Poor Man Survival
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A Digest of Urban
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How to live through economic meltdown and
hyperinflation
Financially, it seems as if the end is near. Economic Armageddon
is upon us, as the Federal government lubricates the moving parts on the
printing presses and new money begins to fly out.
In his special report, Shadow
Government Statistics: Analysis Behind and Beyond Government Economic Reporting,
John Williams wrote,
The U.S. economy is in an intensifying inflationary recession that
eventually will evolve into a hyperinflationary great depression.
Hyperinflation could be experienced as early as 2010, if not before, and likely
no more than a decade down the road. The U.S. government and Federal Reserve
already have committed the system to this course through the easy politics of a
bottomless pocketbook, the servicing of big-money special interests, and gross
mismanagement.
It is now a decade down the road, and this was written before the
U.S. Congress passed and President Barack Obama and subsequently Donald Trump
and now Joe Biden signed their multi-trillion-dollar economic stimulus bills
into effect.
The amount of money being spent is unprecedented in human history.
So what will the enormous spending program do? It will push simple
inflation (a continuing rise in prices due to an increased volume of money and
credit relative to available goods and services) into hyperinflation.
That's because fiat money implies by its definition that it
self-destructs through depreciation (inflation). Anything that can be created
to infinity with political incentive eventually becomes worthless. There are no
exceptions. For paper money to work, its issue must be equal to the production
of goods and services.
Does anyone think that is the case today? Dream on, if you do.
There is plenty of historical precedent for prolificacy of money
creation bringing hyperinflationary chaos which then collapses into depression.
The stark reality is that the public has no clue until a collapse arrives and
completely destroys their assets and their lives.
A currency collapse is progressing every day with each new dollar
that is printed. Now is the time to realize it, rather than later when chaos
reigns and everyone is trying to survive at the same time.
We can't have wide open money printing and have a viable and
strong currency at the same time. Again I would say dream on if you think so.
So, what are our predictions? Long-dated Treasurys will show huge
losses when interest rates begin to rise. In time, Treasury securities will
reach "junk status," and in the long term all U.S. debt will become
junk. This outcome is near.
You may ask, "But Bob, why would the Federal government leave
us vulnerable to such a dreadful occurrence as a spiraling crescendo of
hyperinflation?"
Does greed, corruption and general cluelessness sound like a good
enough reason?
Even at this time, Treasurys pay less than the rate of official
inflation, never mind the unofficial inflation numbers. Millions of retired
people are now experiencing a lower standard of living.
The same is true with certificates of deposit, which pay an
interest rate less than the rate of inflation. In other words, if you have your
money stashed in what you believe is a safe return CD, you are losing money
every day.
Though most are oblivious, U.S. dollar savers are being routed.
Savings accounts are paying interest rates less than the devaluation of the
dollar. This U.S. dollar crash syndrome is an autoimmune disease where people
(the rich and the poor) are impoverished because they were thrifty and saved.
But saving your money by putting it under the mattress is no good
either. As the value of the dollar shrinks so does the value of your savings.
With depreciating currency comes rising prices. Depreciating
currency brings a lower standard of living and equally a permanent loss of
asset values. Look to Venezuela as a current example. And Zimbabwe before that.
In December 2008, inflation was over a trillion percent and the economy had
been "dollarized," signifying that local currency was virtually
unacceptable as legal tender. But Zimbabwe is not the only modern example of an
economy ruined by government overspending. In fact, there are many other
examples:
- Turkey,
2007 —
Turkey has suffered from chronic inflation for decades. In 1980, one U.S.
dollar was worth 90 Turkish lira. By 2004, a U.S. dollar was worth 1.3
million Turkish lira. As a result, in 2007 the government simply declared
a revaluation of the Turkish lira. One million Turkish lira would, from
then on, be worth only 1 lira.
- Romania,
2005 —
In 1998, the highest denomination in Romania was 100,000 lei. By 2005 the
highest had become 1 million lei. The Romanian government then devalued
its currency, declaring that one new leu would be worth 10,000 lei.
- Argentina,
2001 —
Overspending by the Argentine government resulted in massive inflation in
the 1980s and '90s. By 1992, one new peso was worth 100 billion pre-1983
pesos. (Because the old peso had been devalued so much, if Argentines had
stuffed their pesos under the mattress in 1982 they would have ended up
with nothing.)
- Russia,
1994 —
Following the collapse of the Soviet Union, the new Russia saw annual
inflation as high as 2,500 percent in 1992. By 1994 it had dropped to 850
percent because of a tightening of monetary policy and the failure to pay
wages to workers in state enterprises, a policy that kept prices low by
depressing demand. The value of the ruble declined from 40 rubles to the
dollar in 1991 to 30,000 rubles to the dollar by 1999.
If the annual cost of living increases just 5 percent or 6
percent, the purchasing power of money will rapidly vanish. And because of negative
real interest rates, consumer price inflation will accelerate, a fact not known
by the public. The real spending power of households whose income depends on
fixed interest instruments will be cut, reducing their standard of living.
