The Most Important Insurance We Never Buy

The Most Important Insurance We Never Buy

By Len Penzo

It’s ironic, but bankers and fiscally irresponsible governments despise gold and silver. Why? Because precious metals demand accountability, that’s why.

In short, gold-backed currencies force responsible governments to live within their means.

That is precisely why, back in 1971, Richard Nixon was forced to nullify the Bretton Woods agreement, which was signed at the end of World War II, and permanently close the gold window.

As you might expect, Nixon felt he had no choice. The US had been living well beyond its means for more than a decade, printing lots of federal reserve notes to pay for expensive endeavors the country couldn’t truly afford, like the Vietnam War and LBJ’s so-called “War on Poverty.”

That, in turn, led to an increasingly devalued US dollar. So, in order to preserve their wealth, many of the world’s central banks — led by West Germany, France and Switzerland — began redeeming their rapidly depreciating US dollars for the gold stored in Fort Knox; so much so that by the time 1971 rolled around, America had only half the gold reserves it did in 1960.

In fact, it’s been said that the gold outflow was so rapid, if it continued, America’s gold reserves would have been completely consumed within a few more years.

Of course, instead of closing the gold window and abandoning Bretton Woods, the US could have simply scaled back its spending — but that’s what happens when critical financial decisions are left to profligate politicians and their complicit central bankers.

Since abandoning its ties to gold in 1971, America has greatly expanded the size of the federal government, destroying the dollar’s utility as a store of value in the process — so much so that it takes $615 today to buy the same basket of goods and services that $100 would fetch in 1971.

The bad news is, savers, retirees and other folks on fixed incomes depend on their currency to hold its value; and if currencies depreciate too quickly, it leads to lower living standards — for almost everyone.

Over the past decade, the Fed’s printing presses have conjured more than $4 trillion in new money out of thin air — and that doesn’t bode well for the US dollar’s value and continued confidence in its future.

Unlike paper money, precious metals can’t be created out of thin air, and that makes them proven instruments of wealth protection; it’s why some people choose to keep a portion of their savings in gold and silver.

How Secure Are They?

To continue reading, please go to the original article here:

https://lenpenzo.com/blog/id22332-economic-collapse-101-the-most-important-insurance-we-never-buy-2.html

The 50 Biggest Money Mistakes Household CEOs Make

The 50 Biggest Money Mistakes Household CEOs Make

By Len Penzo

I’m not ashamed to admit I make mistakes. After all, everybody screws up occasionally; for us humans, mistakes come with the territory.

For example, I remember the time I decided it would be great fun to play Wii golf for eight consecutive hours. Unfortunately for me, my middle-aged left shoulder vehemently disagreed — after the fact, of course — and so I spent the next week popping acetaminophen tablets like they were M&Ms. I know.

It can be even more costly when we make mistakes managing our personal finances; I know I still make them from time to time.

As this penny illustrates, even the United States Mint occasionally makes money mistakes.

Here are 50 of the biggest financial faux pas household CEOs make. How many of these apply to you?

1. Being impatient. People of modest means should understand two important facts: 1) we cant have it all at once; and 2) saving money takes time — sometimes lots of it.

2. Failing to read contracts before signing on the dotted line.

3. Using payday loans to cover temporary financial shortfalls.

4. Giving your kids everything they desire. It’s hard to get a feel for the value of a dollar when you grow up never wanting for anything.

5. Signing your tax returns without reviewing them — even when they’re done by a tax professional.

6. Buying a new car and selling it after only a few years. Buying new cars is costly because they can lose upwards of half their value by the time they are three years old.

7. Not doing your research before purchasing extended warranties.

8. Going into debt to purchase things that will decrease in value.

9. Maintaining memberships with monthly payments even though you no longer take advantage of them.

10. Using credit card convenience checks that fill your mailbox. You can reduce the temptation by stopping those dubious credit card offers and other annoying junk mail.

11. Failing to track your income and expenses.12. Not saving part of your income for retirement. Try saving at least 10 percent from every paycheck; it’s never too late to start.

13. Keeping cash in a low-interest earning savings account despite carrying a high-interest credit card balance. Use any savings over and above that needed for emergencies — and riding out a potential job loss — to pay off credit card debt.

