Hi guys, Barry in DR. Today’s topic is important. In my many communications with Americans, Canadians and Europeans each day, I am encouraged by the growing awareness and realization of the probability of a coming currency collapse and an acceptance of just how devastating that collapse will be in most of the first tier countries. But as fulfilling as it is to us to feel like we may be helping to get the word out, there is one thing that is frustrating as hell…. meeting and talking to good people that understand the urgency, yet are frozen in fear or inaction.
My concern is that many will be completely blindsided by what they already know in their gut will happen, only to wake up one day and find that their options are severely limited, their freedoms eroded, and the doors have been shut.
I know, many of you feel that there will be time enough to act when the shit starts to hit the fan in earnest. But do you really believe that? Really?
History tends to repeat itself over and over, usually in progressively dangerous waves until an ultimate inescapable collapse. Just look back…. how long does it take for the stock market to collapse 50%? How long does it take for the government to tell you to “voluntarily” surrender your gold or silver or face 10 years in prison? How long does it take for the government to jack your taxes up to meet the insatiable appetites of the politicians? How quickly can a bubble bust as it did in the high tech bubble or the real estate bubble? How quickly can the power grid and other infrastructure suffer a shutdown? These are just the tip of the iceberg. I am sure you already know in your gut that much worse is possible, and it can escalate fast in time of crisis.
You either believe that things can get bad fast, or you don’t. If you don’t believe it, then I understand why you would have no interest in a backup plan. I really can’t help you very much. But if you are one of the growing numbers with a knot in your gut, recognizing the danger ahead, then I want to talk to you in this blog post.
I like to keep things as simple as possible. To me there are really only a few things that really matter when things hit the crapper. I want my family to be safe and have a roof over their heads, I want to have food and water in abundance, I want to be surrounded by friendly and like minded people, and I want as little interference from meddling, freedom grabbing politicians as I can get.
I’ve talked to enough of you to know that I am not alone in these feelings. I understand why some of you are taking action now to head off a future disaster, whether it is establishing a second residence here in the DR or finding some other escape hatch. But what I am having a little harder time understanding is the folks that “get it” yet just can’t take the first steps.
Some have shared their opinions that they just don’t feel the urgency quite yet. After all, the stock market is recovering. IRAs and 401Ks are getting close to the levels they were 4 years ago… the last time the market tanked. Of course that sort of ignores the fact that the dollar has probably lost almost 20% of its purchasing power while we waited for that recovery. Back to the question…. do you REALLY think you are fast enough to bail before the next crash? What good is that paper in your IRA or 401K if they limit your ability to get to it or worse, force you to reinvest it into practically worthless, illiquid government securities?
Others are frozen in fear of the unknown. Fear of moving to another country. Fear of purchasing a home in a foreign country. Fear of access to healthcare. Fear of learning a new language. Fear of being further away from friends or family. Fear of the quality of education. Fear of making a poor investment. Fear of the unknown itself. Etc, Etc.
I understand these fears… but to put them into perspective….. it’s just a backup safety plan folks. For example, if you chose to have you backup residency in the DR as part of your backup plan….. you are a couple hours away from the States and can hop a plane anytime you want, your friends and family can hop down to your “hideout” just as quickly and efficiently, the language is pretty easy to learn, the people are friendly and welcoming, healthcare is cheap and good, the international schools are quite competent, real estate ownership is easy and safe and worst case…. you have a vacation home for your family.
Carefully weigh these unfounded fears against the reality that you and your family will face in the inevitable currency collapse. Only you can guage your sense of urgency.
Look guys, I will do whatever I can to help you satisfy yourself and your family that these fears are largely unfounded, but it is up to you to place the bets and decide how close to the cliff you want to go before taking action.
For now, it’s Barry in the DR.