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Stop 401k contributions or sell off gold (or "is the collapse coming?")
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bucky Offline
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Post: #1
Stop 401k contributions or sell off gold (or "is the collapse coming?")
This question is mainly for my fellow American shitlords.

Let's say you bought a car and it turns out after a few months that you stretched yourself a bit thin financially and could use a few hunderd bucks extra some months to make the payments. You contribute a few hundred to your 401k each month, and you also have about 10k worth of gold and silver coins. Which would you do, stop contributing to the 401k or sell of some of the gold and silver here and there as necessary?

In thinking about this, I realized that it really comes down to whether or not you believe that the USD or the US government itself is eventually going to collapse in your lifetime. I've always felt that the system is unsustainable and will collapse sooner or later, but then again I've been expecting it within the next ten or twenty years most of my life, and I'm almost 50 now. Maybe things will just continue to limp along more or less like they are now and those 401k fiat dollars will be more valueable than the coins when I'm retired in a few decades.

I'm interested in hearing your opinions. Totally hypothetical question and just asking for a friend, of course.

Feminism in ten words: "Stop objectifying women! Can't you see I've hit the wall?" -Leonard D Neubache
09-08-2019 09:32 AM
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joseph15 Offline
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Post: #2
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
I don't really see how the USD can collapse like other currencies have way back in history. I think the world learned its lesson and most countries in the world have stabilized their inflation rates to 2% - 3%. Now, a sort of collapse could still happen in the case of an economic collapse but I don't see how that would happen to the biggest powerhouse in the world, at least over the short term.
09-08-2019 10:51 AM
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Dr Mantis Toboggan Offline
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Post: #3
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
If you have employer matching on your 401k continue to contribute at least to that limit. Any dollar your employer matches is essentially earning 116% (with the first 100% being risk-free)and another 8% being "house money") in the market rather than 8%.

I got my Magnum condoms, I got my wad of hundreds, I'm ready to plow!
(This post was last modified: 09-08-2019 11:17 AM by Dr Mantis Toboggan.)
09-08-2019 11:16 AM
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Pinocchio Offline
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Post: #4
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 10:51 AM)joseph15 Wrote:  I don't really see how the USD can collapse like other currencies have way back in history. I think the world learned its lesson and most countries in the world have stabilized their inflation rates to 2% - 3%. Now, a sort of collapse could still happen in the case of an economic collapse but I don't see how that would happen to the biggest powerhouse in the world, at least over the short term.

https://www.usdebtclock.org/
09-08-2019 11:30 AM
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Incubus Offline
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Post: #5
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
Too me there is no difference between a central bank (all countries) printing money and thus de-valueing it's currency by "over supply"
VERSUS
stimulus driven over supply of low interest money

The first case drove germans with wheel barrows full of worthless money into the second world war

We (the world) are in uncharted territory and gold? does not have a "fixed value" anymore and cannot be used to fix a currency value (any country)
The US dollar is "the gold standard" pun intended.
The US dollar is set... by a basket of other stable world currencies...or dollar index

The trouble for the dollar is when that basket of country currencies have some/most/all countries playing the stimulus game (fake economy) and manipulating their currencies true value... and world currency traders/speculators short sell etc.

IF every country in the world paid off thier debt today there would be such an over supply of currency that the currency would be worthless

Bank of England Central Bank Head (Carney?) has already said a month ago that the world must drop the US dollar and go to a world crypto currency ..... this is needed for world trade and currency exchange
Of course this bank of england guy is retiring and has lots to say on the problem he created and how to now fix his problem ( all central bankers)

I am pretty sure "isolationism" is coming back along with protectionism (as trump and other countries are doing) because world trade is only working for countries where workers are kept poor and the currency manipulated (china)
These countries steal jobs and intend to steal every job in wealthy countries ... trump doesn't blame these countries these countries are on to a good thing....but it has to stop

