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(Think Progress)   Do you still have money in your bank account? You might want to withdraw it until after October 18th. You see, the thing with bank runs is you don't want to be the last one there   (thinkprogress.org) divider line 234
    More: Scary, bank accounts, Sen. John McCain, Christine Lagarde  
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18432 clicks; posted to Main » on 08 Oct 2013 at 5:35 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-08 06:21:41 PM  

mediablitz: Isitoveryet: Russ1642: Gold is worthless when everything goes for shiat. Food, water, the bare essentials become very valuable. You hold onto gold so that when things recover you can have some of your lost wealth back.

that makes more sense.

actually i seldom consider a recovery from something so socially catastrophic.

you're a glass half full kind of guy.

Copper is going to be MUCH more valuable than Gold, and much sooner. Maybe way down the road gold will be somewhat valuable, but a complete social collapse? Gold won't matter.


That's why I'm hoarding bitcoins.
 
2013-10-08 06:22:34 PM  

mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.


TP, batteries, canned goods, booze and bullets. Also, warm clothes, fuel, and medicines.

Gold is only valuable because we believe it does. As a starving man what's more valuable: gold or food.
 
2013-10-08 06:22:52 PM  
Six months ago: "Gold will hit $3000! Buy Now!"

Today: "Gold is cheap!!!! Buy Now!!!!"

lol
 
2013-10-08 06:23:37 PM  

Pointy Tail of Satan: Six months ago: "Gold will hit $3000! Buy Now!"

Today: "Gold is cheap!!!! Buy Now!!!!"

lol


This rock is m,ore valuable than that rock.

lol
 
2013-10-08 06:23:51 PM  

Russ1642: Isitoveryet: TheDirtyNacho: I would hope people who buy gold as a doomsday currency would actually have it in their possession, or buried where they know where it is.

Some people do actually buy gold as a financial hedge, though I think its a somewhat poor investment that is subject to many whims. Sort of like buying a single stock - easy to manipulate by outside forces.


but that's just it!

as far as i know (i my knowledge is limited, to say the least) everyone who invests in gold against the value of the dollar are left with nothing to show for it in a situation where the dollar actually goes to shiat.  that value (gold) only has value (real monetary value) in a stable economic environment.

there'll be some guy standing behind me in the food lines with some heavy metal in his pocket.


/buy low sell high

Gold is worthless when everything goes for shiat. Food, water, the bare essentials become very valuable. You hold onto gold so that when things recover you can have some of your lost wealth back.



Right, or 'recover somewhat', ie a couple of years down the road when people settle in to their new roles in the wasteland.  A buried cache of gold used for trade might have some utility then.  Or it might not.  But, strictly barter economies tend not to last long because it's kind of annoying and inefficient.
 
2013-10-08 06:24:22 PM  

feanorn: Money is a useful fiction, and we can always make more. And the more I think about it, the more I like the whole Coin of Massive Value idea, but expanded: make a few of them, pay off our debts with them, then refuse to break them for change or allow them to be deposited. Their holders can then put them up on eBay and get at least some of their investment back.


Because tricks to devalue our debt is going to increase faith in our currency
 
2013-10-08 06:25:06 PM  

mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.


Every civilized society relies on some sort of currency to facilitate transactions. Gold has played that role for thousands of years. Other things will be important in a doomsday scenario such as food, water and weapons. I wouldn't suggest buying gold to the exclusion of everything else, but it would likely play a very important role as a medium of exchange.
 
2013-10-08 06:25:27 PM  

highendmighty: Oh.  Think Progress.  The left's version of WND.


No it's not.  Liberal sites usually do a good job of linking to legitimate sources, conservative sites rarely do.  So I'll do the linking for you.

http://dealbook.nytimes.com/2013/10/03/wall-street-seeks-to-soothe-w hi le-preparing-for-trouble/?ref=business&_r=1

One senior bank executive said his bank's plan includes stocking retail branches with at least 20 percent more cash. That way, any customers who want to stockpile cash reserves in the event of a default can readily withdraw their money.

