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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 06/30/2008 : 13:48:51
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In the beginning stages of a Zimbawe-type situation, wouldn't it be smart to run to wal-mart and max out your credit cards on essentials? You'd be increasing your overall level of preparedness, and then you'd pay off the debt with worthless dollars!
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Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 06/30/2008 : 13:57:26
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But then your credit card company might arbitrarily increase your APR to one billion zillion kajillion frillion percent.  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 06/30/2008 : 13:58:37
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| Good point. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 06/30/2008 : 14:00:24
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| Googleplex percent! Ah, the fine print. |
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kavajava
Penny Collector Member
USA
490 Posts |
 Posted - 06/30/2008 : 14:14:33
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quote:
Originally posted by starwarsgeek171
In the beginning stages of a Zimbawe-type situation, wouldn't it be smart to run to wal-mart and max out your credit cards on essentials? You'd be increasing your overall level of preparedness, and then you'd pay off the debt with worthless dollars!
Actually I agree with you--but you would need to be sure about the interest rate on your credit card and check the fine print as ant reminds us--I think some cards have max percentages, others are tied to the fed or LIBOR rate.
BUT--if you have a fixed rate mortgage, you are set--I have been told that at one point in Israel(?), the inflation rate was so high that it cost mortgage companies more to process your payment than the payment was worth--end result--they sent you your note and marked it paid.
There is one caveat about going into debt--you must be sure that you will keep your source of income when TSHTF. Part of the problem when it all happens is that there will be rampant unemployment.
The other thing is that, according to other things I have read, it all goes down without warning--all of a sudden--bam--the shelves are bare. Better to be way early than a bit too late. |
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swusc
Penny Hoarding Member
USA
553 Posts |
Posted - 06/30/2008 : 14:50:33
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Zimbawe....
Well I would say we are in no way head close to that yet. If they printed the whole national debt then I am not sure M3 would increase more than 1000-2000%.
Granted that might make gas 40-80$ a gallon, silver 170-500 an oz, gold $9,000-27,000 an oz, and so on. People with cash would be screwed. People with assets would be better off than those with just cash.
That credit card debt might be easier to pay off for those with stuff to sell at the new inflated prices. |
`Everybody is ignorant. Only on different subjects.' Will Rogers
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966. |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 06/30/2008 : 15:04:43
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quote:
Originally posted by swusc
People with cash would be screwed. People with assets would be better off than those with just cash.
Jim Sinclair today asks: "How can you hold dollars in excess of what you need for expenses over the next six months?"
He goes on to say "That dollar’s final breaking is near. It might be closer than anyone anticipates. I feel that proposition is not impossible by any means."
Check out his site: You must be logged in to see this link. |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 06/30/2008 : 15:16:32
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quote:
Originally posted by starwarsgeek171
In the beginning stages of a Zimbawe-type situation, wouldn't it be smart to run to wal-mart and max out your credit cards on essentials? You'd be increasing your overall level of preparedness, and then you'd pay off the debt with worthless dollars!
Yes, if you have one of those fixed rate forever cards. Believe it or not, I have a MasterCard with a 5.9% fixed rate forever, as long as I don't miss a payment. Then, I am sure the rate jumps to a millionkajillion times infinity percent. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 06/30/2008 : 15:28:12
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| Yep--so at the first sign of panic TenBears, grab that thing and max it out with barter goods! |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 06/30/2008 : 15:59:38
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quote:
Originally posted by kavajava
Yep--so at the first sign of panic TenBears, grab that thing and max it out with barter goods!
I think that's when I go down to the Bass Pro Shop and clean out the ammunition in common calibers. But, at the first sign of panic, any hoarding efforts are probably too late. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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Nickelless
Administrator
USA
5580 Posts |
Posted - 07/01/2008 : 01:16:48
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quote:
Originally posted by TenBears
At the first sign of panic, any hoarding efforts are probably too late.
It's like 500 people crowding the checkout lanes at Walmart after a forecast calling for an unexpected blizzard--except in this case the shortages will be much worse and the scene will be much more violent. All the more reason to stock up now to have months of necessities so that you won't have to cross the police line at Wally World to try to buy a loaf of bread that's long gone.
Preparedness will keep us from getting into a panic situation down the road. If we're truly prepared, we won't NEED to max out our credit cards once TS begins to HTF because we will already have what we need. It's everyone else we need to worry about acting stupid WTSHTF. Besides that, StarWarsGeek, you can have the biggest credit line in the world but that doesn't mean products will be available once the panic has begun. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
Edited by - Nickelless on 07/01/2008 01:21:45 |
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tmaring
Penny Collector Member
USA
302 Posts |
Posted - 07/01/2008 : 09:01:50
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quote:
Originally posted by Nickelless
[preparedness will keep us from getting into a panic situation down the road. If we're truly prepared, we won't NEED to max out our credit cards once TS begins to HTF because we will already have what we need. It's everyone else we need to worry about acting stupid WTSHTF. Besides that, StarWarsGeek, you can have the biggest credit line in the world but that doesn't mean products will be available once the panic has begun.
I agree 100% Nickelless! And aside from that personal preparedness we should already be working on social preparedness... the circle of friends and neighbors that we may have to rely upon. It is utterly impossible for individuals to cut themselves completely off and be independant. So you build your social infrastructure of people who know how to do things... the machinist down the block, the farmer up the road, the plumber, etc etc. You make sure that you are one of the ones on their short list of "good trusted folks" for when times get tough. Do them some favors, tip them well for services, refer them customers... they'll remember you. |
Tom Maringer
Shire Post Mint
Springdale, Arkansas |
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fb101
Administrator
USA
2856 Posts |
Posted - 07/01/2008 : 09:24:01
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Aside from guns and ammo, what do you stock up on? Beans and Spam? Jerky? Flour and Sugar?
