Like many dads, I'm worried about the economy, supporting my family, and what the future holds for our children in a country experiencing economic challenges.
Is it really possible for the economy to collapse leaving paper assets worthless? During the Oil Embargo in the mid 1970s, some gas stations were actually accepting silver coins for payment.
I remember my dad having tube socks with silver coins and telling me how Confederate money was rendered worthless during Reconstruction.
This time last year, Iranian President Mahmoud Ahmadinejad stated that the US dollar is a worthless piece of paper and that OPEC members should convert their cash reserves into a more stable currency.
He later went on to say, "all participating leaders showed an interest in changing their currency reserves to a hard currency".
I'm like yeah who? Hugo Chavez? Those guys would like nothing more than for the US Dollar to be worthless and for our economy to collapse.
From the looks of things, they may get what they want.
As much as I'd like to stockpile gold, it's more useful and practical to invest in silver for now aside from it being less expensive.
Investing in gold is good for wealth accumulation, but it is priced too high for everyday use.
Silver coins on the other hand could be used to barter in the unfortunate event that a collapse did happen.
In addition,silver has many industrial uses such as in batteries, bearings, electronics, water purification, and solar energy et.
al.
I hate to sound like Chicken Little here and claim the sky is falling; I'm just a little nervous and am trying to be prudent and do the right thing.
Speaking of Chicken Little, I read a story about the hardships of Colonel Harlan Sanders, founder of KFC, in Rich Dad Poor Dad with a funny little commentary by Robert Kiyosaki.
Here it is in his words: "Rich Dad gave me a way of looking at Chicken Little.
'Just do what Colonel Sanders did'.
At the age of 66, he lost his business and began to live on his Social Security Check.
It wasn't enough.
He went around the country selling his recipe for fried chicken.
He was turned down 1,009 times before someone said 'yes'.
And he went on to become a multimillionaire at an age when most people are quitting.
'He was a brave and tenacious man.
', Rich Dad said of Harlan Sanders.
So when you're in doubt and feeling a little afraid, just do what Colonel Sanders did to his little chicken.
He fried it :)
Is it really possible for the economy to collapse leaving paper assets worthless? During the Oil Embargo in the mid 1970s, some gas stations were actually accepting silver coins for payment.
I remember my dad having tube socks with silver coins and telling me how Confederate money was rendered worthless during Reconstruction.
This time last year, Iranian President Mahmoud Ahmadinejad stated that the US dollar is a worthless piece of paper and that OPEC members should convert their cash reserves into a more stable currency.
He later went on to say, "all participating leaders showed an interest in changing their currency reserves to a hard currency".
I'm like yeah who? Hugo Chavez? Those guys would like nothing more than for the US Dollar to be worthless and for our economy to collapse.
From the looks of things, they may get what they want.
As much as I'd like to stockpile gold, it's more useful and practical to invest in silver for now aside from it being less expensive.
Investing in gold is good for wealth accumulation, but it is priced too high for everyday use.
Silver coins on the other hand could be used to barter in the unfortunate event that a collapse did happen.
In addition,silver has many industrial uses such as in batteries, bearings, electronics, water purification, and solar energy et.
al.
I hate to sound like Chicken Little here and claim the sky is falling; I'm just a little nervous and am trying to be prudent and do the right thing.
Speaking of Chicken Little, I read a story about the hardships of Colonel Harlan Sanders, founder of KFC, in Rich Dad Poor Dad with a funny little commentary by Robert Kiyosaki.
Here it is in his words: "Rich Dad gave me a way of looking at Chicken Little.
'Just do what Colonel Sanders did'.
At the age of 66, he lost his business and began to live on his Social Security Check.
It wasn't enough.
He went around the country selling his recipe for fried chicken.
He was turned down 1,009 times before someone said 'yes'.
And he went on to become a multimillionaire at an age when most people are quitting.
'He was a brave and tenacious man.
', Rich Dad said of Harlan Sanders.
So when you're in doubt and feeling a little afraid, just do what Colonel Sanders did to his little chicken.
He fried it :)
Source...