14. Loaning money to friends and relatives.

15. Taking a loan from your 401(k) retirement fund to pay for current expenses.

To continue reading, please go to the original article here:

https://lenpenzo.com/blog/id13789-the-50-biggest-money-mistakes-household-ceos-make-2.html

What’s the Best Way to Give a Financial Gift?

 What’s the Best Way to Give a Financial Gift?

By Anum Yoon

When it comes to gifts, we all know it's the thought that counts -- which is why there are certain self-described gift-giving mentors who don't encourage financial gifts. Of course, those same folks have probably been on the receiving end of monetary ... ifts and were ecstatic.

As with all things in life, there’s a right way to give a financial gift, and a lot of that has to do with the recipient and their age. Here are some things to consider for the next time you reach into your wallet for a gift:

Gift a 529 Account

Parents of newborns have a lot on their minds. They might not be thinking about that kid’s college education just yet at least, until they master the art of the diaper change!

 As a supportive friend or family member, you can help get them started on that looming tuition bill by providing them with information about a 529 college savings plan. Once they’ve set up that account, you can then be the first contributor.

All you need is the account number to make a transfer. This is actually one of those financial gifts you can keep coming back to every year. By the time the little one is ready for college, they could have a very decent nest egg.

Give Cash to Young Ones

Cash in an envelope is such a wonderful surprise. That’s true at any age, but it works especially well for younger recipients. It’s a great way to start teaching kids the value of money. They’ll be faced with an immediate choice: spend or save. If they have their eye on a special gizmo, then saving will be the only way to go. That cash also helps with math skills, as it assigns numeric values they can see.

To continue reading, please go to the original article here:

https://lenpenzo.com/blog/id40674-whats-the-best-way-to-give-a-financial-gift-2.html

Economic Collapse 101: Ten Ways to Prepare for the Unknown

Economic Collapse 101: Ten Ways to Prepare for the Unknown

By Len Penzo

Economic Collapse 101: Ten Ways to Prepare for the Unknown

By Len Penzo

Most folks are really good about making sure they have the proper amount of insurance for their home and automobiles. But when it comes to ensuring the survival of their family in rough economic times, well … not so much.

It’s no secret that recent volatility in the world financial system has more than a few people openly talking about the threat of an economic collapse — and I’ve been explaining for several years now why I believe an economic collapse is inevitable.

If history is any guide, the good news is that it won’t result in a complete breakdown of society. Argentina has suffered through multiple collapses of its own economy through the years and life goes on — but it remains less than idyllic there.

Nobody can say exactly how the collapse of the “almighty” US dollar will unfold, but you can bet that most people will be unprepared if and when it happens. If we’re lucky, it will happen one weekend after the-powers-that-be announce a bank holiday followed by a complete fully-controlled system reset that results in significantly lower standards of living for everyone.

If not, collapse will be much more chaotic …

The worst part of any such chaotic, unplanned, economic collapse occurs in the first few weeks after the initial event that precipitates the crisis. It could be an extremely volatile and scary time — especially in major metropolitan areas — as people caught unprepared end up roaming far and wide, searching for the most basic of necessities, and doing whatever they must to ensure their survival until a new currency is eventually established that helps repair the broken supply chains.

Until that occurs, however, most people will have to rely on the black market for almost everything, but life will go on, and goods and services will continue to be traded — just far less efficiently than before.

How long will it take for things to get back to a relative state of normalcy? That’s anybody’s guess, but I’ve been preparing under the following assumptions:

A collapse of the US dollar will not — repeat, WILL NOT — result in a Mad Max end-of-the-world scenario

Supermarket shelves will remain empty for six months

With that in mind, here’s how you should consider preparing for a collapse — in order of descending importance:

Water. If you’re dependent on your local municipality for water, what will you do if a lack of spare parts shuts down the water system for a week or two? If the situation is dire, you can get by on about one quart of water per day.

However, ideally you should prepare to have at least one gallon per person per day for at least two weeks, preferably four. You should also purchase a heavy duty filter to purify additional water. Top-of-the-line water filters that will purify up to 13,000 gallons cost roughly $250.