/there's also a Financial Times link, but you have to register for that
 
2013-10-08 06:25:27 PM  

TheDirtyNacho: But, strictly barter economies tend not to last long because it's kind of annoying and inefficient.


unless you start out with one red paperclip
 
2013-10-08 06:25:30 PM  

TheDirtyNacho: Russ1642: Isitoveryet: TheDirtyNacho: I would hope people who buy gold as a doomsday currency would actually have it in their possession, or buried where they know where it is.

Some people do actually buy gold as a financial hedge, though I think its a somewhat poor investment that is subject to many whims. Sort of like buying a single stock - easy to manipulate by outside forces.


but that's just it!

as far as i know (i my knowledge is limited, to say the least) everyone who invests in gold against the value of the dollar are left with nothing to show for it in a situation where the dollar actually goes to shiat.  that value (gold) only has value (real monetary value) in a stable economic environment.

there'll be some guy standing behind me in the food lines with some heavy metal in his pocket.


/buy low sell high

Gold is worthless when everything goes for shiat. Food, water, the bare essentials become very valuable. You hold onto gold so that when things recover you can have some of your lost wealth back.


Right, or 'recover somewhat', ie a couple of years down the road when people settle in to their new roles in the wasteland.  A buried cache of gold used for trade might have some utility then.  Or it might not.  But, strictly barter economies tend not to last long because it's kind of annoying and inefficient.


I thought that was what caps were for. I'be been hoarding them for a long time, I'll rule the wasteland - wait and see!
 
2013-10-08 06:25:40 PM  

what_now: Nabb1: I've spent years hoarding canned food and shotgun shells just for this scenario. I will rule this new world.

I have penicillin and a working uterus. I will be your overlord.


Overlord? You mean currency.
 
2013-10-08 06:26:47 PM  

IamAwake: skinnycatullus: Yeah, if the US defaults, the FDIC will still pay you. Right?

If the US defaults, the dollar becomes worthless, and the FDIC crumbles...exactly what will withdrawing your money have accomplished?

Sure sure, I guess you could have transferred it to an overseas bank or otherwise into some other currency, but that's not quite what a "bank run" means.  This is 2013, it's either floating and working, or the whole world will be gone to hell.


Traditionally, people do in fact try to convert their money to what is known as "hard currency" in a financial panic. And typically the government tries to prevent that if they see it coming through what are called "currency controls".

So you seem to be vaguely aware of this, but at the same time declaring it unthinkable. But it has happened many times before in many countries.
 
2013-10-08 06:28:11 PM  

Kit Fister: mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.

TP, batteries, canned goods, booze and bullets. Also, warm clothes, fuel, and medicines.

Gold is only valuable because we believe it does. As a starving man what's more valuable: gold or food.


How about gold AND food? I'm not suggesting one at the exclusion of the other. I've never heard anyone suggest that.
 
2013-10-08 06:28:14 PM  

mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.


At that point, I'll trade you a pound of canned goods for a pound of gold - assuming I think I know someone else who'll give me two pounds of canned goods for that pound of gold

/otherwise, no deal
 
2013-10-08 06:28:38 PM  
Jokes on all of you, I've got millions of Nuka-Cola caps stashed for just this event.
 
2013-10-08 06:29:38 PM  
Whether it is in your hands or in a bank, a fiat currency that has lost its value is still worthless. You need something with intrinsic value, like silver and gold.
 
2013-10-08 06:30:18 PM  

12349876: No it's not


I was thinking more along the lines of unnecessary, one-sided, rhetoric that the authors feel adds to the meat of the story, when all it does is detract from the main point of the article, undermining their credibility as journalists and solidifying their roles as partisan hacks.  Both sides do it equally shamefully.
 
2013-10-08 06:31:00 PM  

Atomic Spunk: mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.

Every civilized society relies on some sort of currency to facilitate transactions. Gold has played that role for thousands of years. Other things will be important in a doomsday scenario such as food, water and weapons. I wouldn't suggest buying gold to the exclusion of everything else, but it would likely play a very important role as a medium of exchange.



