U.S. Dollar Meltdown

The Market Oracle ^ | 11-10-2009 | Mike_Shedlock

[blam]

U.S. Dollar Meltdown

Currencies / US Dollar
Nov 10, 2009 - 12:42 AM
By: Mike_Shedlock

I had the pleasure of reading a final finished copy of The Dollar Meltdown by Charles Goyette this past week.

Congressman Ron Paul offers an opinion on the front cover to which I certainly concur: "Goyette does a great job explaining why America faces a looming financial crisis and outlines commonsense strategies for individuals to protect themselves and their families. This book truly is a must read."

Before publication, I read a preliminary copy which explains this quote on the back jacket "The Dollar Meltdown is the definitive guide to where we are, how we got here, and what the best investment opportunities are looking ahead, regardless of one's personal views on the raging inflation/deflation debate" - Mike "Mish" Shedlock

Others on the back jacket endorsing the book include Jim Rogers, Lew Rockwell, and Peter Schiff.

Step by step Goyette outlines Where we are, How we got here, and What to do. The book is a nice blend of facts, humor, and practicality. It is easy reading and very difficult to put down.

Each chapter begins with a few thought provoking quotes on which Charles expounds. Here is the kickoff to Chapter 7, How It Comes Down.

"Don’t ask me where we’re going to find the money. I’m going to get it where Paulson found it”. - Charles Rangel, House Ways and Means Committee Chairman

Today was Presidents’ Day. Congress commemorated George Washington’s throwing a dollar across the Potomac by throwing $780 billion down a rat hole. - Jay Leno, The Tonight Show

[snip]

[silverleaf]

any excerpts on what individuals do to preserve themselves and their fammilies?

[blam]

Coast To Coast - Monday, Nov 9: Meltdown Of The Dollar

[RC one]

borrow money form the federal reserve and buy gold with it.

[FromLori]

Remember the other day we were talking about the pension problems and how they would break cities...

http://budfox.blogspot.com/2009/11/short-seller-dump-munis.html

[unixfox]

I would suggest investing heavily in ammo, liquor, tobacco and firearms.

You're gonna need em.

[djf]

I listened to it. He was very bullish on gold and silver. Did not go much into emergency preparedness, food, water, medical stuff though. Somewhat recommended against armaments as barter tools (too many different kinds of calibers, etc).

Not any mention of something we have discussed in the past, which is neighborhood discussions/planning.

Definitely seemed to think martial law was a possibility... basically said America as a Republic was finished.

Flat out said something I have said over and over: that the only skill most politicians have is the ability to make promises to people to sucker them into voting for them, then only to pay them off with benefits paid for with money they don’t even have!!

BTW, anybody know a good rifle that shoots .223 (not a Mini-14, already got one!). Bolt action ok.
I just want something else to back up what I already got!

[blam]

It won't be pretty.

It's not just the recession, which has reduced tax receipts. Rather, he says the poor economy "is masking real problems in municipal cost structures." The big problem, he says, is "the platinum-plated health-care and retirement benefits" given to state and local workers. "It's all coming home to roost" as boomers start to retire."

Move out of the city.

[The Duke]

any excerpts on what individuals do to preserve themselves and their fammilies?

A good, cost-effective start is:

• Stock you your "pantry" with *plenty* of food and consume and replentish the older stock. By *plenty* I mean to maybe try to have 3 months of food (you may need to extend your pantry into another room).

• I hear Berkey water filter systems have a very strong reputation - you should check into this.

• Put some energy into developing an emergency plan.

• If you get a generator, consider getting one that uses LP gas for fuel, rather than gasoline. (Also, don't forget electrical extension cords.)

• Stock up on tools and ammunition. An pellet gun might be a good idea, and maybe 1-2 squirrel/rabbit traps. (NOTE: The tools an ammunition might be good to use for barter later).

• If you're not physically fit, start a fitness program.

• Get an emergency radio.

• Print out contact lists that include not only friends and family, but also any other numbers you can imagine needing in an emergency (maybe names, numbers of hotels where you may wish to book reservations).

• Identify common rendezvous locations and phone numbers for relaying messages in the event of an emergency.

• Get a first aid kit.

• Buy a few MREs for eating on the road. Also maybe a spare fuel can for the vehicle.

These measures are not too costly, but they are a good start. I've been working at this and researching the topic for several months now.

[FromLori]

http://truthingold.blogspot.com/2009/11/if-your-advisorbroker-calls-to-sell-you.html

[djf]

Most of your stuff is pretty standard, good ideas. But one I would like to repeat and emphasize:

A pellet gun!

I have a Crossman pump .177 and honestly, for taking small stuff like birds and rabbits and squirrels, it’s pretty darn good!

Ammo is dirt cheap - I have a couple thousand pellets stashed.

But the biggest plus, I think, is this: it’s almost totally silent. Just a kind of SWOOSH! when it fires. That means you don’t scare the game around too much, and you don’t wake the neighbors or attract curious zombies.

Of course if the zombies show up, I just break out the bigger stuff (much, MUCH bigger!!)

[ASOC]

Get an Ak series in 223. Good as the original and as accurate as the Mini 14.

[djf]

They had a few at the gun show last time - Romanian and Czech.

But folks were warming me against them, saying the magazines were hard to find, unreliable, and outrageous on the wallet...

Not sure how much of that is true.

[editor-surveyor]

Gold is definitely beyond breakaway today.

Fasten your seat belts!

[ASOC]

A 20 rd metal (factory) magazine will run you between 30 and 40 USD.

Other than that, the manf makes them for the military and I think right now almost all the factory output is going to that.

Otherwise, they (the AK) functions just fine.

At 350USD or so (WASR 3) one of the least expensive semi auto 223s out there.