- Grocery prices skyrocket 11.9% as high inflation hovers
- U.S. household debt increased by $1 trillion in 2021, the most since 2007
- Many Americans Raid Retirement Savings to Stay Afloat
Author: cityprepping-author
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If What They’re Telling Us Is True, You Better Store Food…
Major Food Supply Issues Coming “Pay attention to the hungry, both in this country and around the world. Pay attention to the poor. Pay attention to our responsibilities for world peace. We are our brother’s keeper” – George McGovern. We try to get as close to the source of information as possible. When it comes to getting accurate information, it’s already too late to act by the time it is in the mainstream media broadcast news, and the information is often distorted, understated, or exaggerated. Regarding our food supply, the people we should be listening to are the farmers, ranchers, and truckers. There are others, but these three sources are the “boots on the ground,” so to speak. What we are hearing from them doesn’t provide an encouraging outlook. We don’t want to scare you, but we would be remiss if we didn’t take a very sobering look at this very real food supply dilemma that’s currently playing out. The food supply we are accustomed to with multiple options at affordable prices is giving way to what is shaping up to be a long period of scarcity and global food insecurity. In this blog, we’re going to provide real feedback from the big 3’s point of view: farmers, ranchers, and the truckers and then look at some ways you can insulate yourself from the new norm of food insecurity that many face now and clearly is growing daily in scope and size. So let’s jump in… Download the Start Preparing Survival Guide To Help You Prepare For Any Disaster. We’ll post a link below or visit cityprepping.com/getstarted for a free guide to help you get started on your preparedness journey. FARMERS High fertilizer prices are forcing farm managers to rebalance cost-to-yield ratios for food production. Total synthetic fertilizer consumption has risen 800% since the 1960s, creating a system where single crops, monocultures, can produce an abundance. Fertilizer costs have risen steadily over the years but have been absorbed mainly in the cost-to-yield ratios. After Russia invaded Ukraine, however, food supply chains and the supply of affordable fertilizer were massively disrupted. Prices have sharply risen, and fertilizer now accounts for an unsustainably high 45% of a farm’s variable input costs. This results in a few basic strategies for the farm manager. He can decide to simply not grow food in some of his productive fields and grow cover crops instead to replenish the soil. Cover crops like grasses (such as ryegrass or barley), legumes (such as alfalfa or clover), brassicas (such as radishes or turnips), and non-legume broadleaves (such as spinach or flax) are great for restoring soil nutrient levels. Still, they don’t contribute significantly to our food supply. And, planting cover crops reduces the amount of land being farmed that season for human and animal food consumption. Another strategy, when faced with the soaring price of fertilizers, is to switch crops, but that’s not the easiest of tasks. A farmer’s crop is calculated and planned well before the first seed is dropped in the soil. Switching gears isn’t easily accomplished, and many farmers are reluctant to switch gears to a different crop for what could be a temporary shortage. The best example of this is the wheat deficit created by the Russo-Ukrainian War. America can’t just step up and fill the world’s wheat shortage. Spring and durum wheat, accounting for 25% of the US production of wheat, are typically planted as soon as soil conditions permit in mid-March through May and are harvested in the late summer or fall of the same year. Farmers had already plugged in all their calculations and likely obtained all the seed they would use and all the seed that was produced for replanting when Russia invaded at the end of February. Switching gear is no easy task at all. Fertilizers, herbicides, and insecticides have all risen in price, some more than four times last year’s costs. The result of higher input costs and drought means crop yields for both cotton and corn, two major US crops, are expected to be down more than 50% from last year. A drop of that much devastates the food supply chain, from exports that keep an economy strong to manufacturers who process those harvests into usable food for your grocery stores and, eventually, your table. In a nutshell, the global supply chain disruptions of the last two years, a twenty-year mega-drought in well over 50% of the country, the rising cost of fertilizer and fuel, and trying to balance the variable input costs to net any profits on the backend, are all sending spasms through our food supply chain. These are significant enough to potentially forever change our modern food supply. RANCHERS Long before your store runs out of your kid’s favorite breakfast cereal, ranchers will also experience lower yields. This means that flocks and herds will be downsized, the price of meat will rise, and its availability will drop. Milk and egg production, as well, will be reduced to align with input resources like feed and water. This is partly because of lower feed grain yields, but it’s also a logistics issue. During the pandemic, railways, already reportedly 25% understaffed, laid off a significant amount of their