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Gold for dinner, the current crisis, 401K’s and poor young people
July 8th, 2010 | Credit
25 comments ↓
Should I stop contributing to my 401K? Most of my contributions are currently with JP Morgan Bonds. Is this also risky since they are one the the “Bigs” that is in bed with the FED?
why not try out the “gold bug” doctrine–with some precious metal in hand, try to trade for food or something. But, you’ll want to go to some metal trader and get some cash and currency–right? So, which is superior–gold, or dollars? A dollar is neither gold nor silver–a dollar is a unit of measurement. Would you trade your $20 gold piece for a loaf of bread? You might, . . . the exceedingly slow pace at which precious metal can be traded for food, is such a rate which will not support li
Man this guy is a doomsdayer! I think we can pull out of this mess, it will just take longer than it used to.
It is happenning, watch these videos:
/watch?v=DlGgI6z-fQA
/watch?v=4m75VTHEzcA
/watch?v=YPXncTuwFIE
WAS a beacon of Liberty and Freedom………
Glad to be the 500th rating. It’s all true, WE are property as far as the international bankers (the fed) are concerned.
Like the man said, find out for yourself.
1984=1776
Remember the Control System doesnt give a shit about you and they lie all the time.
You can trade with silver and gold. Silver is much easier to trade with. If you can’t hold either of these in your hand it could be a worthless investment.
The best asset you have is your creative ability. If you don’t know how to make something or fix it youre screwed.
If I was young I wouldn’t worry about a 401k or the market. Pay off your debt as soon as possible and save for your future purchases. Dont feed the machine any more than possible.
No actually Reagan changed the interest-deduction IRS laws to promote housing credit above all else. That was long before the mega bubble of this decade, when it was exacerbated by deregulation schemes and derivatives.
I don’t know for the life of me how you dollar doomers expect all of this horrible stuff to happen, while the US will just sit idly by. A major world crisis or continued consumer deflation may continue to prop up the dollar for some time.
The dollar is dead and everybody outside the US knows it. What they are doing is trying to mitigate the implosion so it doesn’t hurt their dollar reserves and dollar denominated assets.
USA economy 78.5 % consumer consumption
Yeah you know . we all know do not we 
Most of the other countries also have from 60-70&% of their economies based on consumptions .
Who do they consume from ???
It is so horrible that Chinese are willing to work for 50 cents an hour , but now not even that will be guaranteed . I feel terrible but it is true .
do not be afraid of China . they are absolute dead meat . you will be hearing on the news more and more about About how bad things are in China .
I talked about it a year ago and only now they talk about it on bloomberg . China is doomed man .Most people will die in China .
Do not listen to garbage on TV about prosperous China . Canada USA and Western Europe only once to survive what is coming.
impressive video….thanks.
~dave
The more I study, the more I like this guy.
THANKS BUDDY!!!
watch?v=gfgrAKS-sto
I think the major cause of the problem is too many people including government(s), have been living above their means. Not saving for a rainy day. Having savings makes the difference between bankruptcy and getting by.
The only thing that will fix it is for people to save up emergency funds and live in their means, including government.
I’m not sure if things are going to get worse, but I have been waiting for the ‘other’ shoe to drop. There will be lots of inflation.
A lot of people beat down and criticize the US. Yes, it has problems, but I think it’s more to do with waste, war and lobbyists than with supporting AIG or social programs . Yes, a lot abuse it, and some tough love could help. But the US is still a beacon of free enterprise, and freedom.
Continuing my other post, China scares the hell out of me. They pretend to be one thing, meanwhile they are building a war machine that will be second to none and propagandize their people like 1984.
I disagree. China is still communist. They allow businesses to function and allow some free enterprise. China and it’s military own lots of companies inc. a huge oil company, mining, lots of toy and industrial companies, most every company that supplies their military. Thats where china got all its money. It directs what, where, who can setup.
China has two faces. The face they show to the world and the hidden face. Russia has a system, but it’s not capitalist. Its more like Mob-ist.
Good stuff.
Another 263,000 jobs shed, but we’ve recovered.
I don’t think anyone here is saying gold is a panacea. Of course there are other things you need to do to prepare ie food and protection.
One thing people might not have thought about in regards to Gold, when things do get bad, and you’re using Gold to buy food, and other essentials, word will spread pretty quickly, and people will know where to come knocking.
I believe in Gold also, but this fact can’t be overlooked.
I liked the last part – social security is not a prudent decision in the long run
it discourages savings
If there is no one to buy food from – what good will be gold?
(Ammunition may have a role to play)
nichaeloz: You share this world with others who may very well destroy it for you. You have a responsibility to make sure others do not destroy the ground you stand on. If it requires beating them over the head, then so be it. Most people care less about wisdom. They care about instant gratification. Sometimes you have to turn off their TV or grab their XBox from them and “SCHOOL THEM”. It’s called tough love.
PS – I will listen to your reply because I don’t run away like a coward.
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