7.25.2008

GOLD, SILVER...

In recent weeks we have seen some remarkable events. The recent IndyMac bank failure was the second largest bank failure in the history of the United States. It was incredible and almost surreal to witness a run on the bank in 2008. In the book The Creature From Jekyll Island, by Ed Griffin, it is apparent that bank failures are quite common in our nation's history.

The Book of Mormon alluded to the treasures of people becoming slippery. The stock market goes up and down like a roller coaster, and the price of a barrel of oil follows the same pattern. The current subprime mortgage crisis has led to another bailout of incredible proportions. The financial markets are in turmoil. The federal reserve, and fractional reserve banking is the leading culprit in these tumultuous times.

Wise men and women in my life have taught me the importance of being prepared for the unexpected. My many years as a Boy Scout ingrained into my mind the motto: "Be Prepared". After viewing all of these events, I need to put into practice what I have been taught on a much more urgent level. Food storage, financial reserves, and disaster preparation are necessary subjects to be familiar with.

One subject I plan to study more is investing in real money, (i.e. Gold and Silver) instead of the slippery fiat currency our government forces us to use. In the future, my posts will include material related to my findings. Needless to say, make sure you have your financial house in order as soon as possible. Even if nothing happens (which I doubt), peace of mind is one of the greatest treasures you can have!

2 comments:

Patrick M Phillips said...

I'm with you on that Gabriel. If there's one thing I've taken from the study of Austrian Economics, it's that debt is a millstone, especially as the economy is taking a nose dive. Second, investing in hard assets is the way to go.

Keep us updated on your ventures into investing in precious metals.

Nicole said...

I'm glad to see I'm not the only one thinking about this. I've found Dave Ramsey int he last year and been able to pay off lots of debt - but not all yet. I'm Emergency Preparedness Coordinator for my ward now, and I've spent the last year building up a food storage, planting fruit trees and gardening in this new location we are in. I have been surprised by the peace of mind these steps have brought to my life! I knew I would be blessed but until I did it I had no idea what I was in for! I'm glad to have found your website and will spend some time soon exploring it.