I think gold fills that role well because, historically, it wasn't all that useful.  It's soft and has some interesting properties - but not to an agrarian society.  And it's somewhat rare (but not too rare) and happens to be visually striking.  You don't want a single currency to be say, copper or iron, because those have lots of practical uses and so would be removed from the economy by virtue of being put into use somewhere.
 
2013-10-08 06:31:52 PM  

uncoveror: Whether it is in your hands or in a bank, a fiat currency that has lost its value is still worthless. You need something with intrinsic value, like silver and gold.


In a failed economy where neither such currencies hold value over raw goods, I disagree. What makes those have any intrinsic value? They don't have any direct use to most other than being pretty.
 
2013-10-08 06:33:16 PM  

TheDirtyNacho: Atomic Spunk: mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.

Every civilized society relies on some sort of currency to facilitate transactions. Gold has played that role for thousands of years. Other things will be important in a doomsday scenario such as food, water and weapons. I wouldn't suggest buying gold to the exclusion of everything else, but it would likely play a very important role as a medium of exchange.


I think gold fills that role well because, historically, it wasn't all that useful.  It's soft and has some interesting properties - but not to an agrarian society.  And it's somewhat rare (but not too rare) and happens to be visually striking.  You don't want a single currency to be say, copper or iron, because those have lots of practical uses and so would be removed from the economy by virtue of being put into use somewhere.


I'm sticking with nuka -cola caps.
 
2013-10-08 06:33:26 PM  

uncoveror: Whether it is in your hands or in a bank, a fiat currency that has lost its value is still worthless. You need something with intrinsic value, like silver and gold.


Silver and gold have no intrinsic value. The value they have are what you assign to it, nothing more, nothing less.
 
2013-10-08 06:35:30 PM  

highendmighty: 12349876: No it's not

I was thinking more along the lines of unnecessary, one-sided, rhetoric that the authors feel adds to the meat of the story, when all it does is detract from the main point of the article, undermining their credibility as journalists and solidifying their roles as partisan hacks.  Both sides do it equally shamefully.


Oh please. Show me one story on Think Progress with HALF the hyperbole and bullshiat of WND's "Obama the secret Muslim" crap.

Pretending they are the same shames you, not Think Progress.
 
2013-10-08 06:35:57 PM  

GRCooper: feanorn: Money is a useful fiction, and we can always make more. And the more I think about it, the more I like the whole Coin of Massive Value idea, but expanded: make a few of them, pay off our debts with them, then refuse to break them for change or allow them to be deposited. Their holders can then put them up on eBay and get at least some of their investment back.

Because tricks to devalue our debt is going to increase faith in our currency


Who has faith in it now? The only thing holding things together right now is a collective, deranged hope that, like Coyote, the system can keep running on air until it gets to the opposite cliffside.
 
2013-10-08 06:36:25 PM  

mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.


True, but at least Spunk's family members actually have gold, as opposed to certificates that say they own gold.
 
2013-10-08 06:39:32 PM  

feanorn: GRCooper: feanorn: Money is a useful fiction, and we can always make more. And the more I think about it, the more I like the whole Coin of Massive Value idea, but expanded: make a few of them, pay off our debts with them, then refuse to break them for change or allow them to be deposited. Their holders can then put them up on eBay and get at least some of their investment back.

Because tricks to devalue our debt is going to increase faith in our currency

Who has faith in it now? The only thing holding things together right now is a collective, deranged hope that, like Coyote, the system can keep running on air until it gets to the opposite cliffside.


IOW: who has faith in it now? the only thing holding it together is faith.

Try not to contradict yourself so quickly
 
2013-10-08 06:40:20 PM  

mediablitz: highendmighty: 12349876: No it's not

I was thinking more along the lines of unnecessary, one-sided, rhetoric that the authors feel adds to the meat of the story, when all it does is detract from the main point of the article, undermining their credibility as journalists and solidifying their roles as partisan hacks.  Both sides do it equally shamefully.

Oh please. Show me one story on Think Progress with HALF the hyperbole and bullshiat of WND's "Obama the secret Muslim" crap.