Food. In the opening days and weeks of the crisis, the last place you’ll want to be is anywhere near a supermarket, fighting clueless hooligans or hoards of looters and panicked people. Some of the cheapest food available on a cost per calorie basis is white rice.

And while canned food is preferable to dry, dehydrated, and freeze-dried vittles because it’s ready to eat and doesn’t require other valuable resources to prepare such as heat and water, it’s also much more expensive. That being said, while there may be occasional utility disruptions due to a lack of spare parts, I don’t expect catastrophic failures.

You should have at least a six-month supply of food on hand. Remember: Even if the food shortages fail to manifest themselves or are quickly extinguished, the food you store will come in handy if you find yourself unemployed and unable to afford, say, $30 for a loaf of bread.

Warmth.  Although I live in a warm weather climate, I realize many people don’t. If you live in an area with extremely cold winters, make sure you have a sufficient supply of wood or heating oil on hand.

Medications.  If you need prescription medications, make sure you have enough to get you through until the supply chains are restored. Make sure you always have an extra bottle or two of aspirin, cold medicine and vitamins. You should also have a decent first-aid kit and, if at all possible, a supply of antibiotics on hand.

To continue reading, please go to the original article here:

https://lenpenzo.com/blog/id18329-economic-collapse-101-ten-ways-to-prepare-for-the-unknown-2.html

The 13 Most Important Items To Keep in a Fireproof Safe

The 13 Most Important Items Everyone Should Keep in a Fireproof Safe

By Len Penzo

For some people, it’s tough letting go. Of anything.

Take my wife, for instance; she saves everything.

The other day the Honeybee showed me her baseball ticket from our very first date way back on September 24, 1995.

And if I ever feel oddly compelled to scrutinize the birthday card I received from my mother-in-law in 1998, I can rest easy knowing that the Honeybee has it dutifully stored upstairs in our bedroom closet.

What’s that? You say you’re looking for the operating instructions to a vintage Easy Bake oven, circa 1986? If I’m not mistaken, they’re in our closet too, not far from the rest of those 643 old birthday, Christmas, Easter, and Mother’s Day cards she’s been saving that nobody will ever look at again.

Protecting the Important Stuff

I’m a bit more judicious than the Honeybee when it comes to saving things — and I use a fireproof safe for the most important stuff.

Of course, no strongbox can hold everything — and so that demands a bit of discretion when deciding what to put in them. Here are some of the more important things you should consider protecting:

Birth certificates. Your birth certificate is proof that you are a citizen of the country you live in. Lose it, and you’ll have a difficult time getting a passport, or landing a job that requires proof of citizenship.

Property titles. Yes, home deeds and car titles are replaceable, but why go through the hassle if you don’t have to?

Insurance policies. Home, life and auto insurance policies are a key part of any financial back-up plan. If your house burns down or has been burgled, the first thing you’ll want to get your hands on is a copy of your home insurance policy and your agent’s phone number.

House photos. Speaking of insurance, photos of the interior and exterior of your home are invaluable for reporting losses due to fire or theft to your insurance company. If possible, keep them on electronic storage media like a thumb drive or CD.

Safe deposit box keys. Not having access to your safety deposit box during an emergency is not only inconvenient, it can be costly, as the boxes will have to be forced open and replaced at your expense.

Social security cards. Your social security number is required to get a job, collect social security benefits and receive certain other government services. That’s why the US Social Security Administration strongly advises people to not carry the cards on their person.

Passports. Getting a new passport on short notice, while not impossible, is still a tough order. Even expedited passports can take as long three weeks to process.

To continue reading, please go to the original article here:

https://lenpenzo.com/blog/id6051-what-to-keep-in-your-fireproof-safe-2.html

"Different Paths to the Same Finish Line"

"Different Paths to the Same Finish Line"

From the Recaps Archives originally posted on 6/21/2019

Dinarville Seems To Have Some Undeniable Divisions In It – Which Kind Of Reminds Me Of The Three Sects In Iraq 

Dinarville seems to have some undeniable divisions in it – which kind of reminds me of the three sects in Iraq.

