What if the Dollar collapses? New currency?

[Bisley Man]

Some cash on hand is a good idea for SHTF(if you have some).But what if the SHTF IS the Dollar imploding? Besides barter, what would become the "new currency"? Real silver, gold coins? Gold jewelry? Fer-Fal(?), in Argentina posted he wished he collected gold rings to use this way. What do you think?

 

[Eddie]

Depends

It would depend on several factors. In the long run, precious metals are a good bet, but in the short run, they may be just as subject to inflation as paper money.

Consider, in a stable economy with a predictable supply of goods and services, you might be willing to trade your goods or services for precious metals or gems. On the other hand, in an unstable situation, say widespread famine as a result of the dollar's collapse, you might not place such a high value on gold or silver as you would on a can of green beans.

If I had to bet, I would say gold since that has been a good bet for the last few thousand years, but for short term SHTF, keeps some other items on hand for trade. No one can raise the price on something you already own.

 

[redneckmedic]

Ammo will be currency at that point. If the dollar collapses vs getting replaced its a very very bad day. I guarantee a full society collapse.

Now if it gets very low and get replaced by a NWO denomination or something there of, maybe not. But no matter how it works out, precious metals will always hold some value against currency, and you can't go wrong with guns and ammo, they too will always keep up some value.

 

[darinb]

I think it all depends on the severity of the sitaution as in is this a total societal collapse in which the economic system will never get started again or something of a lesser degree though still devastating. I think precious metals would be ok if the system would get started up again and use the same basis of value. However I dont see gold and silver being worth much to a starving person with a family to feed. Your childs hungry groans are enough to trade offthat golden nestegg for food, water,supplies and firearms. Gold is ok but give me something life sustaining. If the economy collapses I have did everything I can humanly do to prepare for a situation like that but in the end I have to realize that the Lord is still in control.

 

[irishfan]

Food, clean water, clothes, ammo, and other barter items of neccesity would be main lines of currency. A bad but true way to look at it is there will be a lot of gold and silver rings and jewelry after a prolonged disaster because you can bet dead people will be looted and there will be many who don't make it through a situation that may only last a few weeks let alone years.

 

[mrw]

Guns, Ammo, Food and Liquor. Not necessarily in that order.

 

[HandK]

Guns, Ammo, Food and Liquor. Not necessarily in that order.

Yep!! what he said.

 

[Bisley Man]

Ammo will be currency at that point. If the dollar collapses vs getting replaced its a very very bad day. I guarantee a full society collapse.
.

I'm afraid I agree about the dollar collapse=society collapse.

Food, clean water, clothes, ammo, and other barter items of neccesity would be main lines of currency. A bad but true way to look at it is there will be a lot of gold and silver rings and jewelry after a prolonged disaster because you can bet dead people will be looted and there will be many who don't make it through a situation that may only last a few weeks let alone years.

God help us

Guns, Ammo, Food and Liquor. Not necessarily in that order.

I think so too. If there's still some food ,Liquor would be liquid gold.

 

[ThrottleJockey]

These:

And here is your new flag:

But I'll still fly these:

 

[Cpt Caveman]

Prepping is a series of decisions you make on what to get to be better prepared and when to get it. If you buy a buncha gold coins first before you have your beans, bullets, and band-aids in order you are making a fundamental error. You need to have the things put up that will keep you physically alive through rough times first then get some precious metals.
The thing with gold and PMs is that they aren't affected by inflation. The fact that gold is worth so much isn't a reflection of its preciousness getting higher, its a reflection of the value of the dollar getting lower.
Back in the forty's you could take a $20 gold coin to a habidasherie ( sp)( men's clothes store)and buy a tailor made suit , a well made high quality suit. You take that same $20 gold coin today and turn it into dollars and that's what the same suit today costs. Its not that the gold is becoming more valuable, its the fact that gold keeps its value while the dollar tanks that makes it a safe guard against inflation.
Now back to the OP. If I wanted to have barterable stuff on hand I'd think about camping gear, blankets, extra food( set aside as barter goods),alcohol, tobacco, and as a last resort bullets. I'd have to need what they had to trade pretty badly before I'd let my bullets go in that situation.
Having hard assets is a good way to protect your money during an inflationary time. Which is on the way coincidentally. Buy ( or cut) firewood. when the schumer HTF its gonna be worth a lot.

 

[4sarge]

It's NOT If the Dollar Collapses, it's WHEN the Dollar Collapses. At the current rate of deficit spending, Obama Care, Govt Motors, Cap and Trade, Illegal to Instant Citizen Status, Redistribution of Wealth Schemes we are sliding into oblivion on a Progressive George Soros Greased Slope. I'm hoping and praying that some in Washington will Wake Up, and 2010 will tip the Balance but Sadly I'm Not overly optimistic

 

[Spot Me 2]

The thing I think is funny is that you asked "what if......?". It's not what if, but when and how soon!!!! Keep stocking up my friends!! Keep stocking up.

 

[Spot Me 2]

It's NOT If the Dollar Collapses, it's WHEN the Dollar Collapses.

It's not what if, but when and how soon!!!!

Same thought at the same time. You posted when I was typeing. Like minds think alike!

 

[Hoosier Gun Coat]

Other barter items basic foods (particularly oil), garden seeds, toilet paper, hand sewing needles & thread, .22LR ammo, matches, razor blades, wire & cloth.

 

[Gray Squirrel]

Guns, Ammo, Food and Liquor. Not necessarily in that order.

Add medical kit.

 

[mrw]

FWIW. Last year when everything was hitting the fan my Uncle stepped up his gold purchases. He'd go in once a week and buy gold. One day he asks the owner what he's buying. The guy replies, "Food". I think that says a lot.

 

[Eddie]

What can you do?

Do you ever ask yourself what can you do, as opposed to what do you have? If SHTF as bad as this thread contemplates then knowing how to make soap or liquor or tan hides gives you an unlimited supply of trade goods. So does having a garden or an orchard.

 

[Cpt Caveman]

Skills are just as important as hard assets. Maybe more important in some situations. If you don't know how to apply a pressure bandage to a wound all your gold isn't gonna help you.

 

[edsinger]

realize that the Lord is still in control.

 

[Dr Falken]

Isn't there some passage in the Bible in regards to people throwing their gold into the streets because it's worthless? I think that if I had food and other tangibles, why would I want gold, unless it was to pay bills or other money transactions. I wouldn't buy gold unless I was really wealthy. In my current situation, I'd buy the things I need, then perhaps other things for trade, than lastly, precious metals. There might be some sense in having junk silver and what not for trade, or purchasing, but only if it can be used to purchase other goods.