I can't believe how stupid I have been

[mav]

for being responsible and actually saving money.  I am such a fool.

 

http://www.reuters.com/article/2013/03/16/us-eurozone-cyprus-idUSBRE92E02220130316

 

It appears that savers in Cyprus are gonna take it the rear when up to 10% of their savings get confiscated.  At the rate our country is spending, this will be a likely scenario here in the near future. 

 

Question.  If our money is pretty much going to be worthless in a few years, and our retirement savings will more than likely be seized, what is the purpose in saving?  (Using my Bob Barker voice) Why not just live it up like there is no tomorrow?  Buy that house or car you can't possibly afford.  Wanna get that 120 inch LED you've been dreaming about, but just can't afford it?  No problem, just come on down and swipe that plastic and promise to pay back the money.  If your house goes into foreclosure, no problem because you may qualify for one of the many government programs that will bail you out courtesy of taxpayers.

 

You often read complaints about politicians on this forum, and rightly so.  However, you don't read a lot of complaints about the people who vote the jackasses in.  In my mind, they are worse than the politicians.  Anyone that votes for a politician to get stuff is really nothing more than a thief if you consider they are electing someone who has promised them that they will take from one group, i.e. taxpayers, and give to another group.  The really sad part is regardless of who controls the government, it will never change. 

 

So, back to my question, what is the purpose of saving?

[Guest Cami]

Why do we trust banks either?  I could happen here, easily.  Obummer thinks he owns us already after all...

[Guest ThePunisher]

Yep, been a lot of conversation about gov't. controlling all the IRA, 410, 403 retirement funds, so they can write you an IOU just like they did with SS. They are nothing more than thieves in the night or day. Time to get you a big jar of Vaseline b/c the gov't is going to stick it to you.

[runco]

I am no economist, but I do think having large sums of "cash" is dangerous. I think owning something other than cash is wise. Property, goods, stocks, metals, etc. is more wise than having cash. Think for a moment, if cash was worthless, those other items will be worth something, maybe not cash, but something.

[Guest Sgt. Joe]

I am a long ways from being a rich man but I do tend to keep more in cash than I do in a bank savings account. It has nothing to do with anything that has happened recently and probably more so because of a story my Gran-Dad told me about losing his life's savings during the depression. I started keeping cash while still in basic training and initial Army schooling against all advice, but I kept my mouth shut about it and so far I have not had a bad experience because of it.

My FIL (73) still walks around with 5K or more in cash in his wallet and pockets. Even though he can tell you almost exactly to the dollar how much he has at any given time it still scares me because he loses track of his wallet pretty regular these days. I, on the other hand have one large and several smaller safes hidden within the house along with a couple other places to stash things like cash and ammo.

FIL's B-Day is next week and I have ordered him a Spec-Ops brand large wallet which should help him to keep up with his things a bit better. I think my wife said she was going to buy him a small safe like mine. He also has a lot of old coins that he keeps in a cardboard box and there is no telling what they are worth, so a safe would be good for him to have.

Since he is now living with us I do feel responsible in helping him keep up with his things. And like he says, the banks dont even pay us any interest to add up to much these days either. At soon to be 74 years old it is darn hard to argue with the man on what he should do with his own things, so I just try to help him the best that I can.

I think in a "worst case" situation that guns, ammo and food supplies will be the most valuable items to have.

 

My wife is wanting to invest some of her money in something that will always be worth something and we have been talking about her buying mid-ranged priced guns and ammo in standard calibers for that purpose. At first she kinda blew that idea off but has of late been beginning to see that I may be right. As I have told her that even if nothing ever happens in our lifetime, which we certainly hope to be the case, that any gun or ammo will always be items that will retain and most likely increase in their value.

 

Save????.......... Heck no.......Spend Spend Spend :rock:

[RED333]

The government has been looking at IRAs in the past.

http://www.wnd.com/2012/11/now-obama-wants-your-401k/

I am torn between cash and "stuff" as we all are, I have never trusted banks.

Years ago the banks that an past governor was part of here in TN went  bad,

a lot of people lost money, me as well. That burned me on banks, so I have it

spreed around in diff places, banks, lawyers, and "hard stuff".

[Earl33]

I am no economist, but I do think having large sums of "cash" is dangerous. I think owning something other than cash is wise. Property, goods, stocks, metals, etc. is more wise than having cash. Think for a moment, if cash was worthless, those other items will be worth something, maybe not cash, but something.

The bad thing about property is the tax you pay on it.. IMO not a good option to own lots of land.. Picture this, paperless money?? Debit cards, already in use.. All transaction are traceable and monitored.. Then one day you wake up broke as broke because your number was lost in the system somehow.. Ummmm!! 

[Raoul]

Ah yes. Good ole Jake.

[Randall53]

AMMO.....the gold of today is GUNS 'N AMMO.....The gold of tomorrow my just be FOOD.....MRE's, freeze dried whatever....and WATER.  I just picked up a few 5 gallon food grade buckets today to make a water filter.  a fix'n to buy 6 months worth of 20 year storage food.  I have learned something from the present ammo shortage.  Can you even imagine the stores after 3 days in a large scale emergency?

[Randall53]

The government has been looking at IRAs in the past.

http://www.wnd.com/2012/11/now-obama-wants-your-401k/

I am torn between cash and "stuff" as we all are, I have never trusted banks.

Years ago the banks that an past governor was part of here in TN went  bad,

a lot of people lost money, me as well. That burned me on banks, so I have it

spreed around in diff places, banks, lawyers, and "hard stuff".

