A Financial Collapse Some Time ‘Between August And November Why is everyone trying to predict the next financial collapse? People lost a lot in 2008 and stand to lose more. There are people who took a financial hit that changed their whole way of life. Some had to go back to work and others just …
15 Terrifying Truths About Long-Term Disasters One of the reasons many people don’t bother preparing for disasters is because they don’t understand how bad it could get. They assume that if something terrible happens, the government will come along and give them whatever they need: food, water, medical attention, etc. What they don’t realize is …
12 Warning Signs That The Collapse Is Near There’s one particular type of disaster that almost every prepper is preparing for: economic collapse. Ever since the stock market crash of 2008, the economy has become more fragile than ever. But the problem with economic collapse is there’s no way to know if or when it …
Yesterday, September 26, 2011, a stock market trader named Alessio Rastani shocked the world (and literally left his interviewer speechless) when he made multiple unexpected statements during an interview with the BBC. Here’s the 3-minute video clip:
I listened to the interview multiple times and transcribed the most relevant things Rastani shared:
“The stock market is going to crash, and it’s going to fall pretty hard. […] They know the market is toast. They know the stock market is finished.”
“If I see an opportunity to make money, I go with that. […] Personally, I’ve been dreaming of this moment for three years. […] I go to bed every night, I dream of another recession. I dream of another moment like this.”
“This economic crisis is like a cancer. If you just wait and wait thinking this is going to go away, just like a cancer it’s going to grow and it’s going to be too late. What I would say to everybody is get prepared. This is not a time right now for wishful thinking that government is going to sort things out.
“The governments don’t rule the world. Goldman Sachs rules the world. Goldman Sachs doesn’t care about this rescue package, neither does [sic] the big funds.”
“The first thing people should do is protect their assets. Protect what they have. Because in less than 12 months my prediction is the savings of millions of people is going to vanish. And this is just the beginning. I would say, be prepared and act now. The biggest risk people can take right now is not acting.”
I feel Rastani’s warnings are especially timely. I expect we will see major financial events in October — perhaps greater in scope and impact than what we saw during the fall of 2008.
How prepared are you? Are you able to sufficiently protect your assets — the things you have in your possession?
I recently bought a fireproof and waterproof safe to protect important documents and investments. I got my safe at a Staples in the town I live in. It gives me peace of mind knowing that some of my assets are now protected from fires, floods, and thieves.
Still on my personal to-do list:
Buy a handgun.
Take gun training.
A good friend of mine has multiple guns and has gone through some local courses on gun safety and firing. All summer long, he’s been encouraging me to do the same.
Honestly, I’ve always been torn on the gun issue. Not that I oppose gun ownership. Quite the contrary. I believe the U.S. would be a much safer place if more “ordinary” citizens had guns and knew how to use them.
Yet I’ve still floundered over the decision. I have three young kids at home and don’t want to put them in danger. On the flip side, what’s the point of owning a gun if your gun is locked up in one case and your ammo is stored elsewhere? You’d never be able to get the gun loaded in time to fend off an intruder.
But ever since I discovered the Drag ‘n’ Draw Gun Safe, I’ve felt better about having a gun in my house. It allows me to keep the loaded handgun safe, secure, and out of the hands of my kids — yet instantly available should I need to use the gun for defense.
So I plan to get a gun this fall and take the local gun training my friend has been encouraging me to take.
I also intend to investigate other self-defense and personal protection items like pepper spray, wasp spray, and door wedge alarms.
Two other things I’ve done recently to help protect our assets:
Bought a fire extinguisher at Target and put it in the hall closet on the main floor. This is one of those things you can easily put off until it’s too late. A recent fire in our oven while my wife was cooking reminded me that a fire extinguisher is an inexpensive — yet exceedingly important — safety device to have in the house.
Began investing in silver every week. I believe silver’s recent price drop is temporary and that silver will increase in value past $50 an ounce. Silver and gold are hedges against inflation and will protect you as the dollar and Euro collapse.
The bottom line: There’s never been a better time to take inventory of what you have… and… figure out how to protect it.
Silver has been on my mind quite a bit lately, especially with the big drop in price this week. Silver dropped to $31.09/oz this week and gold dropped to $1,656.10/oz.
The last time silver was this low was mid-February of this year, more than 7 months ago. I see the lower price as the perfect buying opportunity.
