FerFal on Preparing for an Economic Crisis

Thanks to Ryan at TSLRF for pointing this one out.

Great basic overview from FerFal r.e. steps to take to prepare for an economic collapse - legitimate good advice.

Like we discussed here a while back, FerFal talks about the importance of having cash on hand in a situation like this. Most currencies will take a while to collapse - or at least for the market to realize that they have collapsed - but banking systems collapse much faster. In that initial "gap" period, as FerFal says, cash is king.

This is what happens in the real world...not an immediate descent to Mad Max anarchy, but freezing of assets, inaccessibility of banking and cash, etc.

Definitely worth a watch.

To FerFal's advice, I would also add that, eventually, you consider having some cash in alternate currencies. BitCoin is getting a lot of press these days and the value has sky rocketed since the beginning of the year. Worth a look. If you live near a border or have family in an international country, it'd be prudent to have some of that currency around. A little bit of diversification is a good thing, amigos.