Pretending they are the same shames you, not Think Progress.


It's all in the tone.  The two are equivalent.  You seem to have mastered and revel in it.
 
2013-10-08 06:41:54 PM  

King Something: mediablitz: Atomic Spunk: I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.

I'm going with no, they don't. Anyone who thinks gold is important for doomsday is a rube.

True, but at least Spunk's family members actually have gold, as opposed to certificates that say they own gold.


I guess that's SOMETHING. A step up from the super rubes?
 
2013-10-08 06:42:40 PM  

noazark: [yafh.com image 640x480]


Paging Mr. Oliver Wendell Jones.  Mr. Oliver Wendell Jones. . .
 
2013-10-08 06:42:50 PM  

highendmighty: mediablitz: highendmighty: 12349876: No it's not

I was thinking more along the lines of unnecessary, one-sided, rhetoric that the authors feel adds to the meat of the story, when all it does is detract from the main point of the article, undermining their credibility as journalists and solidifying their roles as partisan hacks.  Both sides do it equally shamefully.

Oh please. Show me one story on Think Progress with HALF the hyperbole and bullshiat of WND's "Obama the secret Muslim" crap.

Pretending they are the same shames you, not Think Progress.

It's all in the tone.  The two are equivalent.  You seem to have mastered and revel in it.


Ah. You think you're above it all. How... quaint.
 
2013-10-08 06:43:25 PM  
I can only get $500/day from the ATM.  This is gonna take a while.  (One can only handle so much ass to mouth in a day.)
 
2013-10-08 06:44:10 PM  

mediablitz: Ah. You think you're above it all. How... quaint.


Above what?  Making hacky partisan opinions in the name of journalism?  Then yes; yes I am.
 
2013-10-08 06:44:50 PM  
not raising the limit on new borrowing ≠ default on payment of debt already incurred
 
2013-10-08 06:47:57 PM  

mediablitz: netweavr: People still use cash?

Chinese food place here in town is cash or check only. Several places around like that.


You sound rural.

"A check? Sh*t yeah, I can write you a check. I thought you wanted money!"
-- Noted urban comedian Jeff Foxworthy
 
2013-10-08 06:49:08 PM  

dr_blasto: TheDirtyNacho: Russ1642: Isitoveryet: TheDirtyNacho: I would hope people who buy gold as a doomsday currency would actually have it in their possession, or buried where they know where it is.

Some people do actually buy gold as a financial hedge, though I think its a somewhat poor investment that is subject to many whims. Sort of like buying a single stock - easy to manipulate by outside forces.


but that's just it!

as far as i know (i my knowledge is limited, to say the least) everyone who invests in gold against the value of the dollar are left with nothing to show for it in a situation where the dollar actually goes to shiat.  that value (gold) only has value (real monetary value) in a stable economic environment.

there'll be some guy standing behind me in the food lines with some heavy metal in his pocket.


/buy low sell high

Gold is worthless when everything goes for shiat. Food, water, the bare essentials become very valuable. You hold onto gold so that when things recover you can have some of your lost wealth back.


Right, or 'recover somewhat', ie a couple of years down the road when people settle in to their new roles in the wasteland.  A buried cache of gold used for trade might have some utility then.  Or it might not.  But, strictly barter economies tend not to last long because it's kind of annoying and inefficient.

I thought that was what caps were for. I'be been hoarding them for a long time, I'll rule the wasteland - wait and see!



How many caps for this tasty iguana on a stick? I a couple Nuka Colas too.....


/won't touch the radroach though....
 
2013-10-08 06:49:36 PM  

GRCooper: feanorn: GRCooper: feanorn: Money is a useful fiction, and we can always make more. And the more I think about it, the more I like the whole Coin of Massive Value idea, but expanded: make a few of them, pay off our debts with them, then refuse to break them for change or allow them to be deposited. Their holders can then put them up on eBay and get at least some of their investment back.

Because tricks to devalue our debt is going to increase faith in our currency

Who has faith in it now? The only thing holding things together right now is a collective, deranged hope that, like Coyote, the system can keep running on air until it gets to the opposite cliffside.

