Best Inflation Resistant Assets To Buy Before It Gets Worse
Given the economic forecast, what are the best things to buy before inflation (or hyperinflation)?
I just read an article this morning, warning of a big jump in inflation.
Last week, when discussing the latest earnings call commentary, Bank of America said “Buckle up! Inflation is here”, and showed a chart of the number of mentions of “inflation” during earnings calls which exploded, more than tripling YoY per company so far, the and the biggest jump in history since BofA started keeping records in 2004.~ BofA: “Transitory Hyperinflation Ahead”
Inflation is Here
Many of us know full well that inflation is already here, and has been here.
Although it is being hidden as best they can, most everyone is awake to the fact that prices are going up, and way up.
Inflation is pretty much a built-in part of our current economic system. Every dollar that comes into existence is borrowed – eventually leading up to the ‘Federal Reserve’ – a private entity which collects interest on ALL U.S. dollars.
Since more dollars are always coming into the system (the present system would actually collapse without this) there is a sort of built-in inflation. For various and sometimes complicated reasons, some periods of our history (and no doubt our future) involve even higher inflation (than ‘normal’).
Inflation Erodes Purchasing Power Of The Dollar
The effects of inflation include a more rapid erosion of the dollar’s value, or purchasing power, while the resulting prices of things go higher and higher.
The Federal Reserve tries to control inflation (the devaluation of the dollar) in context with the economics of the times. One might say that they are actually manipulating it. Which they are.
Because there is SO MUCH debt now (everywhere), ‘they’ have to keep interest rates (the price of borrowing money) and inflation under especially tight control or else the whole thing goes bankrupt (debt defaults?).
In fact rates have been lowered all around the world to near zero (and negative!). Why? To keep the charade going – to keep the borrowing going – propping it all up. Blowing more ‘air’ into the gigantic bubble…
The question is how long will they be able to control it all, given the gargantuan debt? How long will others buy our debt when rates are essentially (almost) zero here right now? “Full faith and credit” and all that? Ya-right…
Most of you are aware of the MASSIVE government spending we’re seeing. This WILL have an affect on all of us. So what do we do?
The Party Is Almost Over – Say Hello To Inflation
I am not an economist. This is not financial advice. Rather it’s an observation of what I feel is inevitable. The party’s (almost) over. So how do we position ourselves, just in case?
The system was seemingly ready to collapse before the Wuhan virus hit. But since then, we all know what has happened up until now.
Real unemployment in the US is around 25.7% as of this post date. I say “real” because that’s the number according to the way they used to quantify unemployment. John Williams of shadowstat.com keeps track.
‘Main street’ small and mediums size businesses have been, and are, mostly crushed. Many small to mid size businesses are largely damaged or gone.
TRILLIONS upon TRILLIONS have been, and still are, being thrown at the problem. Of course this is all a temporary band-aid to a wound that’s going to require more than a band-aid. TRILLIONS MORE will be spent soon. Shortages are becoming commonplace. Prices for these these things (and other things) are going up .
If you’re holding cash, it’s going to be worth less – perhaps much less in the future as buying power diminishes. So again, what to do? What are the things to buy before inflation?
What Things To Buy Before Inflation or Hyperinflation Gets Worse?
Inflation Resistant Assets
Okay, so, back to the question at hand. If we were to anticipate that at some point in our future real noticeable inflation will kick in, then the prices for many, most, or all goods will likely go up, and up, and up.
So what are the things, the assets, the goods, the products that might be better to get your hands on now, before inflation might go higher or get out of control?
What are the assets that are inflation-proof or inflation-resistant in the context of preparedness and/or financial preparedness?
I’m not suggesting that you go out and start a shopping spree. But it makes for good discussion to hypothesize the practical assets that might be good to have (or invest in) before any onset of real bad inflation (currency devaluation)…
>>This is not financial advice
Financial Investment Assets – things to buy before inflation
In no particular order of perceived importance…
- Gold and Silver
- Get out of debt loans that are tied to interest rates
- Inflation resistant Stocks / ETF’s (which?)
- Food (any and all)
- Land (productive farm land, or just about any land)
“Land has always provided wealth for kings, dukes and barons for thousands of years.”
“If you have an adjustable rate ARM mortgage, now is the time to convert it to a fixed rate.”
“The obvious (financial) assets are gold and silver. They are real money that will maintain value through bad economic times.”
Preparedness-oriented Assets – things to buy before inflation
- Plant food producing trees, etc..
- Seeds, heirloom (in other words, grow some of your own food)
- Firearms & Ammo (good luck with that these days…)(/sarcasm)
- Home Canning equipment
- Food preservation equipment (any)
- Everyday consumables
- Work boots and heavy-duty work clothes
- Alternative energy source or sources
“Security, shelter, water, food, communication. Prepper’s priority list.”
“Wishing one had a pair of work boots or gloves after the money has run out is not the time to start thinking about it.”
Note: With the presumption of inflation, we might simply say that EVERYTHING will go up in price, so this list could essentially include ‘everything’. However I’m curious about what might be especially prudent to acquire, or invest in, before hypothetically high inflation sets in. Hyperinflation is always a possibility too. In other words, might some ‘things’, assets, etc.. go up higher than others and which of them might be a better ‘investment’ now rather than later?
There are lots of great comments below. This post has been updated to reflect today’s headlines, such as “Transitory Hyperinflation Ahead”. They are warning us. So you might want to listen…
The obvious assets are gold and silver. They are real money that will maintain value through the bad economic times.
The less obvious assets are the things you will actually need in the event of hyper-inflation or any other disaster – food, weapons, and barter items.
The even less obvious “assets” are survival skills – how to grow food, how to repair the house and appliances, how to fix cars, how to make hooch. Basically any skill that enables you to take care of your family, or produce extra income to support the family, will only increase in value as times get tough.
Couldn’t agree more with you Bobcat. Skills are the real thing-can’t be confiscated or stolen, weights nothing and will produce assets (honey and wax for a beekeeper or fresh produces for a gardener etc.)for life. Goods can be lost, stolen or just be used-up over time.
Can’t agree more that skills will be important. You can trade nursing (especially if you have low-tech medical books and equipment), gun-smithing and reloading (have equipment and supplies on hand), construction, tool and knife sharpening or repair, gardening or farming, husbandry, foraging, hunting, cooking, sewing, or just a strong back for other commodities.
Good Productive Farm Land
Land has always provided wealth for kings, dukes and barrons for thousands of years.
A good piece of property with good security, well water, low population and the ability to grow food, raise animals for consumption and a conservative population with a small intrusive county and state government. Becoming very rare.”Sounds like Shangri-la”.
A well built, secured home with alternative heating and electrical generating ability.
Light bulbs, filters, gas, propane, diesel or anything necessary to maintain must have items like auto mobiles, gardens, work clothes, generators, etc.
Stay healthy and fit since medical cost will only rise.
Medicine, first aid supplies, prescription glasses or any other life sustaining needs that can be stored.
If high inflation occurs the basics such as food, shelter, taxes, medical needs will take priority over other needs. Wishing one had a pair of work boots or gloves after the money has run out is not the time to start thinking about it.
The best return on investment can be found in SEEDS, land to grow the food on, and the knowledge of how to grow the food, preserve the food, and save seeds for the next growing season. I’ve been working on this for the past 8 years and feel pretty secure in the fact that I grow enough food to keep myself alive.
Goatlover, I am with you. Seed-saving and feeding ourselves will be the difference between survival or Fema camps, I think. This year I am planning my garden differently, going for more carbs and calories, deep dark, heavy nutritious greens, more winter squashes (they keep well, especially the Lakota), and more beans for drying. Seed-saving is quite easy if you let your plants mature enough to harvest ripe seeds. So gratifying too.
I like your idea. I’m sure it will work. But for me and the other Urban dwellers like me who have no idea where frozen chicken comes from or tell the difference between a heifer a cow and a bull, … well, we have a mindset that inflation here in the US is not prepping for the end of social order. So our first priority is to protect our “cash” and liquid assets by probably converting or moving our investments to Inflation Index securities i.e. Series US savings bond or TIPS (Treasury Inflation Protected Securities). Some will probably move their investments to ETF heavy on Utility Companies or related companies as well as food production companies as well as ETF heavy on real estate. I remember the early 1980s when inflation caused the Banks to offer CDs with as much as 15.25% renewable every 6 moths! I was young then and thought that was great so I moved my liquid assets to Bank’s CD.. That was a mistake because the inflation was more than 15% for for the duration of at least 2 years. Computing what I made in CDs vs. the Consumer Price Index, I actually came short at least 7%.
Get out of debt! Invest in an acre or two of land, buy some seeds, and grains, canning equipment like pressure canner, water bath canner, stock pots, quart and pint jars and lids, gardening hand tools, firearms and ammo.
A bushel of wheat weighs 60 pounds and costs today about 8 or 9 dollars from the farmer. A sealed bucket of wheat is only 40 pounds but costs $40.00 to $70.00 depending on where you get it (since a bucket of wheat is only 2/3 of a bushel that weight differential puts a bushel of wheat costing $53 – $93 in a bucket.)
The second best investment I ever made was back around 1999-2000 when I bought about 5,000 pounds of mixed grains (buckets of 7-grain mix, hard red wheat, barley, oats, corn, rye etc… but mostly wheat). At that time I paid about $12.00 to $15.00 a bucket when wheat was about $3.50 a bushel from the farmer. I could not afford to buy that same grain today in buckets since it costs nearly five times or more than what it did then. The cheapest I ever paid was back in 1995 for several bushels from a farmer down the road. It was soft red wheat and cost me $2.25 a bushel. The down side of this was that I had to winnow all the dirt and garbage out of the wheat and put it up in jars myself. I still have a couple cases today.
