Beans & LegumesHow to Prepare for Inflation
So, if you have been keeping tracking of the news lately you will know that federal reserve has just printed another $600 Billion and released it into economy. They are trying to say that this will not create hyper-Inflation. However, there are many economists that disagree. We are not entirely sure if this will happen or not, but we do know that it’s wise to prepare for the worst, while hoping for the best.
Inflation can be nasty. Your money can lose it’s value very quickly and you can be left with nothing very quickly. So here are are few things you can do right now to protect yourself:
1. Get out of debt.
Debt can leave you in a terrible situation if there is hyper-inflation. Your food and other basic costs of living will rise considerably. It will be even harder to make your monthly payment on existing debts and this alone could leave you in a terrible situation.
2. Store Food.
Now is the time to buy food to store in case the prices of food go through the roof. It’s better that you store food with a long shelf-life, that has high nutritional value, is easy to prepare, and will taste great. We would recommend Freeze-Dried Food. Don’t let your family go hungry in the case where you cannot buy any food.
3. Store Water.
You can live without food for much longer than you can live without water. You need clean water to drink, clean, cook, and live. Make sure you have ways to purify water sources when you find it. Don’t expect that the price of water will go down. Water is so basic that it may become very expensive because of demand. Don’t forget water storage!
4. Consider a backup power supply.
“Under my plan of a cap and trade system, electricity rates would necessarily skyrocket” – Barack Obama. – January 2008 interview with the San Francisco Chronicle. Don’t be left out in the cold. Make sure you have a backup plan for your energy needs. You can produce clean, renewable energy on your own. With one of our kits from Goal 0.
5. Grab-n-Go Supplies
If times get really tough, you may need to leave your current area. Don’t wait until a disaster or riots force you to make the decisions about what you should take. Make sure you have solid survival kits for each member of your family. Make sure you have a copy of all your important documents stored with this kits. Make sure they are packed with temporary shelter, food such as MRE’s, and all the basics you will need to survive.
Now don’t think we are just trying to be fear-mongers. We are optimistic for the future of our country, and we surly are hoping for the best. As you go about checking off the above items on your list, don’t try to do more than you are capable of doing. Don’t run faster than you have strength. Just make sure your are doing your very best to get prepared.
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Sound advice for uncertain times, any time at all…always remember the Boy Scout motto of “Be Prepared.”
November 22nd, 2010 at 4:44 amIn inflationary times, you can pay off your debt with cheap dollars IMHO.
November 22nd, 2010 at 4:54 amI agree with Mark. Dollar denominated debt is paid off cheaply with inflated dollars.
November 22nd, 2010 at 5:09 amCheap dollars mean higher prices!! $50 bread, etc!
November 22nd, 2010 at 5:21 amBut remember, your Mortgage isn’t indexed to inflation, so it will become cheaper to pay it off.
Of course, being able to afford to eat and your saving’s purchasing power wiped out is a much larger problem though.
November 22nd, 2010 at 5:32 amI believe that our government wants inflation so they can pay back our debt to foreign countries in cheap worthless dollars . Some nations are starting to wise up to this plan and will refuse to buy our debt . Purchasing freeze dried food is a cornerstone of an inflation plan . Food always has value even when people dont want dollars or gold they will be happy to work for you in a barter situation for food . I believe we will not be able to insulate ourselves totally from our governments actions but can minimize the impact it will have on you and your family . In my opinion store items that have value such as food and water and pray to our God .
November 22nd, 2010 at 5:39 amI would agree with all the recommendations except the first one only because the other items are needed to survive. In other words, if those were listed in order of importance they are greatly misleading as debt would be last on my list. Also, I would suggest purchasing silver over gold any day. It’s less expensive, and it’s value goes beyond that of gold because there’s an industrial component to its use. Supply and demand…
November 22nd, 2010 at 6:29 amYour inflated dollars will only be cheap if you are able to accumulate them faster than the inflation rate. If your employer is stingy or you are out of work inflation is not your best friend. The inflation theory that everything is better with a little inflation is a lie that the banks and the FED have peddled for years. Get you debts paid off and learn to be frugal. Learn how to live on less and learn to fix things around the house where you can.Most of all be safe and compassionate.
November 22nd, 2010 at 7:47 amWhat about purchasing gold and silver. Those are barrier to hyper inflation. buy gold and silver why you can
November 22nd, 2010 at 7:57 amThe whole thing has been planned for many years.Its a systemmatic approach to cause the decline of America .Our Corporate Represenatives in Office know what is going on .Wonder why our jobs are gone ? Ask the Corporations , as they have thier money hidden on offshore accounts and avoid paying Taxes not to mention exploiting other nations for thier very cheap slave labor . Wonder why jobs arent coming back and the unemployment extentions continue? Its because they know eventualy that the estentions will stop and they know the Jobs wont be coming back .This will make people more dependent on welfare and foodstamps or basically under Government control of thier lives . The dollar is a joke, Its value has dropped more than 90% since its inception . All fiat dollars fail in time , America is approaching that time . We are in the start of a Depression .It just hasnt got to the real hurting stages yet meanwhile the Government continues to manipulate markets, have the World Media throw out false data and numbers to fool you and assure you everything is allright .
