An important article by Robert Fisk in the The Independent. (HT: Seldom Seen Slim)
Frugal bastards like me, who live according to the old virtues, play by the rules, are totally debt-free, save and invest, exercise 'due diligence' across the board -- we are now going to get the shaft through no fault of our own. What's a poor philosopher to do as his stash of cash threatens to transmogrify into a pile of trash? Three simple suggestions:
1. Buy gold and other precious metals. But gold is at an all-time high of $1038.65 a troy ounce, and you know what they say about buying high. Gold is extremely volatile and has no intrinsic value. Nor does it have any growth potential like stocks. Because the world's gold supply increases very slowly, its exchange value is mainly driven by demand. But the demand is perception-driven, so be careful. Still, gold is and always has been the money of last resort, money for when the crap hits the fan, and thereafter.
2. Stockpile nonperishable goods, including those you don't use yourself. What you don't need or want can be used later on for barter. While prices are low and the dollar still has purchasing power, lay in a supply of clothes and footwear, tools, mountain bikes and musical instruments, wine and liquor, canned food and dry staples such as rice and beans, guns and ammunition, and so on.
3. Make repairs and improvements on your domicile.
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