So
1) World trade is fragmenting into one on one country deals
2) currencies are devalued because of stimulus with fake economy keeps currency at a fake value
3) before the debt bubbles burst... World Crypto currency ( us dollar replacement) will be of real value not gold or platinum
4) Lack of oil supplies will cause many wars probably China will be the first to go

Disclaimer... I get all my financial news from google... so all may be wrong

............LIFE isn't a DRESS REHEARSAL.........
09-08-2019 12:11 PM
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Swordfish1010 Offline
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Post: #6
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
Gold is alright, but bitcoin is where the future is heading.
09-08-2019 12:13 PM
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JiggyLordJr Offline
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Post: #7
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
Keep the gold, stop 401k payments.

With Social Security drying up (if it's not already a desert), who knows where they'll be taking from to keep the gravy train running.

The great thing about gold is it can only be taken out of your cold, dead hands.
09-08-2019 12:31 PM
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joseph15 Offline
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Post: #8
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 11:30 AM)Pinocchio Wrote:  
(09-08-2019 10:51 AM)joseph15 Wrote:  I don't really see how the USD can collapse like other currencies have way back in history. I think the world learned its lesson and most countries in the world have stabilized their inflation rates to 2% - 3%. Now, a sort of collapse could still happen in the case of an economic collapse but I don't see how that would happen to the biggest powerhouse in the world, at least over the short term.

https://www.usdebtclock.org/

People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me
09-08-2019 12:47 PM
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zoom Offline
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Post: #9
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.
(This post was last modified: 09-08-2019 12:59 PM by zoom.)
09-08-2019 12:58 PM
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Swordfish1010 Offline
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RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 12:31 PM)JiggyLordJr Wrote:  Keep the gold, stop 401k payments.

With Social Security drying up (if it's not already a desert), who knows where they'll be taking from to keep the gravy train running.

The great thing about gold is it can only be taken out of your cold, dead hands.

Bitcoin is 100000x harder to seize than gold. FDR made holding gold illegal in the past, no reason to think it won't happen again.
09-08-2019 01:27 PM
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Swordfish1010 Offline
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Post: #11
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

People talk about our debt to gdp but the big elephant in the room is the liabilities on our books, like social security, medicare, gov employees, etc. Also GDP treats healthcare costs (sickness measure, healthy people don't go to the hospital much) and military costs (murder) as beneficial to the overall bottom line.
09-08-2019 01:33 PM
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Post: #12
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.
09-08-2019 01:56 PM
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Swordfish1010 Offline
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Post: #13
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 01:56 PM)joseph15 Wrote:  
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.

Nice fallacy. The old "it hasn't happened yet, therefore it will never happen." We are absolutely heading into the worst global recession of all time. Check the charts. Negative interest rates, quantitative easing, high consumption mindsets with no savings, it's definitely starting to feel a little like what I have read about the fall of Rome right before the house of cards collapsed.
09-08-2019 02:02 PM
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joseph15 Offline
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Post: #14
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 02:02 PM)Swordfish1010 Wrote:  
(09-08-2019 01:56 PM)joseph15 Wrote:  
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.

Nice fallacy. The old "it hasn't happened yet, therefore it will never happen." We are absolutely heading into the worst global recession of all time. Check the charts. Negative interest rates, quantitative easing, high consumption mindsets with no savings, it's definitely starting to feel a little like what I have read about the fall of Rome right before the house of cards collapsed.

I literally said a recession is probably coming soon- but the US will recover (I guess you think it won't?). Stop the fear mongering. You'll get out of it alive and in 10 years, I promise you that your house will still be worth more than it is today.
09-08-2019 02:23 PM
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Post: #15
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 09:32 AM)bucky Wrote:  This question is mainly for my fellow American shitlords.

Let's say you bought a car and it turns out after a few months that you stretched yourself a bit thin financially and could use a few hunderd bucks extra some months to make the payments. You contribute a few hundred to your 401k each month, and you also have about 10k worth of gold and silver coins. Which would you do, stop contributing to the 401k or sell of some of the gold and silver here and there as necessary?

