Posted on 03/10/2021 4:30:33 AM PST by MeneMeneTekelUpharsin
That’s the ticket heh.
Know your local plants and trees and what can be used for what.
Mobility.
Other like minded people with different skill sets.
I’m in your camp. Usable items that are in your physical possession. As was discovered during hurricane Sandy. A guy had a gold coin that was priced at $2k but when he went to spend it, it was only worth the face value and not the gold weight value. If the power or internet goes down, all online accounts, stocks, bitcoin, paper ownership of precious metals is completely useless.
I have to smile at this. I was at our cabin in northern VT having electric work done by a couple of locals. Once they realized that my family had been in the area for a century they were comfortable talking about people with their SHTF places. They were coming from far away, and would never reach there in time. By the time they got there every deer within 50 miles would be hanging in some local guy’s garage. They said the NY’ers better like perch and squirrels. Because that was all that would be left.
You got it: land.
I don’t think most of us will make it real far if things go the way they are trying unless it’s not the time of revelation yet. I’ll not go quietly though.
You make good points though, have what you need now, which is hard for some in this economy.
LOL! Exactly right! All those stocks and bonds should do nicely.
TIPS. Treasury Inflation Protected Securities. Guaranteed inflation adjusted return from the same folks who print your money.
Yep
A fixed rate mortgage
20 to 30 years
Don’t have debt.
Pay off your home.
Pay off your car.
Have car in perfect order, new tires, etc
A bit of gas stored is nice if you have a safe place to store it.
Junk silver and some Silver Eagles...junk is
great for barter.
Put away some 22LR and 9MM ammo for use and trade.
Tools to raise a simple garden.
Seeds
Stored food.
Water and water purification items.
A few solar panels, LED lights, a way to charge phones..etc
A bike maybe...
Medicines you may need...
Toilet paper and paper towels
Feminine hygiene stuff...good for barter also.
Radios, ham gear, CB, 2 meter handies..etc
If it was just going to be inflation and economic hardships
that’s one thing but if the EBT cards ever go dead it will soon become apocalyptic in some locations.
So much game and beef in Northern Alberta and water that we could feed everyone. The issue would be the enemy agents trying to force their will on us. In the case in a higher populated area, it’s best to have a good supply of dry goods and be ready to move at less than a moment’s notice.
If you want (like I did) to avoid the high commissions of the TV Gold and Silver dealers, you can always buy a Gold Trust like GLD or IAU.
Both are ETFs that track the price of gold and are backed by physical gold bullion on deposit at major Wall Street Banks. IAU, for instance, is backed by a big pile of gold on deposit at JP Morgan Chase. Shares of the ETF are shares of that large pile. Can you get your hands on the physical gold? Nope..but the ETF shares ‘should’ still be valuable if gold skyrockets. One pretty credible Wall Street analyst (David Hunter) is forecasting Gold to $2,500 (from ~$1,700 now) this year and $10K by end of decade. Is he right? Who knows..as Bogle said “Nobody Knows Nuttin”..but it’s a good inflation hedge, IMHO.
That said, IAU (and presumably GLD) have been tracking the exact opposite of the 10-year T-Bill yield. Weird. That to me says the market volatility isn’t due to “fears of inflation” but something else - possible market top with the smart money getting out, etc..
Other options are International stocks, foreign currencies and commodities. Just look at the run commodities has had already this year including oil, lumber and others..(whew..really glad I decided not to build that new house..lumber is going crazy after already having gone vertical over the past 2 years or so).
I’ll take the perch. Hard to clean but much tastier than squirrel.
Personally I think before any hyper inflation takes place we will have Deflation....
I can only speak about what’s happening in Northern Florida, but real estate is booming, especially high end real estate, 500k to over 1 million dollar properties are selling fast....
A large percentage of people right now owning homes have never experienced high inflation and soaring interest rates with an overall collapse of the economy....
Think back to Jimmy Carter and the 1st two years of Reagan.....We nearly had double digit unemployment and interest rates...
My first mortgage was 11.15% and was lucky to get that, a 30-year loan now are under 4%....
The Real Estate market would plummet if mortgage rates went back over 10% which could easily happen...
What would happen to the overall economy if that happened ??
Not to mention the auto industry, no more interest free auto loans...
IMO, cash will be king when this happens, my strategy is hard assets, land will be my area to look at, especially in Florida as people continue fleeing Communist States..
Especially rural land as cities continue to fail...
“Yep
A fixed rate mortgage
20 to 30 years”
***********************************
Preferably in a state/locality that won’t tax away your inflated wealth.
My take is hyperinflation means collapsed economy which leads to a collapsed society. Venezuela comes to mind as a recent example.
Folks talk gold and silver but what can you buy? Nothing. A gallon of gas, a box of ammo even alcohol will get you more.
At this point it’s a barter system so what you need is what people want.
Something that has the attributes of money is valuable because it has those attributes. Would-be barterers can use money to overcome the otherwise insuperable problem of discovering a Coincidence of wants.
Trade requires money. Let's examine this vital function of money with respect to the coincidence of wants:
My Chicken farm example:
You run a chicken farm, and you need to buy a great many things to keep your farm and family going.
In a given month you need - for instance - to buy chicken feed, to hire someone to repair your generator, to buy a nailgun to allow you to mend chicken barn #9, to hire a midwife to help give birth to your widowed daughter’s baby, to buy milk and bacon - and so on.
Some of these resources will be buyable with chickens or eggs.
And some of them will not - there's no coincidence of wants if the midwife or the nailgun owner don't want chicken meat or eggs. Because they can't replace their expendables with meat or eggs.
But all or most of these resources will be buyable with money - with Gold or Silver. Because offering money in a transaction vastly improves the chance of a coincidence of wants
My Chicken farm example - continued:
You’ve had a successful month at the farm, and you now have loads of chicken meat and/or eggs to sell.
100 people line up to buy what you’ve got.
* 50 of them have horribly devalued fiat money, food-stamps and a bad attitude
* 40 of them have plans for barter - some of which are better than others. One is willing to work on your farm for food: another is willing to sell you their body, another has a stack of AA duracell batteries, another has some miniature bottles of scotch - and so on, with dozens of variations. You have to gauge each transaction on its own merits - an exhausting process - and half of the barter offers are simply going to be unworkable.
* 10 of them have Gold and/or Silver.
Which customers will you prefer selling your produce to? They all want what you've got - but do you want what they've got? Again: real money vastly increases the chance of a coincidence of wants.
Only Gold and Silver fulfill all of the prerequisites of money. This gives them inherent value - useful (for instance) in a survival situation.
Of course Fiat currency can also be used to run a chicken farm. However in time all Fiat currencies - without exception - revert to their true value of zero. When our current Fiat currency is no longer trusted then only precious metals will act as money.
Hope this was helpful.
ammo/survival provisions/skills
Except stocks in gold, like AUY......& gold mining companies, silver also.....
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