DescentBB

Everyone fears something- death, disease and catastrophe in some form.

There is, however, a special fear that haunts everyone- running out of money.
Inflation is coming and it's coming fast and hard. It will be worse than predicted
and for reasons that won't be hard to fathom.

U.S. consumers face "serious" inflation in the months ahead for clothing, food
and other products, the head of Wal-Mart's U.S. operations warned Wednesday.

http://www.usatoday.com/money/industrie ... tion_N.htm

I'm getting an icy leaded ball feeling in my gut- one of dread, because I fear this
isn't even the tip of the iceberg ahead.

NO NO NO don't try and force your fears on to me.

The Bible predicts it, so I'm confident it will happen. The only question is exactly when. It looks to me like it's looming on the horizon. I believe that a thriving and inter-connected local economy will be one of the only things that will provide shelter from the chaos brought on by foolish and downright wrong political and economic maneuverings on the national and international level. Throw in a few natural and unnatural disasters and you have the potential for some real trouble. It's a good time to be prepared.

Personally I believe that the threat of having all of this used to force changes in our freedoms or our way of life is the greatest common danger. We're being endlessly herded one way or another, if we allow it, that much is certain.

So the biggest retail store is trying to get people to think prices will go up in the near to far future?

Yeah, price inflation will occur for various reasons. However, it's to Walmart's benefit you freak out now about the future. The more, the better, to them.

edit:
On the other hand, people freaking out would increase spending for a short time, wanting to save in the future... Way to go TB! You're saving the economy!

Way to go TB! You're saving the economy!

Heh, were it only so easy.

Looks like it's time for a ★■◆● load of guns and an underground bunker.

ThunderBunny wrote:Everyone fears something- death, disease and catastrophe in some form.

There is, however, a special fear that haunts everyone- running out of money.
Inflation is coming and it's coming fast and hard. It will be worse than predicted
and for reasons that won't be hard to fathom.

U.S. consumers face "serious" inflation in the months ahead for clothing, food
and other products, the head of Wal-Mart's U.S. operations warned Wednesday.

http://www.usatoday.com/money/industrie ... tion_N.htm

I'm getting an icy leaded ball feeling in my gut- one of dread, because I fear this
isn't even the tip of the iceberg ahead.

The concept of serious inflation coming in the months ahead ... was old news even during Nixon's administration (though politics were 'distracted' by other matters at the time).

There really isn't anything new here. If you are not working your finances to protect yourself, then (financially) you've had your head buried in the sand for a long time.

If you are not working your finances to protect yourself, then (financially) you've had your head buried in the sand for a long time.

Use dollars every day? I guess you're affected.

That tinfoil hat gettin' a bit too tight again, TB?

Top Gun wrote:That tinfoil hat gettin' a bit too tight again, TB?

I bet he's employed. All that working must put strain on a man.

That's why I started buying TIPS (Treasury Inflation-Protected Securities) years ago.

tunnelcat wrote:That's why I started buying TIPS (Treasury Inflation-Protected Securities) years ago.

and what will your T-bills be worth when the government declares bankruptcy??

CUDA wrote:

tunnelcat wrote:That's why I started buying TIPS (Treasury Inflation-Protected Securities) years ago.

and what will your T-bills be worth when the government declares bankruptcy??

Beat me to it.
They're protected by the treasury, but what's protecting the treasury?

SilverFJ wrote:

Top Gun wrote:That tinfoil hat gettin' a bit too tight again, TB?

I bet he's employed. All that working must put strain on a man.

That snake in your picture got you wrapped up a bit too tight?

CUDA wrote:

tunnelcat wrote:That's why I started buying TIPS (Treasury Inflation-Protected Securities) years ago.

and what will your T-bills be worth when the government declares bankruptcy??

That's the risk, isn't it? But what is there anymore that's not risky or safe? Bank accounts, no interest rates worth spitting at. Stocks, volatile and unpredictable, AND the cards are stacked against the lone investor with no inside knowledge. Bonds, at the whim of inflation or deflation and defaults. Under the mattress, it's fire or theft. Pensions, they're under assault too. In fact, the new trend is for corporations to get rid of their insured pension liabilities by converting them to life insurance annuities, WHICH ARE NOT INSURED. It's being worked on right now. All one can do is hedge ones bets. If we get government bankruptcy, we're screwed anyway and no amount of money will matter because the country will be in violent revolution and things will be in the tank.

Out of all of those, fire and theft are the two things you and I have the most control over.

Sergeant Thorne wrote:Out of all of those, fire and theft are the two things you and I have the most control over.

Actually, not even with those 2 places do we have full control over. You can't stand around and protect your home 24/7, and you can't predict if some electrical short is going to happen at any random time and start a fire.

I realize that, but all precautions are under our own control.

Things may be starting to accelerate: Toxic Dollar: Why Nobody Seems to Want US Currency

http://www.cnbc.com/id/42479791

Gold is over $1,400 an ounce now. ($1,473 last I checked.)

The dollar has lost nearly 30% of its value relative to gold over the past 2 years.

SilverFJ wrote:Looks like it's time for a **** load of guns and an underground bunker.

To hell with the bunker. When the time comes use the guns to take the WalMart and use it as a base. You can stay supplied and use goods out of it to attract, hire and feed your new army. Hell, they even have gas pumps at most of them now!

Gold is over $1,400 an ounce now. ($1,473 last I checked.)

The dollar has lost nearly 30% of its value relative to gold over the past 2 years.

