Economic Downturn Warning
- Thread starter Abdicate
- Start date
Ok. My question is, how do we protect ourselves?
Some practical advice: Get out of debt as soon and best as you can, Rom 13:8. Have some silver on hand (it's only $18/oz right now, which is insanely cheap) and most importantly, remember the Lord, Psa 91.
Here's a good site: http://www.nasa.gov/centers/hq/emergency/personalPreparedness/index.html
Here's a good site: http://www.nasa.gov/centers/hq/emergency/personalPreparedness/index.html
Amen to that, Abdicate, about remembering that God has everything in the palm of His hand. My husband watches way too much "news," and nobody talks about praying and returning to God as a nation. Depressing, and I just plug in my worship music and return to the dishes/laundry for some solitude.
My husband also talks about the silver and gold investments, because that is being advertised greatly. Many companies, and, I suspect, opportunities for scammers. Any suggestions for a trustworthy place for silver?
My husband also talks about the silver and gold investments, because that is being advertised greatly. Many companies, and, I suspect, opportunities for scammers. Any suggestions for a trustworthy place for silver?
Before you do anything, pray about it. If you and the Spirit are in agreement with your husband, get it from whoever sells the currency, like silver Canadian Loons or gold Swiss Francs, which is what I have. You never want to buy "shares", you want the physical stuff. I bought my gold from Goldline. I called them, got a quote, hung up, searched. I found, at the time, they had the best value for the overhead cost - 1%. That is, if silver was at $20/oz, they'd sell it for $20.02. When they'd call to try and sell more, I told them, "Nope, I'm done. Please don't call back." and they didn't. I had the same salesman for all my transactions. The bad part is where to store it. Safety deposit boxes in multiple (different) credit unions I thought would be best since I travel so much. There might be better ones out there, I just haven't looked in a while.
Excellent advice!!! Dept free is the key!!!!!
As for gold and silver. Remember that the value of metals is only what it is to the owner.
At the end of the Weimar Republic, currency was useless. The old joke, but true, was that there was a man that went to buy bread at the store. With his wheelbarrow of money, he went in, got the bread, and when he came out, the wheelbarrow was gone and a pile of money was lying on the sidewalk. When currency fails, as it did in in Germany, and even as recently as Detroit at one point, the barter system automatically kicks in. The next form of transactions is gems and precious metals. In a broken economy this is the progression of all post-thriving economies. $1's worth of goods in 1940 will cost you today $16.91. The more debt we put on (and Pres. Obama has added more than the combined debt from George Washington to George Bush) the worse the ending. The Treasury Department has borrowed bond money to pay the interest on this $17T debt. By definition this is a Ponzi Scheme - remember Bernie Madoff? The ONLY thing holding us together is the Petro-Dollar (everyone must buy or sell using U.S. Dollar) and that others are collapsing first.
Get out of debt. Sell stuff if you have to, but get out of debt, now.
Get out of debt. Sell stuff if you have to, but get out of debt, now.
Then I was right to double up on mortgage payments to have our house paid off 3 months before I retired in 2010, and also to have the note on my son's car paid off (was in my name). I personally am debt free. My husband owes on the car, which I insisted be in his name only, since I never would have bought that expensive a vehicle. Anyway, thanks for all the advice. And please pray with me that my husband's eyes be opened to the logic of saving and careful spending.
So if the economy collapses, why will having any personal dept make any difference?
You mean debt? Until the gov and banks collapse, they'll try to survive by taking back what you owe or demanding the debt be repaid with other assets. Deflation is coming because what we've been doing in the U.S. (printing money aka IOUs) for the past decade, Europe said the were going to do soon by printing $1.1T worth of Euros and look what happened today - the Euro plunge.
Yep, debt, my bad :/
Are they going to try and make a new currency backed by gold and silver?
P.S. This isn't a joke, it's prophecy:
Revelation 6:6 (KJV)
And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and [see] thou hurt not the oil and the wine.
A penny here is a denarion, a day's wage. If you make $15/hour and you work for 8 hours, you'll have $120 before taxes. What this verse means is that in today's money, a quart (4 cups) of wheat will cost you $120. That's inflation! 1 lb of wheat yields roughly 3 cups of flour. You need 2.5 to 3.5 cups of flour to make 1 loaf of bread. So 1 loaf of bread will cost $120.
Now this may take some time, but it's coming because the word of God says so.
Revelation 6:6 (KJV)
And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and [see] thou hurt not the oil and the wine.
A penny here is a denarion, a day's wage. If you make $15/hour and you work for 8 hours, you'll have $120 before taxes. What this verse means is that in today's money, a quart (4 cups) of wheat will cost you $120. That's inflation! 1 lb of wheat yields roughly 3 cups of flour. You need 2.5 to 3.5 cups of flour to make 1 loaf of bread. So 1 loaf of bread will cost $120.
Now this may take some time, but it's coming because the word of God says so.
Nope, just another "dollar" called BRICS or something else. Once we decouple from oil being sold by US Dollars, that's it. The man on the street wants the real stuff - gold coins or silver, not more useless paper. I figure soon it'll become illegal to own gold, like before.
Yeah, I read about that recently, how gold was illegal and they went around collecting it; even men and womens wedding rings.
Another question; is the reason for the U.S. warring in the middle east because those countries want to sell their oil without using the petro dollar?