Since I have an account with Silver Saver, it’s easy to make impromptu purchases when the price of silver drops. For example, I put in an order for an extra $100 of silver on Thursday evening (9/22/2011), which was then executed on Friday (9/23/2011). I plan to make additional one-off purchases in the coming weeks.
As you may know, I’ve written about the importance of investing in silver (also known as poor man’s gold) a few times over the last couple of months. This is because I feel you’d be hard-pressed to find a better way to invest your money.
Gold and silver will be especially important if and when hyperinflation kicks in. As fiat currencies like the dollar and the Euro collapse, the price of gold and silver will rise.
More importantly, the gold and silver markets have been heavily manipulated to keep prices artificially low. This is finally coming to light. When the manipulation is fully exposed — and stopped — that’s when the price of gold and silver will explode. As Stephen Jones noted on September 16, 2011:
JPMorgan has been manipulating the price of silver downward ever since it took over Bear Stearns in 2008. Bear Stearns had been the silver price manipulator up to then. […] When Bear Stearns went bankrupt, their job as Silver Manipulator-in-Chief was passed down to JPMorgan.
Now they are getting in trouble, and their exposure could soon put a stop to their manipulations. When that happens, the price of silver will go through the roof, as people recognize its true value.
Although I have purchased physical silver in the past, I’ve personally chosen to set up an account at Silver Saver. This allows me to buy silver and gold in small amounts. You can set up an automatic purchase once a week or once a month. This is the equivalent of “dollar cost averaging” for precious metals.
Plus, you can also make one-time purchases when the price drops. I have placed additional orders twice now to take advantage of temporary drops in price.
If you are setting up your account for the first time, it takes a couple business days to validate your bank account. They’ll debit two small amounts, less than a dollar each, which you will then have to input on the Silver Saver site.
Once you’ve done this, you’ll be able to set up a weekly or monthly investment. I’ve chosen to invest weekly because I feel it will produce an overall lower cost basis.
Once your account is set up, you can make one-time purchases whenever you want, and you can convert back and forth from cash to silver and vice versa whenever you want.
While I feel it’s important to have some physical metal in your possession, I also feel there are advantages to having physical holdings that are not in your direct possession.
For example, if you were forced to flee your home, it would be quite difficult to carry a lot of precious metals with you. And if all your silver and gold is in your home, in your car, or on your person, then you are more vulnerable to theft.
On the other hand, if some of your silver and gold is stored in a secure facility elsewhere, then you are more mobile and less vulnerable to theft. This — combined with the ability to make small impromptu purchases — is what makes Silver Saver attractive to me.
Here is a partial view of the Silver Saver Account Dashboard. It is similar to what you’ll see once you start investing (click to enlarge):
If you’d like to create a Silver Saver account and take advantage of the low(er) silver and gold prices, please sign up here.
According to a Texas dairy farm, the price of feed and hay has gone up dramatically in recent months. In some cases, the prices have doubled.
As a result of these price increases, they are now being forced to raise the price of the milk they sell to $6 a quart or $10 per half-gallon.
Here is the letter they sent to their customers:
Keep in mind, this is a smaller dairy farm that also provides goat milk, so their prices are higher than commercial dairy farms. But still — this is a clear sign that we may be on the verge of hyperinflation in the U.S.
Well as you can see, the tides are starting to turn… It’s not the price increase of the milk I find concerning, it’s the doubling in price of their animal feed in less than a year. […] I predict that the US will ultimately end up in a hyperinflationary depression within the next 12-24 months.
As extreme as this may sound, all evidence is pointing in that direction…
Prices are increasing at an alarming rate…
Gold and silver are hitting new record highs daily…
The US credit rating was officially downgraded for the first time in history…
The stock markets are on the cusp of falling off the cliff, and into new lows that will surpass the crash of 2008…
I basically agree with Mike. I think we’ll see the stock markets crash as we enter the fall season. I think we’ll see other credit rating agencies follow the S&P by downgrading the U.S. credit rating. I think we’ll see gold and silver continue to rise in price.
And while I sincerely hope it does not happen, it seems that hyperinflation in some form or other is unavoidable.
Of course, my belief is we’ll see inflation of food prices and commodities… but deflation of other items like houses and cars. So it will be a mixed economic period of both inflation and deflation at the same time.
Again, this is merely my personal belief, and I could be wrong. So take it for what it’s worth.
In the mean time, I’ll continue investing in precious metals like silver and gold… and… storing food in case of a collapse of the food system.