IOW: who has faith in it now? the only thing holding it together is faith.

Try not to contradict yourself so quickly


I see that you taught yourself not to smile or laugh with a cattle prod and the complete 3 Stooges collection.
 
2013-10-08 06:49:50 PM  

noazark: [yafh.com image 640x480]


Man, them Samoans are a surly bunch.
 
2013-10-08 06:54:26 PM  

Atomic Spunk: Isitoveryet: mediablitz: I don't need money. I have these certificates saying I own gold. My plan is foolproof.

this is my goto argument with the "gold will always have value" crowd (in terms of apocalyptic scenarios).

first ask them if they've invested in gold, then continue with the "and how much gold do you have in your possession" blow.

then ask them to explain how they plan on gaining access to their gold.

they usually shrug, hard to actually counter on that one.

/yes investing in it can yield substantial returns

I can't speak for the people you've spoken to, but I know a couple of family members who hold physical gold. If someone (other than maybe a few close family members) asked them how much gold they had in their possession, they'd give you the same reaction. It's not that they don't have an answer. It's they don't want to tell just anyone their answer. They have their doomsday plan well thought out. It's just best to keep that sort of information a secret, and they know it.


t3.gstatic.com

For gold to have value, there must be an economy.  Gold has very little utility.  You can't eat it.  You can't treat your wounds with it.  You can't heat your hovel with it.

They'd be better off with a stash of booze and drugs to trade for food and clothing.
 
2013-10-08 06:59:30 PM  

JuniorII: dr_blasto: TheDirtyNacho: Russ1642: Isitoveryet: TheDirtyNacho: I would hope people who buy gold as a doomsday currency would actually have it in their possession, or buried where they know where it is.

Some people do actually buy gold as a financial hedge, though I think its a somewhat poor investment that is subject to many whims. Sort of like buying a single stock - easy to manipulate by outside forces.


but that's just it!

as far as i know (i my knowledge is limited, to say the least) everyone who invests in gold against the value of the dollar are left with nothing to show for it in a situation where the dollar actually goes to shiat.  that value (gold) only has value (real monetary value) in a stable economic environment.

there'll be some guy standing behind me in the food lines with some heavy metal in his pocket.


/buy low sell high

Gold is worthless when everything goes for shiat. Food, water, the bare essentials become very valuable. You hold onto gold so that when things recover you can have some of your lost wealth back.


Right, or 'recover somewhat', ie a couple of years down the road when people settle in to their new roles in the wasteland.  A buried cache of gold used for trade might have some utility then.  Or it might not.  But, strictly barter economies tend not to last long because it's kind of annoying and inefficient.

I thought that was what caps were for. I'be been hoarding them for a long time, I'll rule the wasteland - wait and see!


How many caps for this tasty iguana on a stick? I a couple Nuka Colas too.....


/won't touch the radroach though....


You should try the Brahmin steak its delish
 
2013-10-08 07:02:17 PM  
I plan on eating my gold.
 
2013-10-08 07:03:38 PM  
My shorts on the high flying stocks are working, but this sh*t scares the crap out of me. Glancing at the indexes today periodically, I get the sense that the big money guys are looking to build up cash for a big drop so they can buy it. The retail investors are going to get roasted, if they sell into this. But, that much red, if you're loaded up on high flyers, is going to cause you to want to maintain your gains. (No one enjoys watching their big green numbers starting to shrink.)

Of course, none of that matters if we get to 24 hours before the limit. Then we start talking about circuit breakers and thousand point moves. Hell, if we get to Monday, all markets are going to be awash in red like 2008 and 2009. Gold isn't even a safe haven.

This is suicide and the Republicans will not give in on this. Whatever brings them closer to Jesus.
 
2013-10-08 07:07:28 PM  

NewportBarGuy: My shorts on the high flying stocks are working, but this sh*t scares the crap out of me. Glancing at the indexes today periodically, I get the sense that the big money guys are looking to build up cash for a big drop so they can buy it. The retail investors are going to get roasted, if they sell into this. But, that much red, if you're loaded up on high flyers, is going to cause you to want to maintain your gains. (No one enjoys watching their big green numbers starting to shrink.)