Each one sure of their path and beliefs, and ‘they’ are right – or somehow more correct than the other two.

It seems to me, there are those that follow the Elders, Dragons, Chinese – Landa Global (zap) – bonds and their redemptions….

Then those that are following global economics, implosion, crash, the changes internationally in banking, old system out while new system comes in….

We have the republic folks, believing in our constitution being restored to the way it should have remained before we were all duped…

And we have the Iraq newshounds, following each move made there, each step of each law, watching them follow a well laid out blueprint and many of these folks know more about THEIR government than they do their OWN!

Many of these groups claiming this all 'has nothing to do with the other!'

Unfortunately, it’s sad when each of these sects in dinarville speak so terribly of the others – and develop such venom towards another's beliefs, one guru against another, and dinarians follow that lead.…. I say – BIG DEAL! Who cares..

 It’s not all that important what the rest of the gang thinks, or believes – they have waited just as long as the rest, sweated, hurt, and tried their best to hang in there based on what they believe.

All that's important is that YOU are comfortable with what YOU believe - that's all that matters at the end of the day, that we're ready.

Each one - of these sections of Dinarville – also seems to have a few leaders in their arena to choose from.. some which make a living at this, others that don’t.. again – who cares what they get.

Anyone noticed how extremely well respected and highly educated individuals believe directly opposite from the way you do?? doctors, lawyers, doctorate degrees in dinarville -

I think they can be found on each of these 'paths'....

I just find it extremely ironic – that each one of these different avenues seem to be reaching an end and in their final scene. Anyone else notice this?

The Republic folks are all giddy with excitement, the last leg, seeing what they have dreamed of finally coming to an end, etc….

The Bond Redemptions – are reported to be upon us for those that have lived the Chinese angle with every breath and dollar they have…

And Iraq is about to vote on their final laws, talking everyday about deleting zeros and international compliance of this, that, and more!

Is there only one road to the finish line? Who said so?…

Could there be truths in each path? Ha!!

I think it’s mighty amazing tho – that all of these paths seem to be in the final scene, right now – and never has that been the case in the past that I know of.

Goes back to the ‘we are one big Dinarian family’ – heck, families never get along with EVERYONE in their family – but it’s so darn true… and, over the last year or so – I’ve certainly become less judgmental when others have beliefs total opposite to mine…

Chances are – they will arrive at that finish line following their path precisely the same time as me!

.Does Money Buy Happiness?

.From Dinar Recaps Archives posted on 6/25/2019

Does Money Buy Happiness?
Britain’s Most Eccentric Billionaire Reveals the Truth
October 22, 2018 By The Money Wizard

If you’re from the United Kingdom, you’ve no doubt heard of today’s guest.

If you’re an apple pie eatin’ American across the pond like myself, you’re probably just as confused as I was. Well, let me tell you, you’re in for treat.

Our guest is worth an estimated $750 million British pounds, which translates to about $965 million US dollars and places him close enough to a billion to allow me to fib on this article’s headline, mostly guilt free.

He began his path to wealth exactly like you’d expect… as a broke singer in an R&B group, selling magazines on street corners.

Ok, probably not the most common road to riches. But his weird side hustle led to a light bulb moment he couldn’t ignore. He had an unbelievable talent for selling magazines.

Before long, he’d founded his own magazine company, but still strapped for cash, he moonlighted as an unqualified biographer. He took the jobs nobody else was interested in – like a biography about a still relatively unknown martial artist named Bruce Lee.

When Bruce Lee’s unexpected death randomly coincided with the release of the biography, our guest found himself as the world’s premier Bruce Lee expert overnight. Not to mention, the proud owner of the rights to the world’s only Bruce Lee biography. He made a fortune.

How’s that for the most random story to riches ever?

From there, he used his windfall to build up a publishing empire which now includes Maxim, The Week, Men’s Fitness, and a host of massive online properties, like MentalFloss.com.

His name is Felix Dennis.

And he’s one of the world’s most eccentric multi-millionaires.

is wealth is just one reason for his fame. He also gained notoriety when he admitted that during one particular binge filled decade, he spent over $100 million dollars on a frequent mix of 12 high priced escorts at a time and cocaine “delivered by the bucketload.” (His words)

Oh, and in one especially bizarre drunken interview, he me may or may not have admitted to killing a man.

