But does that mean you should buy silver and gold as many say to do? Should you fill jars with cash and bury them in your yard? Should you dip into your retirement fund to buy preps?
Financial expert Mike Gasior discussed these and other issues with me on DestinySurvival Radio. Mike is the founder and President of AFS Seminars LLC.
His company is the premier provider of financial training to the institutional investor community. He boiled that down this way for me. He has spent his whole adult life teaching investments and finances in various companies to people who didn’t think they needed to care. As a result, he prepares them to do their jobs better.
He’s worked in his field over 30 years and has a handle on the big picture in the world of finances. He knows things are tough now, but he’s not into doomsday scenarios.
Mike straddles two worlds because, while he deals constantly with big money issues, he has a homestead in New England and believes in being prepared for whatever comes.
In the aftermath of Hurricane Irene in 2011, he went without electricity for nine days. But he was ready with generators and his stock of supplies. Internet and phone service was out 13 days. In spite of that, he says he almost enjoyed it.
Mike believes prepping should simply be the common sense things we do as part of our way of life. His no nonsense approach made a lot of sense to me.
Here’s a summary of some key points.
- In a preparedness situation, cash is king.
- Stock up on food, water and other needed survival supplies.
- Be ready to barter if necessary.
- Protect what you have.
Don’t let yourself get overwhelmed if you don’t have all the preps you believe you should have. Start small and keep adding to your sstock of supplies.
Don’t be rattled by the jumpy stock market, what’s going on in Greece, or whatever else the news media sensationalizes. Take care of yourself first. After all, isn’t that what prepping is about?
After our conversation aired, one of my readers asked a great question which I wish I’d have asked Mike. She wanted to know what happens to credit card debt when things collapse. I can’t say how he would have answered, since he was reluctant to consider so-called doomsday scenarios.
But my own thought is this. Don’t rack up debt in the hope it will be wiped out one day by collapse. It’s tempting, but as we saw with the Y2K non-event, things don’t always work the way you might think. Many got burned thinking they’d owe nothing on January 1, 2000. Meanwhile today the banksters have sharp teeth until everything comes down.
Take a hint from Brandon Smith’s Alt-Market.com site and begin bartering now. Wean your way out of the dependence on the present unfriendly money system.
If you think your preparedness strategy should include silver, Mike recommended Coinflation.com. That’s where you can find the melt value of coins and compare to see if you’re being asked to pay too much for coins.
To hear more of Mike Gasior’s perspective on gold, silver and more, listen to DestinySurvival Radio for September 29, 2011.