Canning equipment is a long term investment since most of it will last a life-time and it is not getting any cheaper.
Gardening hand tools, seeds, guns and ammo should be self explanatory.
A lot of folks say buy gold and silver. This is a delicate but explosive and arguable topic but never-the-less, there is some historical credence to that assertion, but only in a broad sense and only for those that are in control of the money system.
Even if gold and silver were used as legal tender, but in today’s America it isn’t and because of that I don’t see gold and silver as a viable investment for the lowly commoner like myself. The people who have a monopoly on gold and silver can just as easily deem it unlawful to own or use anytime they want. Plus, I have a problem paying $1,400.00 for something with a face value of $20.00 or $50.00. When the price of gold and silver comes down to be more in line with the face value of the coins then I might consider it.
If America were to ever go back to an honest money system, then I might consider it. While I do have a small stash of gold and silver eagles and a bag or two of silver dollars, I’ll be damned if I’m going to spend them on something of lesser value from what I paid for them. What for example, pay 15 silver dollars for a $15.00 bottle of wine when the silver dollars collectively cost me nearly $300.00? I don’t think so… I know that example is kind of absurd but it should get the point across. The store owner would laugh me out of the store if I expected $300.00 worth of goods and services for $15.00 face value coins, regardless of their intrinsic value at the time. He’d most likely call the cops and then laugh as I was being tased and beaten on the way out of the store.
Good post, but you’re way off on gold/silver. Unless we get to a COMPLETE breakdown, there will be a need for money. Gold and silver will be used because they meet all the conditions of money. They will not be used at face value, but will find a level as people make sense of the world around them. For example, in Venezeula right now, a one ounce American silver eagle coin is going to buy enough food to sustain a couple of people for a month. It’s only a “dollar” but people recognize the value.
Interesting; I’m planning on retiring in a little over a year and have been massaging this exact question.
Remembering you asked; “So what are the things, the assets, the goods, the products that might be better to get your hands on now”
Goods/Products; My simple answer is this; make a list of the everyday things/consumables you use (everything you use), most of us have done this, and fill, fill, fill OVER FILL the Deep Pantry with these items, the cost and availability of some/most will continue to rise, or the supply ‘may’ dry up on some. And for crying out loud, do NOT forget the TP & Gin LOL
Assets; are NOT consumables (stuff we use), things like Gold/Silver and Land are assets that will rise in cost and continue to do so, Money in the bank, a savings account, cash are not assets. Although I don’t like Gold and Silver, I do agree ‘some’ is a good idea. As far as land/home in my 50+ years of buying/selling I have never lost money on those “investments”. So if you do NOT own a hunk of dirt, ya might look into it, “they” are not making any more dirt and the price WILL always grow.
Skills are not an Asset in the sense of ‘cash’/inflation; but a must know if one wants to fight inflation with “doing it myself” skills are a must, I will agree with the proper skills one can cut down the “cost” one pays and charge others for their skills, but I will argue that skills are not a tangible asset BUT are assets for sure
Unfortunately there are some “items” that we cannot “stockpile for inflation, Taxes, Insurance, Haircuts, ETC. will continue to rise forever, the hard part is to plan for those….
Do they still make flowbees? haha
hook it up to yer generator and you’re set!
Just looked it would seem they still do!
I’ve noticed a sharp increase lately in FD foods. Maybe it’s just supply and demand now that the left is starting to panic. But one Augason item we enjoy went from $34 to $57 in a year. Given their long shelf life, that would be a good inflation hedge.
What about refrigerant? People in the dead of summer will do almost anything to get the AC working again. Thanks to the low-functioning trash at the EPA, a jug of R-22 is going for >$500 now, R-12 for $700, if you can find it. Even R-134a is highly restricted here in Cali requiring a $15 deposit on each 12 ounce can. Then there is all the new-fangled azeotropes like 410a and 404a. You can’t just top-up a leak, it all has to be removed and weighed in with virgin refrigerant. And even those new ones are on a short list for replacement. The stuff keeps forever. Bans and regulations seem to change yearly.
Also propane! My fuel of choice, especially here in LaLa land where our boutique-blended gasoline goes rancid in 90 days and eats non-metallic engine parts. Propane is great, stores forever, not messy, easy to stack on a shelf.
+1 on R22. Banned from manufacture and import as of this year. Only reclaimed is available. Even if you dont have the skills to recharge your system, it would be nice to have on hand incase you have a small leak repaired, and wont have to pay the huge premium for refrigerant after the tech does the repair.
As I started reading your post, I thought you were going to say the skills to barter successfully. Which would include reading body language, etc..
I’m kind of on the fence about gold and silver. In that it is only worth what someone else is willing to give you for it. And you cannot eat gold.
When I got my FD or DH food on sale it was a little more expensive than fresh back in 2010, but cost me 25% less than fresh, 6 years later. It is inflation proof after a few years in the 3 to 20 year term storage.
Growing your own home garden with heirloom seeds used generations after the first investment of seeds or wild gathered food is inflation proof since there is no price on it.
Salvaging in junk piles and finding free giveaways are inflation proof. I got board lumber, my computer, crabapples, apples, squash, electrical wiring, nails, and fix up furniture/cabinets this way for free.
Libraries are free for borrowing books on survival, gardening, homesteading, etc.. Just don’t be late turning in books. Fines probably will be inflated year after year. Getting info on the internet still costs for internet service, always inflationary.
Water can be non-inflationary if it comes from a spring or a hand pump well. I’m lucky to have an artesian well nearby–free fresh water.
Land can be inflationary or deflationary, so I don’t count it as I have seen with Detroit, farmland, and even my own property yo-yoing all over the place in assessments over the last few years. I think it has to do with banks lending practices, the economy, and the demand.
@Ken: You know, of course that when a 12 volt battery drops below a certain SOC that the solid-state chargers won’t even turn on. I wonder how many million of tons of otherwise salvageable lead-acid batteries will end up discarded into the environment… Yay progess!
Oh yes… our “Agricultural Checkpoints”. Who are those clowns in the official-looking costumes? What has been their purpose since the med-fly scare thirty years ago? A few years ago I found myself being grilled, Nazi-style by one of those checkpoint fools. I maintained that it was none of his business “where I was coming from?” Things got a bit heated. But he backed down real quick when I mentioned unlawful detention and involvement of real police. Alas, I probably wouldn’t try that with the Federal checkpoint on North 15 in Rainbow. They’ll just disappear a guy. America!
Maybe NRP and Lauren are right. Maybe it’s hopelessly gone.
Rainbow doesn’t cross the 15.
Yes, that was a result of the Porter Ranch leak last year. This happened because an emergency containment valve that failed in **((1979))** was abandoned at the bottom of the well and forgotten about until primary containment failed 35 years later.
In this case gross negligence on the part of Sempra Energy and their predecessors is 100% to blame. Consider that, along with the tragic NG explosion that took out a whole neighborhood in San Bruno a few years ago, and I almost can’t blame the state for handcuffing them.
Stopped clock, twice a day, and all that.
For products to trade, I like the 3 T’s .Tobacco,toilet paper and tampons. Indefinite shelf life and everyone is going to want at least one of those items.
Land and skills. Gold and silver might have value, but only if those you’re trying to pay put the same value on it. Currency is based on trust, not intrinsic value. Precious metals have no intrinsic value, but that’s another argument.
So land, skills, and the ability to restock your assets. Land is for making food and other products that someone might want. In order to have livestock or a garden you must have land. You must also have the skill to grow your food and/or raise livestock, or whatever you use your land for. Sooner or later everything else will be gone.
This is a subject (inflation proof assets) i have been working on for years. These are:
1. Planting fruit trees, peach, plum, blueberry, pear, pecan, apricot – to name a few
2. Planting asparagus, sweet potatoes, garlic, onion
3. Planting grapes, black berries,
4. Raising cows, chickens, ducks, pigs
5. Catfish, perch,
All of these are eaten, self renewable and I do not even have to barter for them. This is my basic plan
Tissue Paper….never goes bad!
Need money? Sell some at a flea market. That stuff has doubled in price!!
Smash them, pack them in a 55-gal drum and close it up!
Sugar, salt, spices in bulk.
Spices 8-years ago where about $2.00 each. Now they are $3.00-$5.00 each.
Diversification is important in investing as well as having priorities to invest in . We will need water,food,clothing and shelter in order to survive . Those would be my first priorities .These needs can probably best be met by owning your own land that can provide you with water and have arable ground to grow your own food. That was our goal.
I suggest investing in work boots and other clothing.Another area is to invest in the equipment to can and preserve food that you will grow in your garden . Another area to invest would be in nails,screws,fencing materials,plumbing parts and a wide variety of hand tools . The list would be different for each of us because we are a diverse group.
Another of our goals is to have enough cash to pay 1 year of property taxes . We also want some cash to use in extreme emergencies.Remember your friendly bank is only open 1/3 of a day 5 days a week and closed on holidays. In a martial law situation cash may be outlawed and replaced by government script .
Gold and silver would be at the end of my priority list . In the 1930’s FDR confiscated gold from American citizens, it can be done again .
The pm confiscation was accomplished because the populaces was rather naive for that era. They truly did believe in their .gov’s, then. All one has to due is read papers from that era. Not stating that everyone was gullible but enough that it was easy to enforce.
@ BLUESMAN and Antique Collector
I will have to restate my position on stockpiling PMs. I think they are a FANTASTIC investment.
Formed Brass and Copper covered Lead is a GREAT investment. Worth 100 times the current investment cost if TSHTF. Even now I have a brick (10-50 round boxes) of 22LRs that I paid $18 for, and they are how much now? IF you can find em…..
