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<p>[QUOTE=&quot;Rono, post: 431469, member: 6492&quot;]Wow, good stuff folks.</p><p>&nbsp;</p><p>Ok, I don&#039;t think we&#039;re looking at total economic collapse back into a barter economy.&nbsp; </p><p>&nbsp;</p><p>I am preparing for pretty much that to occur - I&#039;d rather be ready than not.</p><p>&nbsp;</p><p>I&#039;ll keep my coins and my gold and silver regardlesss.</p><p>&nbsp;</p><p>The most likely event is that we head into a full blow economic depression and hit very high inflation.&nbsp; I don&#039;t know if it will go hyper, but it&#039;ll be well into double digits.&nbsp; They really don&#039;t have a choice due to the unfunded liabilities (the real budget deficit) of ~$50-60 Trillion freakin dollars.&nbsp; A number this large cannot be covered with reducing benefits or raising taxes - it&#039;s just too large.&nbsp; That means their only option is to monetize it by debasing the currency to pay if off with cheap dollars.&nbsp; </p><p>&nbsp;</p><p>What can you do to prepare for hideous inflation?</p><p>&nbsp;</p><p>Diversify your portfolio AND your wealth.</p><p>Portfolio:</p><p>&nbsp;</p><p>TIPs and Inflation protected bond funds.</p><p>Short term treasuries</p><p>Int&#039;l bonds</p><p>Blue chip stocks paying dividends</p><p>Precious metals and commodities</p><p>In&#039;tl stocks</p><p>&nbsp;</p><p>Your wealth?&nbsp; Baron R said 1/3 in securites, 1/3 in real estate and 1/3 in rare art.&nbsp; Well, most of us don&#039;t know a lot about rare art, but I&#039;d bet there&#039;s some decent knowledge about rare coins in this crowd - ya think?</p><p>&nbsp;</p><p>Extend your emergency cash stash to 6 months of expenses and keep a larger amount on hand.&nbsp; </p><p>&nbsp;</p><p>Pay off your debt - yeah I know that folks will say that during inflation it&#039;s best to have a lot of debt you&#039;re paying off with cheaper dollars, and this is valid, but don&#039;t play games with your primary residence and don&#039;t have any debt you can&#039;t pay off immediately if needed.&nbsp; Folks, if things get really nasty, they can call the notes.&nbsp; So do NOT play games with your home.</p><p>&nbsp;</p><p>Keep your job and continue to upgrade your job skills.</p><p>&nbsp;</p><p>Start a garden and shop for locally grown food. </p><p>&nbsp;</p><p>Insulate your home.</p><p>&nbsp;</p><p>[hey, and I didn&#039;t mention guns anywhere]</p><p>&nbsp;</p><p>namaste&#039;</p><p>&nbsp;</p><p>rono[/QUOTE]</p><p><br /></p>

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