The USA national debt is getting very close to 100% Problems in Greece are not solved, and still causing trouble. The debt crisis is creeping into Italy. France may have their debt downgraded. Spain is undergoing a change of leadership this week and will finally have to confront their debit situation.
For any survivalist or prepper, an economic melt down is a full-on realistic possibility. Currency devaluations, global depressions, and societal collapse are real things with real possibilities. Aside from major weather events or earthquake, a financial collapse is a highly possible SHTF or TEOTWAWKI.
You must get your family ready!!!
Here are some important prep items for a possible financial collapse:
1# Get out of debt and avoid debt — Carrying debt during good times is a recipe for personal disaster during bad times. Aside from a 1st mortgage on your home, you should not be carrying any types of debt. When the financial collapse occurs, you may loss everything due to carrying debt.
2# Build strong relationships with spouse, children, extended family, and close friends — More than ever, you will need to rely on your network of support.
3# Have a water filter, stored water, and long-term food pantry — Immediately after the collapse occurs, there will be interruptions to the food supply chain. Rather than join the mob in looting the grocery store, stay home and guard your homestead. Rather than waiting 4 hours in a government soup kitchen line for hand-out food, cook and eat the food of your preference.
4# Have several months of your prescription medicines. And try to avoid prescription medicines, if your health can adjust to natural remedities. Do not delay needed surgery, dental care, or other health procedures. Have a lot of over-the-counter medicines and first aid supplies at your homestead to avoid dangerous trips to overwhelmed hospitals.
5# Be prepared to defend your family — Crime will become widespread after TEOTWAWKI. You must be prepared to defend yourself, your family, your homestead, and your neighborhood. Get your conceiled carry permit for weapons. Take a defensive weapons classes. Have your spouse obtain their CCW permit and weapons class. If your children are over 10 years old, teach them to use a .22 LR rifle and perhaps a .22 LR pistol. Teach all the children in your family on what is a firearm and firearm safety. Start a neighborhood watch and encourage your reliable neighbors to arm themselves.
6# Diversify your investments. — In a financial collapse, the stock market will be wiped out. As a general rule, you might want to keep 5% to 10% of your investments in precious metals – gold and silver. A substantial amount of your gold and silver holdings should be in physical form – coins or bars. You might want to decrease your holdings in equities and bonds in favor of cash.
7# Be prepared to home school your children. – It might become too risky to send your children off to school. When the collapse occurs, might be best to home school your children. Or form a home schooling unit in your close neighborhood.
8# Be constantly aware of the news — When the collapse occurs, it will come suddenly and without warning. Watch multiple news sources so that you are ready to act. If the collapse is likely soon, run to the grocery store and pharmacy ahead of the masses of people.
9# Be prepared to gather your family at the retreat or primary homestead. — Have a plan for your family to gather quickly in case of an economic collapse. Go get grandpa and grandma from their retirement home. Have your survival group ready to gather.
10#Be prepare to live without electricity. Can you heat your home in the winter without electricity? Vandals, storms, and economic losses will soon accumulate a lot of damage to the power grid, which may not be repaired for months or years. If you are unable to heat your home in the winter, you will quickly become a refugee.
11#Sell your toys, junk, and collectibles now. If you cannot eat it, shoot it, or exchange it for goods and services, then cast off the stuff in your home which might have value now, but no value after TEOTWAWKI. Perhaps your baseball card collection is worth $300? Well, $300 will buy you a nice shotgun and 250 shells for home defense. You have a doll collection, or multiple televisions, or game systems, or extra fancy sports car. How will these items feed your family? Your jet ski, bass boat, or Harley will become useless pieces of junk after TEOTWAWKI. Sell the toys. Buy food, guns, ammo, and gold coins.
12#Start a home business — In addition to your primary employment, start one or two home based businesses. If you are a teacher, perhaps you start a tutoring service. Perhaps you can repair equipment? Or you can be a gunsmith? Or teach gardening techniques? There are 100′s of possibilities. If you have a valuable primary skill that will be useful after TEOTWAWKI, then you will have a great advantage.
13#Become even more frugal — Spend money only on essentials. Delay the vacation until next year when the economy hopefully settles down. Learn to live with less. Plow every bit of the savings into paying down debt and accumulating supplies. With all the money you save, buy long-term stored food, ammo, medical supplies, garden seeds, gold and silver coins, water filter, fire wood, etc.
I hope it never happens. A financial collapse will result in untold suffering and possibly millions in deaths.
Wish you all peace and prosperity !!!(source)
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With the US raising their debt ceiling, are we in a global bail-out bubble that will eventually burst? This doc offers a fresh insight into the greatest economic crisis of our age: the one still awaiting us.
The financial storm that has rocked the world began brewing in the US when congress pushed the idea of home ownership for all, propping up those who couldn’t make the down payments. When it all went wrong the government promised the biggest financial stimulus packages in history and gargantuan bailouts. But what crazed logic is that: propping up debt with more debt? “They’re giving alcohol to a drunk: it just sets him up for a bigger hangover.”
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