 

 

Retirement accounts are the largest part of Obama's "spread the wealth around" target. Socialism....it's what Obama has for breakfast.

[billyscott]

Punisher, RED333, Randall53, I agree with what you say. I believe retirement accounts will be a target in the near future. 

[Randall53]

This is 3 years old....but NOW he has no need to make anyone happy for his re-election....

 

 

http://www.wnd.com/2010/01/123024/

[Rowdy]

Confiscating our property can't be done without the consent of congress. If they start to talk about it, it's torches and pitchforks time.

[Guest zort]

well im glad i dont have the problem of having too much money, j/k,

[Oh Shoot]

Confiscating our property can't be done without the consent of congress. If they start to talk about it, it's torches and pitchforks time.

 

They couldn't make us buy something either, but they did. Couldn't ban guns because of 2A, but they did.

 

- OS

Edited March 18, 2013 by Oh Shoot

[Guest HvyMtl]

Confiscating our property can't be done without the consent of congress. If they start to talk about it, it's torches and pitchforks time.

And you must think the two parties are independent of each other, and not wings of the same vulture.

[Rowdy]

My only point is this: Obama can't tax our funds without the approval of Congress, he can't do it on his whim. Yeah, I know the spine of your average congressman is composed of linguini. But for the time being Mr Obama can't do this of his own initiative.

[Guest Cami]

He sure does like executive orders though.  There are a lot of tax and spend liberals in the halls of congress (on both sides).  I expect food will be the next thing to come in short supply.  Gardens are your best friend.

[Dennis1209]

Why do we trust banks either?  I could happen here, easily.  Obummer thinks he owns us already after all...

 

 

You bet ya! To my knowledge, most employee payrolls and all government checks are electronically deposited now so you also lost that much more control of your finances. What a convenient way to save a few bucks!

 

You are required to pay your yearly taxes in full by law by a certain date. What Constitutional law requires with holding of taxes every pay check? Try to get your with holdings dropped and pay it all lump sum when due.

 

Also, check out who actually owns what's in your bank safety deposit boxes during a national emergency! Think I'm kidding?

 

Disclaimer: I prefer Reynolds Wrap 3:1 over the other the leading brands for my head wear.

[LagerHead]

I am no economist, but I do think having large sums of "cash" is dangerous. I think owning something other than cash is wise. Property, goods, stocks, metals, etc. is more wise than having cash. Think for a moment, if cash was worthless, those other items will be worth something, maybe not cash, but something.

 

When the economy crashes commodities will definitely increase in value. It won't necessarily be monetary value but having some meat will definitely trump having a leather couch. 

 

AMMO.....the gold of today is GUNS 'N AMMO.....The gold of tomorrow my just be FOOD.....MRE's, freeze dried whatever....and WATER.  I just picked up a few 5 gallon food grade buckets today to make a water filter.  a fix'n to buy 6 months worth of 20 year storage food.  I have learned something from the present ammo shortage.  Can you even imagine the stores after 3 days in a large scale emergency?

 

Agreed to a point. But the gold of today will always be gold. The value of gold has remained pretty much constant for a couple thousand years now. There hasn't been found a single commodity against which you can so accurately and consistently measure the value of goods yet. While guns, ammo, food, etc. will definitely have an intrinsic value that will increase in a financial collapse scenario its value will always be able to be measured against that of gold, and people will always take gold in trade for any of the above. 

 

Confiscating our property can't be done without the consent of congress. If they start to talk about it, it's torches and pitchforks time.

 

You need to come to downtown Nashville and tell that to the people who used to own property where that money pit they call a convention center now sits. 

[peejman]

Being fiscally responsible can be very, very frustrating.  Everyone has people they know who are perpetually in debt, regardless of their income.  I read somewhere that people's spending/saving habits are pretty much set by the time they're 18.  It doesn't matter how much money they make, they'll either save a bit or spend it all and then some. 

 

Buy a box of ammo that should be $15 for the new $30 price on the way home.  You'll feel better.  :)

[Dennis1209]

You need to come to downtown Nashville and tell that to the people who used to own property where that money pit they call a convention center now sits.

 

Imminent domain and condemnation are all that's needed, no need for any new laws to confiscate property. The Emergency Powers Act will take care of the rest.

 

Another thought... Wealth and property are not destroyed, they are simply transferred to someone else over time. One of the best and least noticed mechanisms for this gradual transfer is inflation and taxes. Think about that for a moment if you will.

[LagerHead]

You need to come to downtown Nashville and tell that to the people who used to own property where that money pit they call a convention center now sits.

 

Imminent domain and condemnation are all that's needed, no need for any new laws to confiscate property. The Emergency Powers Act will take care of the rest.

 

Another thought... Wealth and property are not destroyed, they are simply transferred to someone else over time. One of the best and least noticed mechanisms for this gradual transfer is inflation and taxes. Think about that for a moment if you will.

 

Awesome observation. Inflation is called "the hidden tax" because it is a way for the government to get more of your taxes without passing a law to do so. 

[Rowdy]

You need to come to downtown Nashville and tell that to the people who used to own property where that money pit they call a convention center now sits. 

I wasn't referring to real property, I was referring to personal property which isn't subject to the laws of imminent domain. I was referring to our cash and bank accounts. I was simply stating that the house of representatives would have to take an affirmative vote to tax bank accounts.

By the way, don't think that the cash in your mattress is safe; there are mechanisms for them to get at that too.

[Earl33]

I like the barder system..