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Offline franksolich

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Twix candy bar primitive hoarding gold
« on: September 27, 2009, 07:01:24 PM »
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x6638416

Oh my.

Quote
TwixVoy  (1000+ posts)        Sun Sep-27-09 01:10 AM
Original message

I am not surprised about Macy's possibly going bankrupt

Please forgive any ramblings in these comments of mine. I am up very late here and I am literally half passed out.

I can't say I'm surprised about Macy's. I don't think we will see them in bankruptcy this year though or even next year.

I expect retail to be in a death spiral for the next many years, but it will be more of a mass down sizing than major retailers going bankrupt.

At Target, for example, we did a TON of cost cutting. We got rid of tons of peoples positions. We cut energy costs. We slashed raises. Almost everything though was down very silently and gradually. Most employees outside of management were not even aware of it, and the public certainly was not aware of it.

When I left Target management corporate was essentially preparing every store in the company for a long term multi year down turn. There is even a plan in place that should be running this year and the next to rip out the express lanes at ALL the stores. The memo that came down to us from corporate said they were doing this to "prepare for the new average consumer that can only buy a few items at a time". Thus EVERY lane was going to be essentially an express lane.

I also find it interesting to see the signing they have deployed in the stores all over the place telling people what a great low cost value everything is. I never heard anything about that when I left the company earlier this year, but it just screams "desperate".

I still believe that we are *not* looking at an outright 1930's style deperession in the United States. What I expect to see happen is a more accelerated gradual decline in the standard of living effecting both the lower and middle class. It will be gradual enough that most Americans won't even see it happening.... but they will "feel" a little more pressure over time with out being fully are of what is happening. A frog in slowly heating water is the best example I can think of to describe the effect.

I can only see one thing that WOULD cause an outright sudden depression worse than the 1930's. That would be a series of events occur that result in our dollar losing most of its value and/or Asia pulling the plug on our imports of their goods. Should either of those events happen I believe we would be looking at mass civil unrest in short order. I think there is perhaps a 30% chance of either of those events happening.

But I am 100% sure with out a doubt in my mind we will experience a mass decline in our standard of living over the next several years. I believe that 10 years from now we will look back at 2007 as the year we began a decline in to being a poor country.

My best advice to people in general is to:

1. Pay off debt.

2. Be almost completely out of ANY investments in this country

3. DO have emergency plans in the back of your mind should the unlikely happen and we have a sudden collapse.

4. Own at least SOME physical gold. I would recommend $10,000-$20,000 worth at a minimum. This is easy to do by purchasing 10-20 1oz US gold eagles minted by the US treasury.

I don't know what specifically will happen, but as far as the general trends I see coming I am very sure at this point nothing will prevent it.

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vadawg  (1000+ posts)      Sun Sep-27-09 01:13 AM
Response to Original message
 
1. problem with gold is, its not a great currency to work with at the street level goods are better, or if you must have gold, use it to prepare an escape long before you need it.

The tularetom primitive, who hoarded a lot of prime riverfront real-estate during the "lousy" George Bush economy:

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tularetom  (1000+ posts)      Sun Sep-27-09 01:17 AM
Response to Reply #1
 
3. Thats right, how are you gonna use gold to buy commodities with?

Chip a chunk off your golden eagle and exchange it for a hamburger?

Very impractical.

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vadawg  (1000+ posts)      Sun Sep-27-09 01:30 AM
Response to Reply #3
 
4. bud light and marlboros are probuably a better save for a rainy day...

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TwixVoy  (1000+ posts)        Sun Sep-27-09 01:34 AM
Response to Reply #3
 
7. You won't use it to buy food with

Which is why I don't recommend putting all your assets in gold.

It is simply to safe guard your at least some of your WEALTH in the event of a complete dollar collapse. Then, YEARS later, you hopefully will be able to exchange it for a currency.

