Seriously, has anyone thought about the fact that we may no longer be the currency of trade in the world, and how will you be prepared when it does in a decade.

If the dollar loses status as the world's most reliable currency the United States will lose the right to print money to pay its debt. It will be forced to pay this debt," Bove said. "The ratings agencies are already arguing that the government's debt may be too highly rated. Plus, the United States Congress, in both its houses, as well as the president are demonstrating a total lack of fiscal credibility."
~cut~
"If (dollars) no longer offer the safety that investors have come to expect, they will not function as the stable collateral required by bank funding markets," Barry Eichengreen, a professor at the University of California, Berkley, warned in a Financial Times commentary late last year. "They will not be regarded as an attractive form in which to hold international reserves. And they will not be seen as a convenient vehicle for merchandise transactions."

"Longer term, of course, countries are going to diversify away from the dollar if they can. There are more favorable investment opportunities out there if you can catch yield," said Christopher Vecchio, currency analyst at DailyFX, a trading firm. "Despite the increase in risk to the U.S. dollar and Treasury, investors still feel safest at home."

But the Federal Reserve's successive quantitative easing programs, which have created $3 trillion in new greenbacks, continue to spur worry over the dollar's status.
http://www.cnbc.com/id/100461159

I would probably take some silver and gold and buy bitcoins.

Then I would tell my employer to pay me in real money (gold/ silver), or bitcoins if he must.

And I would discharge my debts/ monthly bills in bitcoins and keep the real money hidden.

I would also purchase a sailboat, if I hadnt already.

Quote from: TowardLiberty on May 30, 2013, 07:22:37 AM
I would probably take some silver and gold and buy bitcoins.

Then I would tell my employer to pay me in real money (gold/ silver), or bitcoins if he must.

And I would discharge my debts/ monthly bills in bitcoins and keep the real money hidden.

I would also purchase a sailboat, if I hadnt already.

All good ideas, though I don't trust any form of online currency exchange, especially if everything goes to crap, too easy for the Govt to intrude and demand a cut..
Love the sail boat idea, stay off shore, or head to calmer waters always appeals to me.

I don't know, but it is keeping me up at night. 

Quote from: taxed on May 30, 2013, 02:34:47 PM
I don't know, but it is keeping me up at night.

I don't think any of us can conceive just how bad it will be, that is, if it happens quickly, if slowly, we will adjust somewhat, but not well.

Quote from: Solar on May 30, 2013, 09:20:16 AM
All good ideas, though I don't trust any form of online currency exchange, especially if everything goes to crap, too easy for the Govt to intrude and demand a cut..
Love the sail boat idea, stay off shore, or head to calmer waters always appeals to me.

Yes, the sailboat idea is something I am moving toward regardless.

Taking sailing lessons this summer.

It helps living a mile from Kemah, Tx.

Quote from: TowardLiberty on May 30, 2013, 03:23:00 PM
Yes, the sailboat idea is something I am moving toward regardless.

Taking sailing lessons this summer.

It helps living a mile from Kemah, Tx.

I used to have an 18' Hobie Cat, loved sailing, but up here in the mountains the wind is crap on the lakes.
Yeah, if I was your age, I too would consider a sail boat, maybe even another country altogether.

Quote from: Solar on May 30, 2013, 04:46:31 PM
I used to have an 18' Hobie Cat, loved sailing, but up here in the mountains the wind is crap on the lakes.
Yeah, if I was your age, I too would consider a sail boat, maybe even another country altogether.

Bingo.

You're reading my mind.

Quote from: TowardLiberty on May 30, 2013, 05:40:17 PM
Bingo.

You're reading my mind.

What country?

I would prefer Switzerland, but they are already closing their borders because of people fleeing the EU. Andorra is a small beautiful country, except they are socialist too so I guess without a coup d etat that is out of question. Tyranny is the norm, liberty the exception.

Quote from: Mountainshield on June 06, 2013, 12:49:50 PM
What country?

I would prefer Switzerland, but they are already closing their borders because of people fleeing the EU. Andorra is a small beautiful country, except they are socialist too so I guess without a coup d etat that is out of question. Tyranny is the norm, liberty the exception.

I am thinking somewhere in south America.. need to travel first and see what is out there.

Quote from: Solar on May 30, 2013, 04:46:31 PM
I used to have an 18' Hobie Cat, loved sailing, but up here in the mountains the wind is crap on the lakes.
Yeah, if I was your age, I too would consider a sail boat, maybe even another country altogether.