remaining labor force. Those laborers found other jobs and are reluctant to return to the long-hour, low-wage jobs that keep the trains moving. It’s significant enough that the Surface Transportation Board (STB) recently held a hearing about the issue. It is a significant enough problem that Foster Farms, the largest chicken producer in the western U.S., pleaded with federal regulators to issue an emergency service order that would direct Union Pacific to prioritize corn shipments that thousands of dairy cattle and millions of chickens and turkeys depend upon. It’s significant enough of an issue to prompt 51 members of Congress to write and sign a letter to the Surface Transportation Board, pleading with them to work with all stakeholders to resolve railway issues for fertilizer and feed grain specifically. They wrote: At a time when global fertilizer supplies and global crop production are highly disrupted, imposing shipping curtailments on fertilizer inputs and grain, as recently proposed by Union Pacific, will cause major supply chain disruptions, hurt American farmers, and exacerbate the food crisis considerably. We must ensure critical commodities reach essential industries and workers, such as America’s farmers, who are essential to feeding our nation and the world. Food is a national security issue, and we must treat it as such. Finally, if it isn’t feed grain for their herds, it’s water. Most western states are still in the grips of a devastating multi-decade drought and record-breaking heat. Drought and heat are a recipe for herd die-offs. Cattle can start experiencing heat stress at just 72 degrees Fahrenheit with 50% humidity. Compound that with a lack of water, it can lead to lower milk production, higher incidence of disease, and a higher death rate. The cost of watering animals has increased, and getting the proper water supply has become more complex. So, the production of feed grains is more costly with lower output, distribution challenges remain and are amplified, and a persistent drought leads to a reduction in flock and herd size and an escalation of prices. This all forecasts a hard road forward for the meat producers in the US. You can expect fewer selections, higher prices, and outright food scarcity. TRUCKERS 72% of America’s freight moves by truck, and last year the US suffered a deficit of 80,000 drivers. That high demand hasn’t equated to higher wages for truckers. In fact, drivers’ pay has been cut from an adjusted median of $110,000 in 1980 to just $47,130 in 2020. If you’re an independent trucker, you might be considering a different line of work simply because of fuel prices. A big rig will get around 6 miles per gallon and has a tank capacity of about 150 to 300 gallons. The cost to fill that tank today to travel those 900 to 1,800 miles is between $800 and $1,600. That dramatically cuts into any profits. Taken together, 72% of America’s freight, a large percentage of which is food, is experiencing a doubling in cost to get from point A to point B to your doorstep. Truckers are feeling the same fuel cost spike that farmers are. At the same time, they are experiencing a similar labor shortage that the railways are having. Truckers are willing to work, but the pay is not keeping pace. Many truckers are considered independent contractors and not employees of these trucking companies. Despite the difficulties in this underrecognized industry, trucking schools are projecting a 32% increase in students seeking their commercial Driver’s Licenses. That’s a good solution, but it will take time to plug it in and see any results on the other end. Big trucking companies are boasting record profits. They’re saying that they’re in the most profitable position that they have been in history in some cases, primarily because they can demand higher prices. Those profits, however, are not translating into improvements for truckers’ working conditions and wages. Those profits aren’t trickling down to consumers unless you are a major shareholder, nor are they improving the overall economic forecast. On the contrary, a deepening recession is increasing in likelihood by the day. Taken as a whole, the supply chain is spasming from the combination of railway and trucking logistical issues and a spike in costs. This makes it hard for farmers and ranchers to get what they need and to get what they produce to manufacturers and you. WHAT DOES THIS MEAN TO YOU, AND WHAT TO DO ABOUT IT We hate using the “perfect storm” analogy because it seems like we have used it so many times this decade. However, the perfect storm analogy fits so many scenarios as to what we see in these times. When we listen to the farmers, ranchers, railway workers, and truckers–all of those “boots on the ground” folk that put food on your table and a million other products to your doorstep– they’re all telling a tale of woe. When one of these critical systems temporarily experiences setbacks, say a crop fails, or truckers or meat packers strike, the disruption is often absorbed. When so many disruptions hemorrhage in these critical systems all at the same time, it’s possible that a new dynamic may emerge, or the system may never fully recover at all. It quite literally is a perfect storm here, converging now and for the foreseeable future. You should be bracing for higher prices. The cost of fuel, fertilizer, and labor will eventually be transferred to consumers. Beyond higher prices, which, honestly, ask anyone, is inevitable, this time we are looking