You're attacking this problem from the wrong end. The solution doesn't require tuning your crystal ball to look at problems of future economy.

Your problem is in the present. You took on more car debt than you can afford. You need to solve the car problem. Solving the car problem may involve taking a loss, but it is not unreasonable that your lender may waive or settle the outstanding balance if you surrender the car to them.

For your next car you may need to expand the geographic area of your search, but there's no reason you shouldn't be able to get a reliable vehicle for under 10,000 USD inside the United States. You may even be able to be a reliable and cool vehicle. Think about an original Lexus IS300 or similar vehicles with excellent parts availability and well documented reliability records. Suppose you spend 5000 US on the car and a couple thousand more bringing it up to excellent condition. Your transportation problems are solved for the forseeable future.

When buying a car the smart way you:
  1. Don't obsess over the blue book, because...
  2. You need to focus on total cost of ownership.

A car's like real estate that wears faster to the point spending more than necessary on the wrong parts of ownership is a burden on your finances.

Money is good. It represent potential. On this front savings trump any particular car. Your monthly car payment is attacking your networth with both interest and depreciation of the asset. Any solution other than escaping this mess in favor of a car that doesn't endanger your net worth is actively making you poorer.
09-08-2019 02:51 PM
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Swordfish1010 Offline
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RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 02:23 PM)joseph15 Wrote:  
(09-08-2019 02:02 PM)Swordfish1010 Wrote:  
(09-08-2019 01:56 PM)joseph15 Wrote:  
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.

Nice fallacy. The old "it hasn't happened yet, therefore it will never happen." We are absolutely heading into the worst global recession of all time. Check the charts. Negative interest rates, quantitative easing, high consumption mindsets with no savings, it's definitely starting to feel a little like what I have read about the fall of Rome right before the house of cards collapsed.

I literally said a recession is probably coming soon- but the US will recover (I guess you think it won't?). Stop the fear mongering. You'll get out of it alive and in 10 years, I promise you that your house will still be worth more than it is today.

Yeah and I am saying that this current game is over after the next recession. We aren’t going back to unsound money after this time, there is a better option now. All fiat currencies will fail eventually, and already headed that direction with their continued decreasing purchasing power. It’s useless arguing though because most people won’t realize bitcoin is the answer until it is too late. It will be a new golden era for people that figured this out now and prepare rather than keeping their heads in the sand.
09-08-2019 03:11 PM
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Arado Offline
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Post: #17
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 02:51 PM)BBinger Wrote:  
(09-08-2019 09:32 AM)bucky Wrote:  This question is mainly for my fellow American shitlords.

Let's say you bought a car and it turns out after a few months that you stretched yourself a bit thin financially and could use a few hunderd bucks extra some months to make the payments. You contribute a few hundred to your 401k each month, and you also have about 10k worth of gold and silver coins. Which would you do, stop contributing to the 401k or sell of some of the gold and silver here and there as necessary?

You're attacking this problem from the wrong end. The solution doesn't require tuning your crystal ball to look at problems of future economy.

Your problem is in the present. You took on more car debt than you can afford. You need to solve the car problem. Solving the car problem may involve taking a loss, but it is not unreasonable that your lender may waive or settle the outstanding balance if you surrender the car to them.

For your next car you may need to expand the geographic area of your search, but there's no reason you shouldn't be able to get a reliable vehicle for under 10,000 USD inside the United States. You may even be able to be a reliable and cool vehicle. Think about an original Lexus IS300 or similar vehicles with excellent parts availability and well documented reliability records. Suppose you spend 5000 US on the car and a couple thousand more bringing it up to excellent condition. Your transportation problems are solved for the forseeable future.

When buying a car the smart way you:
  1. Don't obsess over the blue book, because...
  2. You need to focus on total cost of ownership.

A car's like real estate that wears faster to the point spending more than necessary on the wrong parts of ownership is a burden on your finances.