Hi when you say cash, are you saying greenback dollars or fiat currency?
They can only confiscate your gold and silver if you let them. Why would you even admit you have any. Precious metals have been used in trade for thousands of years and always will be. Government “cash” is just paper. Backed by nothing.
Lots of great lists already posted. I think of inflation-proof as any asset that will increase in value faster than the rate I could earn interest or other income on that money if it is invested elsewhere. To narrow it down further, the best choices are those things that increase in price faster than average price increases in the economy.
Real Estate (in most places)
Food (including food-bearing plants, trees, seeds and livestock)
Useful Education (formal and informal – including trade school & books)
Alternative energy sources (to combat ever rising utility costs)
Good fishing/hunting equipment
Personal Security items & training
Paying down debt – inflation equals higher interest rates so minimize debt
Equipment that pays for itself with increased output or efficiency that exceeds your investment (planting, harvesting, canning/drying, building/repairs, etc…)
I agree with everyone here, especially about holding land that is productive. The only reason we have any gold or silver is if something happens to the dollar, or the economy crashes, or whatever, and we still have to pay taxes on our land. Thankfully, we are debt-free but there will always be taxes. Also, the first thing that came to my mind as far as tangible goods, is good fencing materials. Come next month, God willing, I am going to town on all the fencing materials we might possibly need for the next few years.
Oh, and add to my list cocoa, coffee, and TP.
Depending on your type of terrain you will be fencing, you can use field & stock fencing(330ft per roll),it is more pliable. What I am looking at for replacement(or addition)is welded/tied 2×4 horse fence(100ft roll).
Field & Stock the best I have found is ‘red brand’, it has been awhile but once upon a time AMERICAN made. Yes, it will cost more $$ but well worth the dollars. Ours fence went through two major HOT fires, and the metal did not degrade like most fencing materials will from extreme temperatures.
Thought would give you a heads up to save $$ by checking out what is on the market before you purchase.
Antique Colllector….My thanks! Great info and will definitely check it all out. Looking to fence off mostly garden and small fruit areas. Aaaand…just want to have it around for the future, if needed.
If you purchase “T” posts buy the 7 1/2 to 8 ft++, and order the heavy duty posts. Also a good “T” post puller, you never know when you will need it for moving things around. Post driver, better have two, and plenty of the “T” post clips(lots of baling wire-jic).
If you like barb wire, keep a couple of rolls on hand jic.(& band-aids lol)it bites all the time–I should know.
Great topic Ken. We like to think that our little piece of heaven on earth will supply us with most of what we need but of course that is a bit of a lie we tell our self. As we age we can do less for our self. And of course we can’t make our own shoes but we can make moccasins, we can’t make our own prescriptions but we can try to learn alternatives, we can’t make our own sugar but we can tap maples. We can’t grow coffee here on the prairies but we can learn to roast wheat or dandelion roots. What I am trying to say is the best thing to invest in is skills & some tools to use with the skills. Of course seeds, & dried foods like rice, beans, wheat will also be very handy. One thing I have noticed that has really inflated in the past couple of years has been canning supplies like jars, & snap lids so I would suggest a stock of them. Even used jars have really shot up in price in our area.
I agree. No one besides a billionaire can cover all the bases for the future and not even these resources are enough (think medical, dental, weather problems, …). I have quite a lot of the needs covered for a few years, but even I get frustrated by all the holes I see for a sustained future unless I can organize the entire community for miles around me. So, unless you can be satisfied with the progress you have made in prepping and fighting inflation/economic problems, you will never be happy. But keep the fight going and have faith and hope.
Gold and silver may be a good barter item,but if they become worthless, they’ll pour into good bullets.I’ll also hammer mine out into useful items.Also lots of toilet paper.Lots.Good trade item.Also need lots for myself.Seeds,yes.Heirloom preferably.Skills,definately an asset.Most posters here seem to have a good handle on things.Good to see.
Its late, and i skimmed the comments.
IMHO – Food and water first. Education and skills. Being a DIY of ALL and not mastering any perfectly – but, enough to “pass” is always a good thing. The more you know, the more you grow, and the more you can take care of self and the ones near you – the better off you’ll be.
Growing food is one thing – preserving is another. Anyone can toss a seed in dirt and water the dirt… knowing what else to add to the dirt is always the educational and skill part. Etc… After your harvest – you must save some… Preservation – educational and skill… Etc. I could go on. We all know Water and Food is the most important… If we don’t hydrate and eat – we can’t continue… I would say Heirloom seeds, salt, and water are the most important, everything else is up to you, and your priorities.
Shelter. But, if 2/3’s of the world were to be gone – there would be plenty of ‘shelter’
Very true, like minded friends is extremely necessary. Many hands make light work and the cost of needed tools can be shared. Also focus on ammunition more than the firearms themselves (if you already have a few needed choices). Firearms will still be around decades after ammunition for them has been depleted.
Great topic – thanks Ken !
we have a trio of like families, 6 adults, all abutting…so we have that covered as well.
total land area of 125ish acres as well…
Didn’t know you could buy skills. maybe I read the question wrong
If not outright buy them , I think in some cases you can spend to acquire skills. Taking classes in everything from self defense to 1st aid, getting shooting lessons and paying to practice at a range or club, buying books such as Back to Basics, even buying foods to practice canning (knowing you may not get it right at first). To me, any of those are inflation fighting investments. :)
Everyone talks about bartering. However, to be SUCCESSFUL at bartering, skills are needed, skills of a salesman, etc.
Skills can be purchased via training classes. Not all training is free!!! If you attend a tactical shooting class or foraging class it will cost money, but you will develop new skills!!!
Agreed, if you have disposable income going to some classes may be the best use of your money. I went to a 3 days beekeeping class this month and next I have a 2 days applied permaculture gardening one. April is bushcrafting etc. After practice makes perfect.
try typing with a kitty laying on your arm which limits your ability to move your hands. Until you have HAD ENOUGH!!! &^%$() cat.lol
oops sorry. Reading down through the discussion column and din’t pay attention -just clicked on reply
Well since you mentioned it, YES, purchasing TP is an inflation fighter, the “cost” of everything (IMHO) will NEVER come down on 99.99% of products we all use.
I truly believe that having a years, or more, worth of “everything” one uses is a GREAT way to fight inflation. FYI, reported inflation rate was 2.5% last year, I feel it was a LOT more but ya know the .gov and their numbers.
Ken asked “Best Assets To Buy That Are Inflation Proof”, in all reality anything you have in your hot little hand is inflation proof, being that you already have it BEFORE the price goes up. SO yes that Deep Pantry’s continence is a fight against inflation, or basically any other “item” you already own before the price goes up. So I will admit Ken hit us with a trick question for sure….. BUT in the meaning of the article, I know we are on the same page.
FYI, money in the bank, ahhhh not so much, TP in the closet ya bet-ya it is.
Not in good times, but they pay dividends in bad times! You only have to look at those who panic bought after Sandy Hook and now those same rifles are sell for half today. Damn Capitalism!!!
Agreed, BUT, those that buy in “panic” should know better, so of course the value will decline.
As for “Not in good times, but they pay dividends in bad times!” I personally feel that those that believe the “Bad Times” are over…. Well good luck, heck even read the MSM about what’s going on in the world, not just our own backyard, frightening. Then add the hyper-inflation we are heading for…. Example the Dow at 20504.45, up 1000+ in less than a month….
I don’t see the threat of the “reset” as being over by any means
Yep, I agree. I think the bad time are upon us or soon will be. The left is far better organized than us and are willing to use violence. They don’t play by the same rules and don’t respect law and order. This is not a time to let down our guard, but double down.
Maybe your posts should be more timely considering major events are going on effecting the entire stability of the US government. By the way US general over Navy seals came out yesterday on NYT and said Washington is in chaos and he hopes it gets under control.
Ken is here to keep everyone in single file. Dont get out of line. You shall only discuss what we say. OBEY. Who funds this site anyway? Intel sources?
Why are you using 3 different screen names , inside, info, & dude from the same IP address?
This is an information site not FB. When this article goes to the archives people looking for it expect it to be on the subject not off on another tangent. It wastes people’s time. Post on the weekend free-for-all. People will see it in discussions and will respond if it merits a response.
BTW, Washington is always in chaos.Always! The only reason you know it is the media are trying to discredit Trump instead of covering up like they did for obama.
Not much has changed but people’s perspective.
And yes, don’t take Ken for a fool… It’s insulting and has no place here.
I am a believer in guns and ammo butt remember that gunpowder is an organic compound that does degrade if not stored properly. (cool and dry storage conditions that do not suffer from extreme temperature fluctuations.) Most important: protect from extreme heat as in a storage shed in Arizona or within a CONEX container in the middle of a desert somewhere.
Both black powder and smokeless will degrade and has a tendency to burn hotter or ignite spontaneously when exposed to temperature extremes. Knowing this, I do the following with my powder, loaded ammunition and reloads: I write the date of the reload or date of purchase on the package or box that contains actual gunpowder and try to use it all within 10 years of purchase.
Knowledge is power so pass it on. These bits of info were obtained from arson investigation reports from cities and towns within Arizona during the 1980’s and 1990’s. Fires caused by presence of large amounts of unstable gunpowder within garages, outbuildings and storage units. All said locations had no air conditioning to help moderate the temperature during hot summer months.
As a fellow Californian I concur with much of what you are saying. The fact is though color or lack of it does contribute to heat gain. As I recall from my art class in junior high, black is all colors combined and white is no colors added. There is a reason that solar water heaters are black, they absorb more heat. I’ve owned cars with black interiors and on a hot summer day you had to open the doors to let the seats cool down before you could sit on them. My wife and I once owned a nice boat with a six inch stipe of blue paint on the fiberglass hull. On a sunny day that part of the hull would get so hot on the inside of the cabin it was uncomfortable to touch.