at the genuine possibility of food shortages and scarcity. This will result in fewer exports, damaging the country’s economic health and increasing the odds of a recession morphing into a full-blown depression. This will result in famine in some regions of the world. This will result in people needing to adjust their expectations of food security and their diets. This will result in panic buying when news of this starts promulgating through the media, and this will further exacerbate the food supply problems as available inventories are depleted. We can probably all adjust to fewer choices in the chip aisle, but it is significantly harder to adapt to a scarcity of available corn or soybeans because the grain being grown must be routed to feed operations. I single out corn and soybeans here because beyond their use as a source of food, they are also major components in Ethanol production, and Ethanol makes up 98% of US gasoline. So, in a vicious cycle, food and fuel prices spiral up together. We should take heed when we listen to the warnings from truckers, railway workers, farmers, and ranchers, which are better sources than mainstream media outlets. The solutions you should be plugging in and the preps you should be prioritizing are to put away your 3-month or greater supply of foods. This goes beyond a 3-day or 3-week supply that can see you through typical disasters. Seek out and cultivate locally sourced food, even if that means changing the way and what you eat regularly. Buy in bulk and learn to preserve, dehydrate, or freeze-dry food. Plant something, anything, to supplement your food resources. Above all else, brace for this storm that is still in its early phases of forming but appears to be bigger than any storm we have faced in recent history. The luxury of affordable food in abundance may be coming to an end, and we preppers will need to adjust accordingly. At the very least, even if there are no significant disruptions in the food supply in your particular region of the country or the world, you will see the price of everything continue to rise as these higher costs continue to get passed along to you the consumer. The global food supply chain is struggling to find some sense of equilibrium. Just one significant natural disaster or a continuation of the record temperatures and droughts through this year and next could be enough to push the house of cards entirely over. If the boots on the ground are to be believed, and I believe them, the high yields from fertilizer and good weather through long growing seasons may be something we reflect back on as “the good ol’ days” of farming. With countries hoarding grain and a global supply chain that continues to try and find its footing, we aren’t precisely in opulent times. We may look at the periods in history earmarked with crop failures, dust bowls, and food scarcity to chart our course forward. If you want to ensure you have all your bases covered, work from a plan like the Prepper’s Roadmap we have available which we’ll post a link below. Time is of the essence. Secure your food and water supplies and free yourself somewhat from the ongoing turbulence that the food supply will continue to suffer from. As always, stay safe out there. -
DIY Solar Setup: A Simple DIY Beginner’s Guide
In this blog, we’ll do an introduction guide to building your own DIY Solar Setup. If you’re trying to understand and learn this for the first time, this blogis for you. We will not overburden you with technical terms but rather provide a high-level overview while still showing the step-by-step process of assembling everything that we believe anyone can perform. The advantage of learning how to build one of these is that you easily customize your setup, modify it in the future as your needs change, and, most importantly, develop an important skill set. So let us start off by giving you a quick overview to explain how this system works. There are four primary components. Solar panels collect energy from the sun and then pass the energy via cables to what’s called a charge controller. A charge controller regulates the energy from the solar panels that it then passes to the batteries where the energy is stored. In order to get the energy out of the battery, we need to convert it to useable electricity through a device called an inverter. This is the device we plug in the items we want to power, such as our phones, laptops, or refrigerator. As far as connecting all of these components, there are three primary sets of cables that you can purchase that already have the proper connectors on the ends and are set up to be used in this system.- Cables to connect the charge controller to the battery
- Cables to connect the battery to the inverter
- Cables to connect the solar panel to the charge controller
- Phillips screwdriver (large and small)
- Crescent wrench or socket wrenches
- Needle pliers will also come in handy
Step 1: Connecting the charge controller to the battery
Let’s grab our battery, charge controller, cables to connect our battery, and our small Phillip’s screwdriver. Please do this step before connecting the solar panels to the charge controller as it will damage the charge controller without first connecting to the battery. If you look at this charge controller, and this is common amongst most of these devices, you have six places to plug in cables. On this one, you’ll see:- Two holes with PV+ and PV- … PV simply means photovoltaic. This is where we’ll connect solar later.
