Gold is on the rise. Is Karatbars ahead of the game?
There is nothing like watching the value of your savings diminish even as you work to increase the amount in the vault. What can a person do about that. You work. You earn. You are taxed. You spend. Possibly you tithe. What is left? Whatever it is, THAT is what you might save. Unless you are wiser than the average working person.
Prosperity Practice: Pay God and yourself first. All others come later in the line-up.
If there is anything to be learned from reading it is wisdom.
One of the wisest ideas I have ever come across in all of my reading is the directive found in "The Richest Man in Babylon" by George Samuel Clason. The directive is this:
"" 'A part of all you earn is yours to keep. It should be not less than a tenth no matter how little you earn. It can be as much more as you can afford. Pay yourself first. Do not buy from the clothes-maker and the sandal-maker more than you can pay out of the rest and still have enough for food and charity and penance to the gods.
" 'Wealth, like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the sooner may you bask in contentment beneath its shade.' "
This is a wisdom that cannot easily be countered. The only argument against it is, to my mind, the argument of inflation. Those who have experienced it in the last couple decades in Yugoslavia and Argentina and Zimbabwe, for example, found that the first thing they needed to do before anything was to take their pay to the grocery store to buy their sustenance needs before the prices rose any further that day. What, with inflation on the rise as it was, a loaf of bread would rise from $1,200 (speaking in USD terms) to $1,800 or more during the course of the day, and that would happen daily. No joke. Certainly you have seen these pictures:
|Big bill. Big amount. Very little buying power.|
|Handful of bills for sale. Price for the wad? $5 US or a T-shirt.|
When such inflation becomes rampant the paper is disposed of as rapidly as possible, exchanged for something of real, useable value such as stale bread or a used T-shirt, anything.
What will the wise person do with paper currency before such a time happens? S/he will do exactly what a wise person does WHEN such inflation occurs.
My question is: what will you do now? I have a suggestion: convert ALL your savings into commodities you use on a daily basis. That includes fuel, extra needed clothes that wear out or otherwise need to be replaced regularly such as stockings, underwear, work clothes. Also, long keeping food stuffs and condiments and properly stored cooking oil. Remember the cooking oil and condiments. Plain grains, beans and rice becomes a tiresome meal without seasonings.
Also remember to store canned or dried meats and cheeses. I would not recommend Spam, personally, although I do remember enjoying fried Spam for breakfast when I was a boy. There are canned hams, corned beef and other meats available that keep for years in a cool storage place. Also there are rounds of cheese preserved in wax that will keep for long periods, even a couple of years. These do need to be rotated.
I must go but will give some other suggestions tomorrow plus I'll give you the names of 21 nations that experienced economy collapsing inflation within just the last 25 years! That was a shock when I learned this little tidbit.
I'll keep you posted.