Somehow I’ve always been pretty good at listening to what people say, as opposed to judging them and closing my ears before they even have a chance to speak. I abhor the politicians in our country and so I generally ignore politics and claim to be apolitical for the most part. I guess I am socially liberal and fiscally conservative.
I really didn’t know a whole lot about Ron Paul before learning how money was made. The media makes him out to be a joke, so I kind of thought of him in that light. Bear in mind that I am currently credentialed as a Certified Financial Planner and spent 5 years managing money for clients, and I was never taught in any course or credential how our currency comes into existence.
Once I was taught how U.S. dollars come into existence, I understood why it’s not taught. A fourth grader could tell you it’s unsustainable. If you haven’t seen Mike Maloney’s video series called, Hidden Secrets of Money, I highly recommend it to absolutely everyone. Beware, it’s kind of like taking the red pill in the movie the matrix.
Anyway, I came to find out that Ron Paul is not a joke at all. He seems to be one of the very few honest politicians, who is looking out for the average person. I stumbled upon this interview while surfing YouTube and definitely think it’s worth sharing.
He believes we are on the brink of a massive financial crisis, worse than 2008 and even worse than the great depression. He says this time will go beyond banks and real estate, and it’s our currency that will be in question.
He says, it’s not a question of IF this will happen, but WHEN.
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The federal reserve bank has created 4 trillion dollars in base currency since 2006 and they made it out of thin air. It’s just digits on a screen, but the effects are real. Dr. Paul says that investors around the world will soon realize that the US dollar is no longer the safe haven that it once was and that will create a crisis of confidence.
And when currencies collapse, nearly everything else goes with it. He talks about how the middle class gets wiped out when currencies lose value and nations are destroyed.
He says that the inflation that is coming will completely destroy the stock market, going on to say, ” Imagine 2008, black Monday, and even the crash of 1929 all happening in a single day!”
The government will be broke and so there will be huge changes in social security, medicare, and all government programs that millions of people rely on. He says that he wouldn’t be surprised if the government took over people’s 401k’s and IRAs, which would then force people to buy government bonds.
He says that we are likely to see all kinds of new rules and laws pertaining to where people are allowed to put their money.
His major concern isn’t the stock market crash, but the effect it will have on our rights and our civil liberties.
He says that the standard of living that Americans have come to enjoy since World War II could evaporate overnight, as they wake up to find that milk and bread have skyrocketed in price.
This is scary stuff and it’s not fun to think about. Our politicians have kicked the can as far as it can go and sticking our heads in the sand does not prevent the storm from coming.
Faith in money allows businesses to keep their doors open and when there is no faith in money, social unrest becomes more likely and especially in highly-populated areas.
So, how can people prepare for economic collapse?
1. Keep your money at a credit union, not a bank. The large multi-national banks have enormous investment portfolios with derivatives exposure that the average person cannot possibly comprehend and when the markets crash, their depositors’ will eventually be on the hook to keep the bank afloat, and FDIC insurance won’t have enough money to refund depositors. Credit unions are a totally separate system and credit unions don’t have multi-billion dollar investment portfolios with derivative exposure.
2. Have cash available to invest, but not held in a brokerage account, held in your credit union account. Cash held in brokerage accounts are generally invested in money markets, which are not insured and can easily lose value in a panic. The money market in your brokerage account would then be frozen, preventing you from getting your money.
3. Buy gold and silver, and junk silver. At the time of this writing it takes 70 oz of silver to buy one oz of gold and that is at an historic extreme. Normally it only takes around 47 ounces of silver to buy one ounce of gold. Gold is NOT overvalued as of October 2018… Silver has never been cheaper and is actually below the cost for miners to pull it out of the ground. Because miners make so little pulling silver out of the ground and selling it, there has been very little exploration since 2011 and so supply is constrained. That’s a good thing if you’re buying today, because it means much higher prices down the road. Gold and silver coins have always been money to everyone in every country for 5000 years. No matter what, there is no safer asset to own during financial turmoil.
