If the dollar were to go belly-up.

[thecrazyone]

2021 feels like the impending Danger Zone to me.

1. new virus strains
2. new, questionable president
3. continued job loss and business loss
4. continued hacking of U.S. Treasury and Nuclear networks

That said, if the dollar were to go belly-up, how quickly would it happen? 6 months? A month? Other?

And if it did, would banks and establishments start accepting grams of gold and silver in payment for goods/services?

I'm legitimately concerned, here.

[coppernickel]

I have read and studied widely, from Ruff to Rawles, and hyperinflation lessons from Weimar Germany, Hungary, China, the Soviet Union, Argentina, and Zimbabwe. I have been too busy this year, and the news from Venezuela has been sparse, for me to fully understand what is actively happening there this year.


My understanding is it takes about 1-4 weeks for a currency collapse to start rolling. The second month is the worst, and by the end of month six, it is basically done. The more totalitarian the government the more condensed and severe it becomes and the longer the start can be pushed down the road.


I think most major economies are on the precipice. China may be the last country in the lemming parade.

These might help.
Rawles, J. W. (2009). How to survive the end of the world as we know it; tactics, techniques, and technologies for uncertain times. London: Plume
Ruff, H. J. (1979). How to prosper during the coming bad years. New York: Times Books.

[Changechecker]

I ask if you are legitimately concerned what have you done to prepare?
Have you stocked your pantry with food and consumables
Do you have six months of income saved in hard currency? (Nickels, copper cents, even clad quarters)
Have you learned a valuable second skill?
If the virus worsens Biden is already planning a national lock down.
If bank close how will you transact-think about the coin shortages.
A wise man plans before the storm, especially knowing what happened during the last one.
Are you ready?

[68Camaro]

Dollar is already going belly up. It's a matter of your time scale but the early warning signs are already there. We are officially at infinite money printing that is escalating and with no reasonable hope of reversing at this point. Near zero interest rates and "money" flooding the. market have caused escalating stock prices in the midst of what should have been a pandemic market crash. With bonds not paying any worthwhile premium investors are looking for alternate locations to put their funds. But pick wrong and you will lose everything.

Pay attention to changechecker's warning. The key is are you prepared and what will you do in advance? By the time it becomes obvious that we've hit a tipping point it will be too late for most people to change direction (plus they will waffle and delay initially, making it even more difficult for them to make the right decision). People will argue that no one could have predicted this - that's BS - it has been predicted for at least a decade (if not several). Do what you need to do now.

[ScrapMetal]

A bit off topic but fits into the cost of borrowing money.
Mortgage loans have gone below 2% and it seems that many loan companies are competing for business. So who in their right minds are so willing to lend money at 2% ?
What is the incentive of the loan companies when they could take their stash of money and make a ton of money short term in the booming stock market?
Who also wants to tie up a fortune long-term at 2% interest rate?
The only angle that I can figure out is the possible default on the loan over the 30 years and the loan company gets the house.

[thecrazyone]

To answer some of the questions asked by others in this thread, I have already done the following:

1. bought a small lot of physical gold
2. I have some silver already that I've had for quite some time
3. I do have copper cents, not enough to pay every bill, but I have them
4. I had liquid cash on-hand until Christmas shopping came, but I will replenish that within the next month

Those things said, I'm definitely trying to be "ready". But, that's why I was curious as to a potential timeline. With weeks/months, I can work more at changes. But, if it were an overnight thing, I'd be in trouble!

[Changechecker]

Can't eat precious metals. You may be better off than most but you are going to have a hard time if the dollar crashes. Do you think you will be able to buy food with your p.m.'s? Stores will accept silver coins at actual face value i/e a silver dime is just a dime to them. If the dollar crashes do you really want to sell p.m.'s for paper? Paying for anything with copper cents in the initial phase will be difficult at best. You may want to re-evaluate your strategy.

[Morsecode]

Metals may play well on the way down, and again for a time on the rebound (if there is one), but the bottom is going to be so much worse than we can probably imagine if the dollar does indeed collapse.

In face to face trades with like-minded individuals sure, a 10 oz bar might swap for a box of ammo. I don't see retail ever accepting silver for clothes or food or gas. Government would outlaw it anyway, along with bitcoin. They would not take kindly to the relatively few savvy citizens swimming against the mainstream misery.

And you think the Covid plandemic is overrun with disinformation? An economic collapse will be impossible to report truthfully even as it rolls east to west across the country, escalating the fall.

[coppernickel]

An economic collapse will be impossible to report truthfully even as it rolls east to west across the country, escalating the fall.

I think you meant "East to West" as a spin of phrase, but would it start in the East, maybe New York, and move West?"

[Recyclersteve]

Not the healthiest of foods, but I’ve got plenty of foods like Spam (and Cheerios and canned peas and ammo too) to ride out the storm. I do plan on it being quite ugly.