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The global financial system is in chaos. This is not new as this has been the situation. For over 100 years at least. Since the various nations ditched the gold standard and started pegging their currency’s value to nothing it has been chaotic.

Pegging currency values to artificially generated supply and demand is in reality pegging to nothing. Who decides the base value?  How is the authenticity of the supply and demand determined?

Based on what currently transpires as a currency marketplace, everything is manipulated to achieve a pre-agreed value.

To make matters worse nobody has money and everything is financed through deficit financing in various countries.

If you go to a bank to borrow money with no agreement on when to pay the money back and never pay any of it but borrow more money every year and are unable to even pay the interest but have to borrow more to pay the interest that is what deficit financing looks like.

It is giving a loan to a borrower that can never pay it back or even pay the interest i.e. it is a deliberate bad loan. No bank can survive giving out such loans both the lender and the borrower will go down in flames.

Now take this to the national level, it is like conjuring money out of thin air as both lenders and borrowers are in the same boat.

The worst part is that the days when there was actual borrowing taking place have since passed away. Nations are not really borrowing from anywhere now. They use their central banks to raise bonds from thin air and sell them to their businesses. These businesses use money generated from the government through grants, contracts, and so on to buy these instruments. The nations also borrow from money set aside for things like retirement and health entitlements. Some of the money borrowed is not even a pretext but adding zeros to numbers.     

Simply put we are in a state of global poverty but have chosen to define poverty as wealth. Consequently, the more debt you have, the richer you are.

Seeing that the global economy is a bubble that can burst at any time, how does one protect one’s personal finance in all this chaos? The answer is not simple as everyone has been spoilt by deficit financing.

Here are a few tips

  1. Keep to liquid assets that can easily be converted to cash
  2. Before speculating make sure you have enough money in money market instruments that can see you and your family through for 6 months to one year so the shock of adjusting to a global collapse is not too overwhelming. It gives you time to effect a gradual downsizing of your life.
  3. The collapse is certain as deficit financing cannot survive. It is like building a house without a foundation. Its collapse is certain.
  4. Do not be fooled by the stock market. It is based on an illusion and not on reality.
  5. Always make sure you have extra groceries at home to feed your family.
  6. Learn to live without excesses
  7. Learn to give to others around you so everyone has a little bit extra. If you are the only one who has then it will be more difficult to survive.
  8. Do not stay in ignorance. Know what is going on and do not depend on political fairytales
  9. Take a look at the user manual we are given for successfully dwelling here on earth that we call the Scriptures. It was given to us by our Maker to help us. It tells us how we got to this point (hint – humans rebelled against all the constraints provided in nature to keep us on a sustainable path).
  10. Anything else you can come up with

This is where I will stop. I hope I have been of help.

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