Possible Federal Reserve failure mentioned on CNBC

[HSmomto4]

I agree completely. My feeling is that hyperinflation will happen. Still an outside possibility of deflation, but I'm doubting it.

I also feel you are right. In order to bring about a north american union with a common currency, they will have to devalue the dollar to nothing. US and, to a lesser degree canadian standards of living will have to come down, Mexico will come up and we will all be one big happy Amero family.

So, if we can hang on to our jobs :pray, live without all the bells and whistles :ohno, stock up on food and supplies...we could be OK because we listened to the promting of the Holy Spirit to prepare the best we can.

[Rondaben]

So, if we can hang on to our jobs :pray, live without all the bells and whistles :ohno, stock up on food and supplies...we could be OK because we listened to the promting of the Holy Spirit to prepare the best we can.

Lol, hopefully. I don't think it will play like that, but no need to scare folks.

[newskinagain]

I haven't been as smart as most people here and I have an expensive house and cars and I do not have assets except for some cash I could turn into silver.
Since it looks like a good credit score isn't going to be important should I turn the house and cars back to the bank and not pay those bills anymore, and hunker down in an apartment or look to live with someone who owns a home (and a garden)?

[Rondaben]

I haven't been as smart as most people here and I have an expensive house and cars and I do not have assets except for some cash I could turn into silver.
Since it looks like a good credit score isn't going to be important should I turn the house and cars back to the bank and not pay those bills anymore, and hunker down in an apartment or look to live with someone who owns a home (and a garden)?

Thats a hard question to answer. I'd defer to what the Holy Spirit leads you to do. I can tell you what My family and I are doing.

We to have a relatively expensive house...at least what I feel is expensive every time I pay the mortgage. We have older cars. I have some silver--not nearly as much as I would like however. We are realistically looking at the cost of living here, my salary and the likelihood of how much electric, food and gasoline is likely to go. We have come to the conclusion that we won't make it here, especially after next years property tax comes around. We have purchased a small house with an acre of land far away from the city (population 224!) that will close on Monday. We spent our savings and paid cash for it ($9500!). Once we get it liveable we are moving. The house goes on the market then and it is up to God to sell it.

In the meantime I have begged and borrowed for a 3 month moratorium on the mortgage. After the 3 months all will come due at once. That saves the mortgage payments and gives some time to get it sold or, if necessary, short sale the house. If not then yes, they can have their keys back. Its a house. Four walls and a roof. It's not worth risking my family's well being over.

[HSmomto4]

If inflation hits, what will land prices look like? I mean if you do have cash would land value go up or down?

[newskinagain]

Thank you Rondaben, you gave a good answer.
Could you post where to buy the silver coins, you may have somewhere else?

I am so thankful for people like you posting information that makes a huge difference in understanding what is going on.:praying for doing the right thing for all families. :hug

[Rondaben]

If inflation hits, what will land prices look like? I mean if you do have cash would land value go up or down?

The cost of all assets in dollar terms will go up and go up rapidly. Example of this can be seen from Weimar Germany and even more recently in Zimbabwe, Argentina and Hungary. Inflation in Germany was such that people were paid multiple times per day. Family members would wait for the money, run to the store and buy whatever they had. If they waited until the next pay hour, the money they had made previously would be virtually useless. Stacks of 1000 Reichmarks were burned because they would burn longer than the firewood that they would buy.

Thank you Rondaben, you gave a good answer.
Could you post where to buy the silver coins, you may have somewhere else?

I am so thankful for people like you posting information that makes a huge difference in understanding what is going on.

Thank you for your kind words! They are very humbling. I'd be clueless without the prompting of the Holy Spirit.

I purchase generic silver rounds from APMEX.COM . I have never had any problems. Don't buy the gold or silver eagles as you will pay a numismatic premium. All of the generic rounds are mint stamped with purity.

Another option is to buy the mixed bags of US coins that have silver content. They will be worth more and probably will be a decent form of barter because of the silver content. THey are also cheaper I believe.

[Tammy]

Ok Rondaben I went to APMEX.COM. My question will show how little I know about this. They had 1oz Fine Silver Round is this what you are buying and how many coins is that?

[Rondaben]

Ok Rondaben I went to APMEX.COM. My question will show how little I know about this. They had 1oz Fine Silver Round is this what you are buying and how many coins is that?

No problem Tammy. They are not monetary coins, they are simply bullion that is made into "coin" forms. They have no value to purchase anything. They simply hold their value and you can sell them at any time.

You can find the "spot" (current market price) for silver on any business site like bloomberg. My favorite market site is INO.COM. You will pay a few cents over spot when you buy and will sell for a few cents under spot. That's how the company will make their money.

I don't know how long delivery times are now for APMEX or any other company. When you get ready to order, ask how long until it will be shipped. Some companies are up to 6 months behind...that means they are likely in trouble and have gotten bit buying on margin. You may not get your silver OR your money back on them. If it's more than a week for delivery, then don't order. APMEX has always had it in the mail to me the next business day.

[deanne53]

Rondaben are you talking about the .999 silver rounds shape coins, that they do for holidays, birthdays, or any other occasion? If you are you can get then sometimes at Jewerly stores or coin shops. Both of our area coin shops sell those.