| Lynx said: I think the best thing to keep in mind during all of this economic uncertainty is that the world economy will all crash eventually. The amount of debt that the US and other countries carry are not sustainably. All we are doing is delaying the certainty of economic destruction. The question you have to ask yourself is what can you do to help youself. 1) Pay off as much of your debt as you can. Any debt you have when the economy goes south will be exponentionally more difficult to pay off. 2) Keep some cash on hand. In an economic breakdown liquidity is king. It would also be a good idea to have some money in gold, silver, or other precious metals since they are the only real intrinsically valuable money. In summary, realize that the world's approach to money will fail eventually. All you can do is put yourself in the best poaition that you can. |
When the entire economy collapses and people are resorting to barter, because money is worthless, what the heck is gold and silver going to get you? Yes, get out of debt, but I think far more important is to possess skills people have use for and need, so you can get basic food and water and clothing and shelter. Gold and silver and precisions metals are good when you have a stable economy, and want to hedge against inflation. But, in a total meltdown, exactly what is it worth? People would only want it, if others want it.
