how confident does that paper dollar make you?

[themadscientist]

I am not really a foil hat guy. I wouldn't term my beliefs as "conspiracy theories," just predictable human nature exhibited by those seeking power and influence. Money is simply paper with denominations on it. It has value only because we all agree it does. That scares the hell out of me. It's your choice if you choose to ignore the implications of the fiat currency system. This is an interesting read and I hope will spark a spirited discussion about the ebbs and flows of implicative currency, hard assets and the potentials of both in these volatile times.

http://gata.org/node/7997

[JustinStrife]

I'm buying 'stock' in ammunition. I figure when the dollar goes to crap, I'll still have something that people will want/need.

[themadscientist]

I laugh as I watch the the precious metals market thinking "I wonder what lead and brass are worth right now?"

Maybe I should invest in Federal.

[themadscientist]

More interesting reading.http://www.scribd.com/doc/2241...11-09

[HashiriyaS14]

E-gold is the private transfer currency of the future, honestly.....or something like it, backed by some other commodity with greater flexibility.

I mean, we'll all still get paid in dollars or yen or whatever fiat currency, but I think that as volatility increases, people will gradually do more and more private transactions via something like e-gold.

[themadscientist]

I am leery of e-gold. It's still intangible. There is much speculation that the COMEX contracts are based upon overstated stockpiles, that each bar has been spoken for several times over. I play paper but just because I can buy and sell at the click of a mouse and maximize my profits. For true wealth preservation, you MUST have physical. Here is a 1/10th I just picked up yesterday. I know the lil guy in the middle makes me a hell of a lot more confident than the ones around it.

[seang]

After reading about the history of fiat currency, it's kind of freaking me out...

[themadscientist]

The real question is, after what you have read, what are you going to do?

[seang]

The real question is, after what you have read, what are you going to do?

Watch in horror as it all unfolds, swallowing everything and everybody I care about.

I'm poor and unemployed, so if I live long enough to make some money, I will probably take my fiat money, and buy some; gold, silver, or other REAL commodity that I would have in person, not in some shady bank in England. But the level I'm at now, my own personal pallet of gold is years in the making.
Modified by seang at 1:45 PM 1/29/2010

[themadscientist]

In your situation, I would suggest essentials like food, medicine and fuel. Stuff will get expensive and if you have a stash of essentials to weather the craziness you will be better off than 98% of the other people.

You have to take care of yourself first and foremost. Wrap your money up in real assets as much as possible.

Strength man, watch out for you and yours.

[themadscientist]

Good dip to buy some gold and/or silver on right now. Just picked up a nice JM 100 ouncer like this. Mad happy

[smockers83]

Eh, you'd be better off buying platinum right now.

Also understand that GATA believes in a conspiracy theory. I didn't read the article posted but when central banks were on the gold standard, the price of gold was heavily, heavily manipulated by governments. A move to a more fiat currency and deregulating the gold market is what has happened since.
Modified by smockers83 at 2:37 AM 1/30/2010