There are many survival situations a prepper should consider and anticipate. Sure, most by now know the basics of surviving in the wilderness by hunting, finding shelter and so on. But have you thought about surviving financially in case another economic meltdown occurs? What will happen to money? How will you trade to get certain essential goods only specialty craftspeople can make, like clothing and weapons?
The Survivor’s Guide to an Economic Meltdown
The financial crisis of 2008 was only a mild taste of what could happen when the stock markets fail. The recession was contained, even though it wrecked havoc on many lives. Most us were not alive back then, but the people in the 1930s experienced a real economic calamity. Pretty much everyone was laid off, millionaires were committing suicide and scores of people in the cities literally starved.
It’s not impossible that another situation like the Great Depression could happen again. The markets are notoriously unpredictable, so nothing is impossible. Rather than wondering if another economic downturn would happen, smart preppers get ready for the situation for when it occurs.
When Money Loses Value
We trade and barter today with paper money, which has no intrinsic value except what’s ascribed to it by economists. When the markets fail, this paper money essentially loses value. Inflation is common during economic depressions, which makes the value of paper money rapidly disappear. So, there’s little point is hoarding cash in the bedroom, as it will have little to no value in case of a financial calamity.
The currency that would really matter during an economic crisis is gold. Precious metals like gold and silver are valued inversely proportional to the dollar. It means that when the value of the dollar goes down, the price of gold and silver goes up. Unlike paper money, precious metals have intrinsic value. One can use the metals to barter, or can use it for a practical purpose like forging tools.
Bartering with Precious Metals
Gold and silver are the most common forms of barter metal. Gold is particularly valuable and can be used for bartering when the economy is doing quite well. Not all gold, however, is considered barter gold. Gold coins are the most common forms used for trading. Bars can technically be used to barter, but it’s not easy to lug around bags of gold bars now, is it?
Barter metals can be exchanged for goods and services. The times will decide how much a gold coin or a bar is worth. You can try right now to learn how to barter with gold. First, you will have to buy gold from a reputable dealer like Lear Capital. Then, you can barter with professional traders, credit unions and local farmers. Gold can get you stockpiles of food, weapons or a specialty service.
Buy Gold Now and Be Prepared
You will have to buy gold now in order to be well prepared for a future financial calamity. First, there are a few things preppers should know about buying precious metals for prepping. You need to buy physical gold in the forms of coins, bullion or bars, not gold stock. When it comes to bartering with gold coins, only some types are accepted. Unfortunately, collectible coins and antiques are not suited for bartering. You will have to invest in minted gold coins approved by the IRS. You can buy directly from a dealer and securely store the gold. You can also add gold to your IRA.
Invest in barter metals today do be well prepared when the unthinkable happens. Don’t be caught off-guard by a possible future financial calamity.