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Old 08-10-2010, 08:08 PM
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Default My plans for the future include gold and farm land.



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I have always wondered who specific families in North Central Iowa, where I grew up, ended up with so much paid off farm land. During the 1960s and 70s the price of land was so high a man had to take a job in town just to pay the mortgage on a quarter section. So I asked my dad and several others.

Turns out that many of these folks were patient enough to save their money during the late 1920s when crop prices and land cost were at their highest, then bought up large farms in the early 1930s when prices for prime farm ground fell along with the stock market.

I think I see a repeat of this coming in a few years. Land prices are still high due to grain prices driven up by diverting corn and soy to ag fuel production and this year wheat is high due to poor crops overseas, but.

I believe that our economy will be tanking again and the stock market and the price of farm land will fall sharply over the next 2-3 yrs. If this happens, I believe I could buy up a section or more of prime land at a bargain. All I have to do is maintain the buying power of my current savings.

That is where the gold comes in. I have my food, my guns, my preps, I even have a small ranch bought and paid for. Now I am planning to make the next three generations of may family rich as well. I plan to protect the buying power of my savings for 2-3 yrs by investing 1/3 in gold and silver to balance out the currency expansion just announced by the Federal Reserve and the Treasury.

I know, I know, you can not eat gold. But do you know how much food can be raised on a full section of prime farm land?

What happens if the economy does not recover? What if they confiscate gold and the entire worlds economy tanks and chaos is the future? Well, I still have the other 2/3 rds invested in food, guns, preps, and a small ranch.
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Old 08-10-2010, 08:11 PM
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Color me envious.
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Old 08-10-2010, 08:17 PM
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Here in Minnesota, I've traced my genealogy and in multiple cases I can point toward poor immigrants who obtained 40-80 acres by the Homestead Act of 1862. Fairly cheap. I read records of the early farming. Drawn plow, planting between tree stumps, hard work. But some of my ancestors went on to found churches, run creamery co-ops, obtain 200+ acres, etc. That era came to a close, though, when the lands were divided/sold by their descendants. Sometimes the farm was too close to an urban area and taxed through the roof (my grandfather's farm).

So I don't know of anyone who obtained land during the Depression (I suspect most lost it then, especially the Dust Bowl era). Best way to have land is to chose your parents carefully, I guess. So I don't know how likely it is for most people to ever save enough to buy land these days, but I certainly agree with the goal!
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Old 08-10-2010, 08:50 PM
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Here in Minnesota, I've traced my genealogy and in multiple cases I can point toward poor immigrants who obtained 40-80 acres by the Homestead Act of 1862. Fairly cheap. I read records of the early farming. Drawn plow, planting between tree stumps, hard work. But some of my ancestors went on to found churches, run creamery co-ops, obtain 200+ acres, etc. That era came to a close, though, when the lands were divided/sold by their descendants. Sometimes the farm was too close to an urban area and taxed through the roof (my grandfather's farm).

So I don't know of anyone who obtained land during the Depression (I suspect most lost it then, especially the Dust Bowl era). Best way to have land is to chose your parents carefully, I guess. So I don't know how likely it is for most people to ever save enough to buy land these days, but I certainly agree with the goal!
My grandfather lost one farm and bought a second one during the 1930s. While the US was still in the depression during the late 1930s, most of Europe was already fighting WW2 and paid good money for our grain.
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Old 08-10-2010, 09:35 PM
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nice Hicks.. color me envious too..
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Old 08-11-2010, 12:27 AM
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If you have a ranch you have plenty of places to bury that gold so the "bad guys" don't get it. Even the other 2/3 of your assets bury very nicely.

I like gold myself and my land is mainly good for only growing trees and a very nice size garden. But I can recover enough gold to make me smile on this acreage that was last mined in the 30's. The guys with the water cannons left a little for the rest of us.

You are set very nicely and it looks like a great plan to make it through the big fall.

Red
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Old 08-11-2010, 12:37 AM
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aram,

From what I read, many of those homesteaders proved up on their land and then sold it to the local land baron who'd bankrolled them. A pretty sneaky deal, if you ask me.
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Old 08-11-2010, 11:14 AM
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In the end, the one who has the land wins. For centuries in Europe and elsewhere, it was the system of primogeniture (http://en.wikipedia.org/wiki/Primogeniture) that forbade the dividing of the farm among siblings. First born son got the whole works. That's good and bad when you think about it. But by the 19th century, there were huge numbers of propertyless 2nd+ born men/families with no resources, so they came to the Americas.

My grandfather profited during the Depression, but this was only possible because he was a man of means by the time he was in his 30's (His parents died young and he inherited their farm -- which came from his own grandparents via the Homestead Act).

It's worthwhile to note that huge tracts of land remain today -- BLM land, national forests, most of Canada, etc. but there's been nothing as radical as the Homestead Act. The banks control the grid of available land, prices are propped up that way, and owning a ranch or hobby farm is price-fixed out of reach for most people. You can't just get 40 dirt-cheap acres somewhere (unless you're leasing BLM-type land for ranch purposes) for homesteading or farming. The banksters prohibit that, what's not government owned is basically on their grid.

