Dear Reader:

With Italy on the verge of seeing a “Greek-style” economic meltdown, the United States isn’t really heeding any of the warnings: like the sky high and exponential growth of the national debt. At the time of this writing, the U.S. government owes almost $22.35 trillion!

While there is nothing, we can do about the overspending of the pollical class, there are ways we can protect ourselves once this national debt becomes a crisis. And it will. Unfortunately, not one person knows which dollar will be the one to bring the whole thing down. How high can the debt go? Who knows?  But we will eventually find out.

Because of this, it’s important to face the reality of the country’s dismal fiscal future and prepare for it. A rising national debt could very well lead to a dollar collapse, and as we speak, several nations continue to devest from the U.S. dollar. Are they preparing for a dollar collapse? Maybe, or they are bracing for its decline.  Either way, many of these countries are buying gold or silver.  But consider palladium as well. Precious metals are money as opposed to fiat currency that is the U.S. dollar.

You’ll also want to consider diversifying your portfolio if you haven’t already by making sure you hold foreign mutual stock and bond funds.  Doing this before the end of 2018 ensured that when the markets dropped, my Roth IRA was still making me money.

In addition to precious metals and foreign mutual stocks and bond funds, consider holding real assets.  That means, pay off that car. This isn’t a new piece of advice from me. Yeah, I know, a car is depreciating, but it’s nonetheless an asset and why have a payment on one that’s going down in value?  You could also fortify yourself by buying cryptocurrency. There’s many to choose from.  Although cryptocurrencies are not for everyone, they could be considered an asset, as a lot of people value it and are recognizing it as a currency.

You could acquire things that others will want to trade for too.  Use your imagination here, but canned foods could be worth their weight in gold if all trade stops and the grocery stores shelves are empty.  And that is likely outcome of a dollar collapse.

Keep some of your assets liquid as well.  Meaning keep actual gold on hand or make sure you can easily get to something of value. The thing is, if the dollar collapses, things will go south very quickly.  For example, you probably will have trouble selling a house (if you’ve invested everything in real estate) or even getting a renter in there. You could be in even more trouble if you still carry debt on the house.

In short, the national debt is a crisis in the making. It’s there and there isn’t anything any of us can do about it except protect ourselves with knowledge and assets.

Best of luck!

Best Regards,

James Davis


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