Point being is if you are storing anything in out buildings that are not climate controlled better to paint them white and put a reflective roof on them. You will have less heat degradation of whatever you are storing in them.
Art colors and light (rays) colors are different. In physics, white light is actually the combination of all colors. When you see something that appears black, it is because it has absorbed all of the color wavelengths. None have been reflected back to your eyes. In this case, the black object is not reflecting any colors. So you are correct in that the energy (light) has been absorbed by an object that appears black. This is the same reason white objects are cooler. They reflect all of the light wavelengths away from the object, which causes it to appear white.
The key to bartering is not immediately needing the item you are bartering for. If you are haggling, say your not paying that much and walk away. They will almost always come back with a lower price. I just got back from Mexico and used this tactic successfully several times. I got a $24 hat for $11. I wanted the hat to keep the sun off during a tour, but I walked away willing to endure the sun. The guy ran after me and offered it for $15. I told him I just wanted a cheap hat and his cheap hats didn’t fit my larger head. I kept walking and he said $11 for the really nice custom hat. This was less than the cheap hats and it’s a great souvenir. I also got a $65 dollar silver pendant for $30. My daughter wanted it, but it was too much. She and my wife left the store to look elsewhere, but I stayed looking at some other things. The guy kept going lower and lower on the pendant. He finally offered $35, and I told him I’d give him $30 cash. He had to go ask his brother if this was ok. The brother said no. I told him I didn’t want it and started to leave. He says, “I guess I can do this if you have cash.” I had them throw in a $45 box of Cuban cigars for $20 too. He saw I was kind of interested in the cigars, but I kept refusing to buy and he kept lowering the price. I finally said I didn’t know if I was allowed to take them through customs and didn’t want to be out the money. He dropped the price again. (I don’t smoke, but my dad will love them). In all, I spent $65 for items marked $145. My wife couldn’t believe it when I caught back up to her. We passed the store later on our way to the tour bus. The guy was hanging is head and looking sad. He says, “Come back into my store and buy something so I can make some money today?”
With purchasing power losses of money monetary assets are the crux of the immediate problem!
This is a general theoretical answer: It helps to put things into two category pairs.
(asset or liability) In the accounting sense and common sense, sense.
Is it also?
(monetary or non-monetary) Is the asset or liability monetary or non-monetary?
Look up the definition of monetary asset. Links are below. (For a learning exercise identify assets that are monetary and non monetary, then do the same for liabilities. Think about it.)
Non monetary assets are good. Examples are tangible things, education, books.
Monetary assets are bad. Examples are cash, accounts receivable, owning a loan of money at low fixed interest rates. Unless, you receive a huger interest payment than monetary purchasing power loss. An example is owning a 1 year loan with 100% interest. But, there is still risk if the interest is fixed and the purchasing power loss goes higher than the interest. If the interest is variable than it is not quite a monetary asset.
Often the contrary can be said for liabilities.
“Best Assets To Buy That Are Inflation Proof?”
Great question! That is an age old question.
Some great answers too!
Inflation proof stocks!
A farm with fixed low interest non callable mortgage. The farm should include all capital equipment spares and supplies stockpiled ahead paid for by said mortgage or loan. All capital must last through the episode because if it is replaced it will be at a higher nominal price. Add a few more farms and rent them? Worked in the Wiemar republic until… Maybe the farm could have finished production facilities also. Factories can do well.
But, in theory landlords could do well. But, in Wiemar the rents were controlled by laws. Yet the real mortgage liabilities evaporated.
Yet, in Argentina the farms were not allowed to export thus their products became price controlled.
This a good time to study this subject again. I look at this chinese flu situation as a test run for the future.We are now experiencing food rationing and shortages as well as shortages in many other products as well. To top it off there are thousands of businesses that are closed , many never to reopen again.
I think the things to buy as a hedge against inflation are things we use or need on a regular basis. The list can be large and cover much more than food items. The list will certainly vary from one person to another. You also need space to save your stuff in. You must determine between a “want’ and a “need”. Is it nice to have or do I really need the item?
I like lists, so wife and I have discussions,determine needs,make lists ,examine the budget and make decisions and move from that point forward. When products get scarce,prices increase and we see that right now especially in food products.
We have a window of opportunity right now and I fear it is slowly closing. If you have the financial means to invest in things that you need ,do it soon.
Interesting repost of a good thought provoking article Ken.
Did a quick reread of the comments, WOW we thought it was bad 3 years ago.
Look see where we are now, and headed in the next year or so.
I still believe consumables are the best way to go, yes TP and Gin. HAHAHA.
Blue said to kick in some additional Dog Food.
A question, how many out there are already seeing higher cost on food goods?
I personally have seen close to 10% on most goods, even more on vegetables and the sorts. Some meats are simply not available so cant say.
NRP & Blue
We were at Walmart yesterday. I was kinda shocked at the rise in prices on the few things I looked at. Hamburger is $350/lb, and scratch and dent stuff was at prices way beyond what I would have paid for it new (this is stuff like boxes of mixes that got smushed).
Interestingly, milk has remained steady in price, or even decreased a little. Canning jars and lids have not increased.
Milk and eggs are generally relatively local–within a couple hundred miles at most. So the prices on those are going to be locally effected.
Also remember that Waldemart will gouge wherever they are legally allowed.
Here is our Report In March 2020 we purchased 40 lbs of Chicken breast for $36
May 2020 We Purchased the Same exact 40lbs of Chicken breast $49 thats a 26.5% increase in one month… get ready folks were in for a bumpy ride…
Here’s another question…
If you have a 401K or IRA, how might you shift your assets (broad asset class suggestions?) to advantage a time of inflation — to protect what you have or perhaps grow it during inflationary times of dollar devaluation?
Remember rule of thumb – not all eggs in one basket – diversify because it may not work out the way you expect…
For those with a slightly higher risk tolerance, a self-directed IRA might be helpful. They’re not for everyone, so do your research.
As, I’m really pessimistic, I’m preparing to invest in a Gold ETF and a S&P ETF that shorts the Market.
Up to this date, since about 2000 I have been 100% invested in residential single family and multifamily residential properties
One could be credit lending institutions such as credit card companies. As inflation increases, the cost of things increase therefore people will stupidly put more money on their credit cards. Therefore they will have higher balances to make monthly payments on.
Example: a $300 purchase one year may be $350 for the same items a year later. And since most people don’t pay off their balance in full each month, they will have a higher rolling balance. Therefore pay interest on a higher balance which will generate greater profit for the credit card companies. This is not even taking into account increased credit card inter est rate which will occur in an inflationary environment.
Just a thought is all..?
Inflation IS interest, paid to the Federal Reserve. Debt is the primary way that new counterfeit money is introduced to the system.
The value of nothing will be safe.
We are headed into uncharted territory re government manipulation of everything.
Assets that may have been considered safe may well prove to be our undoing.
I have never put a lot of faith in predictions or discussions like the future plans like the 2030 or whatever, but you really need to wonder about this crap going on and where it is truly headed.
Governments, in trouble from their past policies, in trouble from this virus and pushed by the government needs to save us crowd will start taking peoples business, property, equipment,
There will be no other choice for them other than theft from industrious and prudent individuals and business.
That will be the spark that lights the fuse.
Think about it,
You live in the country,
You have a huge garden and some acerage,
You have livestock, supplies put back, are largely unaffected by the insanity going on,
These government people coming around to take your swab for their universal testing see this and report back to you,
Next thing you know you have a court order stating that you need to appear before some “local authority” before you can even balk you are ordered to produce food for the “greater good” to give shelter to needy and to be inspected regularly,,,,,,
You going to just roll over and say yes massa????
So tell me again,
Exactly what is a safe asset?
Historically nothing is safe, but we do the best we can. I’d rather prepare and be wrong than stand with my mouth open hoping the .gov has something to put in it.
Where you live has a lot to do with your availability of choices or none at all. S**t happens, and it is how we get through the obstacles of govt overreach through this pandemic and conquer our problems. Some states are more overreach and taxing than others and why people leave.
I know it is devastating for many who cannot get their businesses back, as I had during 2008, I lost 2 of them I had running which left me in poverty, but I pulled myself up and through 10 years. I paid off my debts to the losses. I didn’t file bankruptcy like many other did, I lived like a wildwoman and got a job cleaning S**t out of outhouses that made me vomit, dumping stinky ripe fish guts, etc., to pay the inflationary CCard interest of 18% bearing down on me. You see I did a dumb thing, I borrowed for my businesses. Now I am debt free, and it is survival places like MSB and Dave Ramsey that helped me through the survival of bad times. Lesson learned.
I remember your undesirable jobs just to pay the bills & food on the table. Also the crews that thought you had lost you mind when you offered to help them believe it was gardening or finding wild edibles.
The best one I recall is the tree that went down over the house. You got your chain saw out to start removing it. Believe it became your fire wood for the next season.
Yeah, lol, Funny you remembered. I had a lot of stories to tell, that tree on the roof, and getting down with me sliding off the roof to my doom until the heat from my A** stuck my pants to the edge that kept me from falling off, then composing myself over to the ladder I almost missed. For us ladies, a hot A** is an “As-set” to our feminine ways. Firewood that almost took my A** ended up heating it with the wood stove. 😜
Yes, 2008-2009 was a wake up call I needed. I knew some basics about personal finance but never paid attention to it. As a result I had most of the debts that the average American has. CC debt (on several cards), car loan, mortgage, and student loans (around 100G). Then in 2008 after almost being downsized, I got gazelle intense for the next several years and knocked them all out. I have not carried a CC balance in several years now. If I buy something, I pay in cash or use the CC ( if more convenient) but have the cash on hand to pay the total CC balance.
