Thursday, March 19, 2020

Preparedness Secrets of the Ultra-Wealthy

By Timothy Gamble (May 28, 2019)

Think what you will about the morality of the ultra-wealthy, but they tend to be financially- and politically-astute individuals who are highly "plugged in" to current events and trends, both nationally and internationally. I suggest, therefore, that it would be  good idea to be aware of their concerns and preparations, as doing so may reveal clues to our future. 

What the Ultra-Wealthy Are Expecting

Conspiracy theories aside, it has been well reported even in the mainstream media that many of the ultra-wealthy are preparing for major economic, political, and military problems, and even "the crackup of civilization" as a recent article in the New Yorker magazine put it. Many of the ultra-wealthy aren't just concerned about another recession (which are cyclical and the next one is a little overdue), but are expecting economic doomsday, political collapse, and even the death of Western Civilization, at some point within their lifetime. 
"Some of the wealthiest people in America—in Silicon Valley, New York, and beyond—are getting ready for the crackup of civilization." - New Yorker, 1-30-2017
The ultra-wealthy realize that the welfare state, the model of current Western Civilization, is simply unsustainable over the long term (though most publicly support the welfare state and socialism, an incongruity I am unable to explain). They realize that the global debt bomb, as it is called by financial reporter Paul Farrell, that has been created by massive government debt is now so large that it cannot be paid off by increased taxes or economic growth. 

Total world debt is estimated at about $60 trillion dollars, and this is just government debt. Add private debt (credit cards, student loans, mortgages, etc.) and business debt, and the total worldwide debt bomb is about $230 trillion. 

What the Ultra-Wealthy Are Doing To Prepare

Before his death in 2012, hedge fund manager Barton Biggs, considered one of the world's top global investment strategists, advised his clients to expect the "possibility of a breakdown of the civilized infrastructure". His advice: Make tons of money. Buy an isolated farm in the mountains. Protect your family against the barbarians.
"Your safe haven must be self-sufficient and capable of growing some kind of food ... It should be well-stocked with seed, fertilizer, canned food, wine, medicine, clothes, etc. Think Swiss Family Robinson." -- Barton Biggs
Please realize that this isn't advice from some survivalist guru to militia-type folks. Instead, this is advice from a respected hedge fund manager and financial insider, to his ultra-wealthy clients.

The ultra-wealthy, realizing that an economic collapse is inevitable (only the timing is uncertain), are making as much money as they can right now, often using short term tactics (and creating a frothy stock market in the process), and reinvesting that money into hard assets such as productive land, gold, silver, agricultural and other commodities, as a protection against future collapse. In short, they have become preppers.

There are two ways to look at this advice: 1) the ultra-wealthy are selfish, greedy scumbags who are trying to take advantage of dire situations to their benefit; or 2) the ultra-wealthy see what is coming, realize there is nothing that can be done at this point to stop it, and are simply doing whatever it takes to protect themselves and their families. Greedy, honorable or both - you decide.

What This Mean For Regular Folks

Regular folks, who don't have billions or even millions in extra cash, can still follow this advice on a smaller scale:
  • Maximize your income during the "good times" we are currently experiencing
  • Buy an isolated retreat or bug-out location (think productive land, adequate rainfall, good growing season, and relatively sparse population)
  • Develop it in terms of productivity (plant fruit & nut trees, create garden space, build a greenhouse, install an off-grid well or water system, etc.) and security (fences, gates, security doors, etc.)
  • Stock up  on food, water, and other supplies (medical, first aid, seeds, tools, etc.)
  • Buy guns & ammo - learn to shoot - take defensive shooting courses
  • Learn first aid and other useful skills
  • Prepare yourself and your family physically (health & fitness) and mentally (deal now with any addictions & mental health issues, develop your relationship with God)

The Bottom Line:  The ultra-wealthy are in a position to know what is coming, and they are preparing for something major. We should be, too.
Of Interest:

Going Galt: Surviving Economic Armageddon

Going Galt: Survival Gardening - Sustainable High Yield Gardening


*** Liked this article? Never miss out on future articles by following Dystopian Survival

No comments:

Post a Comment

Comments are posted without moderation. Use caution when following links, and beware of SPAM and fake links. Please keep discussions civil and on-topic. NOTE: Certain ad-blockers and other security software installed on your browser may block the ability to leave comments on this website. This issue is with that software, not this website.