For example, in 1933 the Consumer Price Index (the price of a
basket of common goods purchased by the average consumer) was 12.8. In 2008 the
CPI was 225. In other words, that same basket of goods has increased from just
under $13 to $225. Currently, it's 271, and that's without goods and services
that actually price inflate — because they have been taken out of the CPI. Who
knows what it would actually be, comparatively speaking.
But it would be high, as anyone who has gone to the grocery store
or to buy gas has figured out. Once again, inflation is starting to outpace
economic predictions.
As prices rise and the lower classes find it increasingly more
difficult to buy necessities, O'Bidenomics will increase taxes on the producers
and savers even more, hoping to spread the wealth around. As the spending kicks
in, the formerly profligate-spending conservatives will claim to have had an
epiphany. They will kick and scream at the thought of running up more debt than
they already have caused. But that's a farce.
We are still trying to understand America in terms of capitalism
and free enterprise, when in fact America is now a socialist country with a
pretty face called democracy.
All fiat systems in history have been in socialist states, no
matter the national pretense, as in our term, democracy. Socialist states have
a history of suppressing their own people. And all socialist fiat money
states/countries transfer wealth and production to the state without payment.
Of course, as in America today, this transfer takes place via the depreciation
of paper money. The owner of the money printing press owns and controls all
wealth and production.
How to prepare
You don't have
to just sit by and do nothing. There are simple, easy, inexpensive steps you
can take right now to protect your family.
I've prepared a 21st-century survival guide called the Ultimate Hyperinflation Defense
Manual that I believe can help you prepare for the worst
financial threats America now faces.
This manual is chock-full of proven strategies, techniques and
information that can make all the difference during the financial emergency
that is inflation, or hyperinflation. In fact, my newly-updated and
revised Ultimate
Hyperinflation Defense Manual can make your life better
even if, God willing, we sidestep some of the economic catastrophes that I fear
are coming.
That's because the steps you take now to prepare for some of these
possible disasters will end up making you financially stronger... more
independent... and more self-reliant than you are now.
You won't find this privately printed dossier in stores. I've
developed it exclusively for my extended family of readers, and I've packed it
with practical, real-world strategies for coping with a financial catastrophe.
Let me give you some examples:
- In
addition to physical gold and silver, look to invest in companies that
mine the metals. Stock in these companies, as well as those that are
involved in the extreme push for green energy, which will have an effect
on demand for old-fashioned fossil fuel-reliant systems and processes —
especially chip makers — are good bets.
- Consider
buying stocks in foreign countries. However, remember that while China is
still growing, it is cracking down relentlessly on different sectors, and
those stocks are losing 25-50 percent of their value in a day and may
never recover. India is still a growing economy in an otherwise dismal
global market.
- If you
are getting into foreign stocks, be sure you find a broker that
specializes in foreign stocks. There are a few in the U.S. When you think
you've found one make sure it's not one that trades through domestic
market makers through so-called Pink Sheets, which can cost you money.
- There
are some blue-chip stocks that are great hedge plays against inflation.
These are large companies, foreign-owned, that pay dividends and produce
products that are not only popular with Americans, but around the world.
- If you
do decide to invest in the stock market, be sure you take delivery of your
stock certificates. Don't leave them in the hands of the brokerage house.
- Although
most investment advisors recommend government bonds as a conservative
investment and inflation hedge, we have slightly different advice, as well
as a different outlook on the keys to investing and the preservation of
wealth during hyperinflationary times.
One of the most important lessons to take away from former
financial crises is that you need to do careful planning for your own survival
during the tough financial times that are ahead. We are facing an imminent era
of hyperinflation and these steps and more, in addition to everything you need
to know about buying and safely storing gold and silver, are included in my
special report The Ultimate
Hyperinflation Defense Manual.
For years now, we've been reporting on health, investment and
personal survival strategies the government hopes you'll never hear about. It's
a point of view that is fiercely independent and is focused solely on your
individual well-being. That's why if you want even more advice, wealth-building
strategies and dozens of ideas to protect yourself from what is happening to
our economy right now, I urge you to take a moment and visit
this page.
I will help you get your assets out of paper money and convert
them to real, physical assets. I'm convinced that you can protect yourself and
even increase your wealth over the next several years as the government
depreciates the value of the U.S. dollar... inflation goes through the roof...
and the price of gold continues to skyrocket. So please go here
now!
Times of great economic upheaval present rare opportunities to make
life-altering decisions not possible at any other time!
Yours for the truth,
Bob Livingston
Editor, The Bob
Livingston Letter®
Plan
A is Inflation, Plan B is Depression
That tightness you’re feeling? Rock, meet
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SIDEBAR
Growing your own groceries in five-gallon buckets allows you to
raise enough food to feed a family of four in a tiny space. When growing food
in buckets, you don't need a 1/4 acre backyard to raise a bountiful garden as
some people claim.
It is always best to use a brand new bucket when growing crops.
Buckets get filled with all kinds of junk, fluids, and garden scraps that could
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A bucket that has previously housed swimming pool chemicals,
asphalt, or chemical pesticides should be avoided entirely. Plant diseases are
often spread by the use of contaminated tools and containers.
Plastic buckets are far more suited for growing groceries than
metal ones. Metal buckets will rust and allow the rust to leach into the soil
and ultimately, your food source...
Growing Food in Buckets: A Step by Step Guide
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