5 Ways You Can Prepare For The Incoming Global Economic Crises
Do one of these things to secure a better financial future.
Inflation can be felt in many parts of the world today, as the cost of gas, cars, food, rent, and services continues to soar.
These skyrocketing numbers are clear telltale signs of an impending global economic recession. One, worse than what America experienced before in the 1980s.
But this time, the effects of this economic disaster will be felt on a global level, as the dollar has become one of the world’s most circulated currencies.
For years, concerned economists cautioned the US Federal Reserve (A private company) against senselessly printing out cash on behalf of the US Government into the US economy.
Now the time has come for the people all around the world to pay for the terrible decisions made by their government and bankers.
What is Inflation?
Inflation is said to occur when the general costs of goods and services continue to rise because the value of the currency is depreciating.
For example, a loaf of bread increases from $1 to $2 because the value of the dollar has dropped, so now, you need to $2 to buy that same loaf of bread.
What Has Caused This Inflation We’re Currently Experiencing?
The inflation we’re currently experiencing now has been caused by the US Government in conjunction with the Federal Reserve/Banks printing more money into circulation, and in the process, depreciating the value of the US dollar currency.
The video below is an excellent simple explanation of how the economy works. I highly recommend it. Understanding how the economy works, helps you know how best to plan, and grow your assets.
Here’re Some Recommended Ways To Prepare For Inflation:
Buy Gold
Gold is a precious metal that has maintained its value throughout time.
Gold was valuable in Ancient Egypt and Ancient Greece, as it still is today.
The value of gold withstands the test of time. Its intrinsic value never declines.
In the past, Gold was used as currency all around the world.
In the United States, the US dollar was originally pegged to Gold. This means, the US dollar was a paper designated to represent real money, which was gold.
In 1971, President Nixon took America off the gold standard. He severed the connection between Gold and US Dollars.
This was the beginning of the end of the long-term prosperity of the US economy. As this allowed the US Fed and Banks to be able to freely print money, leading to increased inflation.
Investing in Gold is a great store of the economic value of your energy.
For example, if you store all the money, you have in dollars, and the value of the dollar continues to depreciate. You continue to lose the purchasing power of your dollar.
$1000 today will be worthless, but $1000 worth of gold can appreciate in the future.
Watch this video to understand the difference between currency and money.
Buy Silver
Silver is a highly undervalued precious metal.
It is also a great store of the economic value of your energy.
Silver is a way more affordable way to store the value of your currency as it is cheaper than gold, and many estimate its value will rise in the coming years, as many economies lose their foot holding to inflation, as is slowly happening now around the world.
As of today, an ounce of silver costs $21.97.
Whereas, an ounce of gold costs $1,861.70 USD
And no, you’re not mandated to buy in ounces as you can purchase smaller units in grams.
Buy Crypto
What is Cryptocurrency?
A digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority. — Google
Cryptocurrencies don’t need centralized authorities such as the US Federal Reserve or Banks.
As the value of fiat currencies such as the dollar continues to decline, many people are poised to shift to more valuable currencies outside the centralized control of governments.
As more and more people confront the reality of the dollar steadily losing its value, more people are shifting to hedging their dollars in alternative digital currencies.
Caution: The Crypto-markets are very volatile. And if the stock markets crash, it most likely will crash alongside it, as well. Although some say, it might have a more speedy recovery.
Educate yourself thoroughly before entering the Crypto Market.
Buy Fertile Land
Land is one of the best assets you can acquire for yourself, your family and future generations.
I’d invest in land today if I had a wad of cash just sitting.
Having land allows you to build and escape the rent system, and also allows you to grow your own food, rear animals, and feed your family.
In my opinion, owning land is one of the greatest assets, as it can be passed down from generation to generation while maintaining its intrinsic value.
Learn To Grow Your Own Food
Learning how to grow your own food will help cut down your external food costs.
Think about it — some of our most basic needs include food, water and shelter.
Learning how to, and growing your own food could save you thousands of dollars a month when food costs soar.
Imagine growing your own organic vegetables, instead of, buying expensive produce from wholefoods.
I think learning how to grow food is a vital skill everyone needs to have.
Store Non-Perishable Food Items
Buying and storing nonperishable food items is a good way to spend less money and also prepare oneself, in the event of food shortages.
You can store nonperishable food items like —
- Flour
- Rice
- Canned Tomatoes
- Sugar
- Canned Vegetables
Food shortages are coming, according to the news, the US government and articles floating around with headlines like —
‘We’re in a crisis’: Farmers sound alarm overcoming food shortage
The food crisis is what happens when global chains collapse. We might need to get used to it
These are all recent stories that come up when you google food shortages.
There’s no need to panic.
Knowledge is power, so it’s best to prepare yourself, as best as possible.
There’s always some form of opportunity in chaos if we can think clearly.
All the best to you.
Disclaimer: I’m not a financial advisor. I’m simply sharing what I’m learning.
Please feel free to share your thoughts, comments, and add-ons in the comment section. I’d love to read them.
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