As the U.S. dollar weakens and the price of goods such as petrol, gold, grains rise, many of us fear for the economic stability of the country. The U.S. dollar is weak and it may be too late to save the finances of this debt-driven economy. Anyway, it’s not too late to learn some basic survival tips. So how the dollar affect not only United States but all countries that economically depends of it, this article is for all us, simple people.
Here is are a few tips how to survive economic collapse:
Surviving Economic Collapse
1. Read. Educate yourself before hand if possible. Read everything you can on how to survive a total economic collapse. Start with “Financial Reckoning Day: Surviving the Soft Depression of the 21st Century” and “Empire of Debt: The Rise of an epic Financial Crisis” both by William Bonner, for a historic perspective and very well-written analysis of the current situation. Also read “The Great Bust Ahead: The Greatest Depression in American History” by Daniel A. Arnold.
2. Plan. Make a plan for how to survive a total economic collapse. List your debts and assets. How quickly can you pay down your debt, while still purchasing necessary supplies? Your goals should include no debt and the procurement and storage of valuable assets. Your preparation timetable should be as short as possible.
3. Nix Debt. Pay off debt and avoid new debt by paying with cash instead of credit cards. Concentrate on paying off high-interest debt, loans with adjustable rates and unsecured debts first. Sell expensive vehicles that have loans to pay off what you owe, and buy cheaper replacements using cash. To survive a total economic collapse, you need to have assets, not liabilities. (Note: storing food and resources are higher priority than paying down debt for families of modest means.)
4.Buy Silver. Change liquid savings into silver and gold. If the dollar collapses, having precious metals will preserve your money and it can be used as currency or exchanged for a currency with value, such as Swiss francs. As the dollar continues to loose value, silver dollars preserve their value or go up in value, thus protecting your assets in if an economic recession, allowing you to survive financially recession or depression.
5. Invest wisely. Re-evaluate your stocks and mutual funds. To financially survive a total economic collapse, your investments must be secure. Consider putting some of your stocks into gold or opening a precious metals IRA. Research stocks that will survives a total economic collapse through websites like Daily Reckoning Day.
6. Store grain. Purchase goods and valuables such as guns for hunting and personal protection, and basic food supplies such as whole grains and legumes, which are easy to store. Invest in water purification bottles and tablets, and keep some bottled water on hand to meet immediate needs in the event of a shortage. All of these will make it more possible to survive a total economic collapse.
7. First aid. Prepare a First Aid Kit, sewing kit and other practical necessities of daily life to aid in survival of a total economic collapse. These are good things to have on hand anyway, for regular daily life as well as unforeseen emergencies.
8. Build community. Get to know your neighbors and build a community wherever you are. In the event of total economic collapse, life will become very local and survival will depend on working together with others, beginning with families.
9. Grow food. Grow some of your own food and raise animals for meat. Chickens and rabbits are small and easy to tend. Chickens provide eggs as well as meat and are excellent sources of protein and fat, both critical for survival. In economic downturns such as a recession or depression, being able to produce food is a important skill to have.
10. Barter. Learn how to barter, and stock items to trade. Think about necessities (wool blankets, soap, boots, duct tape, ammunition) as well as luxuries (chocolate, tobacco, alcohol). Useful tools will be more valuable than money if there is a currency collapse. Useful barter items will be helpful to have on hand as you prepare to survive an economic collapse.