What do you do to protect your family from inflation?

2009-07-25 09:10:38

#1

Harmor: Error_Name_Not_Found; +605|6838|San Diego, CA, USA

When I Google this I get a bunch of different answers and, well unreliable sources. From all indicators we are about to start an inflationary cycle and I'm curious what can be done to protect oneself?

2009-07-25 09:14:50

#2

ATG: Banned; +5,233|6819|Global Command

Own a bank.

The only entities that prevail in that cycle are:

A) governments in debt

B) mortgage companies

If an inflationary cycle is indeed coming AND China moves to a asset backed currency ( generally thought to be copper atm ) then yes, metals are a good bet.

Other than that, purchase items that can be bartered such as food, stored water, first aid and guns and ammo.

2009-07-25 09:18:35

#3

Krappyappy: 'twice cooked beef!'; +111|7109

invest your money into goods and commodities. gold, oil, real estate are all things i like.

you can also purchase a stable foreign currency.

2009-07-25 09:29:40

#4

Catbox: forgiveness; +505|7006

run for office or get a govt job... When spending in the govt is nuts it's a good idea to save your money like a lot of people are doing...
I realize this doesn't help inflation but the people that save will at least have the money to buy the inflationary priced products..

The unfortunate part when everyone saves...
is that people who make a living in the service industry and who depend on cash coming
in from wealthy people going out to the movies or a bar or a restaurant or vacation spot...car detailing...landscaping...construction projects for fixing older homes... etc etc(ripple effect)...make no money or a lot less money.... The little guys suffer the most...

Their is money to be spent but when people aren't sure what crazy thing the govt will think of next or what business they will take over... Or what rules will change to take care of paybacks for support... People who make a boatload of money will pull back and make sure they are protected... rather than spending money on recreation or business expansion(buying new equipment...hiring new employees...leasing bigger workspace etc) So we get what we have now... buckle up and enjoy the ride... The govt is doing this for your own good.

Last edited by [TUF]Catbox (2009-07-25 09:32:27)

Love is the answer

2009-07-25 09:30:30

#5

Harmor: Error_Name_Not_Found; +605|6838|San Diego, CA, USA

With a 'global economy' where everyone's hand is in the cookie jar, which foreign currency is stable?

2009-07-25 09:35:58

#6

DrunkFace: Germans did 911; +427|6971|Disaster Free Zone

Borrow money and buy property.

Don't save anything.

Harmor wrote:
With a 'global economy' where everyone's hand is in the cookie jar, which foreign currency is stable?

Well you could pick from one of these.

http://www.labnol.org/internet/countrie … sion/8814/

Last edited by DrunkFace (2009-07-25 09:38:21)

2009-07-25 09:41:17

#7

Krappyappy: 'twice cooked beef!'; +111|7109

the european central bank has kept a tight lid on inflation through some of highest interest rates on earth, the euro isn't a bad bet.

drunkface wrote:
don't save anything

this man has it right. holding on to money during high inflation is the fastest way to be the man with a wad of worthless paper. or more likely today, a meaningless number on a computer somewhere.

2009-07-25 09:42:51

#8

Ioan92: Member; +337|6012

What do you do to protect your family from inflation?

Create uprising, start WW3.

2009-07-25 09:58:50

#9

Macbeth: Banned; +2,444|5875

Invest in guns

2009-07-25 10:59:13

#10

Turquoise: O Canada; +1,596|6695|North Carolina

ATG wrote:
Own a bank.

The only entities that prevail in that cycle are:

A) governments in debt

B) mortgage companies

If an inflationary cycle is indeed coming AND China moves to a asset backed currency ( generally thought to be copper atm ) then yes, metals are a good bet.

Other than that, purchase items that can be bartered such as food, stored water, first aid and guns and ammo.

Pretty much.

2009-07-25 22:46:54

#11

S.Lythberg: Mastermind; +429|6736|Chicago, IL

borrow lots of money, inflation decreases the relative magnitude of debt...

however, it also diminishes savings in the bank, so purchasing something of constant relative value (i.e. precious metals) will also be a good move (and you don't feel like taking on any more debt)

2009-07-25 23:52:01

#12

Cybargs: Moderated; +2,285|7006

Own a sweatshop. Seriously.

https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png

2009-07-26 01:39:43

#13

Spark: liquid fluoride thorium reactor; +874|6964|Canberra, AUS

Harmor wrote:
With a 'global economy' where everyone's hand is in the cookie jar, which foreign currency is stable?

Ours is probably good because our hand is in the Chinese cookie jar... and they're still making a shitload of cookies. If you live here, you should've invested in iron ore and other resources companies as of ten years ago and not let go.

P.S. We're about to go into an inflationary period as well. Seems like the stimulus has worked, which is good. I was skeptical at first but it seems that throwing money at the economy and at people's wallets does seem to pay dividends.

But I don't see how you guys are going into an inflationary cycle:

http://www.inflationdata.com/inflation/ … ation.aspx

2009 0.03% 0.24% -0.38% -0.74% -1.28% -1.43%

If anything you're going the other way.

Mind you, I'm not an economist, but my economist friends tell me that "[inflation]'s not really important right now, no"

Last edited by Spark (2009-07-26 01:44:54)

The paradox is only a conflict between reality and your feeling what reality ought to be.
^{~ Richard Feynman}

BF2S Forums What do you do to protect your family from inflation?

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