(the sky is falling, the sky is falling!)
PS: Two more were apparently shot in Portland this evening (Thurs) for the same reason- trying to run over ICE officers.
"The media is making a big deal about the Dow Jones closing above $49,000 for the first time. But with gold closing above $4,490, today’s 49,462 close is worth just 11 ounces of gold. In Sept. 1999, the Dow was worth over 43 ounces of gold. That’s a 74% decline over 26 years."
Peter Schiff, Jan 6, 2026
"When this channel breaks, the dollar is going to get absolutely demolished, and commodities are going to rip. ... Time to get long commodities. Like, yesterday."
"Your pay didn't go up, the dollar became worth less. Your house didn't become worth more as you've lived in it, parts wore out and broke. The price went up because the dollar's worth went down."
"If you have your food pantry good to go, look next at ammo as a hedge against inflation and as a store of wealth."
"Last week (end of 2025) the Federal Reserve pumped something like 105 Billion into the financial system because the banks got caught with their pants down. They were selling the same bar of silver 15 times or more."
[They kept that real quiet. I heard it was Chase Bank that went under. Chase placed a massive short on silver and silver sky-rocketed. The bank couldn't cover the margin call.]
"New tires, brakes etc on the cars, while those things are available. Spare filters for everything that needs them. Spare wicks for the lanterns. I am sure we are not ready, but we have sure tried to cover all the bases."
I believe the only reason now - like "today" now - isn't the time, is it's winter. Minneapolis may signal the lit fuse though.
Remember: the dollar is backed SOLELY "by the full faith and credit of the United States Government".
I have no doubt we'll see something similar to FDR's gold confiscation: a new currency, exchange the old for the new at 75% exchange. Chop a couple of zeroes off the dollar: the $100 bill becomes the new 80¢?
Confiscation (under a different name) of 401Ks, reduction in Social Security - perhaps by 50%? Reductions in Medicare.
Gold is sexy, shiny, and everyone goes ooh and aah over it. A tenth of an ounce of gold is $50 and is about the smallest practical amount. Silver is more practical; I can buy 90% silver dimes which have a melt value of $5.55. It's expensive you say? Yes it is but it won't be too long before we all go "I wish I had bought it at $75/oz". (I expect the stock market to keep going though - it's the only game in town.
Oil is cheap right now; I'm investing in oil and pipeline stocks right now because I expect another 1973/1979 sticker shock. Silver ETFs (SLV) are running about $70 right now - Kitco silver runs about $76/oz. My dealer charges $4.50/oz so I can buy physical silver for about $72. I expect a temporary dip; I'll load up on silver ETF at $57 - if it gets that low.
Get your vehicles in good long-term operating condition. Kerosene for kerosene lamps. Prepare for no electricity at times.
I keep dollars in the Bank of Mattress. Their value is decreasing but it's what I need to spend for groceries and other everyday items.
I keep minimal $$ in any bank; sometimes I need a checking/credit card account. Amazing how many places won't accept cash.
If I had to, I can pay off my mortgage. Don't want to - I was lucky and bought with low interest and I can use the cash for other things that pay better than my mortgage rate. Not sure it beats inflation though. (CPI based on the method used in 1980 - Jimmy Carter - is running about 12%. It peaked at about 17% in 2023).
It's musical chairs time. Be where you want to be when the music stops.
Damn, I'm not ready for this ... and no way to know how badly I'm prepared until badly arrives.
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