All this makes him sound like a bit of a scumbag. But the Brits assure me he’s more like the country’s lovable (and rich) drunk uncle.

To continue reading, please go to the original article at

https://mymoneywizard.com/does-money-buy-happiness-felix-dennis/

Powerful Wisdom From One Of The Toughest Men Who Ever Lived

Powerful Wisdom From One Of The Toughest Men Who Ever Lived

Notes From The Field By Simon Black 

March 24, 2020  Bahia Beach, Puerto Rico

One day back in the late 1990s when I was a wide-eyed 20-year-old cadet at West Point, we were told that a distinguished visitor was coming to speak, and to be seated in the auditorium by 1pm sharp.

This was pretty routine; one of the great things about attending West Point was the seemingly endless line of world leaders, athletes, scientists, and even celebrities who would address the Corps of Cadets.

During my time at the academy we heard from people like Colin Powell, Oliver Stone, Bill Clinton, and countless more.

On that particular day, the speaker was Vice Admiral James Stockdale.

Stockdale isn’t a household name, but as I would come to learn, he was one of the most impressive and toughest human beings who ever lived.

He was in the twilight of his life when he came to speak to us, just a few years before his death. But even at his advanced age, he had the presence of a giant.

Stockdale had been a US Navy fighter pilot. His full name was James Bond Stockdale, so his call sign became “007”. Perfect.

Stockdale’s life changed in September 1965 while flying a mission over North Vietnam. He was shot down, captured, and spent the next 7 ½ years as a Prisoner of War in the infamous ‘Hanoi Hilton’.

As a POW, Stockdale was tortured regularly, beaten savagely, and exiled to solitary confinement.

But he never broke.

At one point during his captivity when he found out that he was to be paraded out in public in Vietnam, he beat his own face to a pulp with a wooden stool, and slashed his scalp with a razorblade, so that he couldn’t be used as a propaganda tool.

He also slit his own wrists once, demonstrating to his captors that he would rather give up his own life than capitulate.

Stockdale was eventually awarded the Medal of Honor for his extraordinary leadership and personal sacrifice.

Years later in an interview with author Jim Collins, Stockdale was asked about his captivity in Vietnam—how on earth did he deal with such harsh circumstances and uncertainty?

“I never lost faith in the end of the story. I never doubted not only that I would get out, but also that I would prevail in the end and turn the experience into the defining event of my life, which, in retrospect, I would not trade.”

When Collins asked, “Who didn’t make it out [of the POW camp],” Stockdale replied,

“Oh that’s easy. The optimists. They were the ones who said, ‘we’re going to be out by Christmas.’ And then Christmas would come, and Christmas would go.

And then they’d say, ‘We’re going to be out by Easter.’ And then Easter would come, and Easter would go. And then Thanksgiving. And then it would be Christmas again.

And they died of a broken heart.

“This is a very important lesson,” Stockdale continued. “You must never confuse faith that you will prevail in the end—which you can never afford to lose-- with the discipline to confront the most brutal facts of your current reality, whatever they might be.”

This is the situation that each of us is facing right now.

We want to be optimists. We want to believe that this pandemic is going to magically vanish tomorrow morning and that we’ll all be able to go on with our lives as if nothing has changed.

But that’s not going to happen.

The brutal facts of our reality are that this pandemic continues to spread rapidly, and it has the potential to kill millions of people.

Reducing that projection requires shutting down the entire global economy… resulting in a wide range of catastrophic consequences, including tens of trillions of dollars of prosperity wiped out, countless jobs lost, millions of bankruptcies and defaults, entire governments going broke, and more.

Saving the economy condemns millions to die. But saving millions from dying condemns hundreds of millions to suffer.

These are the facts. And they are brutal.

To make matters even more difficult, we’re also dealing with a tremendous uncertainty.

There’s no telling what’s going to happen next. Or when. We could see martial law. Supply chain disruptions. National defaults. Looting. Bank failures. Even hyperinflation.

