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economic collapse question -

This is a discussion on economic collapse question - within the General Prepper and Survival Talk forums, part of the Survivalist, Prepper, Bushcrafter, Forest Rangers category; Hello everyone, I am new to prepping. Have a CHL, live in the Dallas Texas area. Just starting my preps, doing lots of reading and ...

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  1. #1
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    economic collapse question -

    Hello everyone,

    I am new to prepping. Have a CHL, live in the Dallas Texas area. Just starting my preps, doing lots of reading and studying on the subject.

    Here's my question:

    I have always wondered if an economic collapse could be precipitated by our government, if they 'appropriated' all of our money. If they decided to pay off the national debt for instance, and decided to just 'take' all of the money in the banks in our individual checking and savings accounts. Not taking any corporate monies, but just raid all the private citizens checking and savings accounts and say, 'it was for national security' for the sake of the country as a whole.

    They might not even take it all, but do something like place a 72 hour freeze (or 1 week, or 30 days, or whatever)on all accounts and appropriate all funds in excess of $10,000 or some other arbitrary amount.

    Is this even possible?

    Thanks,
    DWS
    survival likes this.

  2. #2
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    There would be rioting thru out the nation if they tried that and they know it.
    You build on failure, you use it as a stepping stone.
    Johnny Cash.

  3. #3
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    Welcome to the forums.

    I do not believe that the US Federal Government (Dems or Repubs) care about the debt one rats ass. I do believe that they care about taking my and your hard earned money and giving it to others via what they deem to be "fairness distribution".

    The economics at play are influenced by The Federal Reserve printing money, increased regulation and taxation, and over-reaching social policies that stymie individualism and free market capitalism. Creating an environment where young healthy people are dependent on others.

    Making cheap energy (coal and oil) expensive. Breaking up the Family Unit. Denigrating those who speak the truth, and turning Good into Evil and Evil into Good.

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  5. #4
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    Seems like I've heard about this happening, in Greece or Cyprus?...
    Seneca likes this.
    And he will be a wild man; his hand will be against every man, and every man's hand against him;... Genesis 16:12

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    What's the debt, something like 18 trillion dollars (18,000,000,000,000)

    As far as I am concerned, that is fake money. It does not exist it the way that your money in your accounts do.

    Furthermore, the way they keep printing and the stock market is at 18,000 or so, it's going to pop. Maybe not in the obvious way, but I think in run away inflation (more so than it is).

    This is why we paid off our house a few months ago. Before inflation goes full-idiot-mode and our savings is worthless.

    Same reason we are are now looking for land to put the rest in.
    Slippy, survival and Salt-N-Pepper like this.

  7. #6
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    Not sure the exact order it will proceed but among the several steps on the leftist drawing board should be:
    1. Declaring our present currency obsolete and coming up with a new version of paper money. That would get a bunch of counterfeit money and ill gotten gains/drug money etc. out of the system. For example anybody with large amounts of cash would be given 30 days to exchange it for the new money with the first 10 k being exchangeable with no questions asked. Higher amounts than that would required proof as to where it came from or lose it. That could knock out about a quarter of the National Debt.
    2. Robbing all public and private pension plans (worth about 17 trillion) pumping the money into SS and distributing according to how the commies wish it distributed. Obummer already has this one tuned up from when he stole the pensions from the salaried GM Delphi employees during the auto bail out and gave the money to the UAW.
    3. Cashless society with a computer chip stuck in the forehead or hand.
    Slippy, Big Country1 and graynomad like this.

  8. #7
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    Quote Originally Posted by slewfoot View Post
    There would be rioting thru out the nation if they tried that and they know it.
    Only if it hits enough people.

    Something like 20 or 25 percent of the population are already on govt food assistance of some sort. No one is complaining.

    Look at all the Free Siht Army folks out there getting theirs while everyone else works. Where are the riots?

