Practical advice on surviving a meltdown
A contribution by Thomas Greco:
“Mike Adams provides some pretty good advice on his website, NaturalNews.com. Take a look at his comprehensive special report, How to Build Your Financial Safety Net.
The thing that’s missing in Adams’ report is how to protect a nest egg. How do you protect the value of the assets you have? Here are my thoughts on that.
As prices bottom out, use your money to buy selected real estate and useful things of real value.
Get out of dollar denominated securities – bank deposits, CD’s, bonds, etc. Keep only enough liquid to satisfy demands for payment of taxes, utilities, etc.
What are the alternatives?
Buy anything that can support you and your family directly – a home, productive land, gardens, orchards, woodlots, durable clothing, equipment, knowledge, skills, books, computers, etc. Buy selected foreign currencies. Above all, make friends, nurture your communities and form new ones. As my good friend Sergio Lub says, our best security is not in money or gold or material things, but in our relationships and our willingness to help each other. The effectiveness of actions by isolated individuals is severely limited. It will take organized cooperative action to really protect ourselves and get through this transition stage. Organize mutual support networks, including local credit clearing unions and currencies. My upcoming book will provide detailed advice on how to do that, but many of the ideas are already available at my blog Beyond Money and website.
October 29th, 2008 at 8:11 pm
Excellent thinking. Contra all the financial advice from gurus like Suze Ormond, the single best category of investments you can make is anything that increases your secure access to food, heat, and shelter, and reduces your need for outside income to supply them.
People without debt, who own their living space free and clear, and who have a large garden and a well-stocked pantry, will ride this out.