EVERY scenario is on the table… even ones that seemed unthinkable just a few weeks ago. Anyone who says, “There’s no way that could happen,” clearly doesn’t grasp what’s happening.

And frankly we haven’t even seen the real problems yet.

Just wait until the healthcare system is totally overwhelmed, the unemployment rate soars, and major companies start declaring bankruptcy.

I mean… there are still millions of people around the world right now (including countless shit-faced university students on spring break) who aren’t taking this pandemic seriously yet.

We’re clearly still in the opening phase of this crisis; so things could become much worse before they improve.

But amid such harsh circumstances and uncertainty, we should also recognize, as Stockdale did, that the world is not coming to an end.

We cannot afford to be misguided, ignorant optimists who irrationally believe that everything will go back to normal tomorrow morning without any consequences.

Everyone needs to confront the most brutal facts of our current reality—both the challenges and opportunities.

But we should never lose faith that we will prevail in the end and may look back on this pandemic as the most formative and defining event of our lives.

To your freedom & prosperity, Simon Black, Founder, SovereignMan.com

https://www.sovereignman.com/trends/powerful-wisdom-from-one-of-the-toughest-men-who-ever-lived-27575/

99+ Thought Provoking Questions to Ask and Answer Today

99+ Thought Provoking Questions to Ask & Answer Today

By Dan Western

What are thought provoking questions?

The meaning of these questions is to get you think deeply about your answers, and the effects they’re having on your life. Thought provoking questions help you to become more self-reflective, and therefore be able to improve your life in multiple areas.

It’s probably best to write your answers down, so that you can look back on them at a later time and analyze whether the question has helped you to think differently.

1. Are you able to say no, even when it makes you unpopular?

2. Are you satisfied with your work?

3. Do you bring your work home with you?

4. Do you follow through on commitments?

5. How do you apply the learning from this regret to your actions today?

6. How do you react when you encounter a homeless person?

7. How much time are you spending on social media?

8. If you could ask for one wish, what would it be?

9. If you could spend 10 minutes with anyone, living or dead, who would it be? Why?

10. If you had a year left to live, what would you achieve over the next 12 months?

11. If your entire life was a movie, what title would best fit?

12. What are you looking forward to?

13. What did your life teach you yesterday?

14. What gives you meaning?

15. What have you done today to make someone’s life better?

16. What is the source of your procrastination?

17. What small habit can you change today?

18. What would happen if you never wasted another minute of your life, what would that look like?

19. When it’s all said and done, will you have said more than you have done?

20. When you think of your home, what immediately comes to mind?

21. Who are you becoming?

22. Would you break the law to save a loved one?

23. Are you content? If not, what is the source of your lack of contentment?

24. Are your goals and dreams written down?

Thought Provoking Questions (25-49)

25. Do you choose happiness or leave it to chance?

26. Do you have a personal mission statement?

27. How do you challenge your assumptions?

28. How do you spend the majority of your free time? Why?

29. How often do you keep in touch with family and friends?

30. If you could eliminate one things from your life today, what would it be?

31. If you could start over, what would you do differently?

32. If you had to teach someone one thing, what would you teach?

To continue reading, please go to the original article here:

https://wealthygorilla.com/99-thought-provoking-questions/

If You Think It’s Too Late, Think Again. There’s Still Time

If You Think It’s Too Late, Think Again. There’s Still Time

Notes From The Field By Simon Black 

March 23, 2020  Bali, Indonesia

[Editor’s note: This letter was written by Tim Staermose, Sovereign Man’s Chief Investment Strategist and Editor of the 4th Pillar newsletter.]

I’m writing from my remote rural villa in Southern Bali. I made a mad dash to get back here from Hong Kong before the borders effectively shut to visitors, and airlines cancelled virtually all flights.

Nearly a quarter of a million tourists and other temporary visitors have left Bali in February and March, and no one has come in to replace them.

Up to 80% of the island’s economy relies directly or indirectly on the tourist trade. So, it’s going to be very hard for most people here to make ends meet for as long this coronavirus pandemic, and the extreme government measures instituted to try and deal with it, last.

My family and I are fine, and we are well prepared to ride this sort of thing out. But I do fear a break down in law and order if the shutdown goes on for months.

