Economic collapse in Greece, Cyprus, Argentina, Zimbabwe, Germany, and everywhere else rulers have stolen value until their currencies turn to dust, always impacts old folks extremely. Younger, stronger, more energetic people can recover by entering into the barter and exchange markets that are as old as human culture.
Working hard at the basic subsistence level can get people by if there is anything at all left in the natural environment to subsist upon. But old folks have a hard time competing in the manual labor department. Traditionally, they survive on accumulated wealth; on the soil, buildings, and infrastructure their family built up during their productive years, or over generations.
In modern culture, that has evolved primarily into paper assets. What does a retiree depend on for survival and living comfortably? How solid and broad-based is that foundation?
Social Security – Federal Reserve dollars – (Federal Reserve economy)
retirement income – stocks, bonds, mutual funds – (Federal Reserve economy)
investments – stocks, bonds, mutual funds – (Federal Reserve economy)
insurance coverage – stocks, bonds, mutual funds – (Federal Reserve economy)
… (medical, dental, health, home, auto, life)
I have written and published more than a little on the federal reserve with over 150 posts at Idaho LIberty.com since 2007. According to the Austrian Economic school, federal reserve, fiat currencies and their relatives ALWAYS CRASH. Serious analysts tell us this one is going down soon.
“Maybe not”, you say. Oh good. You are happy to bet EVERYTHING on your personal feeling of MAYBE NOT?
Russian government, Chinese government, Indian people, Chinese people, J.P.Morgan, Chase …
over the last year have made massive purchases of physical gold and silver.
Silver and gold have been stable repositories of wealth for thousands of years. They will be for another thousand years. Of course if you don’t have substantial savings in food and barter goods, start there, but waste no time.
The largest investors in the world are betting AGAINST the Federal Reserve economy. And in the case of the major banks and investment firms like Morgan, they are betting AGAINST the very places they are putting their customers’ funds!
Do as I say, Not as I do.
Is that really a good idea? With EVERYTHING you have in reserves? With your entire well being?
Oh, but there are penalties for early withdrawal.
Compared to losing it all in a crash?
Losing 1% or 5% compared to losing 100%
No. In fact there are HUGE penalties for late withdrawal.
Early is good. Getting out of the car before the crash is far better than closing your eyes, covering your ears, fastening your seat belt and trusting the suicidal psychopath driving the car.