There's a subtle policy of rural depopulation going on.
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Old 08-11-2010, 01:06 PM
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Most people from my area in Oklahoma amassed their fortunes in real estate/property/mineral rights during the depression.
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Old 08-11-2010, 01:22 PM
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Quote:
Originally Posted by Hick Industries View Post

I think I see a repeat of this coming in a few years. Land prices are still high due to grain prices driven up by diverting corn and soy to ag fuel production and this year wheat is high due to poor crops overseas, but.

I believe that our economy will be tanking again and the stock market and the price of farm land will fall sharply over the next 2-3 yrs. If this happens, I believe I could buy up a section or more of prime land at a bargain. All I have to do is maintain the buying power of my current savings.

That is where the gold comes in. I have my food, my guns, my preps, I even have a small ranch bought and paid for. Now I am planning to make the next three generations of may family rich as well. I plan to protect the buying power of my savings for 2-3 yrs by investing 1/3 in gold and silver to balance out the currency expansion just announced by the Federal Reserve and the Treasury.

I know, I know, you can not eat gold. But do you know how much food can be raised on a full section of prime farm land?

What happens if the economy does not recover? What if they confiscate gold and the entire worlds economy tanks and chaos is the future? Well, I still have the other 2/3 rds invested in food, guns, preps, and a small ranch.
It's a good plan. Make sure that you keep enough ready cash to meet the bills and that the pantry and medicine chest are full, then invest the surplus in land at low low prices. They will go back up. gold as you know is not an investment, it is a wealth preserver.

I'm a few years behind you. I need to pay off my mortgage then bank cash to buy up teh neighbors as they get depserate to sell. But the mortgage has got to be paid off first.
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Old 08-11-2010, 03:14 PM
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Maybe so. But hundreds of thousands left penniless to California, etc. One of the largest internal migrations in the US (http://en.wikipedia.org/wiki/Dust_Bowl). The ones that could remain probably weren't tenant farmers, etc. Prices undoubtedly dropped through the floor, and they gobbled up property when the buying was good.

Probably work that way again, though, since we don't really have locally-run economies any more. If there are buying opportunities, national/international/large-scale speculators may run in at prices well above what the locals can afford.

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Most people from my area in Oklahoma amassed their fortunes in real estate/property/mineral rights during the depression.
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Old 08-11-2010, 03:33 PM
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Don't forget to add physical silver along with your gold.
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Old 08-11-2010, 06:50 PM
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Quote:
gold as you know is not an investment, it is a wealth preserver.
When I first started college and had my first economics class "wealth preservation" was one of the pieces of the definition that made up currency, i.e. the dollar. To be a good form of currency money had to...

1. Serve as a medium of exchange, accepted in exchange for goods and services
2. Be a unit of account, i.e. this cost $10 and that cost $15
3. Easily divisible
4. Store of Value

I still have a couple of text books that have this definition in it, but most textbooks today have stripped the 4th item out of the definition. I wonder why?
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Old 08-11-2010, 07:45 PM
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My brother bought a small 10 acre farm, and he has to work his tail off growing stuff for the local farmer's market and a couple of restaurants. It's a ton of work and not much money. He may lose the place to foreclosure if he doesn't get a real job. The place is for sale but no offers have come thru yet. It's in a very high priced neighborhood, and his asking price is astronomical. He may end up taking a real beating on it.

The fantasy of owning a farm may sound like fun, but it's a lot of hard physical work without much pay.
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Old 08-11-2010, 07:47 PM
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Quote:
Originally Posted by aramchek View Post
In the end, the one who has the land wins. For centuries in Europe and elsewhere, it was the system of primogeniture (http://en.wikipedia.org/wiki/Primogeniture) that forbade the dividing of the farm among siblings. First born son got the whole works. That's good and bad when you think about it. But by the 19th century, there were huge numbers of propertyless 2nd+ born men/families with no resources, so they came to the Americas.

My grandfather profited during the Depression, but this was only possible because he was a man of means by the time he was in his 30's (His parents died young and he inherited their farm -- which came from his own grandparents via the Homestead Act).

It's worthwhile to note that huge tracts of land remain today -- BLM land, national forests, most of Canada, etc. but there's been nothing as radical as the Homestead Act. The banks control the grid of available land, prices are propped up that way, and owning a ranch or hobby farm is price-fixed out of reach for most people. You can't just get 40 dirt-cheap acres somewhere (unless you're leasing BLM-type land for ranch purposes) for homesteading or farming. The banksters prohibit that, what's not government owned is basically on their grid.

There's a subtle policy of rural depopulation going on.
I noticed that families that were originally from England tended to follow this approach. Families from Germany and Norway like mine tend to divide everything equally among their kids.
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