How to Position for the Coming Collapse
Signs of economic retraction are appearing across the markets. The Dow Jones Industrial Average experienced significant declines amid heavy selling. The yield on the United States 10-year treasury dipped below the 2-year treasury, an event not observed since the 2008 recession in what is called inversion. Finally, gold continues to see large increases, gaining between 20-40% against all major currencies. How can the everyday man and woman position? We have three suggestions.
Priority #1: Eliminate consumer debt.
Consumer debt is the credit cards, the personal loans, and the apparel cards. Any debt instrument that is not producing wealth for you needs to go. These lines of credit eat your capital more than anything imaginable. Deliberate and rapid reductions in debt are essential to avoid the squeeze of a recession. The highest interest lines of credit should be eliminated first.
Priority #2: Beef up cash savings.
After debt is cleared, individuals should increase cash holdings to save at least six months of living expenses. Should an economic retraction happen, the cash savings will be necessary for living expenses. Be ready to move to more favorable horizons.
Priority #3: Buy one hundred ounces of silver.
A minimum amount of precious metals is necessary in the event of a dollar crunch. As the dollar loses its value, the price of silver goes up, preserving purchasing power against real goods. One hundred ounces of silver will allow for smaller trades.
As you tackle priority #3, consider getting freebies like our Quarterly Silver Giveaway. Entering automatically rolls you over into the following contest. Who can afford to turn down real money anyway?