More Advice On How To Protect Yourself From The Coming Financial Crisis

[No DUplicitous DUpe]

How To Protect Yourself From The Coming Financial Crisis - Part #6
(posted with permission Read parts 1-5 using link)

http://saneramblings.com/phpBB/viewtopic.php?t=217&sid=b1a67ac48c427424147ba0fa44e133dc

Last week the dollar hit a record low against the Euro and it approached a record low against the Yen. Gold briefly hit a stunning $1000 an ounce and oil rose to an all-time high, $111 a barrel.

These numbers will fluctuate up and down, but the U.S. government is not solving the underlying problems, and so they will grow much worse.

Meanwhile on Friday, Bear Stearns Cos., one of America's largest investment banking firms began to collapse until the U.S. Federal Reserve intervened. 85-year-old Bear Stearns survived The Great Depression and two World Wars but it would have crashed without the Fed saving it.

On Sunday, the Fed forced the sale of Bear Stearns at a fire sale price to J.P. Morgan. And if the Bear Stearns' assets lose value, the Fed will absorb the loss, which means you and I as taxpayers will pay it.

This shows you how fast the situation is deteriorating.

Bear Stearns isn't the only huge financial firm stuffed with potentially bad mortgages and packed with other liabilities from the recklessness of recent years. Many massive financial firms are at the brink of disaster.

Therefore, please be very careful in how you spend your money and where you save it, making sure where you save it is FDIC insured, so if the bank collapses you can still get your money back.

If you have large credit card balances outstanding, immediately try to pay them off or pay them down. Take a 2nd job or overtime if possible, sell unneeded items to raise cash and also contact your credit card companies to negotiate a reduction in the balances or at least reduced interest rates and fees on those balances.

America hasn't seen anything as bad as we're about to face, since The Great Depression, and the financial shock waves will jolt most of the world. To protect yourself and your family, please take the actions I've recommended.

In addition, please share this article "How To Protect Yourself From The Coming Financial Crisis" on www.saneramblings.com with others, so they too can protect themselves. They will appreciate your thoughtfulness.
http://saneramblings.com/phpBB/viewtopic.php?t=217&sid=b1a67ac48c427424147ba0fa44e133dc

[eridani]

1. Second job?

How about a first job for some of us?

[troubleinwinter]

2. Here's an intersting bit of his advice:

"If you work for a living, preferably be employed by a dynamic company in a fast growing field... military contracting and law enforcement will provide a strong base of employment for a long time to come."

I think I'd like to take a pass on the military contracting employment, thanks.

[No DUplicitous DUpe]

3. I agree, some of my friends suggestions would not be something I would do either..

But the larger point, I think, is that one should take heed, and protect oneself and ones family as best as possible.

Peace,

Jon

[The Stranger]

4. If you're paying back creditors with inflated dollars, aren't you coming out on the deal?

[OffWithTheirHeads]

5. My thoughts exactly

Why would I want to convert hard assets into crashing dollars?

[pitohui]

6. obviously the person giving this "advice" is an idiot

in double digit inflation or hyperinflation the debtor wins

and for the reasons you suggest