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vadawg  (1000+ posts)      Sun Sep-27-09 01:36 AM
Response to Reply #7
 
8. okay were are you going to hide it, cause it had better be well hidden and no one had better know about it... your better using that same cash to buy supplies or a way out of where you are, no point having 20g iin gold if you are hungry..

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TwixVoy  (1000+ posts)        Sun Sep-27-09 01:39 AM
Response to Reply #8
 
11. You will keep your mouth shut about it and you will put it some place only you have access to.

No one will come looking for something they don't know you have.

I have 20 1oz gold coins somewhere in the dry wall of my house. You think anyone is going to think to look there? You think I've told anyone I know in real life about it?

It will stay put for the next several years until I take it out. No one will have a clue it is there. Even my family does not know.

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vadawg  (1000+ posts)      Sun Sep-27-09 01:43 AM
Response to Reply #11
 
14. lol how long do you think you will keep it hidden when you are hungry

the only way to survive when it gets real bad is to become as the wolf, be in a pack and look after your pack. Have you any idea of the number of people who hide valuables only to find that when it really matters they are worthless to them...

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TwixVoy  (1000+ posts)        Sun Sep-27-09 01:45 AM
Response to Reply #14
 
16. Do you think that is all I have done?

Do you think my gold is my only plan? It is but one piece of my preparation.

I have done MUCH more. The gold is only to safe guard at least SOME wealth. I have other plans to provide my self with food and other needs.

It's a reasonably large bonfire, and I'm pretty lazy today, so only a few more primitive comments, selected at random; the cross-eyed Iowa primitive who now lives in Denver, and won't share his housing with the homeless bobbling primitive:

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Hawkeye-X  (1000+ posts)        Sun Sep-27-09 01:56 AM
Response to Reply #11
 
21. My dad has some gold bullions and was just showing me on eBay how much people are willing to spend for a stack of gold buillions.

$2,900 for like 20 coins (or something like that)

Quote
TwixVoy  (1000+ posts)        Sun Sep-27-09 01:42 AM
Response to Reply #10
 
13. I have been in this country over 50 years and this situation is more unique than any we have been in before. You clearly do not understand that.

Even in our worst of times in the past we at least PRODUCED. We were also not a nation of debtors.

A nation of broke debtors who no longer have a manufacturing base is doomed to failure.

IF instead of printing cash to give to the banks we started to PRODUCE again I might agree with you. Because we did not do that I am 100% certain with no doubt in my mind the fate our of nation.

Hmmm.  I always thought of the Twix candy bar primitive as being a young 'un, maybe 30s at the most, but apparently the Twix candy bar primitive's some decades older than that.

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LeftyMom  (1000+ posts)        Sun Sep-27-09 02:35 AM
Response to Original message
 
28. Wait a minute- a store level retail management job makes one an economics expert now?

Holy crap, I was promoted to assistant manager at Circuit City a few weeks after I turned eighteen, I had no idea I was such a *******ed prodigy. And to think I wasted my time going to college anyhow. But I guess my world class economics education at Casa de DIVX- the one I got in between lessons on how to sell a CD player and the best way to file the cell phone contracts- didn't adequately prepare me for The Collapse (TM.) To be totally fair, if the bright minds in Richmond had their shit figured out there wouldn't be a big empty store up the road, either.

Maybe they missed explaining that to me because I was busy running a register or checking in a shipment of CDs or something, so I need you to explain this one to me: if the economy is in the shitter, how is the average person, who is probably already hurting quite a bit, to simultaneously pay off their debts, prepare for disaster and buy twenty large or more worth of gold?

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earth mom  (1000+ posts)        Sun Sep-27-09 03:51 AM
Response to Original message
 
41. Booze, Cigarettes and Ammo are probably better to barter with than gold.
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Offline Chris_

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Re: Twix candy bar primitive hoarding gold
« Reply #1 on: September 27, 2009, 07:38:31 PM »
Quote
TwixVoy  (1000+ posts)        Sun Sep-27-09 01:45 AM
Response to Reply #14
 
16. Do you think that is all I have done?

Do you think my gold is my only plan? It is but one piece of my preparation.