I'm open to ideas. |
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fb101
Administrator
USA
2856 Posts |
Posted - 07/01/2008 : 09:32:38
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quote:
Originally posted by swusc
Zimbawe....
Granted that might make gas 40-80$ a gallon, silver 170-500 an oz, gold $9,000-27,000 an oz, and so on.
And copper? |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/01/2008 : 10:09:27
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quote:
And aside from that personal preparedness we should already be working on social preparedness... the circle of friends and neighbors that we may have to rely upon. It is utterly impossible for individuals to cut themselves completely off and be independant. So you build your social infrastructure of people who know how to do things... the machinist down the block, the farmer up the road, the plumber, etc etc. You make sure that you are one of the ones on their short list of "good trusted folks" for when times get tough. Do them some favors, tip them well for services, refer them customers... they'll remember you.
Excellent point and one which is often forgotten--it is a good idea to know your neighbors, for many reasons. |
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kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/01/2008 : 10:12:17
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quote:
Originally posted by fb101
Aside from guns and ammo, what do you stock up on? Beans and Spam? Jerky? Flour and Sugar?
I'm open to ideas.
We are saving beans, rice, canned goods, and nuts. Also seeds to grow food. I'm thinking about ordering some extra vitamin C here soon as well. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/01/2008 : 10:31:27
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IF the SDHTF why would anyone care what your interest rate was?Max the heck out of your CC and then tell them ya don't have the money.What are they going to repossess?Not like a car or house payment.Might wreck your credit but if the Fan was already hit,do you even care?
Normally I agree to always pay your bills and am probably one of half the US population that has never filed Chapter 7 or 11,but this would be a totally different situation. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/01/2008 : 23:05:34
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| I say max out the cards and load up on prep stuff. Who cares what your credit card debt is or if you fall behind on payments when you are in survival mode right? I'd be more concerned with feeding myself and family than my credit card being overdue. Just my two cents worth... |
My hobby: collecting real money 1 copper cent or nickel at a time.
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 07/01/2008 : 23:11:49
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All fine and dandy, but make sure you call it right.
A false alarm would destroy your life. |
www.londongoldbuyer.com |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 07/02/2008 : 12:16:08
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I think I may not have expressed my thoughts adequately. I am already a fairly prepared person (relatively speaking). Sure, I could just sit home and watch it all unfold on T.V. while I plan watches, but wouldn't it make sense to get some of the last available supplies to top-off my reserves at what could prove to be a huge discount (even perhaps a freebee, as some have suggested)!? It couldn't be worse than Christmas shopping!
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Edited by - starwarsgeek171 on 07/03/2008 07:30:31 |
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tmaring
Penny Collector Member
USA
302 Posts |
Posted - 07/02/2008 : 13:36:41
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quote:
Originally posted by fasTTcar
All fine and dandy, but make sure you call it right. A false alarm would destroy your life.
No joke on this one! I actually know some folks who supposedly had some kind of "insider information" and knew that a nuclear attack was coming (this was several years ago). They knew the date and a whole bunch of people got together and bought a cave which they stocked to the gills with food and water and you name it... all bought by maxing out everybody's credit cards. Well... as you can guess by now... it didn't happen! The cave was sold, most of the food spoiled, and the credit card bills came due after all. Some of those people are still climbing out the financial hole they dug for themselves on that one! |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 07/04/2008 : 18:48:24
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This might seem like a far fetched scenario, but I will throw it out and see what you think-
Fact: Some states sell tax liens on property whose owners have not paid the property taxes on time. The holder of the tax lien either gets the property owner to pay up or become the new owner of the property.
In a post WTSHTF world, will the credit card companies play nice and ignore the late or non-existant payments, or will they hand over the debts to collection agencies?
In a post WTSHTF world will these collection agencies respect the present laws concerning debt collection, or will they turn aggressive to collect?
Worse yet, suppose the credit card company sells the debt to a collection agency that has connections to or is owned by "the boys" (Sopranos anyone?)
Gives a whole new meaning to the term "owing an arm and a leg."
Again, this is all a 'what if' scenario, but when debts need to be collected and law and order falls apart as it has done in Argentina, the ones with the strongest muscle and who have the police and the courts in their back pockets will be the law unto themselves, and woe be any who try to cheat them or refuse to pay up. |
Edited by - pencilvanian on 07/04/2008 18:51:25 |
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Ponce
Penny Hoarding Member
Cuba
630 Posts |
Posted - 07/05/2008 : 11:12:48
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101? here is "part" of what I stock (in pounds).......1,000=rice, 500=flour, 350=bread flour, 350= sugar, 250=salt, 350=blk beans, 250=pinto bean, 2.5 yrs Mountain House, 2 yrs can goods, 2 full freezers.......you then have the cooking oil, powdered milk, canned butter and so on.
I believe that I have what I need for at least seven years........and after that? that's when my survival silver will come into play, maybe sooner.
As far as I am concern coins will also come into play as it did in Germany in 1918-1923, but of course what will happen here will last longer.
First thing to do is to move away from the city, buy food, buy weapons and ammo, buy PM.......but also what you might need to repair your home, seeds and so on. |
"If you don't hold it, you don't own it"...Ponce |
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Credit for Food
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