Money is good. It represent potential. On this front savings trump any particular car. Your monthly car payment is attacking your networth with both interest and depreciation of the asset. Any solution other than escaping this mess in favor of a car that doesn't endanger your net worth is actively making you poorer.

I think OP is correct to think about how to strategically position his assets in the upcoming economic volatility but he also needs to look at the liabilities column as well. Having a car outside his budget is going to take resources away from other preparations that he needs to be working on.

I still think he should go for the employer matching, that's pretty much free money.
09-08-2019 03:39 PM
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Repo Online
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Post: #18
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
Well how much is in your 401k right now? That's pretty important here. Also, it's not like your 401k needs to be stocks if that's a concern.
(This post was last modified: 09-08-2019 04:26 PM by Repo.)
09-08-2019 04:25 PM
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Post: #19
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

But when matters. And joseph is saying it'll be at least 50 years

While I'm concerned about a great many things, the funny thing is that ... trends continue, especially compared to once in a lifetime dire predictions. Just ask Peter Schiff.

Get your passport ready!
09-08-2019 08:49 PM
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Post: #20
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 03:11 PM)Swordfish1010 Wrote:  
(09-08-2019 02:23 PM)joseph15 Wrote:  
(09-08-2019 02:02 PM)Swordfish1010 Wrote:  
(09-08-2019 01:56 PM)joseph15 Wrote:  
(09-08-2019 12:58 PM)zoom Wrote:  They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.

Nice fallacy. The old "it hasn't happened yet, therefore it will never happen." We are absolutely heading into the worst global recession of all time. Check the charts. Negative interest rates, quantitative easing, high consumption mindsets with no savings, it's definitely starting to feel a little like what I have read about the fall of Rome right before the house of cards collapsed.

I literally said a recession is probably coming soon- but the US will recover (I guess you think it won't?). Stop the fear mongering. You'll get out of it alive and in 10 years, I promise you that your house will still be worth more than it is today.

Yeah and I am saying that this current game is over after the next recession. We aren’t going back to unsound money after this time, there is a better option now. All fiat currencies will fail eventually, and already headed that direction with their continued decreasing purchasing power. It’s useless arguing though because most people won’t realize bitcoin is the answer until it is too late. It will be a new golden era for people that figured this out now and prepare rather than keeping their heads in the sand.

Sword, what hard wallet do you use or recommend?

Get your passport ready!
09-08-2019 08:50 PM
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Post: #21
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 08:50 PM)Kid Twist Wrote:  
(09-08-2019 03:11 PM)Swordfish1010 Wrote:  
(09-08-2019 02:23 PM)joseph15 Wrote:  
(09-08-2019 02:02 PM)Swordfish1010 Wrote:  
(09-08-2019 01:56 PM)joseph15 Wrote:  lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.

Nice fallacy. The old "it hasn't happened yet, therefore it will never happen." We are absolutely heading into the worst global recession of all time. Check the charts. Negative interest rates, quantitative easing, high consumption mindsets with no savings, it's definitely starting to feel a little like what I have read about the fall of Rome right before the house of cards collapsed.

I literally said a recession is probably coming soon- but the US will recover (I guess you think it won't?). Stop the fear mongering. You'll get out of it alive and in 10 years, I promise you that your house will still be worth more than it is today.

Yeah and I am saying that this current game is over after the next recession. We aren’t going back to unsound money after this time, there is a better option now. All fiat currencies will fail eventually, and already headed that direction with their continued decreasing purchasing power. It’s useless arguing though because most people won’t realize bitcoin is the answer until it is too late. It will be a new golden era for people that figured this out now and prepare rather than keeping their heads in the sand.

Sword, what hard wallet do you use or recommend?

I like the Coldcard and Bitfi.
09-08-2019 10:39 PM
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Post: #22
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 11:16 AM)Dr Mantis Toboggan Wrote:  If you have employer matching on your 401k continue to contribute at least to that limit. Any dollar your employer matches is essentially earning 116% (with the first 100% being risk-free)and another 8% being "house money") in the market rather than 8%.

