(In Part 1, Leasi shared her account of life in Brazil during the hyperinflation that raged there between 1980 and 1994. For Part 2, I have a Q&A with Leasi that sheds a little more light on what she endured during that time.)
Len: Thanks for taking the time to share your story with me and my readers, Leasi! You mentioned that you had trouble finding a job in your chosen profession after
Continue reading Brazilian Hyperinflation: A Reader Explains What Life Was Like (Part 2)
(Readers: In 1990, inflation in Brazil was running at 3000% per year. At that rate, a loaf of bread that cost $3 on New Year’s Day would cost $93 by December 31. With that in mind, awhile back one my readers, Leasi, mentioned that she had lived in Brazil during its hyperinflationary period from 1980-1994. So I rolled the dice and asked her if she would be willing to share
Continue reading Brazilian Hyperinflation: A Reader Explains What Life Was Like
Ever since I started writing about the importance of owning physical gold and silver as insurance against the inevitable failure of the US dollar, I’ve been receiving an increasing volume of questions in my inbox from folks curious to know more about precious metals.
With that in mind, here’s one that I received last week from Joshua:
“I was wondering about how much (gold and silver) a person should own. I’m 38,
Continue reading Economic Collapse 101: How Much Gold and Silver Should People Own?
It’s ironic, but bankers and fiscally irresponsible governments despise gold and silver. Why? Because precious metals demand accountability, that’s why.
In short, gold-backed currencies force responsible governments to live within their means.
That is precisely why, back in 1971, Richard Nixon was forced to nullify the Bretton Woods agreement, which was signed at the end of World War II, and permanently closed the gold window.
As you might expect, Nixon felt he had
Continue reading Economic Collapse 101: The Most Important Insurance We Never Buy
Fiat-based paper currencies facilitate commerce by acting as a medium of exchange that’s far preferable to bartering. Unfortunately, governments that wish to spend beyond their means can — and do — print fiat with impunity, thereby leading to chronic monetary debasement that can wipe out savings and even disrupt societies. On the other hand, gold and silver pay no interest, but they have no counterparty risks either; that makes them
Continue reading 100 Words On: A Guaranteed Way to Preserve Your Wealth
I’ve already explained how and why the US has placed itself on the irreversible path toward economic collapse. Suffice it to say that our entire economic system, led by the Federal Reserve, is a massive Ponzi scheme that has been running for over 100 years now.
It’s a ticking time bomb — and the fuse is getting visibly shorter with each passing day.
How long can the Fed continue printing money and
Continue reading Economic Collapse 101: How to Prepare for Water Supply Disruptions
Most folks are really good about making sure they have the proper amount of insurance for their home and automobiles. But when it comes to ensuring the survival of their family in rough economic times, well … not so much.
I recently explained why I believe an economic collapse is inevitable and what it would look like.
If history is any guide, the good news is that economic collapse won’t result in
Continue reading Economic Collapse 101: Ten Ways to Prepare for the Unknown
It takes courage to face the bogeyman.
I bet many of the good folks in Great Falls, Montana, were more than a little worried earlier this month after a local television station there sent out an ominous message warning viewers that the dead were “rising from their graves and attacking the living.”
Hold on, hold on. Before you grab your shotgun and hunker down in the basement, consider this: It turns out
Continue reading Economic Collapse 101: What It Will Look Like, and How It May Start
Sometimes it’s not easy being an ant. Especially when you’re living among a bunch of grasshoppers.
There’s a well-known Aesop fable about an oblivious grasshopper who spent his summer days living the high life and mocking an industrious ant, who was busy building a shelter and storing food for the coming winter.
Of course, we all know how that worked out for the grasshopper. After winter arrived, the well-prepared ant found himself
Continue reading Economic Collapse 101: Comparing Costs of Emergency Food Supply Options
The face value of this silver quarter is 25 cents, but it's really worth a whole lot more.
Back in 1964, a gallon of gasoline cost about 25 cents in the United States. That’s right. Believe it or not, way back in 1964, you could buy a gallon of gas for a quarter.
It just so happens that 1964 was the last year that the US Treasury minted silver coins, including
Continue reading Silver and Gold: The Superheroes of Wealth Preservation