I'd like to introduce you to Chris Martenson. He's so up-to-the-minute that he doesn't even warrant a wikipedia page yet. He has, however, managed to do in 2.5 hours what Mr Warnes failed to do over two years and that is to get me to understand economics. His crash course is excellent and I strongly recommend that you take it. You'll never look at the "boring bits" on the news in the same way again i.e. Dow Jones, FTSE100, price of gold/oil and the dollar/pound/euro against the greenback etc.
Today Chris is foreshadowing a Bank Holiday. Sounds nice, doesn't it. It's not. The last Bank Holiday was for five days in 1933 when Franklin D Roosevelt closed the banks. Closed. As in, no money in. And no. money. out.
How would you do with no access to money for five days? No credit cards, no debit cards, no EFTPOS, no ATM, no cash, no payments, no direct debit. Nothing, nada, zip.
Some might consider that Chris is a Chicken Little wildly shouting that the sky is falling. Others, after taking the crash course and using their brains a bit, might conclude that the sky IS falling. Furthermore, some may realise that bits of the sky are lying scattered in the street, but everyone's too busy checking their Facebook profile, Thinking They Can Dance or pondering Sarah Palin's shoes, to notice.
I think the time has come to get the tin box under the bed. It's a euphemism people...there really isn't a tin box under the bed! It means that I think it's time to consider that nothing is safe, not even the banks. It's time to pay attention, take responsibility and be prepared. Lay in some food stocks on staples: flour, rice, butter, milk (powdered! I mean it!! It won't kill you), noodles, stock cubes. Plant a few vegetables, even if it's just a single tomato plant in a pot. Store up some tinned goods and cereals. Pay cash. Pare off everything you don't *need* from the budget. If the world economy goes under - and it may well do so - your disposable income is going to go kaput. We're planning ahead. If necessary we could provide housing for a whole 'nother family in our home and we'd be prepared to do so. A second family could be accomodated in the garage. I'm not joking. The toy room is being attacked today and the toys culled. We've got double cupboards which are about to become a food store. I'm teaching myself to sew again and have plans for the vegetable plot. They've been sort of tentative plans for years, but now it's essential.
This is the way it could go.
I *know* our government is saying we'll be OK, our economy is strong, our banks are regulated, our commodities are still popular rah, rah, rah. That may well be so. But the days of economic isolation are over. We are members of the global economy and what affects the US is going to affect us too.
I'd love to think that I've actually flipped my lid, but it ain't so.
Please. Take the crash course. Think about the issues for yourself. Then start making some plans. The day will come when you'll be very glad you did.
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