Mentally, I was prepared for this sort of event. I had a plan to deal with it. And I am in a position of relative strength. Though, the scale and speed of the complete meltdown of the world economy and financial system has surprised even me.

It’s like a giant rolling earthquake striking one country after another, pushing health systems to the brink and wrecking the economy.

Amazingly enough, there are still countless people in the world who are not taking this seriously and are cluelessly going on about their lives as if there won’t be any consequences.

They’re like ostriches with their heads stuck so far down in the sand they can’t see what’s right in front of them.

As a Sovereign Man reader, I know you’re different. You’ve hopefully already made preparations with things like cash and gold, and have also taken the opportunity to sell marketable investments prior to the crash, just as we have been writing about.

If you haven’t, there are still things you can do.

When I was in Hong Kong briefly last week, I was very surprised to find that I was still able to buy physical gold at the bank, and at only a minor mark-up above the spot price. (I often buy gold coins at Wing Hang Bank on Queens Rd Central).

While people have been stripping the shelves bare of toilet paper and instant noodles, they have apparently not been buying gold. Yet.

But as Simon will no doubt be discussing later this week, we predict that precious metals are going to very valuable as this crisis continues to play out.

The economic effects alone will be devastating. Central banks will have to print trillions of dollars, euros, etc. to bail out EVERYTHING, from big airlines to small businesses.

And that bonanza of paper money will have a big impact on gold and silver prices.

Moreover, in a crisis, it makes sense to have at least a portion of your precious metals holdings in a place that’s readily accessible to you… for example, in a safe at home.

(That’s also a great place to store some physical cash, which makes sense to own in case the banks start having problems too.)

So, if you haven’t done these things yet, you’re not too late.

My take is that we’re still early in this crisis. And as the old saying goes, the wise man does in the beginning what the fool does in the end.

To your freedom & prosperity, Simon Black, Founder, SovereignMan.com

https://www.sovereignman.com/trends/if-you-think-its-too-late-think-again-theres-still-time-27572/

What to Do if the Coronavirus Outbreak Is Affecting Your Finances

What to Do if the Coronavirus Outbreak Is Affecting Your Finances

Lisa Rowan   3/12/20

All jokes about Netflix and social distancing aside, the coronavirus outbreak is causing financial uncertainty for a lot of people. From workers who rely on tips to events staffers for now-canceled festivals and trade shows, there are plenty of scenarios where the income you can typically count on may not come through.

If you’re lucky, it’s a minor inconvenience. But if it’s causing you greater stress than just having to tighten your purse strings for a few weeks, there are resources you can turn to for help.

If you can’t work

The U.S. Department of Labor has granted states the ability to change their laws so people can get unemployment benefits during the pandemic.

People who can’t go to work because of precautions around the coronavirus and those who are temporarily quarantined can apply for unemployment benefits. If you have to leave your job completely due to risk of exposure or because you need to care for a family member, you’re also eligible to apply for benefits.

Go to your state’s unemployment application site for specific details. If you visit Benefits.gov, you’ll be able to see a directory of every state’s unemployment insurance program website along with quick information like phone numbers and application URLs.

If you’re hungry or can’t afford food

If you need immediate access to food, call the USDA National Hunger Hotline at 1-866-3-HUNGRY (1-866-348-6479) or 1-877-8-HAMBRE (1-877-842-6273). The hotline can provide info in English and Spanish and is open from 7 a.m. to 10 p.m. Eastern time.

To apply for the Supplemental Nutrition Assistance Program (SNAP), contact your state’s SNAP office. You can find your nearest office via this directory..

If you don’t feel well

Congress is working on passing a bill that would cover the cost of coronavirus testing for everyone, regardless of healthcare plan, including doctor and ER visits. People on high-deductible plans would be able to access the test and related care without meeting their deductible, and people without insurance would be able to get tested for free.

But don’t wait for Congress to act if you don’t feel well. If you experience symptoms of the coronavirus, call a local walk-in clinic to talk through the next steps for your situation. If your town has a free clinic, they may also be able to direct you by phone. And of course, if you’re having a medical emergency, call 911.

If you can’t pay your bills

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