Silver and Gold

 Just so we are clear, I am NOT a personal finance expert. However, that doesn’t mean we can’t talk about finance here. If you have been paying attention to the news you have undoubtedly noticed all the talk lately surrounding the recent failure of several banks and the uncertainty that has cast on the US banking system. Couple that with the recent developments regarding the expansion of SOC (Shanghai Cooperation Organization) and BRICS (Brazil, Russia, India, China, and South Africa) and their intentions to move away from the US Dollar. There is cause for some concern as it starts to call into question the dollar as the world’s reserve currency.

As a result, we are inundated with dire predictions about our financial system. Whether these predictions come true or not is anyone’s guess. The one thing we can agree on is that it is prudent to make plans financially for any disasters.

I’m not here to rant about the devastating effects on the dollar by going off the gold standard, (creating a Fiat Currency) or the disastrous effects that years of quantitative easing have had on the dollar. But what I would like to discuss is the value of strengthening your Financial Preparedness position with regards to disasters and emergencies.

Before you take the first steps to becoming financially prepared, you should have basic knowledge of your finances. Financial literacy is the ability to make informed decisions in managing your financial resources and making smart choices on how to spend your money, which can empower you to plan for emergencies and disasters.

The best way to plan for the unexpected expenses that may result after a disaster is to start saving today. Saving money can help you and your family avoid taking on more debt to respond to the costs of rebuilding your life after an emergency.

Where should you save that money is the question? In a Natural or Man-Made Disaster, you may not have access to ATMs, or Banks. Suppliers may not have an ability to conduct Credit Card transactions or electronic transfers. In certain instances, it would be advantageous to have ready access to Cash to conduct necessary business.

I believe the importance of having some physical silver and gold can’t be overstated here. In the event of a major collapse of global markets or the US dollar these commodities with continue to hold their value. Having silver and gold ETFs might be a good investment, however, when things go bad you will want the physical metals in your hand. 

That said, keep your cash and precious metals in a place that is easy to get to (close to home). Remember that you might not have access to your neighborhood bank, so keeping them in a safety deposit box could be a problem in time of emergency. Also, if you needed to evacuate your home in a hurry this is something you would not want to leave behind.

There are reputable companies from which you can purchase Silver, Gold, Platinum, Palladium and Rhodium. Do your research and decide the best strategy for you. 

You can access a free Emergency Financial First Aid Kit (EFFAK) by clicking here for more information.

(These are my personal observations and opinions, yours may differ. Also, I sell and recommend certain products and services here and may be compensated for such recommendations.)