Foreign currency in a disaster scenario..

This is a discussion on Foreign currency in a disaster scenario.. within the Off Topic & Humor Discussion forums, part of the The Back Porch category; We've discussed a lot here about our "disaster" bags, amount of ammo to have on hand, types of firearms, water, food, first aid, 4X4's, etc., ...

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Thread: Foreign currency in a disaster scenario..

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    Senior Member Array walvord's Avatar
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    Foreign currency in a disaster scenario..

    We've discussed a lot here about our "disaster" bags, amount of ammo to have on hand, types of firearms, water, food, first aid, 4X4's, etc., but has anyone thought about if the dollar becomes totally worthless would another currency be good to have on hand. If the dollar is worthless, I know there will probably be a lot of bartering going on, but how about having some Euros on hand or Swiss Francs, or some other country's currency?
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    Senior Member Array Roadrunner's Avatar
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    If things go so far bad that the dollar has become worthless I think the entire world economy will have tanked. At which point things will probably look like an apocalypse movie from the '80s.
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    VIP Member Array JAT40's Avatar
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    Good Question, when the dollar tanks I would think other currencies would also be highly devalued. Gold, silver and other bartering goods like ammo and also services will be the way to go. With world wide economies in chaos it would be very difficult to put any value on paper currency. Best move to make is to buy now what you will need latter while the dollar still has value. IMHO
    While people are saying "Peace and safety," destruction will come on them suddenly, ... and they will not escape. 1Th 5:3

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    A good idea IFF you need tinder to start a fire.........Otherwise gold, silver, ammo, medicines, or other type items good for barter in a currency de-valued environment.

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    Gold will always be a form of 'trading power'.

    Those with the firepower can also get the gold...
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    Those with the firepower can also get the gold...
    or at least keep what they've got
    I would rather stand against the cannons of the wicked than against the prayers of the righteous.


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    Restricted Member Array SelfDefense's Avatar
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    I am a firm believer in gold. I have been buying physical gold for years and only recently has the price been artifically depressed. I'm not sure what that means but gold is in heavy demand and most dealers are unable to meet the demand. Still, the price is falling. Why?

    Interestingly, I have seen and heard more commercials for gold recently than ever before. It is a fascinating time in the gold market.

    Other currencies? Not a chance. The US dollar is, and will be, the standard for fiat currency.

    I'll sell you some yuan and pesos if you want...

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    Thats the real problem...its a fiat currency, not backed by anything other than faith in the government.

    Losing faith in that government could take all of a day...and then once again gold will be king...at least until the feds outlaw it like they did the last time and take all that they can while calling it "contraband".
    I would rather stand against the cannons of the wicked than against the prayers of the righteous.


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    Restricted Member Array SelfDefense's Avatar
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    Quote Originally Posted by HotGuns View Post
    Thats the real problem...its a fiat currency, not backed by anything other than faith in the government.

    Losing faith in that government could take all of a day...and then once again gold will be king...at least until the feds outlaw it like they did the last time and take all that they can while calling it "contraband".
    That's exactly right. I think everyone should have 10-15% of their net worth in physical gold. Not as an investment, but rather as insurance and assurance.

    It might surprise many but under Roosevelt's administration the Federal government actually drilled into people's safety deposit boxes stored in banks to confiscate gold. And Obama makes Roosevelt seem a conservative.

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    Quote Originally Posted by SelfDefense View Post
    Still, the price is falling. Why?
    De-leveraging

    Quote Originally Posted by SelfDefense View Post
    I'll sell you some yuan and pesos if you want...
    You have some? Sorry, couldn't resist....

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    Senior Member Array stanislaskasava's Avatar
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    Quote Originally Posted by SelfDefense View Post
    I am a firm believer in gold. I have been buying physical gold for years and only recently has the price been artifically depressed. I'm not sure what that means but gold is in heavy demand and most dealers are unable to meet the demand. Still, the price is falling. Why?
    I have no idea how the price of something can be 'artifically depressed'. Perhaps people are buying gold on a whim and then selling for a cheaper price the next day, when they have second thoughts. This 'hot potatoe' cycle could explain high demand ('bargain' prices), low supply (constant movement) and falling prices (dumping a bad investment ASAP) all co-existing. It is common advice to never buy anything you don't understand.

    Luckily for me, I don't have any money to make poor investments with.

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    Restricted Member Array SelfDefense's Avatar
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    Quote Originally Posted by Rock and Glock View Post
    De-leveraging
    Can you elaborate? I understand that derivatives were supposedly the reason for the price rise and that unwinding the derivatives leads to price deflation. But unlike other financial instruments like stocks, gold actually has real value and can be acquired and stored.

    When demand goes up for the physical metal, the price should rise. What I have seen, and is probably the case around the country, is that gold is available but is being sold for ~20% over spot. That makes for a very illiquid market where price becomes irrelevant.

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    If the dollar fails Rosetta Stone would also be a good investment.
    Americans will need to learn how to speak Chinese.

    Ditto: Invest in some physical Gold metal.

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    Ex Member Array Ram Rod's Avatar
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    Canned goods and ammunition. Currency? Good for starting that campfire.

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    Don't forget if you are barttering and things are in limited supply Toilet paper good be well worth more than gold.

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