- The next two holes are what we’re interested in at this step: BAT+ and BAT- … this is where we’ll connect the cables from the charge controller to the battery.
- The last two holes are LOAD which we won’t cover in this blog.
Step 2: Connecting the charge controller to a solar panel
For this step, we’ll grab our 100-watt solar panel (you can add more panels, but for simplicity’s sake, we’ll stick with one panel in this blog) and extension cables with MC4 connectors on one end and are stripped on the other end. For this step, you’ll need just the small Phillip’s screwdriver. During this process of connecting the cables, it’s important to observe the plus and minus signs on these cables that come off the solar panels when connecting to the charge controller. In order to go from the cables on the solar panels to your charge controller, you’ll need the extension cables with MC4 connectors on one end and are stripped on the other end. OK, we’ll keep the solar panel out of the sun, connect our extension cables to the cables coming off the solar panels that we’ll run to the charge controller. We have two black cables, that’s fine, just be careful to keep track of which is positive and negative. Even adding a small piece of tape on the end and writing a plus or minus might help a bit to keep things straight. Now, with the stripped end of the cables, We’ll start with the negative end and insert it into my charge controller. Give it a slight tug to ensure it doesn’t come out. Next, insert the positive cable into the PV+ connection and tighten it down. Remember, we have two holes on our charge controller marked PV- and PV+. Again, PV is short for photovoltaic power, which is the power coming from our solar panel. Now, let’s put our solar panel into the sun and see what happens. So now our solar panel is in the sun, and we’re now connected. As you can see on the front of the charge controller, we’re showing a charge coming in, and we’re now officially charging our battery. With this setup, I can view this information on my app as well, along with information on how charged the battery is. So we’re now harvesting power from the sun and storing it in the battery to be used later to power appliances and devices. Pretty cool, right? So up to this point in the video, we have now confirmed our solar panel, charge controller, and battery setup work. Now we’ll move forward to our final step of pulling power from the battery. This completes step two.Step 3: Connecting the battery to an inverter
Before we proceed to this next step, we need bring in the solar panel and disconnect it. When working with this system, we don’t want to interact with our setup when actively pulling power from the solar panels. To do this, we’ll simply disconnect the cables from the solar panels connected to the PV+ and PV- connections on the charge controller. We’ll also want to disconnect our charge controller from the battery. To do this, unscrew the positive bolt first on the battery and remove the positive charge controller cable. Next, unscrew the negative bolt on the battery and also remove the negative charge controller cable. Now that we’ve disconnected our solar panel and charge controller from the battery let’s connect our inverter to the battery. To do this, let’s first connect our cable to the inverter first, not the battery first. Connect the positive inverter cable to the positive inverter post and then connect the negative inverter cable to the negative post on the inverter. Now we’re ready to connect the inverter to the battery, but before we do this, it is recommended that we put a fuse on our positive inverter cable to protect the inverter. We have a 2000-watt inverter, so a 175 to 200 amp fuse works fine. We’ll post a link below to where we purchased mine. When connecting the fuse to the positive inverter cable, be sure that the fuse is flush with the lug. Make sure there’s no washer in between the inverter cable lug and the fuse. Now, bring the negative cable from the inverter and connect it to the battery. Then, using the bolt on the cable that connects the fuse to the cable, place it on the positive battery terminal. It will spark, but this is to be expected. Finger tighten these bolts down to allow us to test this out. We’ll tighten it much tighter momentarily when add the charge controller back on. We have completed the connection of the inverter to the battery. We can plugin devices and appliances and power them as shown here. Earlier, we disconnected the charge controller, but we’ll add it back now. We’re basically just repeating step 1 at this point. We’ll begin by removing the inverter from the positive terminal and negative terminal of the battery. Bring the negative cable from the charge controller and connect it to the negative post on the battery along with the lug connecting the negative cable to the inverter and tighten down the bolt with a wrench. Next, we’ll bring the positive cable from the charge controller and add it to the positive post on the battery along with the lug from the cable connecting to the inverter. Again, we’ll tigthen this down with a wrench. It’s important to note that when tightening the lugs on the cables to the batteries that there’s no washer in between the battery post and the lugs on the end of the cables. You want these lugs flush on the battery post. We do want the washers on top of the lugs, pushing them down to the battery post, though. Finally, we’ll connect the solar panel back to the charge controller. Connect the negative cable first, then the positive cable.Step 4: Testing our setup
