Peter Schiff - Prepare or Die (2 of 2)

Peter Schiff - Prepare or Die (2 of 2)



For the latest Peter Schiff, go to PeterSchiffBlog.com – This discussion with John Rawles is about how to literally survive the economic collapse. Gold and silver are a great way to protect yourself, but one thing that you want to stay away from is collectibles. If you want to be a coin collector, that is fine, but it has no place in a retirement account. You should buy bullion or coins. Shaving cream, razor blades, toothpaste are all good things to buy in order to protect yourself. The prices of all these items are going up, so you might as well buy them now. You can barter with them, you can use them for your own personal use, and even if everything turns out fine you will still have bought them for much lower prices than you would have to pay in the future. There are a lot of items like this that you can stock up on. They are like money in the bank. Even better, you won’t have to pay capital gains taxes on these items like you would with traditional investments. For all we know, the government may introduce a windfall profits tax in order to confiscate the wealth of all the people who were able to escape all the upcoming inflation. If you are looking at a survival situation in which the currency has been wiped out, then you should purchase items that are compact, durable, and easily recognizable. Bananas wouldn’t be a good choice because they aren’t durable. Aside from silver, bullets may be one of the best investment choices. Just use common sense. Batteries, candles …