I have done MUCH more. The gold is only to safe guard at least SOME wealth. I have other plans to provide my self with food and other needs.




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Offline jukin

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Re: Twix candy bar primitive hoarding gold
« Reply #2 on: September 27, 2009, 07:57:38 PM »
If a Dummy is recommending gold it's time to short it.
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Offline DumbAss Tanker

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Re: Twix candy bar primitive hoarding gold
« Reply #3 on: September 28, 2009, 12:18:26 AM »
Quote from: jukin on September 27, 2009, 07:57:38 PM
If a Dummy is recommending gold it's time to short it.

Get out of my head, man!!!

 :lmao:
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Offline Tantal

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Re: Twix candy bar primitive hoarding gold
« Reply #4 on: September 28, 2009, 12:47:10 AM »
Meh. Old news. I've got a little gold. Not much, just a few ounces (damn sure not $10-20K worth) for a little diversity. For absolute dollar collapse, I've got silver, which can easily be traded for goods or services. I've also got a metric assload of ammo, which could become the currency of the new millenium.
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Offline GOBUCKS

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Re: Twix candy bar primitive hoarding gold
« Reply #5 on: September 28, 2009, 12:50:27 AM »
Another new benefit for DUmmies. They can come to the DUmp for apocalyptic planning tips
from a fired ex-clerk at Target.

Incidentally, DUmmy TwixVoy claimed his unemployment was nearly over about a month ago,
and he was starting a new job as a cable guy, which would be a huge step up from his
old job at Target.

Then there was some kind of fishy delay aftere he took a drug test. Then he said the job
couldn't start until October. Now he's preparing for the EOCAWKI.

He probably still has a few hundred pounds of chickpeas from his Y2K apocalypse preparation.
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Offline BlueStateSaint

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Re: Twix candy bar primitive hoarding gold
« Reply #6 on: September 28, 2009, 04:14:53 AM »
This struck me as going any which way . . .

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TwixVoy  (1000+ posts)        Sun Sep-27-09 01:45 AM
Response to Reply #14
 
16. Do you think that is all I have done?

Do you think my gold is my only plan? It is but one piece of my preparation.

I have done MUCH more. The gold is only to safe guard at least SOME wealth. I have other plans to provide my self with food and other needs.

How?  By being someone's bitch?
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Offline ScubaGuy

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Re: Twix candy bar primitive hoarding gold
« Reply #7 on: September 28, 2009, 08:18:57 AM »
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Dreamer Tatum  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Sun Sep-27-09 12:44 PM
Response to Reply #49
54. Oh man
   
You really, truly have this coming, but I'm still sorry to clobber you over the head with it: I have a PhD in economics with a concentration in finance and econometrics. You're in retail sales. I have more credibility than you, even if you don't think so.

Not only did I not take a hit during the downturn, but I made a modest return, and I didn't do it by burying hard assets in a jar in my backyard, like you did. I also managed to avoid the OTHER DU hysterias (do you remember when there was no food left in the world because Costco rationed bags of rice? Do you remember when people were cashing in their penny jars to buy Euros? I do...it was hilarious. Wonder why we don't hear from those people much anymore...guess they're too busy counting their millions).

Would you like a little Irony McNugget? That gold you have buried in the backyard next to Fido's bones? It's been outperformed in the last calendar year by...Target stock. I will venture that Target stock has also outperformed the sacks of beans and rice you've stockpiled to hedge against the fall of the US economy, foretold by someone who thought the store looked a little slow one day.

I don't know what to say about your disdain for corporate financial data. All I can say is that the data I look at was reported to the SEC by people who personally guarantee its accuracy under Sarbanes/Oxley, whereas you look at...what, exactly? How many people are in the aisles one day?

If you want respect for your financial acumen, you will need to appear less like a soothsaying chicken with a severed head. I would still love to know the reason for your sage advice to take all money out of the US, immediately.