Alright, it’s the moment of truth. We’ve got solar charging the battery, so let’s turn on the inverter and power some devices. Excellent, everything is operating as expected. We’ve got a pure sine wave coming off the inverter which means we can safely power our electronics and appliances. You can power most devices that you could normally power through a typical wall socket in your home, such as a T.V. or refrigerator. One important detail about discharging this battery. There’s a level of charge you don’t want to exceed when drawing power with the inverter. You can safely discharge down to 20% of the battery’s capacity under load with the inverter powering devices. If you go under 20% while you have a load on it, it can damage the battery. You can buy a battery monitor to add to the battery to keep track of that. For this battery, it does come with Bluetooth, and we can monitor that information in the app.Conclusion
Hopefully, this blog shows just how easy it is to build out a system like this. By building a DIY setup, you have options, and can modifications as you need them. If you have any questions, please post those below. Again, we’ll post links to all the items we covered in this blog. As always, stay safe out there! -
US Banking System Collapsing: What To Expect
It’s very important that inflation is brought into check by poor people losing their jobs. Not rich people losing their deposits. – Any_Perspective_577
Silvergate Capital announced that it would wind down operations and liquidate its bank. Signature and Silicon Valley Bank were seized by Federal Regulators, marking the second-largest bank failure since the Great Recession. The credit rating firm Moody’s Investor Services downgraded the entire U.S. banking sector and warned about the future need to downgrade six more American banks. Credit Suisse, the Swiss banking giant, acknowledges it has found “material weaknesses” in its financial reporting. Its largest investor has signaled it would not be rushing forward with an infusion of cash to support the banking giant. It’s time we faced the possibility that the banking system could completely collapse globally because these are not isolated failings. Banks are intrinsically tied to one another. They buy each other’s loans, invest in each other, hold accounts with each other, and partner in all aspects of our financial system, often co-holding loans for businesses and property worldwide. So, what would it look like if the banking system collapses? This is what you need to know now…
CAN IT BE CONTAINED?
The first effort by investors, bankers, financial institutions, federal reserves, and governments worldwide aims to contain the spread and calm the people. If people panic and start withdrawing their money to safely store it under their mattresses, that paper currency doesn’t exist. The dollar you might have deposited in one bank is leveraged or loaned to another, which then lent it to yet another, which then used it as collateral for more than one loan. It’s spread all over the place and takes on many forms far greater than the sum total of its value.
In the case of Silicon Valley Bank, the Fed rushed in to assure that all depositors would be “made whole”- a term to mean that depositors would receive all of their deposited money back. Investors in the bank’s stock were wiped out, as they took a knowing risk by buying the stock. Some of those investors are not just individuals. They are financial institutions that hold and manage portfolios of pension plans, 401ks, IRAs, mutual funds, and other retirement accounts. Anyone invested in an index fund may hold Silicon Valley Bank to a small degree. Top shareholders in Silicon Valley Bank include Vanguard (11%) and BlackRock (8%) in their various index funds and ETFs. Other money managers and pension funds with exposure include State Street Global Advisors, J.P. Morgan, and Invesco. Swedish pension fund Alecta held 4.45% of total outstanding shares or about $600 million at year-end. Many will check their balances in their retirement accounts in the coming weeks only to find out that their balances have considerably dropped.
