Posted on 09/19/2011 5:57:45 PM PDT by Nachum
Peter Schiff wraps his congressional testimony on the Obama jobs plan, which was one of the most memorable such Congressional hearings on the topic to date, with the following letter of caution to all Americans. To wit: "I don't think those few open minds in the Capitol are going to be enough to keep this ship from sinking. There just isn't enough time or a strong enough will for reform from the American people. That is why it is so important for you to act individually to protect yourself and your family from the new age of stagflation. Please take the time to view my testimony, understand the problems we face, and align your investments accordingly." We urge anyone who has not watched Peter's testimony yet to do so below.
From Peter Schiff:
Dear Friends and Supporters,
As many of you know, last week I was invited to Washington to testify in front of the House of Representatives Subcommittee on Government Reform and Stimulus Oversight. For that, we can thank Subcommittee Chairman Jim Jordan (R-OH).
The subject of the hearing was job creation in the United States – specifically, what the government can and can’t do to boost employment. While many people have asked me in the last few days why I even bothered to participate, I think it was a valuable experience. I don’t expect that anything I said will make an immediate impact on policy, but at least some of my opinions got a fair hearing in the halls of power.
After the testimony, I did have a few one-on-one meetings with open-minded Congressmen from both sides of the aisle. Maybe they were just being polite, but they had no obligation to talk to me, or even invite
(Excerpt) Read more at zerohedge.com ...
The answer is what you are doing now. Talk to your friends in the community and build a support network. In the end, we all have each other and that is what gets us through.
What skills do you have that others might need? Plenty of folks have money, skills and items they will trade with each other. Money is convenient. We will likely still be using it after the SHTF. Many are using their money now to stock up on whatever might be too expensive in the future. Remember, it isn’t the actual *end of the world*, just the end of *as we know it.*
You are not alone.
Thanks!!!
“I feel like we are all just sitting around waiting for some disaster and that maybe even the banks could fail. My money might be FDIC insured...so what? We are going to trust the govt? What else can I do, put it under the mattress? Scary.”
Put your money in your gun safe, and stock up on guns, ammo , and food.
“Stop throwing money at education.” It never reaches the classroom, or if it does it is wasted on useless toys. Teachers are seldom trained except to be “good employees” of school systems that are run by seventh-raters.
Diversify in things that you know will at least be worth the same in 5 years as they are now in a stagnant or inflationary market. In all likelihood, given inflation and potential economic and market disruptions these items will be worth much more.
Food is the safest investment there is in my opinion. The worst thing that can happen is you eat it but it’s an absolute necessity that we take for granted. My wife does most of the shopping but food prices (and portions) are getting ridiculous and we supposedly have low inflation.
There are other items that seem like a safe place to store money that are obvious. Gold and silver too expensive? Consider copper and/or nickel. They are going up in value and will always be needed by industry. Screws, nails, bolts, nuts, and washers are all made out of metal. They will always be useful so it’s a good way to invest small amounts in commodity metals with a useful purpose.
Luxury items such as scotch, whiskey, and other fine spirits are worth consideration. There will always be a demand for these and they are not getting cheaper. They also store for a long time in a steady environment.
As someone else pointed out, firearms and ammo have not gotten any cheaper in a really long time despite consistent production. The Russian surplus Mosin-Nagants are still a good purchase at $90-130 bucks each. I remember when SKS rifles were $80 each and AK’s were $150. I wish I had bought more of them. Surplus rifles have been a pretty decent investment if you compare the price 10 years later. They will more than keep up with inflation and you can always use one. Ammunition also has a pretty good metal value in addition to being useful and in demand.
Just a few ideas on hedging for the future and you can probably think of others. I am confident that every item I listed above will be worth more than today’s dollar in 10 years. I assume you have a reasonably secure place to store stuff and if you are lucky you could make the best investment of all.... some land with a garden, orchard, and good neighbors.
Best wishes.
Thanks for posting both Youtube links. Schiff destroys the lib next to him and has the last word with that blow hard Cummings (D).
Regards.
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