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In the era of financial and societal insecurity, I have taken it upon myself to best prepare for the unknown. Will inflation wipe out my savings? Will the price of common goods become unaffordable? Will the effects of Critical Race Theory implode on our shared cultural and societal underpinnings? These are critical questions with serious repercussions if and when the answers come to fruition via the affirmative.
In the event there is a massive fallout, whether from inflationary pressures or a collapse of civic coexistence among the alleged classes of the oppressed and oppressors, it is better to be over-prepared than under-prepared. I would prefer I never discharge my firearm, and despite the bland taste, I would much rather dine on soon-to-be-expired cans of beans out of parsimony than out of necessity. However, if catastrophic changes sweep through the country and those items are vital for either short-term or long-term survival, then it is literally the difference between life or death.
Below is a partial list of four ways I have begun preparing to protect myself and my family against economic hardship.
Any visit to the gas station, grocery story, or home improvement aisles has revealed a startling fine line between financial security and financial ruin. Whether produced through poor environmental policy (Keystone pipeline), poor security policy (Colonial hacking), or poor financial policy (Federal Reserve printing), inflationary and currency-devaluing realities are here to stay. Whereas your paycheck is stagnant, the cost to heat or cool your more-expensive-than-ever home and feed your family is on the rise. Does this make you feel good about your checking and savings? The money under the proverbial mattress becomes more worthless with each passing day.
There is too much uncertainty in the world of fiat currency, endless currency printing and market manipulation. The U.S. dollar cannot always maintain its global reserve status, or even maintain its current purchasing power. As both a store of value and investment, gold, silver, and other precious metals have stood the test of time.
Birch Gold offers consumers a variety of ways to invest in metals. There is an option to have physical metals sent to your home, an option to have them securely hold onto your physical metals, and even an option to invest in a precious metals IRA. Every portfolio should be diverse enough with gold and silver; now, more than ever, it almost seems like a basic requirement.
Investing in gold and silver is a way to hedge against long-term financial instability, but what about the short term? In the chaos of pandemic-related shutdowns, many Americans experienced rushes on grocery stores and food insecurities for the first time in their lives. It is still surreal to remember the empty shelves and freezers of every grocery store. The question has evolved from “Could it happen here?” to “When will it happen again?”
Like many Americans, 2020 has reshaped my philosophy of preparedness and protection. Besides counting myself among the five million first-time gun owners in 2020, I now count myself among the well-stocked with food and water. In addition to my well and bottled water, I now have emergency rations that are designed to help my family weather any food shortage or crisis.
My Patriot Supply provides a line of products designed to meet your needs. Ranging from individually-wrapped MREs to a year’s worth of emergency food supplies, there is nothing this team hasn’t considered. In addition to the diverse offerings of food items and kits, My Patriot Supply also sells equipment related to survival gear, first aid, water purification, air purification, and seeds. Heck, even if it isn’t an emergency, these are great products to take on your next camping trip!
Generally speaking, I think most Americans are a good and decent group of people. That being said, we are also a spoiled bunch. Through merely being blessed to be born and live here, we have become accustomed to modern conveniences and luxuries well beyond our worth. Prior to the latter half of the 20th century, the world’s population, including the American population, was largely self-sufficient. Small farms and local communities enabled families to live humble but fulfilling lives. Yes, the scalable production of goods and advances in technology have been a positive in many aspects of life, but it comes at the cost of preparedness for troubles down the road.
To that end, I have invested both time, resources, and energy into learning about alternatives to contemporary consumption habits. John Seymour should be a household name for anyone serious about providing for themselves if shipping routes, production capabilities, or other reasons prevent grocery stores from churning out food items. In his book, The Self-Sufficient Life and How to Live It, Seymour covers topics like gardening and food storage to obtaining existential meaning through hard work and service to self and families. Even if you don’t plan on quitting the 9-5 grind and tilling the earth, Seymour makes us all think of our greater purpose.
I am throwing this last one on here because, well, why not. Had I invested in any random cryptocurrency at this time last year, my returns would have beaten any other vehicle of investment by multiple factors. Bitcoin and Ethereum are perhaps the most well known of the bunch. Notwithstanding the recent slides, Bitcoin was trading at under $10,000 this time last May; it is now above $40,000. Likewise with Ethereum – it was trading above $200 this time last May and now trades for just under $3,000. Many others were trading for pennies last year and have grown exponentially.
The market is volatile, no doubt, but is there any certainty with the sustainability of the U.S. dollar? Just for the record, I invest just a small portion of my portfolio in this arena.
There are many options to buy, sell, and convert cryptocurrencies. Each market has its advantages and drawbacks. For me, Coinbase offers a straightforward approach to navigating the confusing world of cryptocurrency and crypto exchanges. It offers most major currencies and is constantly adding new coins. Most importantly, it has a userface that can make sense to almost anyone. With a click of a few buttons, you are on their way to hedging against fiat currency collapse and manipulation.
If nothing else, and no matter how big or small the stakes, it can be exciting to discuss this emerging market with friends. It’s certainly a nice change of pace from discussing politics.