Other banks and investment firms will fail, so can it be contained? At least some banks will profit to the tune of a $100 million or more, having banked on Silicon Valley Banks’ demise, but let’s assume for a moment that the spread of failures cannot be contained. What’s next?
HOW IT ALL FAILS
First, as we mentioned, people’s retirement accounts take a significant hit. The average 401(k) balance was $141,542 in 2021, up 10% from 2020. That’s not much to retire on, to begin with, and it’s even less when you factor in inflation and the rest of a person’s “golden years.” If a person just lives ten years beyond their retirement age of 65, they only have a little less than $1,200 a month to make ends meet. With a significant drop in their retirement portfolio, dreams of golden years and not commuting and grinding out work daily are put on hold. People have to work longer and hope economic conditions improve.
Unfortunately, bank failings of this level cause some companies to be unable to make payroll, invest in new projects to maintain growth acceleration, or force companies to abandon projects they have been working on to sustain growth and revenue. That means they often seek to downsize their labor force. Older workers are often the first to be let go because younger workers can be forced to work harder for less pay. However, younger workers are reluctant to enter a workforce where they know they will struggle even to keep their heads above water.
Any failing pension plans get transferred to The Pension Benefit Guaranty Corporation (PBGC), a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974. Those downsized workers enter unemployment status and collect unemployment insurance. Those holders of failed equities write off their losses on their corporate and individual taxes to offset their gains. All of it gets transferred to the balance sheets of the government, and still, not one profit-seeking, risk-taking banker ever spends a day in court or jail. All of these result in massive pressures on the government, which is actively involved in trying to contain inflation, spending to encourage economic growth, and loaning money to banks to promote their growth.
The pressure is enough to erode global confidence in the almighty dollar. Countries begin to seek transactions in other currencies or securities even as they struggle to limit their exposure to failing banks. After all, these bank failings are not a uniquely American problem, they have branches and roots in financial institutions worldwide, and several other countries are already reeling from these implosions. Value everywhere is evaporating. Before everything is said and done, several more banks will fail or shed significant chunks of their value. Some countries may suffer a recession or depression. Even if it doesn’t get that extreme, one thing is for sure; the global economy freezes up as people assess their losses and hold on to whatever resources they have left.
WHAT COULD BE NEXT?
With financial strains on countries so great, either the war in Ukraine loses support, because why would countries send money and resources there that are needed at home, or it escalates. A significant escalation puts countries in a wartime posture, and there is lots of money to be made and jobs to be had in the defense industry. Any cursory history study will reveal how previous World Wars spurned economic growth, innovation, and a post-war explosion of growth. In some ways, wars are a great big reset and reboot button for the victorious countries.
Most manufacturing, however, will likely slow to a crawl. With the dollar buying less, companies produce less. Even farmers are reluctant to gamble on the high price of seed or feed that they cannot cultivate into a profit later. They, too, will seek subsidies and assistance from the government even as they produce less food.
At home, even if you managed not to be a part of the ranks of the unemployed and you managed to not lose your shirt in your retirement portfolio or your bank didn’t fail and lock up or lose your life savings, you will still suffer the consequence. Your dollar will be worth less or worthless. Banks and financial institutions will pass on their losses to you through higher fees and tighter credit requirements. If you have any form of variable rate loan, that is a loan with a floating interest rate, expect that interest rate to go up. Even if you don’t have any personal exposure, the company or business you work for might. Their ability to transact or secure the resources and revenue they need to operate can cease to exist. That could force you out of a job.
