Pay off debt, stash cash, buy gold, or buy supplies?

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  • Tue, Jul 13, 2010 - 12:54am

    #31
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Pay off debt, stash cash, buy gold, or buy supplies?

[quote=Davos]

“…how insanely greedy these (V don’t read this next word) morons got…. [/quote]

Thanks for the laugh, Davos!  It’s good to get some [comic] relief from the stress of the times!

  • Tue, Jul 13, 2010 - 02:04am

    #32
    Peak Prosperity Admin

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    Re: Pay off debt, stash cash, buy gold, or buy supplies?

If in central VA.(SHTF moment)and in need of food, we don’t take american express, you

had better bring your PM’s.

I enjoy this site,robie

  • Tue, Jul 13, 2010 - 02:36am

    #33
    Peak Prosperity Admin

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    Re: Pay off debt, stash cash, buy gold, or buy supplies?

[quote=robie robinson]

If in central VA.(SHTF moment)and in need of food, we don’t take american express, you

had better bring your PM’s.

I enjoy this site,robie

[/quote]

robie,

If certain people are really desperate for food, they won’t be dealing in precious metals, they’ll be dealing in a base metal … moving at high velocity.

  • Tue, Jul 13, 2010 - 03:26am

    #34
    Peak Prosperity Admin

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    Re: Pay off debt, stash cash, buy gold, or buy supplies?

ao,

Too right.

Metals are a long game strategy.
Resources and the ability to defend them are paramount in the interim.

Cheers,

Aaron

  • Wed, Jul 14, 2010 - 04:15am

    #35
    Peak Prosperity Admin

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    Re: Pay off debt, stash cash, buy gold, or buy supplies?

Anyone from the UK have any input?

My plan is to sell our house on the outskirts of London, buy several acres of land in the West country (fertile), invest in skills (straw bale housing, animal rearing etc), keep my job in London and rent there, build eco-house on the land (full solar/wind etc) and then if/when things tank we have somewhere to go. If some good fortune comes our way then we may come into some money before the SHTF in which case we can quit and move there and start growing and get some animals (chickens, rabbits, pigs) and embrace trees. Even if the SHTF before we’ve had a chance to build, we can always stick a caravan on the land. And if it doesn’t we have some nice land.

All this is based on the strategy of ridding ourselves of our only debt, the mortgage, and then the remaining money we get from the sale of our house to fund our eco-pad. By continuing to work this funds the skills learning, subsistence and potential building cost overuns (solar etc isn’t cheap). I’m not anticipating money left over for PMs so the plan is to be self-sufficient or have something to trade, like food.

Does this strategy make sense? Any suggestions? (i know nothing about the stock market)

Incidentally, any suggestions for sensible land acreage? More gives flexibility but could be hard to defend (and i dislike firearms)

 

  • Thu, Jul 02, 2015 - 06:53pm

    #36
    Ranger1

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    Surviving in the future world

Creativity and being flexible in every aspect of life is MUY Important.  When the economy zig / zags (takes the big dump) don't be on the short end.  Have cash, gold/silver, 3 or more months of food, a source of water, weapons to defend yourself, places to hide if attacked or a well defensible home.  I am fortunate in that I have a fort for a home, escape routes and limited areas I have to defend.  I also have a dog that hears everything (cats, people walking down the street at night, cars stopping nearby, other dogs who pre alert him that something is coming ( even if it is just wildlife )

I learned in the military to be aware of everything, everywhere and ALL the time.  Know who is walking behind you.  Observe those who are approaching you for tell tail behavior.

Walk around unusual structures, people, devices (Things that just do not belong).

When I heard a 'bee" buzz by my right ear while in VietNam, I immediately questioned that.  I looked over my shoulder and saw dust kicked up by a bullet half mile down the road.  I immediately hit the ditch and as I turned I heard (another bee) go by my left ear (more likely behind me) as I had already moved enough that I did not get hit face on.

If you are always a bit paranoid it means that you are paying attention.  If you are wrong in your assumption / reaction you are still alive.  If you are more concerned about appearing paranoid then you are possibly dead in short order.

It pays to be paranoid.

It pays to be super alert

It pays to be prepared financially, and have (Food, Water, Weapons and Safe places to disappear to).

  • Thu, Jul 02, 2015 - 07:16pm

    #37
    Ranger1

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    Yes to all of the above (and more)

Screw your student loan, mortgages, etc.  When the SHTF the banks (etc) will have thousands of people who will not be able to pay them.  You can probably not have employment income so forget that.  YOU NEED a stash. 

Money, Gold, Food, Water, Guns ETC. 

The bank ain't going to come collecting and your credit ratings won't mean SQUAT. 

First things first.  Water,  –   Second Food,  –   Safe place to live.  

Immediate plan followed by long term plan.  Is your home defendable?  Do you have things you can barter with?  Can you defend yourself?  Can you find alternatives to needs – like eating.  Can you eat a bug, a dog/cat, roots?

In the extreme, man has had to eat other people (preferably those already dead)  — You need friends to help you and visa versa so buddy up with someone creative.  Your best friend must be creative and not a dim wit.  Between you and others(creative types), you can come up with great solutions in time of need. 

I have a neighbor who (a nice person) is actually a dim wit.  She will die because she only eats, thinks and acts as if this is the 50's.  She has not prepared and keeps saying she will save $25 this month for emergencies.  Meanwhile she spends HUNDREDS on gardeners, mechanics, maids etc.  She doesn't know how to do anything but make a phone call when she needs help.

  • Thu, Jul 02, 2015 - 07:27pm

    #38
    Ranger1

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    Pay of debt?

Are you insane?  NOBODY is going to pay you when things go south.  Banks won't be able to collect on mortgages.  Business will be out of business.  THERE IS NO WAY that businesses of any kind will be able to collect on debt and THEY will be the first to know that fact.  They will close their doors and move far far away and you will never hear from them again. 

 

  • Thu, Jul 09, 2015 - 04:39pm

    #39

    Aaron M

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    Ranger1 wrote:Are you

[quote=Ranger1]

Are you insane?  NOBODY is going to pay you when things go south.  Banks won't be able to collect on mortgages.  Business will be out of business.  THERE IS NO WAY that businesses of any kind will be able to collect on debt and THEY will be the first to know that fact.  They will close their doors and move far far away and you will never hear from them again. 

 

[/quote]

With all due respect, what your saying has never happened. There's no reason (at all) to believe that debts and debtors will just disappear. I don't disagree with your priorities, because they address emergencies pretty laterally, but you're approaching this as if you know what's going to happen. You don't. None of us do.

Cheers,
Aaron

  • Thu, Jul 09, 2015 - 04:59pm

    #40
    Time2help

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    Here

[quote=A. M.]

With all due respect, what your saying has never happened. There's no reason (at all) to believe that debts and debtors will just disappear. I don't disagree with your priorities, because they address emergencies pretty laterally, but you're approaching this as if you know what's going to happen. You don't. None of us do.

[/quote]

We've never been anywhere remotely near here before.  Not at this scale.

None of us has any idea how this going to roll out, globally or locally.

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