4. Invest in stocks that are fairly valued and right now, that’s not many. I’m currently looking to precious metals royalty companies, food companies, and oil companies. Companies that sell staples, like toilet paper and toothpaste are good bets and so are companies that sell alcohol or pot. This is not an official recommendation and I am not liable for any financial decisions you make.
5. Have At least 3 months of full living expenses in your credit union savings account and 6 months or more is ideal. Don’t forget to keep a few thousand bucks at home, just in case there is a run on the banks and they close their doors. Don’t think that’s possible? I withdrew $8000 from my savings account and the manager asked me to call with at least 24 hours notice, because they don’t keep that much cash on hand anymore and he won’t have cash to hand out to other customers! In the beginning of a financial panic, people still accept cash so you wanna have some.
6. Have emergency food, water, and medical supplies on hand. There is a company called Mountain House that sells freeze-dried food that lasts for 14 years. It doesn’t hurt to have a few packages laying around. Better to have them and not need them, than need them and not have them. Having emergency food around is insurance that actually makes sense to me.
7. Have a garden and learn to grow some of your own food. Install solar so you can generate some of your own power. The cost of these staples will sky rocket in a currency crisis and being able to create some of your own is a way to save money and be less dependent on the system.
8. I’m not a gun guy, but the same can be said about having a gun. If, God forbid there happens to be social unrest, better to have one and not need one, than the other way around.
9. Buy bitcoin. Just in case block chain technology is the next financial system, it makes sense to have a small percentage of your portfolio in bitcoin. The bitcoin block chain network is one governments cannot touch, thus far. It allows people to trade huge amounts of money without a middle man and no oversight, so governments do not like it and are looking for ways to control it, but so far cannot. It was specifically designed to keep governments and banks out of transactions. If you are self employed and accept credit cards, then you understand what it’s like to have someone taking a little bit from everything you sell and each transaction.
10. Make sure your passports and ID’s are up to date, in case you have to bug out!
11. Protect your income. If no one is spending, you won’t have a job and it is unlikely that you will be able to take gold, silver, or even bitcoin to the grocery store to buy food. Once the banking system is back up, everything will still be digits on a screen and so it will be important to have money flowing into your bank account from somewhere.
I chose to learn affiliate marketing, which is selling other people’s products and services and earning a commission as the middle man. It is the easiest way for the average person to go into business for themselves online. Plus, when no one is hiring and everyone is looking for work, they will go to the internet. People will look for ways to make money from home and being there first will allow me to serve them and profit from them.
This is depressing stuff. My wife certainly hates talking about it, but if you are like me, then you feel like the last line of defense for your family.
I feel unpopular and somewhat isolated at times, but I will never regret buying gold or silver. I will never regret learning how to grow my own food. I will never regret having solar panels and being able to generate some of my own power, and I will certainly never regret learning the skills that enable me to make money online. It’s the portion of our safety net I value the most!
Plus, my oldest daughter really wants to start her own YouTube channel and I can help her do that! The internet marketing I’ve learned ties directly into social media and soon enough she will know how to make money through YouTube too. It’s unique father/daughter bonding time.
My kids get to help me in the garden and I get to teach them about energy because of our solar panels. I am teaching them entrepreneurship and the value of having work skills by setting up lemonade stands. Lots of positives can come from apparently negative circumstances.
If Ron Paul is right and unfortunately I think he is, then print out this list above and check them off one-by-one. You won’t regret being prepared.
If you can think of other items I should add to this list, please let me know.
If you need a pick-me-up because I’ve just depressed you, check out how Tony Robbins says to break negative thinking!
Matt T. Nathanson
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PRINCIPLE #2 INVEST IN YOURSELF
“Every day I make sure that in some capacity, I’m investing in myself. Unlike school, as a self-learner, you get to choose the areas you’re enthusiastic about and you get to choose the people that you’re learning from.” The most important investment I’ve ever made has been in me and my education, not a 401k. The return on your investment is the ability to earn income, no matter what the economy is doing.
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