(Part 2 of Chris’ interview with FerFAL, which focuses on smart steps an individual can take in preparation before an economic collapse, is only available to enrolled users.)
Click the play button below to listen to Part 2 of Chris’ interview with FerFAL (runtime 28m:02s):
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Or read the transcript to this Part 2 podcast below:
Chris Martenson: Welcome to the PeakProsperity.com podcast for enrolled members. We are talking with FerFAL about the Argentinean experience. This is Part 2 of a podcast, and what we want to do here is talk about some of the specific steps people can take. So we’ve set it up in Part 1 —the United States, when we look at various sign posts, has many of those in common, if not too many of them, in common with Argentina in the pre-collapse stage. Your assessment, FerFAL, was that it is at this point given certain realities, some political, some just math and economics, that the United States has a date with some sort of an emergency which will be a currency emergency or inflationary episode. In retrospect,what were the smart moves to have take before hyperinflation set in? What could people have really done?
FerFAL: Well, what most people wish they had done would be taking their money out of the bank before it closed. That’s pretty obvious because, you know, people losing their savings and life savings—if they could go back in time the first thing they would do would be closing their bank accounts. Now for people in U.S.A., that may not be enough, because if you do that, you have your U.S. dollars, and the currency, the value. Let’s suppose for a second a worst-case scenario where the U.S. dollar devalues all of a sudden and loses 50 percent of its purchasing value. What people would have wished in that situation would be to have bought some gold and silver, some precious metals to protect their savings. That’s by far the best. If you have—if you’re certain that there’s going to be an economic collapse, the best thing you can do is put your money into gold and silver, because it not only keeps its purchasing value; it’s more than likely to go up a lot during these times of uncertainty.
by travlin