It may seem odd to think about how to prepare for economic collapse and the possibility of a complete US or a global imminent economic collapse right now. After all, the stock market is up and unemployment is down- things have gotten markedly better than they have been in years. There are those that believe that we are in the exact same place we were in 2008, right before we slipped into one of the worst recessions in US history. With our stock market set up with artificially inflated numbers due to an overly aggressive bond-buying program, we may soon see the entire economic system collapse upon itself. The entire market is currently predicated on a system of borrowing and investing and financial engineering that can’t bear its own weight.
So that raises the question; how to prepare for economic collapse? We don’t mean the stock market dropping a little, or the price of gas going up a few dimes. We mean to say the complete collapse of the economic marketplace that would make your bank accounts void and the currency in your pocket to become worth only as much as the cost of the paper. What if you had a newborn or small child at home, you as the head of your household have an obligation to protect your family. You need to know what is going to help you and your loved ones survive an economic collapse.
3 Tips on How to Prepare for Economic Collapse!
Bartering Will Be Huge
Bartering is our oldest system of currency; physical goods or services for physical good or services- square deals built on a handshake. When money becomes worthless, barter will once again become the currency of the common man. That means you need to have either goods to trade, or a trade to ply. A few good items that you can stock up on now that will have huge value include personal toiletries, salt, liquor, staple foods, and if you have the ability and room- livestock and small game. As for trades, make sure you have some skills that will be in demand. You may be a marketing director now, but there will be little need for those skills in a collapse. Find a skill that will have real value; whether it is gardening, blacksmithing, knife sharpening, vehicle and mechanical repair, carpentry- anything that can provide a real and practical value.
Don’t Trust All Your Money to the Bank
If the grid went down tomorrow every dollar in your account would float away like so much data. Don’t leave your survival to chance. While paper money will eventually become worthless, in the beginning cash will be king. There will be those who believe the system will right itself and they will be rich with all the cash they make. Keeping this in mind, start stashing away a little bit of cash every time you can. $20 here and there, maybe $100 when you can- anything to start a safety net of cash.
Eventually once you have a pretty good stockpile, say $5000, you should start considering a real investment.
Precious Metals Will Always Have Value
Even as our dollar lowers in value every day, precious metals like gold and silver are steadily climbing in value. In 2006 gold was priced out at $472 dollars an ounce. As of this writing, it has climbed to a staggering $1,132.85. It has nearly tripled in value over a 9 year period. You won’t find a stock market investment that will yield that kind of return. As the dollar deteriorates, it will be precious metals that our economy turns to.
When answering the question how to prepare for economic collapse you have to keep in mind that disasters don’t really care very much whether you believe in them or not. That’s part of their strength, they happen when we least expect it and often despite our best efforts and intentions. You owe it to yourself and your family to be prepared for the very real possibility of a coming economic collapse. Nothing we have talked about here can hurt, it is all solid and logical. The only thing you are doing is giving yourself the peace of mind that you can protect your family and continue to provide for them.
Let’s keep the discussion going.