Preparing for Economic Collapse

Chris Martenson ^ | May 13, 2011 | Fernando Aguirre

[bkopto]

“How can I prepare for an economic collapse?” is one of the most common questions I get. It usually takes me a second to start to explain how complex such a question is. It’s like asking an auto mechanic, “Say, how do you build a car?” or asking a computer engineer, “What’s all that stuff inside my laptop?”

I do have some first-hand experience in this matter, though. The economy in my country, Argentina, has gone through various crises, but none as large as when the economy collapsed in 2001 after a decade of apparent prosperity. The currency devaluated, and Argentina defaulted on its USD$132 billion debt, the largest default ever. The middle class took to the streets after bank accounts were frozen, and the president was forced to resign, escaping the presidential building in a helicopter.

What I’ll do is, provide five quick foundational steps, based on what I know, for you to follow so as to be better prepared if something like what happened in my country ever happens in yours.

Step #1: Secure a percentage of your savings in bullion.

(SNIP)

Step #2: Stock up on food

(SNIP)

Step #3: Acquire the essentials by putting together a survival/emergency kit.

(SNIP)

Step #4: Improve your personal and home security.

(SNIP)

Step #5: Embrace a different mindset.

[bkopto]

Excellent review article for preparing for the eventual collapse of the Keynesian welfare state.

See also the invaluable Grandpappy: How to Survive Hard Times

[exnavy]

Starts right off on the wrong foot. The only precious metal worth anything in an economic collapse are brass, lead and copper, mixed with the proper amount of gun powder, it’ll keep the golden horde at bay.

[papertyger]

You watch too many movies.

[ransomnote]

BFL

[Future Useless Eater]

...from section 4:

The liberal government that took control after the collapse considers criminals to be poor victims of brutal capitalism. The unofficial stance is that criminals have a right to steal, murder and rape - in their view, it’s how the “poor” get back at the rich and middle class who thrived during the 90’s.

[2ndDivisionVet]

What Good Can a Handgun Do Against An Army?
http://www.freerepublic.com/focus/f-backroom/2312894/posts

[Fee]

If you envision mad max scenario, your list makes sense. But the US dollar is not going to collapse and trigger hyperinflation like Zimbawe, Serbia and Argentina, because it is still the world reserve currency. About 70 percent of transactions in the world is still done in US dollars. One cannot drop it and replace it immediately. The Euro is unstable, Yen is moribund and the Chinese Yuan is not set up to be an international currency. Any alternative based on a basket of currencies and/or precious metals need up to 10 years to implement after one studies it and gets most of the major nations to agree. In other words the dollar is going to be around for a while, but at the rate the US deficits and borrowing is increasing the dollar will trend lower and lower in buying power. This is the likely scenario and the list Martenson made IMHO is valid.
I think one must still prepare for the worst scenario just in case a Black Swan event occurs and collapses the entire world currency system. Guns, gold and a getaway plan.

[pieceofthepuzzle]

The ticking bomb in the US is the class envy cultivated by liberal politicians and liberal activists. It’s the centerpiece of communist-socialist theory, and it has insidiously become a big part of our culture.

It can only be confronted effectively by a strong overt and continuous repudiation, including hanging the failed history of communism-socialism, including the deaths of >100,000,000 under regimes like Stalin’s and Mao’s, around the necks of those who still push this ideology.

[vanilla swirl]

“I think one must still prepare for the worst scenario just in case a Black Swan event occurs and collapses the entire world currency system. Guns, gold and a getaway plan.”

That Black Swan eventually shows up if you wait long enough =/

[conservatism_IS_compassion]

I think one must still prepare for the worst scenario just in case a Black Swan event occurs and collapses the entire world currency system. Guns, gold and a getaway plan.

Get away . . . to where?

What about the kids/grandchildren?

[mylife]

No. He is right.

You dont have **** if you can’t protect it.

[ResponseAbility]

Was the Dollar the reserve currency in 1929? If there is a plan in place by a group of people that have the means and the will to cause a collapse of the Dollar, they would do so in my opinion to set up a world wide government. If so there will only be the same warnings as was had in 1929.

[MontaniSemperLiberi]

While I agree with your attitude, I don’t think I can predict exactly how it will end. We are about three to six years away from a Japanese style halt and who can say what happens after that? I can’t because it will be a whole new world and any thinking I’ve developed will be a poor predictor.

[FreedomPoster]

Ferfal ping.

[DTogo]

You watch too many movies.

No, a precious metals portfolio of copper/lead/brass, and the tools to utilize them, should absolutely be priority #1.

If the LA riots, post-Katrina looting, and the all-too-common fast food beat-downs can happen without an economic collapse, think of what can happen when the S does HTF.

[phockthis]

sfl

[DCBryan1]

My wife wants me to write a preppers book. Something between Boy Scouting and living in a cave with primitive survial skills watching the end of the world.

When I look at Ferfal, I think along those lines, but he doesn't really have the American perspective. He has some really good points and lacking in other areas. When I read Rawles, I see someone on the other extreme. I don't envision UN troops, "Jericho" type national balkanism, etc. When some survival/prepper noob ask me for advice, I steer them to Ferfal first.

I guess she wants me to write something akin to the "Goldilocks prep guide"...not hot, not cold.

I like watching survivor and dual survivor, but it is a little too PC and impish like Cody Lundin's Emergency, back-to-nature extreme wilderness survival. Read Lundin's books and he seems to advocate going barefoot and not buying/training/caching any types of weapons that are ABSOLUTELY necessary for survival in North America.

On the other hand Wesley-Rawles and Joel Skousen's end of the world, bluehelmet/black helicoptor "Lucifer Hammer" type of doomsday leaves MUCH to be desired by "the sheeple". Luckily, Rawles started one of the leading websites of shared information www.survivalblog.com. Sousken's "Secure Home" is the definitive HIPS book. Kudos to them for that!

I guess I'd write something like Seinfeld's Festivus:

Survivalness for the Restofus! ;)

Caveat: I need to read our very own Brackens, Matthew-type books and the Foxfire series first. Had a baby in late 2010 so my plate is full right now.

I am just glad that I have gotten my new wife to read Patriots, Lucifer's Hammer, Earth Abides, Alas Babylon, One Second After, Unintended Consequences, et. al. We are going for our General Tech. ham radio license in June, and started brewing beer, beekeeping, tailoring, and woodworking recently as skillsets.

OH, and please add jenbean and myself to the ferfal ping list!

Thanks!

[Oshkalaboomboom]

Thanks for the info

[papertyger]

And what do you expect your life to look like six weeks after the crash?

Ferfal has been there and done that: have you and exnavy?

Sure the first seventy two hours will be pretty hazardous, but after the riots subside, and they will, engaging in firefights will only get you put down by those trying to restore some semblence of order.

Focusing on firepower is the number one mistake of the pseudo-prepper.

[Free Vulcan]

My motto is: Learn to Live Amish.

With guns.