing (and customs, etc) would open a lot of possibilities in business.

Much less point in learning any Euro languages... they are all niche compared to Chinese or Russian ... and heck nearly all of the Europeans speak English anyway.

Yes, writing is of utmost importance to me. I understand the need for great writers and how easily a work, if done well, can convey an idea and convince an audience of its merit. I will not and do not neglect that portion of my study.

I'm not even thinking of GREAT writing, just BASIC stuff. (Once you get out in the business world you will be shocked and stunned at peoples' INABILITY to write even a coherent sentence, much less a solid paragraph; and anything longer than a single page email is pretty much beyond 95% of the population, including most of the management.)

Cheers!

 

[Deborah K]

I read Peter Schiff's Crash Proof a while back and took his advice in it, which was pretty much the same as the OP's. (Thanks, btw) We did a few other things as well. Won't say on here, but you can always email me.

I suggest everyone get into survivalist mode and start by contacting your local RonPaul meetup groups and HAM radio groups - they are typically survivalists.