"The Sky Is Falling"

There are some doom and gloomers. I don't think a world economic collapse will happen soon. However, history says no currency lasts as the main currency of the world. The petro dollar has been king but may not be sometime in the future. The Spanish empire, British empire all became weak. Many governments are deeply in debt. US has some $35 trillion dollars of debt. This is unsustainable. US will eventually have to drastically cut spending, raise taxes or the Fed will just keep printing money which will lead to more inflation. I have no doubt the worth of the dollar will decrease. Gold and silver are real historical money. I have them not as an investment but to preserve my wealth.

The BRICS nations are attempting to reduce using the US dollar for trade, they plan to create their own trading system backed by commodities and gold. This will put more pressure on the dollar, reduce it's value. Currently there are 15 nations in BRICS including Russia, China, India, United Arab Emerates, South Africa, Brazil and more have applied to join. This represents a majority of the human population.

Many banks around the world have been buying a lot of gold the last few years. Maybe they understand the growing problem of world debt and paper currency.

The majority of my investments are still in good company stocks/bonds, mutual funds. But a growing percentage of my portfolio will always be some gold/silver. Sometimes gold outperforms the S&P 500.

https://money.com/gold-vs-stocks-be...stment-2024/

to the CCF!

Some things to consider.... if the Federal Reserve hadn't injected trillions of $$$'s into the economy during the Pandemic, we most certainly would have fallen into another Great Recession or Depression. What did Stimulus do? Stimulus lead to artificially inflated values in the Real Estate, Stocks & the Crypto markets (very little, IMO, was driven fundamentally). Our National Debt is $34+ trillion & the interest payment this year alone will be nearly $1 trillion $$$'s. Even Fed Chair Jerome Powell stated.... "We're on an unsustainable trajectory", my interpretation.... every time something bad happens, the Fed will not be able to continue bailing us out w/ more & more free money. What's taking place in the economy currently? The stock market the DJIA fell -3.5% in 2 days, QQQ has fallen over -10% in 3 weeks & the SPY has dropped -5.5% in 3 weeks. The selloff in itself isn't atypical for the months of Aug, Sept & Oct, but its worth paying attention to. Why are the indices acting this way? Due to bad economic indicators & continued inflationary fears, plus the possibility that the Fed waited too long to cut interest rates, suggesting we may be on the verge of an economic downturn. IMO, we are on an unsustainable path, we're in the midst of an "Everything Bubble" & its not a matter of if, but when the markets tank. Those of us old enough to have lived through a few financial downturns are cognizant of the fact, they can/do/will happen.

LOL

This thread is off to a great start

A few years ago, my local supermarket had a 2 for one sale on manual can openers (I bought 4 sets ) I use one and just boxed up the rest in my emergency 'go box' with all my stored cans of food..

Then there's the case where the sun consumes its remaining hydrogen and helium, to eventually become a red giant. Then, all bets are off...

That is probably an understatement as well.