Of course, none of that matters if we get to 24 hours before the limit. Then we start talking about circuit breakers and thousand point moves. Hell, if we get to Monday, all markets are going to be awash in red like 2008 and 2009. Gold isn't even a safe haven.

This is suicide and the Republicans will not give in on this. Whatever brings them closer to Jesus.


There is going to be a point where the sane ones say fark it and break ranks, I hope. I hope that Boehner is left with his tea party friends holdingthe bag.
 
2013-10-08 07:08:17 PM  
ThinkProgress. For when ordinary fear mongering and bullshiat won't get the job done.
 
2013-10-08 07:08:50 PM  

Slaves2Darkness: Don't worry, it will be just like the Great Depression. When after the economic collapse a charismatic leader rose up and showed the oppressed how to fight back. Sure he was a community organizer and socialist, but he sure did get those trains to run on time, built a car for everyone, and showed those rich accountant, banker, money grubbing 1%er why they could no longer hoard money. Why he even had a Freedom Through Work program that put those lazy undesirable welfare bums to work on useful civic projects. Like building community gas lines, ovens, and vehicles.


He'll tell us about his struggles, too.
 
2013-10-08 07:09:01 PM  

FlashHarry: and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?


Nothing compared to the debt the democrats are racking up right now, and they STILL want to raise the debt ceiling.  Good jorb on your derp.
 
2013-10-08 07:10:35 PM  

what_now: Nabb1: I've spent years hoarding canned food and shotgun shells just for this scenario. I will rule this new world.

I have penicillin and a working uterus. I will be your overlord.


Do you have the means to protect either of those yourself?
 
2013-10-08 07:11:11 PM  
Bank runs?  Pashaw... I have mine in a credit union, so mine is just fine!
 
2013-10-08 07:12:16 PM  

jtown:
For gold to have value, there must be an economy.  Gold has very little utility.  You can't eat it.  You can't treat your wounds with it.  You can't heat your hovel with it.

They'd be better off with a stash of booze and drugs to trade for food and clothing.


As long as people are exchanging goods or services, that is the definition of an economy. Bartering is an ineffective way to conduct commerce, which is why societies have created currencies.

As I've said a few times already in this thread, neither I, nor anyone I've ever spoken to, has ever said that gold is the only thing important to have in a doomsday scenario. There are a number of things someone should hold. Gold is just one of many. You can argue that it will be useless, but gold has been used as currency for thousands of years. Sorry, but I choose thousands of years of history over your opinion.
 
2013-10-08 07:12:26 PM  

highendmighty: 12349876: No it's not

I was thinking more along the lines of unnecessary, one-sided, rhetoric that the authors feel adds to the meat of the story, when all it does is detract from the main point of the article, undermining their credibility as journalists and solidifying their roles as partisan hacks.  Both sides do it equally shamefully.


I don't read ANYTHING from the partisan sites.  I go to the links to legit sources if they have them and completely ignore it if they don't.  The left leaning sites do a MUCH MUCH MUCH MUCH MUCH better job of including links to legit news sources.
 
2013-10-08 07:12:54 PM  
For all the people in this thread who can't wrap their heads around the idea of using gold as a currency even though people have done so for centuries,  http://www.npr.org/blogs/money/2011/02/07/131363098/the-tuesday-podca s t-why-gold
 
2013-10-08 07:13:26 PM  

Kit Fister: I hope that Boehner is left with his tea party friends holdingthe bag.


He didn't even want this! He just wants to keep his job. These lunatics forced him into this thing. I honestly don't see a clean bill being brought to the floor. I see absolutely zero chance of that happening. The idiots can't pass a farm bill without f*cking it up. That used to be seen as the easiest bill to pass since forever.

These ideological mental midgets have convinced themselves they won the national election in 2012 and they feel like they are soldiers in some noble battle to save America from the Kenyan. I just don't see them backing down. Even if the Republican moderates want to move on to another day.
 
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