Ohhhhhhh what a wonderful feeling having no debt. I literally did the debt free scream when that last debt payment was made.
2020 update: Several months into the covid 19 affair:
I am selling one of my 9mm Glock clones to a friend that is raising some beef cattle. The gun will be sold at a discount because he is a friend and I am trading for some beef later this Fall.
I will not be a hermit going into the future as I have been trading finished products, goods and services for other goods and services from other deplorable types that raise vegetables and livestock. Develop an expertise in an area of knowledge and keep those connections open with other like minded folk.
This website is an example of that. There are those that are master gardeners, farmers and those that raise livestock along with those that have a body of deep knowledge in other areas. My area of knowledge comes in handy prior to hunting season.
I admire the Jack-of-all-trades yet now I realize that I have expertise in a few areas that are now in high demand. I suspect most of us are that way.
I moved what I could control to a stable value fund, didn’t lose as much as others but had a steady gain the last few weeks.
Food. I remember collecting any food from the wild and growing a garden for my supper during the last recession years when I was as poor as a church mouse. That was all I ate. I never took food stamps or food bank supplies, and worked some undesirable jobs to make money. I was on dial-up for access to MSB for a long time–the only one in the county. LOL. Because I did this, I saved money to pay off my CC bills and mortgage, and buy a large supply of dehydrated/freeze dried/ canned foods. Perfect conditions to use it now.
Although Ken you are right in getting out of debt, I did it and money now rushes in like a water fall. I am retired now, my assets are used in trading stocks where instead of a bank paying me their “high” yield of 1.5% APR a year, I earn 2 to 4% of my account in as little as 15 minutes. This is where I see ways to fight inflation. Not for most, but works for me.
No more money worries and no more poverty I used to live in, but it took perseverance. I look back on those days as old folks did the great depression. I know what kept them going during those hard times as I believed in the saying that helped me: “There is nothing beyond the reach of determination”.
Back in the 90’s, I bought several CD’s that paid over 5% interest. I used the last of those to pay for college expenses. A couple years ago I had a few extra dollars and looked into CD’s again. What a joke. They paid just a little more than a savings account. So I took that money and bought some Series I savings bonds. One of their features takes into account inflation and adjusts the interest rate. It is still not a lot of money but better than a savings account.
My Daddy always said to buy land, it’s the only thing they ain’t making more of.
Every time you borrow money, some one owns a part of you. You no longer are free.
Slavery in the U.S. didn’t end with the Civil War. Instead of buying humans and caring for them like working stock (mules, oxen), they sold food and housing on credit with the promise they would ” work it off “. The old Tennessee Ernie Ford song ” Sixteen Tons” lamented “I owe my soul to the company store”. As a child, I had conversations with old black men who had spent their lives as “free men” working as laborers on cotton farms. They couldn’t leave for better jobs because they were so far behind on the rent they owed on the house the farmer owned, and the bill at the “store” most farmers (they larger, wealthier ones) maintained on the farm to sell them food and supplies on credit. In the south, sheriffs would track down, arrest, and either jail them, or release them back to the farmer until the bills were paid (they never were) if they ran off.
The insatiable need for instant gratification that most folks seem to have, turns them into slaves.
My Dad gave me two pieces of advice. 1) buy land, you can always grow carrots and live off them. And 2) if you are ever in the mine, and smell rice cooking, get out…you dug too deep!..
Every one of my mentors told me that good producing farm ground investments will never loose. (What you do with that land might fail, but the value of the straight land will always go up.)
If you have an adjustable rate ARM mortgage, now is the time to convert it to a fixed rate. Easily done. Otherwise just refinance into a fixed rate mortgage. That way you can pay the balance off with vastly cheapened dollars once inflation gains traction.
After 2008-2009, if someone has an adjustable rate mortgage or an interest only mortgage, they deserve to lose their butts. Those types of loans should have been banned after 2009.
Those that fail to learn from history are bound to repeat it.
Security, shelter, water, food, communication.
Prepper’s priority list.
Lots of resources go into making these sustainable either in periods of economic insecurity and/or high inflation. Or to be prepared for a sustained collapse.
Was just talking with my farm helper this morning “What if everything went south tomorrow? What would we wish the most that we had bought today?”
I think the most valuable asset takes hard work, time, a little disappointment, and sometimes starting over. That is a community of loved and trusted family, friends, and neighbors. As one of the 2017 comments mentioned, the older I get, the longer things take to accomplish, and the less I can do for and by myself. Taking time to care for others, spending some of my money on their needs, helping with projects, just being a good neighbor even if not a friend, all will go a long way to improving the security of my place. That security will preserve the value of the assets I do invest in for the long term, especially knowing those assets will be used to support more than just me and whoever else might be living under my roof.
Next on my procurement list is even more propane and woodcutting hand tools, and a set of big water squirters for the neighborhood kids. Knowing that if the day comes, cooking will be communal, as will firewood gathering. Playing together will continue as before.
Don’t forget also that as we get older the fish we caught get bigger in the stories. Hehe
Food is still number one, I think. Next on our lists is procuring enough socks and good footwear/work boots to last the next few years. And I wouldn’t mind some new waterproof outerwear to stock up on either. Some of our winter clothing is showing it’s age. I also like the suggestion of more hand tools and wood-cutting tools. And more fencing. I want to cross-fence the pastures. My brain keeps screaming to get this all done by September…..by September….by September. I’m not sure why. Think the global economy will even last that long? Gonna be a crazy summer that’s for sure.
My mother passed away end of 2017. At that time I felt strongly that I had two years to do what had to be done. That would have put us at end of 2019, beginning of 2020. A lot of other people have gotten the same “instruction.” Beginning of 2020, summer of 2020, fall of 2020.
One way or another, 2020 is a turning point. It’s going to be a different situation for various people depending on their situations. People in an urban area (as I am) will likely have the problems start earlier and harder.
Lauren, you just might be made aware of more events happening earlier than those of us more rural. Where we are, people turned off the news so were not even staying home. They said the news of the virus upset them…so they ignored it all and just went about their business as usual. Most refuse to even wear masks or gloves at all. No social distancing either. I can’t imagine if anything else were to happen how people would react here. Or not react at all. It is insane sometimes how normalcy bias (?) plays out.
But I do think worse things are coming. I just feel it. Crazy, I know. I wonder if we will see a real global economic collapse this fall. Then more disease.? Sure kept most people home. No riots, etc. Global control of the people.
I don’t think it’s crazy at all. I’ve been feeling the tension of it all day. Yesterday, lots of people coming to the greenhouse felt to me like they had an undercurrent of almost panic. Every single one wore a mask. The social niceties were all still there, but with an unnatural brightness to them. Most of these folks are of the progressive bent. They’re the ones buying up large quantities of tomato plants. The more salt of the earth native born folks will be in a couple weeks from now, probably not worried at all, and definitely not wearing masks.
Along with having more hand tools, stocking up on wood of various lengths and sizes as well as flat iron, sheets and steel plates for various DIY projects. Because having hand tools to make or fix things does no good if we dont have materials to work with.
When we retired almost 3 years ago & moved home to Texas, we really downsized both home & possessions to simplify our lives & concentrate on enhancing family relationships to leave a legacy of kindness & knowledge for our loved ones. So we are not acquiring stuff so much @ this time as we are maintaining a lifestyle of preparedness & a mindset of precaution.
We are stockpiling food, learning new skills like ham radio & working on genealogy. We live in the “burbs” close to our grandkids so I am also storing up clothes, shoes, books for their needs. We have stored extra sheets, blankets & towels as well as clothespins, a washtub, etc. We have a burn barrel for trash in case that is needed. Faraday cage is full. Although we don’t yet need a walker & geriatric supplies, we will put those up also.
We have a friend who used to work for a car rental agency which has just declared bankruptcy & he told us the market will be flooded w/ vehicles soon & they should be cheap. Commercial refrigerators/freezers, tables & chairs from restaurants, etc will be coming on the market too. I really believe things will go get terrible w/ foreclosures, empty houses & vacant buildings, & boarded up businesses. In fact, we are having security film applied to our windows this week & are checking on solar power next.
Buckle up. Keep up the great work, Ken. This is the best place to gain knowledge & be edified in the process, friends.
In reply to the last part of TX. Yes, this site is awesome Ken. I check into this site whenever Chairman Mao isn’t blocking access.
Before this mess with cv-19 started I didn’t worry much about my stored food because the warehouses will be commandeered by govt. long before going house to house.
Now?? I’m worried!!
Not giving advice just explaining my current purchases. Excalibur dehydrator, 9 tray with a timer. Just bought a second one, my first one is almost 20 years old and working awesome.
Also canning lids/jars. I use mostly tattler lid’s but still do abut 20% of my canning with metal lids. I like the 2 quart jars for dry storage.
Food saver wide mouth vacuum sealer and a hand brake bleeder for sealing dehydrated food and dry goods.
All chainsaw supplies, extra tuneup stuff, bar oil, chains, spare bar, oil mix. Spare ethanol free fuel with stabilizer. Also starting fluid, and carb cleaner is really handy
Layer feed to make it at least thru summer for chickens, now is a great time of year to cut fresh greens for the layers and cut back on your feed bill.
If you have fruit trees/bushes. Mason bee tubes, lots of them. Just bought 400 more tubes. I just use empty #10 cans or the long pork and bean cans for tube holders. My local native bee population is exploding, almost all blooms on everything is pollinated this year. Going to have to thin apples and pears like mad to save limbs
Fire For Effect!
I’m growing ginger as a houseplant. Figured I’d give it a try and see how it goes.
Black tea with ginger is pretty good also.