Quote of the day.

That being said, I didn't start my 401k until I was well into a six figure income. Sure, it helps to start in your early 20's but when I was making 50k/year, I needed that money now for rent/food/job loss and I prayed to God that an extra $200 per paycheck wouldn't be as critical for me when I'm 60 than when I'm 25 and struggling to make ends meet.

A lot of these financial wizards encourage young people to squirrel away 20% of their income for these type of savings and miss out on vacations, going out, etc, but what they don't take into account is the unknown. You could be dead before 60 years old. You could get an inheritance, you could start a company and become a billionaire. I promised never to save anything past a income safety net as long as I had a five figure income.

I've accumulated more in my 401k in the past six months than I could have in my first 6 years of working combined.

I built this empire and I did it by myself. Nobody did it for me. Not Ivana, not Marla. Nobody! ~Donald Trump
(This post was last modified: 09-08-2019 11:45 PM by Graft.)
09-08-2019 11:40 PM
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Graft Offline
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Post: #23
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 01:56 PM)joseph15 Wrote:  
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.

One of the worst mistakes that I made in my life was overdosing on Schiff/zerohedge/Faber when I graduated college, avoided the stock market, collected gold, and worked low paying jobs in anticipation of "The Big Collapse."

I graduated with about $30k in savings from working college jobs and living at home. Had I put that into FANG stocks I would have a nest egg well into six figures and probably own a house right now.

A lot of these guys make technical sense but it's extremely obvious that they have no fucking idea when there is going to be a huge collapse, so they miss out on an entire epic bull run. A broken clock is right twice a day.

I built this empire and I did it by myself. Nobody did it for me. Not Ivana, not Marla. Nobody! ~Donald Trump
09-08-2019 11:53 PM
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VNvet Offline
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Post: #24
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 12:47 PM)joseph15 Wrote:  Debt is healthy

That's not true.

(09-08-2019 12:47 PM)joseph15 Wrote:  biggest powerhouse in the world today, and the same will be true 50 years from now.

No, it won't.

https://www.brookings.edu/blog/the-avenu...-projects/
09-10-2019 04:59 PM
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Post: #25
RE: Stop 401k contributions or sell off gold (or "is the collapse coming?")
(09-08-2019 11:53 PM)Graft Wrote:  
(09-08-2019 01:56 PM)joseph15 Wrote:  
(09-08-2019 12:58 PM)zoom Wrote:  
(09-08-2019 12:47 PM)joseph15 Wrote:  People keep acting as if all that debt has to be paid off by next year. Debt is healthy and like I said, biggest powerhouse in the world today, and the same will be true 50 years from now. Somebody bump me

They said the same thing about the Roman Empire. You don't seem to have a clue about economics.

The USD will collapse. It's not a matter of if it's a matter of when.

lmao, there's a whole niche of internet marketing that is based off of making money of old, gullible people who have been convinced to think that the next crisis/economic collapse/civil war/ice age is coming. By drawing parallels to the Roman empire I imagine you may be part of that crowd. There will be an inevitable recession of some sort (as there has always been) but the US will recover and come back stronger, as it always has. Even mentioning the Roman downfall is asinine.


If this forum sticks around and I don't die, i'll gladly bump you every 5 years as a reminder.

One of the worst mistakes that I made in my life was overdosing on Schiff/zerohedge/Faber when I graduated college, avoided the stock market, collected gold, and worked low paying jobs in anticipation of "The Big Collapse."

I graduated with about $30k in savings from working college jobs and living at home. Had I put that into FANG stocks I would have a nest egg well into six figures and probably own a house right now.

A lot of these guys make technical sense but it's extremely obvious that they have no fucking idea when there is going to be a huge collapse, so they miss out on an entire epic bull run. A broken clock is right twice a day.

Your timing was just off. There is no point in playing the what if game. If you want to go that route, you would have made way more money in bitcoin than in FANG stocks, and bitcoin is a hedge type asset like gold.
09-10-2019 10:04 PM
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