Three Steps how to Prepare for when it does Come!
An article by Corcorda on Medium titled The Elites Have Set the Stage For the Greatest Economic Crisis In History states a great point about not trusting the stock market and national economies because of the devaluing of constant money printing.
With over-printed currencies, government overspending, and ultra-low interest rates, there is little that we as consumers and investors can do to stop the next market bubble from bursting (again!).
The advice that Corcorda gives is good but I believe there is more. How do you know which investment to put your money towards to not be wiped out by the next crash?
For some, this answer is easy. But, for those that aren’t as experienced in the stock market or investing overall, this can be a daunting decision to make.
Where do investors go to preserve capital?
Another Medium article was written by Tim Denning entitled You Are Being Lied to About Inflation. It Hasn’t Been 2% for 30 Years (Here’s Proof) talks about a store of value. Placing your investment returns in a store of value is the best way to preserve your capital when an economic catastrophe happens. And, you have about 10 years, plus or minus, to build up your store before the next correction.
I bought gold when it was $300 per ounce. I was laughed at by stockbrokers and amateur investors alike. Why buy something that has no value, they would ask between taking breaths from laughing. I would tell them that you have to buy low to sell high. But, when gold started to slowly rise, I knew I was on the right track. As it turned out, I was right more often than I was wrong!
I used this as an investment to earn returns, not as a store of value. Now, I regret that I didn’t. However, the best time to start is now!
So, how do you start?
Should you buy Bitcoin? Should you invest in Dollars or Euros or Pounds? How about real estate or precious metals?
First of all, there is disagreement about whether bitcoin is a store of value or not. It is a fiat currency (meaning that they aren’t backed by anything other than a promise) like government-backed currencies. But unlike government-backed currencies, Bitcoin isn’t producing any more coins. I would recommend that you can use it as a speculative investment to gain an advantage…