Thats why im glad i have about 60’ of a 200’ row of ginger, other 140’ is turmeric,,,,,,
Is it feasible to ship ginger and turmeric to the mainland? We use so much of both, generally grown several thousand miles west of you. I would love to have some grown in Hawaiian soil, by someone I sort of know. I wonder how many others think like me.
Hola Ken! If/when you finally offer a paid membership model, will you consider an MSB marketplace to help facilitate old-fashioned commerce riding on new technology?
Maybe I can start the next up and coming “Amazon” equivalent marketplace ;)
Ken…”start the next marketplace”…well , maybe not so far fetched…?
what if you were to set up yourself another site, with all the goodies discussed on here, and have links to it on here?
So I have been researching this for over month – how and when in collapse like Wiemar republic as an example… Reading a lot of ZH too.
We are currently leading into a bizzarro economic time… You will see hyper inflation on certain items i.e. Food. Then you will see deflation in other items like gasoline… This is a supply / demand pricing structure for needed assets and goods. This devaluation will collapse and cause even more trouble i.e. energy sector.
The General publik aka ‘sheeple of Merica’ have no idea about the hammer that is about to drop on them.
Basically this is a period of Deflation occurring as we speak… This precedes hyper inflation….
During this current deflationary period of time, there will be economic blood in the streets…
If you still have a fair amount of fiat currency on hand you will be able to find really awesome deals on certain tangible items during the next few months… If needed in my opinion, Make those purchases. Ken has mentioned several tangible hard assets in this article.
Forget about precious metals at this point. 1oz us mint silver dollar has a $8-10 buying premium on it above the spot price at $15/ troy ounce.
Buying Opportunity Example: Possibly unbroken, non-improved, vacant land as land owners start to freak-out and need to liquidate the land for fake fiat currency to cover the cost of loans on other properties they own…
There will hopefully be a few buying opportunities out there.
Always think MACRO not MICRO
Might be able to get a good deal on a set of collectible NASCAR dinner plates. It’s a multi-use item. You can eat off it. It looks great. And you can fling them at would be intruders if need be.
Anything that is a true multi use item.
IMO, nothing beats grain alcohol. 1. Drink it
2. Tincture medium
5. Cooking fuel in a Trangea style alcohol stove
6. Mixed with other items, it can be used as an explosive…for removing tree stumps.
7. Placed in certain containers with an external wick, it can be used as a projectile….as an aid in igniting your slash piles when cutting firewood or cleaning underbrush.
Grain alcohol will always have value.
I saw a youtube of a company that made a very nice copper still. It was small, like a tabletop version. Very cool little still, professionally made too.
Have you ever seen those?
Um…yeah…you can buy one. (But why would you?)
Definitely food, first. Then good clothing and outerwear, including shoes and workboots. In addition to our own currency devaluation, if there is a shooting war, anything imported that’s not already affected by the slowdown in China will get very expensive and hard to find. And the price of American-made substitutes, if there are any, will also increase in price. Not sure what all of that includes, but I’m imagining my life for the next year and acquiring everything I need to live it, as budget allows.
I would definitely stock up on animal feed of all sorts. My next batch of broilers is due to arrive in July, and I will be getting their feed in place in the next couple of weeks. I saw someone advertising this season’s hay already – all cuttings, $75 a round bale. Yikes. Not as high as it gets mid-winter, but that’s a high starting price. If you need hay, you might think about locking in a supplier/price now, and hope we get good hay weather this year. I’m also planning to grow black oil sunflower seeds, buckwheat, flaxseed and blue corn, as a feed alternative for chickens, and mangels as a feed supplement for cattle. Figure that’ll stretch out the purchased feed.
Once the life sustaining and life saving preps are in order PMs will help
to get you thru the difficulty’s that are coming.
Due to price and availability I think pre-64 silver coins are the way to go.
A bag of quarters(400coins/$100.00 face value) is around $1550.00.
The premiums are going up every day.If you snooze,you loose.
Another thing I’m considering for my two youngest is converting a portion of their savings into silver. By the time they come of age, I’m sure the FRN that comprise their savings won’t be worth much, if anything. I’m looking at junk silver, as it seems to have less of a premium than the currently minted silver eagles. I checked your advertiser link, Ken, and silver is still available there as of today.
I’m not converting any of my FRN to PM’s, until I have my list of essentials acquired. My list includes items needed to be as close to self-sufficient as possible – tools, manual well pump, self-defense items, seed stocks, fencing supplies, wood cutting tools, etc…
Farmgirl (or anyone),
If you ever consider purchasing physical silver, I suggest getting it from GoldenEagleCoin (a long time sponsor here). If you do, tell them you came from Modern Survival Blog. Thanks.
They also sell “junk silver” coins (90% Silver US Coins)
Yup. That’s the site I was looking at in the wee hours. Very nice, easy to navigate, and reasonable prices. Planned on using your sponser link to get there again. Any opinion about the the long term value of junk vs. non-junk silver? I was thinking of the pre-1964 coins because they don’t have such a high premium attached to them, like the eagles or other minted coins do. Is there any reason it’s worth paying the high premium, i.e. more trusted for exchange or something?
Junk silver would be recognized by everyone and the dimes, quarters and halves could be easily traded and change given back. The .999 eagles are beautiful. However in the old days a coin like that was sometimes cut in two as to buy and give change. We have a jewelry scale it will weigh coin correctly as well as rings and such. Now all we have to do is hope crypto currency doesn’t take hold for some years yet.
I never thought about the making change part! That would require other party to also have junk silver, and that both parties can verify authenticity of the coins. I hope there will always be people who prefer real coin over digital vapor money.
Thought you might like a little info on the silver content of junk silver.
Silver dime contains 2.25 grams pure silver
Silver quarter contains 5.625 grams pure silver
Silver half dollar contains 11.25 grams pure silver
Knowing how much silver you have is a big help when bartering or trading. Hope this helps.
The grams on the silver you have listed are those pre-1964?
Know that after a certain date 64/65 silver went from 90% down to around 40%. How does one now for sure on the 1964’s which amount of silver content is in the coin?
1964 and earlier are 90% silver, and that is what I was referring to. There were war nickels with a silver content, but I don’t pay much attention to them, as the content is lower. Don’t mess much with the 40% either. Love those Silver Eagles and Maple Leafs though.
There was a pawn shop I bought some junk silver at a few years ago. Their premium was $1.00 over spot. A couple times they had 1/10th ounce silver rounds. Bought a couple. They are about the size of a dime. I don’t waste my time with silver eagles. The premium is insane.
We were able to get our 401k money out after we reached the minimum age, and not have to pay the penalty. Bought some silver bullion 1oz .
Invested in the rural piece of land. And are building a new home- stead there. With cash, the only debit we have are on the mortgages on two houses. That pay off next May. At that time we are going to sell them off?
Food is always going up, cheaper today than tomorrow. And we already have food stock piles. Plenty of water, artisan well. Plenty of land, high dry and fertile. So we have the start of a fruit orchard, garden.
Expanding our seed bank, from some that don’t work to those that don’t.
Also remembering the rule 1 is none and two is one. So tools, clothing,and anything such as major assets.
For example, one of our freezers just recently went down. A replacement was not available. But through a contact in that field who I had purchased major appliances through. Had a unit on the floor that he would sell.
I have a hoard of gardening hand tools, remember they don’t last forever, and good bartering items.
And on bartering items, the garden, orchard, chickens both egg layers and meat. Goats, pigs, cattle. We raise all and already have an income from them.
Both the wife and I have expanded our skill set. Which we also get an income from.
So in summary , water, food, shelter, tools, talent and skills. With the ability to become self sufficient.
Great ideas everyone. I’m onboard.
Speaking of folks still asleep to the situation, my son still doesn’t realize that the country is broke. They think I’m a tin hat wearer.
He is also a real estate agent and claimed that the market will drop soon, due to the virus. I believe the virus is a cover up of the economic situation that we have been in since 2009.
I own my house and thinking of selling before the market drops then buy a cheaper one when it does. My house isn’t expensive at all.I live in Iowa. I’m actually concerned about them taking us to a cashless society though. Ron Paul is a hero of mine as well as other like minded folks. Any thoughts?!
Deborah…if you are seriously thinking of selling..Find yourself a new place to live first..
One often hears of cheaper houses to be had. Sad reality is that quite often what ends up happening, is the only cheaper house out there, is yours when you go to sell..For a myriad of reasons, one ends up paying more than one expects for new house/new living quarters.
another factor…your house now…are you keen on it? on you needing wanting different features (bigger yard for garden/chickens /food storage etc)
there is a lot involved in selling (and then buying ) a house. Add up the costs…and trouble …and check if there is anywhere different you want to/willing to live? (I know there are lots of cheaper houses where i’m at, but many not in area I would recommend)
Thank you Jane
I was going to sell and hold my money for awhile. I would just hate to lose my money while waiting, due to the Gov wanting our cash.
Also, I live in the city and thinking of moving to a smaller community. My house is on a half an acre lot. Great for gardening and thieves. I would like to grow enough for others (hungry hoards) but shoot, I’m getting old and live alone.
I have a number of US Savings Bonds that are over 15 years old. Should I cash them in and use the money for other things?
I am ‘not’ a financial advisor.
It depends on how secure you are with other monies available to you. Since it such a personal matter only you would know whether to turn them in for spending money.
The problem with gold/silver bullion is authenticity.If you plan on using it
for person to person barter/purchases at some point you’ll need to prove
that it is genuine and for that a test kit is necessary.
Junk silver is recognizable to everyone and likely accepted by everyone.
FYI. The government considers gold bullion to be any configuration that
are coins or bars and can be confiscated in a national emergency.