November 22nd, 2010 at 7:57 amI have to tell it the way it is .Without Jobs , America will continue the decline and thier will be no way around it .
since i live in California , Let me assure you that it is the failure of government to enforce Laws and Liberal Judges that allowed our Illegal immigration to grow now to the point,that over 1 billion plus dollars a year are used to support illegal aliens .Im not blaming them but our Government because they and State Government allowed it .You will see California getting bailed out by the Federal Government in due time.When that happens,all the other states will get thier handouts as well.Its Government and Corruption and excessive Taxation that will cause the collapse of America . Welcome to the New World Order !
P eople need to wake up and depend on themselves so haveing basic Food and water storage should be a must .If you can eat and drink, you can still live !!!
I disagree with paying off debts also. Continue to pay them (if you can) but pay the minimums. Your debt payments are not adjusted for inflation. Save money – cash, gold, silver – doesn’t matter – just save. Put cash (fiat money) in a safe in your home in small bills. Even though it is nearly worthless (and will continue to be) it will still be acceptable payment at the grocery store. (Store plenty of food and water and maybe you won’t have to go to the grocery store.) I do wonder however, will the grocery store accept gold/silver coins as payment? If you give them a gold coin worth, oh say $500, and only buy $200 of groceries, how will they give you change? Or will you be paying $500 for $200 worth of groceries? And what is the “real” worth of those groceries in gold? Hmmm…buying food now seems the best solution.
November 22nd, 2010 at 9:24 amI agree with jacee but as things get tougher. We need to realize we can’t stand alone. Food storage means you can lay in extra items for barter or later consumption.small denomination silver will have value personel care items if you use it today store some for tomorrow.
November 22nd, 2010 at 11:16 amDon’t be so sure they can’t index your debt to the rate of inflation!
November 22nd, 2010 at 11:33 amFixed Rate loans are contracts that are to be paid back in fixed amounts of Federal Reserve Notes, whether those notes are becoming worthless or not. Pay the minimum on those contracts.
On the other hand, Adjustable Rate Mortgages and Variable Rate Loans are based on the official rate of inflation. By contract, the interest rate on these types of loans will go up in sync with the official government rate of inflation as far and as quickly as the contract allows. These are the loans that you must convert to fixed rate immediately, or pay of as fast as you can now, before the official rate of inflation starts to soar.
Luckily for those with variable rate loans, the “official Rate” of inflation is much lower than the actual rate of inflation is currently (1% versus close to 10% actual). This is due to the government changing the way that the rate of inflation is calculated to make it look like the economy isn’t going down the tubes.
Based on the way it was calculated by the government up until 1990, our current rate of inflation is actually close to 10%. Go to http://www.shadowstats.com for a more detailed explanation of how the government has been adjusting how it computes the rate of inflation, the US debt, etc. to hide the realities of the current Depression and the ongoing, massive devaluation of the dollar.
November 22nd, 2010 at 12:13 pmJan’s comment of “don’t be sure they can’t index your debt to the rate of inflation”. Is correct.
If they re-issue a new devalued currency, say on December 5th 2010, you will pay your old debt with new dollars via a exchange rate from that date forward.
Remember the system is rigged, without Jesus only the evil people win in this world.
Jesus is our only hope, Repent!
November 22nd, 2010 at 3:55 pmIf things get so bad that silver coins become a substitute currency, then there won’t be any food to buy–that’s why you are preparing and buying food at the Ready Store!
November 22nd, 2010 at 4:02 pmThanks for sharing this preparedness advice. With the Govt. spending it seems inevitable that high inflation and less spending power will be available. Having a food storage program in place will help weather the coming storm.
November 22nd, 2010 at 5:30 pmWe are not printing money off of nothing.Obama went to India to barrow $600 Billion that America will never be able to pay back.That just means more of our freedon we will have to give up to please Indians that will be coming over here by the boat loads to take our jobs.
In other words we are still screwed.Obama is selling us out.I know what he used to trade.1,200 Billion in food.We just ship over grains for the next 20 years,and give up some land,and what ever he can threw in to sweeten the deal.
November 22nd, 2010 at 6:59 pmWho will be getting this $600 Billion?The banks.We will not see 1 dime of it.The banks will soak it all up.
I have to agree with most of this, but what is being left out is being able to produce your own consumables for the long run and keep what you have from those who will want to take it away. Most importantly, trust in GOD.
