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Wednesday, December 19, 2018

Investments



Looks like the stock market will end the year in rough shape. When the financial guys talk about the worse loses since the lead up to the 1930 depression, you know something's wrong.

Bitcoin took some bad hits not that long ago. While I'm attracted to the idea of non-state sponsored money, Bitcoin has some flaws. We now see it's as susceptible to manipulation as any other financial instrument. Then there's the whole idea of Bitcoin mining. To me, it just seems wasteful to have computer power and massive amounts of electricity doing what's essentially non-productive work.

Gold and silver traditionally hold their value. However, there's the little issue of being able to transfer that value into useful items. The local Walmart won't take your precious metals for groceries. In the early days of financial collapse, cash is still king. Later on, it's possible that mechanisms for the exchange of metals could develop. After Argentina's financial collapse, black market stores eventually would take metals for consumer items. That didn't happen overnight.

The bulk of my income comes from my state pension. My guess is that it survive the early waves of private pension failures. I also suspect that its real world value will then plummet. However, as long as I can pay the basic bills for a while we should be good. Nothing is guaranteed, of course. I've come to accept a certain amount of unpredictability.

So what am I'm invested in? Well, recently I bought a burlap bag full of garbanzo beans. You may laugh, but I can eat the beans, unlike stocks, bitcoin, or precious metals. I'm a simple man.

-Sixbears

10 comments:

  1. I figure that my SS check will cover the mortgage...till they stop coming.
    At that point when SS goes bust, so too will the bank.
    Got plenty of beans n rice to cover the rest.

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    Replies
    1. As long as we outlast the banks we'll be fine. You don't want to go down in the early days, when they can still foreclose on things.

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  2. those who have food will survive....those who can PRODUCE food will thrive.
    got my victory garden and a box full of heirloom seeds, the tools and the knowledge to boot

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    Replies
    1. I like food plants that are low work, like my sunchokes that thrive on poor soil and neglect.

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  3. So funny. Before I read the end of your post I was thinking my investment was in our health i.e. quality foods and herbs. Guess we are on the same wavelength.

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  4. I agree with you, food is as good or better than $$$ and everybody needs it to live even if nothing bad occurs. Great insurance - I'm sure our ancestors looked at a root cellar with a lot of satisfaction when they were full.

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    Replies
    1. My ancestors spent a lot of effort putting up food for the winter. Food security is in my blood.

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  5. I’m ok with being paid in gold. I’ll make pretty jewelry out of it and exponentially increase its value. Post-apocalyptic-boho-style earrings are back in fashion.

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