I recently read this – that there are 3 main types of wealth – and that the current system is veering from contracting primary (real) sources of wealth and expanding towards the type of wealth which is (are) only claims on the ‘real thing’.
Primary wealth which consists of real productive things such as oil wells, productive farmland, fisheries, mines, etc.
There is secondary wealth which are the byproducts of primary wealth such as oil, fish, the commodities which come from mines.
THIRD ORDER WEALTH
Lastly, there is the type of wealth which is simply a claim on the first two types of wealth. Things such as stocks, bonds, etc.
I read about the notion of these three types of wealth from Chris Martenson of PeakProsperity.com, and I agree with his general opinion.
I will point out that we’re talking about material wealth here, whereas an even higher notion would encompass the state-of-mind, one’s emotional and spiritual happiness and one’s own sense and definition of worth – which is different for many people.
Having said that, with regards to the value of material wealth, Martenson is right on. The system has definitely shifted (for the majority) to 3rd-order wealth – the stock market, paper currency, bonds, notes, debt, loans, the illusion of real wealth.
I believe that one of the differences for many of the prepper-minded folks out there (compared to the mainstream) is that they are securing for themselves more primary and secondary wealth (the real thing) than 3rd-order (phony) wealth. Maybe not oil fields 😉 , but certainly the practical physical assets which contribute towards one’s own ability to live, to produce, to self-sustain, the things which will hold value through a crisis or collapse…
If you’re not doing this yet, you better get started…
When the current system collapses (or continues it’s devaluing grind to the bottom), your 3rd-order wealth will go down with it. You will be left with less (or nothing).
Get into tangibles. The real thing…
What do you think?