April 25, 2017

Money and the future of the American Economy

I’ve said before that I’m a novice when it comes to economics, but even a novice can see that our economy is and has been in trouble. So what do we do? I don’t mean “we” as a country, I mean “we” as Prepper’s, what do we do?

I don’t claim to have all the answer’s but here are some things that I think are a good idea.

 

Get out of Debt

Kill it, throw every extra cent you have at it, make it go away as fast as possible. It is stealing from your future. If you’re in debt and serious about getting out of it, there are many different methods of doing so. One I have found, that is actually offered as a ministry at my church is Crown Financial Ministries. They take a Biblical approach, giving to God what is His, showing you how to be good stewards with the rest.

 

Precious Metals

If you’re new to precious metals, I wrote a two part series called Primer for Precious Metals (Part One and Part Two. I really think people should be investing in precious metals. I think silver has much more of an up-side right now. So far, I have stuck to one ounce silver eagles, but am really looking at “junk” pre-1965 coins. Just be sure to stick to under $500 so it’s not reportable to the IRS. As the dollar continues to slide, I think people will turn to gold and silver for barter. In fact, while at a gun show last weekend, I noticed a booth selling AR-15’s and accessories with a sign that said they would take gold as payment.

Invest in Lead, Specifically Copper Jacketed Lead
I think prices are going to rise and availability is going to be more scarce than it was after the President was elected, especially if he gets re-elected.

 

Buy Second Hand

Make use of garage sales, Craig’s List or FreeCycle, The Salvation Army or any other place that sells used goods. Do a search for “barter networks” and you’ll find all kinds of ways to barter and trade your goods or services for others.

 

Prepare Now

I don’t think we’ll see an economic collapse that happens overnight where the banks are just closed. I think we’re already in the midst of a slow decline. Our dollar still holds value and will continue to, only less and less as time goes on. If you have any purchases that you have been putting off, I say “if you can afford it, now might be the time to get it, without going into debt”.

 

Shop Farmers Markets

If you have a farmer’s market near you, it’s a great way to get fresh produce as well as enough to preserve for future use. Some of these people might be willing to barter labor for food.

 

Closing Thoughts

The pain is coming and it’s unavoidable. The only questions are “when?” and “how much?”. The good thing about all of the items I mention, is that whether it’s six months or six years, you’re taking steps to increase your financial preparedness.

 

Comments

  1. Elizabeth says:

    The Total Money Makeover is Dave Ramsey’s program for debt elimination, and it works! Buy a box of ammo every shopping trip. The pain is inevitable, the amount depends on each of us.

    • Chris Ray says:

      Thank you for mentioning Dave Ramsey, I have heard of his program, but have no experience with it, so didn’t mention it.

  2. We used the Dave Ramsey Method to get out of debt Chris.. He has a gift from GOD to help folks.. I also don’t go for stocking up on Gold and Precious metals. You can’t eat them. When the Mark comes you can trade or sell them.. Better to Stock your food pantry and also some Barter Items.. I don’t plan on being here once the Tribulation is in full bore. Either I will be dead or in prison for my faith. PS please everyone don’t preach the false teaching of the rapture to me. My LORD never mentioned that and the Bible Goes into Great detail about us going through the Tribulation in Matthew 24.. Read it.

  3. read you can not eat them..

  4. err.. My fingers are naughty today I hit send before I proof read.. You will NOT be able to buy, sell or trade in the open market without the mark

    • Jim Moore says:

      True that Bruce! We just don’t know how bad it’s going to get before the “Mark” comes along and offers it’s salvation in the form of food and security. I imagine I’ll be imprisoned or gone too being that I already have plans for a post collapse Church for my local community. So be it!
      It’s interesting to see the senior citizens doing commercials for chip implantation’s in the name of having all the medical records readily available. Plus, more enforcement of mandatory implantation of former inmates and sex offenders. Good ideas, or signs of the times?
      It’s a wonderful and exciting time we are living in.

  5. Jim Moore says:

    Dave Ramsey is great. No matter where you are at he seems to have a program or way to get out of the debt you have. Good sound principles.

    The copper jacketed lead got me for a minute. Got to get it while you can.
    I do purchase pre-1964 junk silver. I usually shop ebay, very carefully, for deals on half pound lots. I always check them thoroughly when I get them and clean them with antibacterial spray before I store them. Keep in mind, you can’t eat silver. It may only be good after a period of time when someone starts commerce again after the collapse. Who knows how long that will take. While it is illegal to melt U.S. coins now, silver will only be worth “melt value” in the future. That value will be determined by the market or commerce at the time, but it’s still worth having and collecting now.

  6. Chris Ray says:

    True that you cannot eat them (precious metals), but looking at the recent collapse of the economies of other countries shows that precious metals are used for barter. I agree it should be the last prep you have, food, water filtration, defense should go first.

  7. Amen about getting and staying out of debt. Its one of the first things, imho, to get squared away. :)

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