In this climate of decline, you can expect inflation to soar to all-new heights. Your dollar buys less, and the cost of everything skyrockets. Suddenly, you can’t get the same amount of food at the grocery store, can’t afford the gas you need to commute, or the luxury expense of childcare while you work. You won’t be able to put those things on credit and hope for a better day, either, because banks will be tightening credit limits and raising the annual percentage rates in the hope of maintaining operations. You or your neighbor is left unable to afford basic necessities, pay rent or a mortgage, or sell assets because who is buying in this climate? The wave of repossessions and foreclosures follows.
The whole world transacts in the US dollar. When it fails, it is catastrophic for the world. Some governments will fail as citizens press their government for solutions or help. Some will restructure away from capitalist ideas. Everywhere, and all at once, production seizes up, and trade routes slow or stop. If your municipality depended upon parts like wires, transformers, pumps, and more from China to keep its water or power plants operational, those parts are no longer available. Failure to maintain these systems can result in them failing from lack of maintenance or pushed into failure from natural disasters or strain.
WHAT CAN YOU DO?
We know that this isn’t a pretty picture we paint here. We are trying to show you how bad this can get if it isn’t contained, and as bad as this all is, we still haven’t scratched the surface. The Great Depression, after all, had some pretty fundamental causes behind it, and that was at a time when global economies and banking systems weren’t nearly as intricately webbed together as they are now. That was at a time when people locally sourced their resources because these massive supply lines that bring you asparagus from Chile and aluminum from China didn’t exist.
First, you must accept that you won’t be able to buy your way out of this crisis, regardless of what you have saved or set aside. Liquidating your 401k to live off it for as long as possible will not work. You have to turn to locally sourcing what you need to survive. You need to learn to live on less with forced frugality. At some point, you may be responsible for your own food, water, and whatever energy you need. You may need to postpone treatment for any medical conditions that arise. You will need to become as independent and self-sufficient as possible.
For years people assumed that they would just transact in gold, silver, or platinum if the dollar ever failed, and for years we have been telling people how wrong that thinking really is. It assumes that other economies won’t be affected. It assumes you can somehow trade an ounce of metal for a loaf of bread. Both the dollar and precious metals only have perceived value. You won’t be able to live off either of them in a more significant collapse. What will be of real value are your skills, resources, knowledge, and self-sufficiency. You might be able to trade that one silver Morgan Dollar you have saved all this time for a basket of apples. In today’s money, you just traded about $100 for a basket of apples. You would have been far better off having planted an apple tree that would have provided you with multiple baskets of apples now.
To be clear, we are not going on record predicting a global collapse and the death of the US Dollar, but we are also not ruling out some challenging times ahead of us. Either governments and financial institutions will be able to contain these losses, or they won’t. When facing that reality, you can either sit on the sidelines with a wait-and-see mentality and be a victim of whatever fate befalls you, or you can begin to proactively take control of your life through prepping. You will be better positioned to survive the fallout if they don’t contain it. If they contain it, you will be more solid and better positioned because of your prepping activities.
We are not financial experts and don’t give financial advice, but we don’t have to be to see how badly this could swiftly turn. One of the ways you can insulate yourself is by educating yourself on this channel. The free Recession-Proof Guide you can download, and we’ll put a link to it below, can set you on a path to reduce expenses, become more frugal, and understand what you really need to survive. The free blogs on this site can also equip you with what you need to know to survive a catastrophic economic decline. The Great Depression playlist, for instance, has a dozen videos on everything from what you’ll need to books you should have to how to barter after the economy collapses. Please check out the playlist linked below.
Let’s hope for the best but prepare for the worst. Don’t assume it’s gone for good if this crisis is contained and averted. We have seen these types of situations occur again and again. They come back every few years or decades, and each new occurrence is worse than the one before. It’s not a matter of if it will occur. It is a matter of when. So, please take my advice and commit to your current efforts to prep or begin prepping now while there still is time.
As always, stay safe out there.
LINK
Surviving a Depression Playlist: https://www.youtube.com/playlist?list=PL5TAN1zJMd0fISN5QZ3azITREGcnYwsph
Download the Recession Proof Guide: https://cityprepping.tv/3PJwGM0 – start your preparedness journey: https://cityprepping.tv/3lbc0P9