Except gold coins minted prior to 1933. Why that date lord only knows.
There is so much privately held gold that it seems that it would be nearly
impossible to locate it all. Maybe they will develop a devineing rod.
This would be more as a store of value for several years down the road. I’m not planning to barter with PM, as it would be an increased security risk for me and I’m trying to minimize those. I just don’t want to see all of their savings disappear in the dollar crash that’s coming.
I’ve only ever used divining rods to find water, or underground utility lines. Didn’t know they could be used for other things. So do people with buried caches of ‘things’ need to be concerned? I have always assumed anyone can use that method, so that would mean unethical people, too.
The devineing rod was JOKE!!!!! Good grief.
Farm Girl: There are many things that we are not “planning” on doing in the future.The day may come that barter/trade will be done under an armed overwatch.
If lack of security is a problem for you it would be wise to join or start a
Not ‘planning to do’ doesn’t mean I wouldn’t, if necessary. Just means I would focus on other barter items first. Same reason I would not go to ammo as a barter item first, unless with someone in my inner trust circle. Certain items attract more attention than others. I will always seek to minimize risks, if I can. That just seems prudent. I don’t know anyone who is 100% certain of their security; I continue to work on mine, and it’s not where I’d like it to be. Don’t know what a MAG is – mutual assistance group is my guess.
Sounds just like ‘NRP’ who evidently lost all his guns in a boating accident on Navajo Lake.
Yeah. Mine are at the bottom of Lake Michigan. I think it was a rogue wave that knocked over my canoe.
Land is good if you can pay the taxes every year. Consider paying the taxes ahead a few years. There will always be opportunist to swoop in during and after a war/calamity to take advantage of those that cannot pay the taxes. The Civil War is a lesson in that respect and greed knows no barrier.
Mrs. U, government will need to get money from some where. If you have a job or property you are in their sights, with stopping production this will be the first place they will raise taxes on. Even with depreciation my land appraisal keeps going higher due to demand for rural property. The aftermath of The War of Northern Aggression is the exact lesson people should study. My German FIL giving me advice at 22yrs old, had me scoop up a handful of sand. In my other hand he placed a rock and told me to wiggle my fingers. The sand slipped through my fingers and the rock stayed. He told me the sand was money, the rock was land. Money will always slip through your fingers, land won’t. His thinking was you only sell land to buy more land, advice that has work quite well for me.
Our property taxes went up crazy high this year. I am so disgusted. And land prices have gone through the roof. I cannot believe how how they are. We thought about relocating to further out and whoa. I could hardly believe how much the land prices have shot up. Really was shocking.
May I ask what percentage your prop taxes went up? Not the $$$ pmts, just the percentage increase… thanks!
Thats what is happening here Homesteader,
So far the countycouncil has kept the taxes down for long time residents and owners of single properties but it will end as more outsiders are elected by outsiders.
Eventually ill be squatting in the tent next to yours out in the forest somewhere
Good grief, 250% and a 6-fold increase. Ridiculous and inexcusable in both cases. If the goal is to drive everyone off their land that will certainly do the trick. Thanks for the info.
That’s really saying something that they are willing to talk silver. It can’t be easy having to make the kinds of decisions you are having to make. Wishing you & Mrs OH well as you wrestle with all of this.
That is exactly how the gov will steal land in the near future.
The UN agends 21, now agenda 2030 is to have what remains of the USA population living inside or near mega cities with 1/10th of “our” land used for people the rest of the country would be a restricted zone.
I’m sure someone else has mentioned it and I need to repeat it.
The left wants control and the simplest way is to remove you from your property.
Easiest way to do that is economic collapse, taxes, eviction, confiscation.
the land could be paid for but they could push you out over taxes and of coarse eminent domain laws. i have seen it happen in my area and it’s really sad when the gov. forces people to move off of land that they have had for generations to give land to big corporations. it happens everyday
Those who said food might be on to something.
Just caught a news bit on the radio (ABC affiliate) that said retail grocery prices spiked highest in 50 years in April. They recommend that folks buy in bulk as much as they can.
Think the shelves will be even emptier as we go into the summer?
After your recent article on GSM, I decided my daily walks will be done with fresh purpose while we are still in suburbia. Each day I set off in a different direction and look to see if anyone else appears to be growing anything that can be eaten. We have one neighbor I know of who continues to grow some veggies in containers, but I wanted to see if anyone else learned any lessons during the last year. Sadly, it seems to have only gotten worse.
In my area, a lot of people have homes built to the limit lines and very little open space, so walking by gives a pretty good hint as to who is growing what. A couple homes have dwarf citrus, one has a promising grape vine and looks like they are growing more out of view. Of the literally thousands of containers I’ve seen in yards none seem to have food. And where some people used to have decent grass that could be converted to food growing, they now have low-water succulents or fake grass. Who knows what shape their soil is in. And while I’ve seen lots of pretty flowers, I’m wondering if any of these folks even have a clue about how to grow any kind of food at all. Not so much as a pot of herbs or strawberries in sight. Sure, some may have something growing out of sight (like me), I’m betting it’s very few. Suburbia is clueless, and practically food-free. Sigh.
Even if every other person grew food down there, it would not be enough. Hope you are able to get out of there soon. I left the Valley 49 years ago, never looked back. Better for it all the way around.
Agreed… it would never be enough food to sustain a family.
But, I was hoping to see some people with at least awareness or maybe know-how; someone who paid attention and maybe thought to work some sort of food into their available space or containers. At least those might be people who could be helpful or resourceful in supplementing available food. But, not so much.
You are diffinately in the minority. Hopefully when you leave it will not be like Lot leaving Sodom & Gamorra.
So Cal Gal, Very wise to have that inventory. There are 18 residences here in the bottom. Three tucked completely out of sight. One is a vacation home, one is vacant sale pending. One is lease to own, one is rented, one is in a trailer on relative’s property. I’m aware of two gardens, one has honeybees, one got rid of all sheep after cougar depredations, bobcat has taken all of another’s chickens, and some of mine. I have orchard, there’s community walnut and apple trees in a leased pasture, and community blackberries and mushrooms everywhere. Trout in the creek, salmon in the river, elk in the field though none of us hunt them. We see them as emergency food store. Hoping when piglets are weaned I can get some nearby interested in raising their own meat. Saw a young friend in town who’s a prepper. Encouraged to focus on long-season foods and imports. Anything we can do for ourselves is something we don’t have to hope someone else has done for us.
So Cal Gal and friends in suburbia, LOOK for Dandelions. With all the Scott’s Yard and True Green and all that “Weed Killing” green grass suburbia thing. If you try to plant heirlooms garden plants where these Roundup style herbicides you will have at best poor results. More likely total failure to thrive.
Dandelions were IMPORTED by our European forefathers as a Spring Tonic and general health giving pot herb.
Dandelions also prove the LACK of Roundup and generally decent or better garden soil in Ph and such.
Skills like knowing about how to find decent garden spots BEFORE you waste valuable time and SEEDS in a Roundup contaminated soil (takes YEARS to clear out BTW) is an Inflation Resistant SKILL.
I dunno bout that one NHM, i can spray roundup and within a few months theres dandelions, wild lettuce, spanish needle, thistle and wild mallo and epazote coming up like nothing was ever sprayed, over here, where stuff never stops growing, herbicidesare about the only way to keep stuff back, unless of course you are one of the people wrapped up in organic and can afford to spend hundreds of man hours at the losing battle with mother nature, she always wins, frequent cultivation isthe only way to sorta get ahead of it, for a minute or two.
Kulafarmer all studies show that it takes a LOT of Soil Microbial action to reduce Roundup and Co down to “safe” Levels. I seem to recall when Monsanto was testing Roundup they tested it in your Islands to “Show” how quickly it broke down “proving” it “Safe” to use.
Your islands are quite the nature Active Islands friend. Personally it’s not hard for this old man to keep our weeds and such under control and I Don’t Use Herbicides, like you have too.
Here on the main land I know far too many folks that have simply used Roundup or such sprayed hay-straw as mulch for their gardens and killed off that garden plot for years. I’ve heard the same reports on this MSB board of folks that lost gardens thusly.
So I suggest strongly folks beware of Scotts Yards when your trying to establish a Survival Garden when things go sidewise. Your likely not to enjoy much food for all the seeds and efforts involved.
Propane mentioned by others and needs emphasis. Friend has a family member who drives pressure tank trucks (propane and ammonium nitrate). Says the big depot he picks up from is operating at only 50%. With fracking fields down through combination of virus impact and collapsed fuel prices, some processors are also shutting down. Reopening natural gas wells and processing plants is difficult and can take months.
Around here there are miles of empty pressure tank train cars sitting on the sidelines. Think I’ll add some more to my reserve. Just In Case.
Went to our local Lowes today. Saw a neighbor loading 2×4’s into his truck in the parking lot. I said to him, ” You must be rich to be able to afford to buy wood?’. He replied that he paid twice the price for them that he had done 6 months ago for the same items.
Had three pieces of land near us up for sale, 2x 10 acre lots and 1x 15 acre lot. All three sold within two weeks.
As I have posted so many times before, A STORM IS COMING-PREPARE FOR UGLY
standing pine timber sells for 12 dollars a ton now
try buying a ton of 2x4s and see what it will cost you. dont buy it unless you have to
starve them out. if demand was to drop, so would the prices
hope you end up with some good neighbors
Lots of older folks here….folks die…cannot avoid it. Cost of funerals go up…same as everything else. Most funeral homes sell pre-paid funerals…locking in the price, no matter how far into the future. That $10k life insurance policy you’ve been paying for years….may not cover the cost after this next round of inflation. Something to think about…………
I paid 3500 for G cremation, up from 1700 5years ago. There is a billboard near Hopkinsville (a friend told me)ad pricing for 1500.