November 22nd, 2010 at 10:42 pmSomething I noticed that was conspicuously lacking, except for Sissy’s comment was that we need to be prepared to defend against those who haven’t prepared. It sounds i little ugly, but when your neighbors or just people scrounging around realize your family has basic necessities, some WILL try to take it by force or sneak……not to mention Uncle Sams sticky fingered thugs. Be ready for that, too.
November 23rd, 2010 at 3:07 amSome of you may be too young to remember the early to mid 80′s, but we did have hyperinflation, 16% mortgages, 18% CD’s, and Gold Bugs, look up Howard Ruff, predicted that gold would go to $2000 an ounce,at the time of that BS, gold went from $180 an ounce to over $800 an ounce. Those became self fullfilling prophesies, but the feds finally got a handle on the problems of the day, and gold fell back to less than $200 an ounce, so those who bought at the high, had to wait over 25 YEARS, to break even or take a loss, in the meantime, the money they had put into gold could have earned an average of 9% a year in those 25 years they wasted on fearmongering. Also, in the late 80′s over 2100 savings and loans failed due to overpriced, hyped up real estate, and that started in Dallas, and spread to the rest of the country, sound familiar ? Those that do not learn from history are doomed to repeat it. Food, guns,ammo, water, toilet paper and soap are the main souces of barter if the whole shooting match goes down. It may also be helpfull to teach your kids how to live with things like books, so knowledge will not be lost to history, if the net goes down, and they run out of batteries. Just some food for thought…
November 23rd, 2010 at 1:44 pmI’m a new widow – I have some savings in CD’s, but a lot of years ahead of me. I’ve bought a year’s worth of entrees. I’m starting to store water. I have faith in God. My family thinks I’m off my rocker doing this. I know I need to prepare. I’m thinking of a wood stove – I have a gas vermont casting. What do you suggest?
November 24th, 2010 at 7:38 amMark and Delta are correct about inflation favoring debtors. That’s if you’ve got more dollars coming in. What if you’ve lost your job? Get out of debt.
November 24th, 2010 at 12:25 pmIf the poop hits the fan, does anyone have an educated guess on when this will all go down? I’m getting prepared and security is my #1 point of focus. #2 food and water.
November 25th, 2010 at 4:33 amWhat is the huge percentage of people living below the poverty line right now? What is the huge percentage of people just above that line? It sounds to me like we are heading for lots of trouble. What would you do if you could not afford any food? Do you have a wife and children? I am getting guns and ammo stocked. It may sound crazy but I really want to protect what I have and my family from the very desperite. I will share what I can to help anyone but I will try to keep those away who want to take it. There will be a lot of them. Then comes the food and water, I am still looking for the best idea when it comes to food and water. Someone give me ideas on what exactly I should get. I want seeds to plant a garden, because I plan on heading to the hills if things get really bad. God Bless all of you and pray for our government that they will make godly decisions and set this great country on the right track and keep it out of the hands of people like Soros and the rest. Please send ideas. Thanks
I am not storing weapons or ammo because I believe God is preparing refuges for all believers and when it comes to that point, we will be shown where to go for protection. I definitely believe we should all have a one year supply of food on hand and the Mormons have always done so but now it seems we should all follow suit!
November 28th, 2010 at 8:27 amquestion for you all. during katrina, did you see any people bartering with gold or silver? or did you see people with water, food or fuel getting whatever they wanted? gold (or silver) hasn’t actually been used for money since about the time of the Romans… personally, i want to be able to use all of my available income to deal with emergencies and not need to pay debts!!!
December 23rd, 2010 at 8:49 pmFirst, guns and groceries will always be currency. It just depends if you or someone else is using it, and for whose benefit. In Katrina they confiscated all the guns from registered owners, which is why the looting was so bad as only the criminals had guns. Second, The dollar WILL fail because of the extreme amount in world circulation and getting worse. All world currencies are declining in value so we can end up with a one-world currency (sound familiar Christians). It is always about control. So what is this currency? The Visa. It is already excepted worldwide as cash, has an immediate exchange rate, and is digitized (just like our bailout of the European economies). Digitization doesn’t care about hyper-inflation. Further, for Christians we are commanded/wisdom to solve Rev 13:16-18. Here is MY theory: The only thing that the Apostle John knew that translates into the future is his knowledge of languages (Acts), like Romans, Babylonian, etc. So when he saw VI, S, and A he saw the Roman numeral for six, and the Babylonian symbol which looks like an S or a lightning bolt. Unfortunately I have researched and can’t find the ‘A’ YET. Just a theory. Lastly, for those that believe Jesus will bring you home, He will, but why ignore his words for preparation (Luke 14:28+). Better have it and not need it than the contrary. We are the first American generation in history to be marked by not having a pantry. Sheer foolishness regardless if I’m right or not. My advice … Seek wisdom above all else. For you non-Christians, seriously, don’t you feel an emptiness or void? Ready Store, love you guys!!!
January 3rd, 2011 at 10:17 amme and megan are bouncing in my bounce house!
February 10th, 2011 at 5:42 am