    Heck, even if the govt started raiding bank account, no one will bother to notice. Why? Most Americans don't have more than a month or two of emergency money saved up. Figure what 2 or 3 grand? Lets say the gooberment decides that the citizens are going to do a "bail in" (greece and cyprus to use as models) of about 5% of bank account holding greater than 50 grand. "So, they ain't coming after me!"

    What about $25,000? "So, they ain't coming after me!"

    $10,000? "So, they ain't coming after me!"

    I would say that $5000 dollar banking haircuts would not even faze most.

    "They got money to cover it! It's just a few hundred dollars!!"

    No riots. People got their iToys, computer, porn, GMO food, cable TV, video games. They also have their hollywood idols shirking about fairness while avoiding real life taxes all because of the politicians they fluff.

    So yeah, no riots.

  9. #8
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    Quote Originally Posted by 3percent View Post
    What's the debt, something like 18 trillion dollars (18,000,000,000,000)

    As far as I am concerned, that is fake money. It does not exist it the way that your money in your accounts do.

    Furthermore, the way they keep printing and the stock market is at 18,000 or so, it's going to pop. Maybe not in the obvious way, but I think in run away inflation (more so than it is).

    This is why we paid off our house a few months ago. Before inflation goes full-idiot-mode and our savings is worthless.

    Same reason we are are now looking for land to put the rest in.
    In an inflationary scenario having debt is actually a good thing. As a matter of fact two of the most successful hedges against hyperinflation is precious metals and real estate debt. The principal amount owed on your mortgage doesn't change as the value of the dollar comes down putting you in a good position as far as equity goes in your real estate portfolio. You should have taken some of your savings and bought some silver it is crazy undervalued right now. Most "people in the know" follow the 33/33/33 rule for hedging which is 1/3 Precious Metals, 1/3 Real Estate, 1/3 Artwork or other material objects.

  10. #9
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    Quote Originally Posted by rjd25 View Post
    In an inflationary scenario having debt is actually a good thing. As a matter of fact two of the most successful hedges against hyperinflation is precious metals and real estate debt. The principal amount owed on your mortgage doesn't change as the value of the dollar comes down putting you in a good position as far as equity goes in your real estate portfolio. You should have taken some of your savings and bought some silver it is crazy undervalued right now. Most "people in the know" follow the 33/33/33 rule for hedging which is 1/3 Precious Metals, 1/3 Real Estate, 1/3 Artwork or other material objects.
    I have heard that and ran numbers and scenarios on spread sheets and with my wife. I think on paper it works out. But in real life...No way. I have a very relaxed feeling knowing that our house is totally paid off and we owe taxes and insurance and that is it. Less than a grand a year between the two.

    Why did we do it?

    Mainly, we were concerned about hyper inflation destroying what our savings was.

    If we sat on our money, sure, they payment of the house stays the same, but your money sitting in the account becomes worth less and less.

    Interest rate of house? 5.6% (we bought in 2004 and when we went to refinance for a lower rate a few years ago, they wanted tons of personal info. I'm on a prepper forum, so you know I was not liking that, haha)
    Savings interest : .03 or something stupid like that
    Inflation : 2.5 to 3 % per year.

    So we were losing purchasing power of our saved income. No way to win in that position. If we carried out the full term of the loan, we would have lost something like $130,000 in interest. We paid off in 10 years and saved $75,000. That's why I don't buy into that good debt thing. Not on something this expensive.

    Plus, one thing we all under estimate is the blood lust of local politicians and banks. You think that if it got that bad they would not find a way to strip the value of the dollar to zero? Wrong.
    Last edited by 3percent; 01-04-2015 at 04:24 PM. Reason: spelling
    Slippy, bigwheel and 8301 like this.

  11. #10
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    Oh yeah, I have silver. It just holds my money. I am not into PM's like a lot of folks. I get it, but it won't buy crap from me if it got that bad. Some folks like glittery shiny things. I like food, land, guns/ammo, medical supplies. Stuff like that.

    But yeah, I have silver.
    Slippy, Mule13 and bigwheel like this.

 

 
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