In a TOTAL banking meltdown..............

[On Our own]

Can we revisit some of these ideas?

I know people dislike resurrected threads, but I think it is good to revisit what we were thinking and what the economy has actually done.

I think the oligarchy is still winning. The banking industry is largely insolvent and the US is insolvent, but in neither case do there appear to be any signs of failure. It goes back to that confidence issue.

I have gotten back into stock, (not banking for certain) and only with cash I can live without. But, instead of saving like I used to and as many people are now starting to do I for one am spending! I want tangibles for my dollars.

I don't see a total meltdown for the next 30 years. they can prop this zombie up for that long. But, inflation will come, it pretty much has to. So I am spending now on long term investments and buying some long term stocks that are undervalued for now. No oil, no banks, no insurers.

What about you guys? What say you now three months later?

 

[SKR8PN]

We are spending as well. Ammo, food, canning supplies,diesel fuel, larger propane tank that we now own, and a new shed that I can add a totally solar greenhouse to this fall. We are also setting up a close knit bartering network with other like minded folks, just in case.
Anybody wanna buy a street legal race car?

 

[big brown horse]

I'll trade a roto tiller for a few sheep!

 

[k0xxx]

With the predictions for inflation that I have been reading about, we are purchasing things that we know that we'll need down the road for projects. We are buying fencing, building supplies (especially lumber, which at least locally, has seen a drop in cost), reloading supplies, some spare parts for the tractor, etc.

These are all things that I know that I will be using, so if inflation isn't as bad as we are being told, I haven't lost anything. If it is, then we're a bit ahead of the game.

In my totally uneducated opinion, I can't see us NOT having severe inflation, if not a total banking meltdown. I base my opinion on the fact that the Fed is now printing money, and then borrowing that money from itself. This "monetizing of the debt" has never worked any time it has been done in history. I have no confidence that it will be successful now.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
- Thomas Jefferson

 

[Javamama]

We're spending a little too. Fencing, animal supplies, gardening supplies, canning supplies, supplies, supplies, supplies Supplies is a weird word when you write it so many times.
I am also trying to convince DH that an old pickup truck would be useful. We could get more supplies in fewer trips.

 

[On Our own]

Yeah, that is what we are doing too. Bought a generator and canning supplies. Took a canning class. Bought lumber and hardware. Stocked up on some food stuffs but not as much as I would like.

Currently looking to buy a car. GM anyone?? We bought new hitches for the tractor and a new tiller. Made a deal with some one to use his larger trailer for hauling. I am not looking at total meltdown, just inflation that would make money not worth so much......

 

[noobiechickenlady]

With the predictions for inflation that I have been reading about, we are purchasing things that we know that we'll need down the road for projects. We are buying fencing, building supplies (especially lumber, which at least locally, has seen a drop in cost), reloading supplies, some spare parts for the tractor, etc.

These are all things that I know that I will be using, so if inflation isn't as bad as we are being told, I haven't lost anything. If it is, then we're a bit ahead of the game.

In my totally uneducated opinion, I can't see us NOT having severe inflation, if not a total banking meltdown. I base my opinion on the fact that the Fed is now printing money, and then borrowing that money from itself. This "monetizing of the debt" has never worked any time it has been done in history. I have no confidence that it will be successful now.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
- Thomas Jefferson

Couldn't have said it better, adding my amen to this

 

[On Our own]

Love your signature line! My friends are all politely amused, while in the other room discussing if I have lost my few marbles.

 

[On Our own]

And what to make of this little attempt to stock up and "float" the market??


http://www.bloomberg.com/apps/news?p...d=auE79A8VeBis

By Alaric Nightingale

June 3 (Bloomberg) -- JPMorgan Chase & Co., the second- largest U.S. bank by deposits, hired a newly built supertanker to store heating oil off Malta, shipbrokers reported, in the companys first such booking in at least five years.

The bank hired the Front Queen for nine months, according to daily reports from Oslo-based SeaLeague A/S and Athens-based Optima Shipbrokers Ltd. David Wells, a spokesman for JPMorgan in London, declined to comment.

JPMorgan, which has never hired an oil tanker based on data compiled by Bloomberg going back five years, follows companies including Citigroup Inc.s Phibro LLC unit and BP Plc in hiring ships to store crude or oil products at sea. The firms are seeking to take advantage of higher prices later in the year.
.....more

 

[noobiechickenlady]

LOL! Thanks!
"Chickens? In your HOUSE?!?!"
"You made cheese? On purpose???"
"What does it mean to harvest rainwater? What are you gonna do, drink it?"

Just a few of the funnies I've heard.