Practical Preparation for the Dollar Collapse
A dollar collapse scenario is as real as it can get for some people. The reason behind this belief can be attributed to a few reasons such as the U.S. government’s overall debt and a liability including expenses beyond what is being earned, a huge amount of reserves owned by foreign nations, threats on national security including expenses related to preserve it, among many others.
One other reason which is not often considered is the fact that all fiat currencies in general are unstable. Production and circulation of these are only due to legal bounds. Without any law imposing their usage, these are reduced to no more than pieces of paper.
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Prepare for the Dollar's Collapse through Precious Metals
Investing in precious metals such as gold and silver are recommended by a lot of economists. The rates of exchange associated with these items remain constant, if not increase. If there are any losses, these are often minimal and are not significant. This is in contrast to other items for trade that are easily affected by inflation or deflation.
Prepare for the Dollar's Collapse - Stocks, Bonds, and Funds
Stocks, bonds, and funds are also alternative investments in case of a financial meltdown. In relation to this, it is best to capitalize in companies and products which are stable. As an example, medical related products such as those from pharmaceutical giant Pfizer are great for trade options.
Capitalizing in mutual funds for gold mining companies is also recommended. Other gold related stocks and bonds even have actual reserves attached to them. Properties of real physical gold such as bars and coins or bullion may become handy in surviving economic crisis. The only setback is the issue of converting these into actual spendable form when the need arises.
Prepare for the Dollar's Collapse - Commodities and Real Estate
Other forms on investments which are useful to prepare for the future include commodities and real estate. On commodities, agricultural and industrial items are great to invest upon. These are always in demand due to their numerous uses on a daily basis. Agricultural items are necessary for food and food products. Industrial commodities on the other hand are applied to electronic devices we use everyday too.
In the same manner, real estate is a palpable form of investment. This can be said most especially for properties which are used for residential and business structures. Although these are not needed always, the income generated when they are actually sold can cover expenses for months or even years.
Prepare for the Dollar's Collapse through Barter
Barter, a form of trade which had been practiced since ancient history can also be done to lessen the effects of a financial crisis. You can trade items you own to someone else who does not have it in exchange for items the other party possesses which you do not have in turn. It is as practical as it can get but is obviously not very popular in the present world.
Prepare for the Dollar's Collapse by Gardening at Home
A more practical method is related to farming. Everything we own can be reduced to nothing when compared to food as a necessity. This doesn’t necessarily mean engaging in large scale farming. A small space in the backyard can be converted into a mini-farm of plants and animals. Here, farm animals often purchased in the meat section such as chickens and pigs can be raised.
If these are not possible, there are always other options. Indoor gardening and farming are getting popular these days. You can always utilize pots that don’t take up much space. They can be stored inside the house such as the garage during night and can be brought out during the day for sunlight. A hydroponics floating garden may also be built. For some people, it is only a hobby. But planting vegetables, fruits, and everything else edible through these may serve as food for the dinner table.
Practical Preparation for the Dollar's Collapse
Stretching your income by allotting a budget for all expenses, cutting expenditures on unnecessary items, spending only what is due your lifestyle and earnings, and saving money in a bank account are additional practical means to prepare for a possible fall of the dollar as well as other economic and financial problems in the future. In relation to cutting down costs, you can also save money in utilities and transportation allowance. Minimize consumption of electricity and water in order to lower bills. If possible, utilize public transportation to save on gas.
Preparing for the future doesn’t have to be as dramatic as fearfully anticipating the dollar’s collapse. To prepare for the future through investments and practical methods mentioned here are beneficial whether or not a dollar collapse scenario occurs.