Well, over Christmas, I'm checking out Ecuador.    Although, they also use the US dollar.

Quote from: Chortovka on September 07, 2013, 10:58:48 AM
Well, over Christmas, I'm checking out Ecuador.    Although, they also use the US dollar.

Not a bad choice, if you like that kind of weather.

Ya, a number of South American countries are looking better and better these days. The same goes for the Caribbean. A guy I met on a MC forum sold everything and moved to Costa Rica in '05 or so (he and his wife absolutely love it there). However, the high humidity and hurricane threat alone would make me think twice...

Anyway; What Will I Do If The Dollar Loses It's Power In The World?

Well, it's not "if", it's when imo (thanks to our lousy Demrino leaders). This, and the fact that most investment vehicle APRs are at or below 3.5%, makes financial planning far more risky that it was in the recent past (but hey, our Derino leaders are set for life now aren't they?).

Having said that, I've done (or plan on doing) the following:

1. Pay for just about everything upfront (i.e. put little or nothing on credit).

2. Always factor in taxes and other "hidden" fees and costs (I'm constantly surprised by the number of people who don't even know what they're paying tax and fee wise on a gallon of gas).

3. I've diversified my investments into 4 major groups; i.e. stocks, CDs, property and savings accounts.

4. Buy American made (or, at the least, assembled) products whenever possible.

5. Buy things that I really have a need or use for (i.e. reduce impulse buys).

6. Seriously rethink any plans for foreign vacations (I like to tell myself that the world is a mess anyway). Besides, the people that I've know who've traveled the world claim that only 3-4 "places" were really worth the trip (these included New Zealand, Ireland, and Scotland). I'll also note that there are numerous "must see" places here in the U.S. that I've yet to visit.

Assuming worst case scenario, diversification into the form of items that can be bartered for goods may be something to consider.
Things as simple as toothpaste, laundry soap dry foods and canned goods, motor oil, things most here take for granted due to low cost and availability. These are items that will either become scarce or rise in price and could bring a good return for a small investment.

Being that they don''t require refrigeration, a small storage container in the backyard and stocked full, could run a total cost of less than a grand.
Pros and cons: Con, you may wind up having to use them yourself, but regardless, they are not going down in cost, so it's a win win, so be sure and buy things you yourself will use.
The pro in the equation is that you'll have something in demand and can charge a premium on, or barter for things you need.

No matter what, your return is guaranteed to increase, so there is no loss.
Just be sure to buy in bulk or on clearance.

All good points Solar. Everyone of them.

I'd say that potable water (and the filtration systems that create the same) might be the most important thing to have on hand. Tents and tarps would/could be useful barter items as well.

Speaking of "stocking up," I once had a well equipped garage that included many items that you've mentioned. Building materials (wood, steel, and plastic), countless fasteners, and a bunch of power and hand tools; I, or should I say, my wife of the time and I seemed to everything you could imagine in that garage including a couple of 7 gal. buckets of powdered laundry soap (the "Costco craze had just hit town and boy, did we buy a bunch of stuff in bulk). Sadly, a bumpy divorce, along with the passage of a couple of decades, pretty much wiped that all out (I got to keep my 10 year old 4 x 4 truck and she got to keep our brand new sports car).

But ya, I used to buy motor oil a couple of cases at a time whenever it went on sale (whether I needed it or not). Had a friend who bought a "truck load" of surplus fasteners for pennies on the pound... Man, I ended up an entire 4 ft. high heavy duty metal chest of drawers full of both inch and metric fasteners of every type you can imagine (I, a long time auto mechanic, wasn't even sure what some of them were for...).

And I used these tools and materials more than some might think; automotive and motorcycle bits and pieces, a pair of MC rear sets (foot pegs), a wooden wood working tool chest (that I have to this day), an eight foot work bench with built-in steel drawers, numerous bicycle and RC car, buggy, and boat repairs (for my son and his friends), shelves for this and tables for that. I even built an electric 3/4 hp air compressor w/ a 5 gal. detachable tank just for the fun of it. Most of the necessary materials and components were already laying around in my garage and backyard, so I said what the heck... just had to weld a frame up from an old steel bed frame (this material was difficult to weld because of the high carbon steel) The crazy thing was that I already had a store bought 1.5 hp 20 gal electric compressor!

Yep, those were the days I guess.

Sorry for the boring story...