I will check into that soon.
Yeah, lumber is a “no buy” item now in my neck of the woods. $38 for a sheet of 7/16″ OSB, $50 for a sheet of 1/2 ply? Nope. A whole lot of “Not gonna happen” is happening right now. If you are looking to buy to build a home or cabin right now, I’d start looking at other materials, like concrete or masonry.
The homes priced at 200K in a county I moved from are now 285K. in Tennessee.
I can’t sell my too large house here in Ky. and buy another due to this.
My equity from this house would hardly buy a 3 br/1bath home now.
So, I stay until I can’t any more.
Around 6 months or so ago I was looking for something for my small manufactured home. I went to a dealer to ask about it and talking with him he said that the had just raised prices 20%- no telling how much more since then.
I went to Bi-Mart for a hose clamp this morning and in the 7 or 8 bins that were supposed have them only 1 did and it had 3 small clamps but it was the size I needed!
7/16 OSB is $50 a sheet right now. 3 weeks ago it was $64 and they were out of it!
I always remember what my Dad told me, “you can have a room full of gold and it is not worth anything, until some one buys it”.
I won’t argue the value of precious metals…but your Dad was right.
Gold, silver, a paper dollar, or a peck of apples are all nothing more than currency or barter material….you swapping what you’ve got for something you need or want….where you are at…for what’s available…at a ratio both parties are agreeable to.
Gold might be worth a million dollars an ounce in New York city, but if you are in Dog Patch, Arkansas after a grid down emp?
Was approached yesterday by a neighbor who had bought a new .45acp pistol….hasn’t been able to find any ammo…asked if I had some I could sell him…told him I would think on it….my thinking is, he has some young bull calves………..
Buy gloves now. Off season sales???
Ham radio. Looks like anything with a chip will become scarce.
Boots, including winter boots.
Noticed the price of garden vegetable starts, are much higher. I bought them anyway arrrrrrgh.
My garden will be very full this year. Planting even more than usual.
Need any fishing gear? Stock-up on hooks, cordage, line, etc.
ARM- I remember when the ARM first came out and the guys at work were really bragging it up, how much money you can and would save. Well, jump forward a few years and that ARM started going up and up and the guys that called me stupid for going with a fixed rate mortage were sorry that they had went with the ARM and were trying to convert back.. Even my wife at that time was unhappy with me, but wouldn’t say anything after wards ( hmm, women. wish she was here now instead of being gone thee last 4 yrs ). Yup, prices are going up, you can see it whenever and wherever you go to buy or get something and sometimes there isn’t anything left or very few things.
I say buy ham because there are only two places you can get it now…….the left side and the right side! LOL
If someone has the funds available, how about a wood mill. If you have the land and the trees available, you are in better shape than most. You will still need fuel to run it, but it costs less than that 2 X 4.
Seems reasonable to me. The L side ham is soft, compliant, easily manipulated and when it’s gone, well you know. The “other” ham isn’t palatable at all. It’s only redeeming value; It could save your life.
It seems that there is not much that is inflation proof these days.Maybe stocking up on Dr. Joe Altons Survival Medicine books
would be good.There is actually a book titled”Dentistry Where There Is No Dentist”. I can’t imagine letting Uncle Herman work
on my teeth though.
There’s also a “Where There Is No Doctor” book.
I feel the world today is much more turbulent than when the article was written . That said , we would and do buy things that store well and that are things we use . We also try to think of things that others may need or be willing to barter for. We do not intend to barter food or ammo because hungry people may be dangerous people. We would rather barter matches, socks, nails, extra tools, just about anything but food.
I think that inflation of prices ,or dollar devaluation, is going to be a huge issue soon and I do not think it will be very pleasant for anyone.
I’ve got 21 goats. That makes me a wealthy man (in Somalia). They are the cutting edge in goat technology. Nigerian dwarf goats. They are small enough that 5 foot fencing will keep them in and they did produce milk and meat. Now that they all have names, faces and a personality, they aren’t being harvested like I wanted to. Turns out that the goats were mostly hollow anyway and it takes a lot of effort to milk them. I guess we now have a petting farm. We do produce loads of waste hay and round turds. These goats like to take a bite, then grab a mouth full and throw it on the ground – then repeat. I was hoping that I could grow red cap mushrooms in the mounds of waste hay, but that hasn’t occurred, yet. Like all goats, they do have suicidal tendencies. If there is any chance at all for a goat to devise a noose or snare from improvised materials, they will do it just to spite you. They do like to nibble your windshield wiper blades, too.
WI, wintertime they attack the cars for the road salt on them, little tongue prints all over with help from my pet sheep Clyde.
Get/stay out of debt.
OTC medicines that you use.
Band aids and antibiotic ointment.
Hand and dish Soap.
In my neck of the woods ant poison, (imported fire ants). :(
And the list goes on. and on. and on….
Greetings. It’s me, BigBadCat.Someone or something has been messing with my computer for a long time. Couldn’t get on anything. Hopefully I’m back online. Will soon be posting again.(I Hope)
Nice to se you back neighbor!
If those fighting inflation find it hard or have to cut your purchases, you can find a part time job or have a rummage sale to help make ends meet.
During those Obama recession years, my biggest inflationary costs were C Card interest rates and I had to pay them all off. I got a job one day a week at a fishing resort during the summers and made about $20/hr for 5 hours on Saturday besides the PT forestry job, and sewing business I had that suffered work losses. Benefits included any new canned goods, soap, frozen steaks, napkins, paper plates, fruits and vegetables and unused items they left behind, plus a $$ tip. Some vacationers made us breakfast and a walleye/chicken lunch. Also left was unclaimed fishing gear of hooks, lines and sinkers with live bait and why I haven’t needed any of those supplies. Someone had a bad time fishing and threw their new rod and open faced fancy reel away which I added to my collection. I never went hungry, paid my bills and paid off my high interest C Cards.
If you’re talking about items to Barter with, you can never go wrong with ‘Liquor’.
With this, you can trade for anything and everything.
That’s where my investment money is going, building up my stock.
Have the knowledge to build that stuff..
Takes very little equipment and just a little time.
NRP & Blue,
People are having a hard enough time learning to farm on their place, and here you go encouraging them to go “farming the the woods”. LOL. You’re absolutely right though, i think everyone should know how to build a ….um… water distilling aparatus. you know, just in case you only have bad water you need to clean up and stuff.
Remembering that distillation without a license is illegal. AND I would never do so….. so the following is pure hearsay.
Here is the basic cost breakdown of 100 proof Apple Shine
175 pounds of Sugar ” ~$80
40 pounds apples ~$45
1pound of distillery Yeast ~$10
150 gallons water ~$5
So for ~$140 you can yeald around 170 gallons of Wine, that will yeald ~ 22 to ~23 gallons of 100 proof.
Now I have ZERO idea of anyone that does this….. BUT If/When TSHTF and you need to barter….
There ya go.
That sounds like a pretty good yield of parts cleaner,,, whats the going rate i wonder for quart jars? 15$? 20$?
I heard from my uncle’s son’s daughter’s sister in law’s former husband’s ex-wife’s mother that the going rate is around $80 per 1/2 gallon.
But again all hearsay.
Medicinal quality parts cleaner and shellack thinner
NRP & Blue
Hmmmmm. Gives me an idea for a midnight run on the 3,000+ acres of apple trees just behind the house. All I need now is an apple squeezer. What kind of things have you heard about cherries? About a 1,000 acres just down the road. Sugar cane…..sugar cane…..gots to find a source for sugar cane. I need something to do….LOL
Cherry parts cleaner????
No need to squeeze the fruit.
Just grind it up in a shreader and mix it in, seeds, stems, worms and all.
Fermentation kills it all.
PS: add a couple of Pack Rats for a protein kick LOLOL
NRP & Blu
I bought some stuff in the Philippines in ’68 that tasted like it was of that formula. I think I’m still alive, so it must be OK. I think it was made by the Navy in ’42.
One thing I notice missing in ‘preparedness’ posts around the “Inter-web” is electrical things. Such as: Wire. AKA Electron hose. How do get electrons from one place to another without some electron hose? Answer….you don’t. Wire Nuts. How do you hook electron hose to electron hose, safely, without wire nuts? Answer….you don’t. Then there’s lugs, switches, fuses, relays, wire ties (AKA Zip ties), and on, and on….. Don’t know how to use those thangs? While it’s still around, ‘search’ the internet….oops….inter web. Whatever. And, if you have some of that stuff……don’t throw it away! Do exactly what my DW hates……don’t throw away electrical things that stop working. Take them apart, identify the parts, take out the ones that look good, hang onto them. AND, don’t throw away anything with a fuse in it. KEEP THE FUSE! And power switches. I could go on forever…..
Things suggest to acquire (and learn to use): A VOM (Volt-Ohm-Meter), Soldering iron, 40 watt (Get solder BEFORE it’s illegal (tin-lead solder is already illegal and silver-tin is close to it)), a solder sucker (still cheap, most work very nicely) and heat shrink. Electrical tape is OK but heat shrink is far superior. You HAVE to screw up a few times with heat shrink to learn the ‘easy way’ to use it.
Off to my John Deere tractor……it needs electrical help…..so, as Benjamin Franklin said: Charge!
One could say that about every practical skill. Electrics is just one of them. I consider myself a “Jack of all trades” and have a “mini Home Depot” of each department in my shop. If you have a skill in a particular area, chances are you’ve got the goods too… But it’s good to think about.
Is it too early to say “Too late”? End of January I purchased some silver from the US Mint. One pound bag of .900 silver coins cost $499. No shipping or handling charges. Checked last night, cost was $699, a 40% increase.
You done gud.