And if the End is Near, why the hell would you pay off all debt? Are you going to care what Experian thinks about you when you're swinging your bag of gold around to protect your sacks of beans and rice?

 :rotf:
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Offline IassaFTots

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Re: Twix candy bar primitive hoarding gold
« Reply #8 on: September 28, 2009, 08:47:25 AM »
HAHA!   :rotf: :rotf: :rotf:
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Offline NHSparky

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Re: Twix candy bar primitive hoarding gold
« Reply #9 on: September 28, 2009, 08:56:01 AM »
What's the over/under on Tatum being a mole?  And yes, gold as a long-term investment sucks.  I'm not saying don't have some as a hedge, but the market has outperformed it over the last 25 years quite nicely, thanks very much.
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Offline GOBUCKS

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Re: Twix candy bar primitive hoarding gold
« Reply #10 on: September 28, 2009, 10:29:27 AM »
Quote
Hawkeye-X  (1000+ posts)        Sun Sep-27-09 01:56 AM

21. My dad has some gold bullions and was just showing me on eBay how much people are willing to spend for a stack of gold buillions.
$2,900 for like 20 coins (or something like that)
What does a "stack of gold bullions" look like?
How small must these "bullions" be if 20 of them are worth $2900?

In tossing out this supplementary bouncy, DUmmy Hawkeye-X reveals that he doesn't
know the meaning of "bullion", nor does he know the current value of gold.

He is even dumber than TwixVoy.
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Offline NHSparky

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Re: Twix candy bar primitive hoarding gold
« Reply #11 on: September 28, 2009, 10:46:33 AM »
Quote from: GOBUCKS on September 28, 2009, 10:29:27 AM
What does a "stack of gold bullions" look like?
How small must these "bullions" be if 20 of them are worth $2900?

In tossing out this supplementary bouncy, DUmmy Hawkeye-X reveals that he doesn't
know the meaning of "bullion", nor does he know the current value of gold.

He is even dumber than TwixVoy.

$2900 is less than 3 ounces at current market rates.  I don't know about you, but even half-eagles had a quarter-ounce or so of gold in them.

I do have a Suisse Credit bullion ingot/bar I used to actually wear on a chain.  5 grams, or about $160 at today's spot rate.  But coins?  Not even.


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Offline The Village Idiot

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Re: Twix candy bar primitive hoarding gold
« Reply #12 on: September 28, 2009, 12:17:24 PM »
Quote
TwixVoy  (1000+ posts)        Sun Sep-27-09 01:39 AM
Response to Reply #8
 
11.
No one will come looking for something they don't know you have.
.
I have 20 1oz gold coins somewhere in the dry wall of my house. You think anyone is going to think to look there? You think I've told anyone I know in real life about it?....... No one will have a clue it is there. Even my family does not know

Oh brother. You only just told the whole world about your imaginary stash and where its at... genius...

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Offline GOBUCKS

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Re: Twix candy bar primitive hoarding gold
« Reply #13 on: September 28, 2009, 12:23:25 PM »
Quote from: FGL on September 28, 2009, 12:17:24 PM
Oh brother. You only just told the whole world about your imaginary stash and where its at... genius...
Not a problem. The house is as imaginary as the gold.

Remember, this guy has spent his life tearing open crates of potholders on a Target receiving dock.
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Offline JohnnyReb

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Re: Twix candy bar primitive hoarding gold
« Reply #14 on: September 28, 2009, 03:40:25 PM »
Times are hard....I have a sack of corn....DUmmie has a gold coin....there's nothing left to eat in the world but my sack of corn.....DUmmie ain't getting it.....he ain't getting it.....I forgot to mention the 40 cal Glock in my hip pocket.....I now have the corn and his gold coin.....life is good.
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Offline Karin

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Re: Twix candy bar primitive hoarding gold
« Reply #15 on: September 28, 2009, 04:02:56 PM »
Well, this was an entertaining thread.  Twixvoy has been in this country for 50 years???  Something is really not computing. 
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