Anybody know what time it is?

[Jack Sprat]

Dollar devaluation, debt worries, dollar possibly being replaced as world currency, gold & silver going up, real inflation going up, Fed loaning big banks new dollars and big banks buying Treasuries back from the Fed for instant profits. I don't know much about investing by own admission.

If you have no personal debt and do have cash dollars for savings in credit unions, what are the risks to your cash if the dollar undergoes a major transition to a new world currency of some kind?

What would happen to personal investments in annuities with insurance companies if the dollar is replaced?

I am worried about all the uncertainty but like so many others, I don't know what to do to prepare myself for a cataclysmic economic event. Just hope the event doesn't happen. It would help if our congress was more endowed with economic majors instead of law degrees.

I think this is why there is so much gold/silver hysteria now. People who can afford it are buying it because they are uncertain about anything else.

[RandomThoughts]

1. shrug.

Birthers bought into a planned rumor also.

Most people by into things.


Say nothing someone has to figure it out and pick a decision

Say something, and someone has to figure it out, but they have a bandwaggon to jump on.



Or think and feel what you think is correct, and do your best.


However someone saying something, anything, no matter how ridiculous, has an effect, since it gives a choice someone else believes so they think it might be credible.

It is how they chew up followers. And when nothing is certain, it is really easy to try to find a position that people are said to believe, to jump in on it.

[hobbit709]

2. At this time of the day we called it beer:30.

[golfguru]

3. Dollar, Silver, gold, Confidence level, Jobless claims, Retail

Dollar drops to lowest since 2008...

Investors flee greenback; silver hits all-time high, gold sets new record...

GALLUP: U.S. confidence plunges, only 27% say economy is growing...

WAL-MART: Our shoppers are 'running out of money'...

JOBLESS CLAIMS 429,000...

Now only "hope" remains?

[Warpy]

4. The only way to know what the safest thing to do is

is to wait until the whole thing is finally over and count up who has what left.

[Jack Sprat]

5. I was afraid of that, Warpy.

I was afraid nobody else knew either, but I thought I would ask. It never hurts to ask.

[Warpy]

6. I'll probably do what my grandmother did in the Depression

and just ride it out. I've been saving about 1/3 of my income, so I have the cash reserve I'll need unless we get into the Weimar scenario.

My grandmother saw about a quarter of her stocks survive and by the time she died 20 years later, she was quite comfortable. The first of those 20 years saw her and my mother eating oatmeal three times a day, but they ate.

As for making a killing on this mess, I have no idea. I just know that precious metals rarely get what they're worth in a total meltdown like the Great Depression.