Yeah I noticed about 5 years ago a big reemergence of buying back all the gold. Sound familiar? I think there's fixing to be a currency change and they are going to use the gold to devalue the dollar. Yay we can all get our own personal pin numbers at birth now

flip wrote:Yay we can all get our own personal pin numbers at birth now

Please explain how you came to this conclusion.

null0010 wrote:

flip wrote:Yay we can all get our own personal pin numbers at birth now

Please explain how you came to this conclusion.

I'm guessing that alcohol played a role somewhere......

It was speculative based upon the current trend

flip wrote:It was speculative based upon the current trend

Yes, but how did you arrive at that conclusion? Show me the hypothetical causal chain between now and "pin numbers at birth."

Sometimes I wonder if Null talks to people like that at parties.

But seriously (and hypothetically), it's getting to the point where working with cash in America is a chore for a lot of people, and it costs us so much to actually print the paper money I see some things changing. (At least that will be the excuse to do it.) Sooner or later all the money in the country will be digital, and the way banks and the government are individually headed (banks fail, government runs everything it can), it will be just like your SSN, except it will be for your money. Truth is, I believe, is that the government will use this to have a stranglehold over people's money.

If currency does change I believe it will be done cashless from that point on. Everything done electronically with cards initially. Right now you have a SS #, LIC# etc..., and with the huge exponential growth in the population, keeping track of everybody's finances....etc. is made much simpler be just having 1 single # at birth.Just a theory but, It's what I would do anyways.

null0010 wrote:

flip wrote:It was speculative based upon the current trend

Yes, but how did you arrive at that conclusion? Show me the hypothetical causal chain between now and "pin numbers at birth."

do you have any kids????? they issue your SSN at birth now

CUDA wrote:

null0010 wrote:

flip wrote:It was speculative based upon the current trend

Yes, but how did you arrive at that conclusion? Show me the hypothetical causal chain between now and "pin numbers at birth."

do you have any kids????? they issue your SSN at birth now

I am too young for children, but I would have to argue that a SSN is not quite a personal identification number. It's intended purpose is to mark an individual in the social security system, it is only because of its usefulness at providing identify that it is used as a de facto identification number.

SilverFJ wrote:But seriously (and hypothetically), it's getting to the point where working with cash in America is a chore for a lot of people, and it costs us so much to actually print the paper money I see some things changing.

I don't know where you live, but that may be true for urban/suburban areas, but not in some of the more rural areas that I hang out in. I still deal with some businesses that don't even take cards. I think we are very far from your fears being realized, and suspect such a change would have to be far wider in spread than our nation alone.

(At least that will be the excuse to do it.) Sooner or later all the money in the country will be digital, and the way banks and the government are individually headed (banks fail, government runs everything it can), it will be just like your SSN, except it will be for your money. Truth is, I believe, is that the government will use this to have a stranglehold over people's money.

well, that's a pretty cynical view. I suspect it would never fly in the US, given our mindset. It is sort of interesting to look back on currency in general. I was in attendance at this historical gathering down on the Shore in VA a few years back, and discussed the evolution of commerce which my forefathers saw. When my earliest relatives were alive, tobacco was the sole currency. On paper, you had the British pound, but with a sparsely settled colony, no banks or other outlets to transact it. Tobacco was the only thing they had of true trading value, and hence land was purchased, debts settled, supplies procured, all in pounds of tobacco. That evolved over time to local banks with local currency, to the point of a national currency standard, which has been backed by gold, silver or merely faith in repayment.
You go to other civilizations and currency was everything from carved rocks to livestock. Odd, that things change constantly over time, yet we fear the unknown which change entails, as witnessed by some of the comments in this thread. Sometimes they ARE out to get you, but mostly it's just paranoia.

Would the Patriot Act have flown in this country if proposed on Sept 10th,2001? Don't ever underestimate the stupidity of people when put under extreme duress. They will hold you under just to have something to float on or trample you to death in a panic.

flip wrote:Would the Patriot Act have flown in this country if proposed on Sept 10th,2001? Don't ever underestimate the stupidity of people when put under extreme duress. They will hold you under just to have something to float on or trample you to death in a panic.

well put, but isn't that what we have to remain vigilant against. An educated populace prevents such abuses.
Jefferson knew that much, many of us have forgotten it.



note: edit because I stupidly pasted text for another post into this thread. Ooops!

callmeslick wrote:

flip wrote:Would the Patriot Act have flown in this country if proposed on Sept 10th,2001? Don't ever underestimate the stupidity of people when put under extreme duress. They will hold you under just to have something to float on or trample you to death in a panic.

An educated populace prevents such abuses.
Jefferson knew that much, many of us have forgotten it.

Tell that to the Iranian people.

your point? I thought we were discussing monetary issues in the US. If Iran is pertinent, it would be as an example of Jefferson's point which I cited. A huge population of marginally-educated people equates to a society which can be yanked around by a handful of leaders and/or thugs.

Point is Iran has one of the higher literacy rates going yet they have security apparatus much worse than what we do. So your education defeats abuses does not fly.

simple literacy does not equate to education.

Ahhh...the infamous caveat.

woodchip wrote:Ahhh...the infamous caveat.

caveat? No, just a straightforward definition. I don't define merely learning to read and write the language on a basic level to be the same as actual education, which provides both context and skills by which to continue learning throughout life.

Hell, just stepping outside your front door quickly reveals that there are plenty of people out there who can read and write but are still as dumb as bricks.

Back to the "educated folk -> abuse-resistant" assertion: slick, is there a population you would cite as an example for this? (I personally think education is a hugely important factor, but education != power.)