Many well-respected economists, billionaires, and noted authors are saying that a new financial crisis is imminent.

According to experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.
Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times, stating…

I think somewhere down the line we will have a massive wealth destruction. I would say that people may lose up to 50 percent of their total wealth.

In Faber’s opinion this catastrophic outcome comes directly from former Federal Reserve Chairman Ben Bernanke’s policy decisions, and the continuous printing of new money

Peter Schiff, the CEO of Euro Pacific Capital, considers that what we experienced in 2008 “wasn’t the real crash. The real crash is coming.

Daily Life Will Decrease Dramatically

If we keep doing this policy of stimulus and growing government, it’s just going to get worse for the average American. Our standard of living is going to fall.

Donal Trump, who is equally critical of the current government and our nation’s economy, is warning that the United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin

Donald Trump - Business magnate
Donald Trump – Business magnate and current POTUS

Trump doesn’t hesitate to point out America’s unhealthy dependence on China. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others.

It is this massive debt that worries Trump the most.

We are going up to $16 trillion in debt very soon, and it’s going to be a lot higher than that before he gets finished”, Trump says.

We are living in the greatest debt bubble in the history of the world, the global banking system has been transformed into a high-risk pyramid scheme of debt, risk and leverage that could collapse at any time, and wealthy countries such as the United States have been living way above their means for decades.

Many of our allies have started to abandon the U.S. economically. Great Britain, Canada, Australia, South Korea, France, Germany, and 51 other nations are eager to join either Russia’s Eurasian Economic Union (EAEU) or China’s Asian Infrastructure Investment Bank (AIIA). Both are designed to compete with and eventually destroy U.S. economic and military influence around the world.

We’ve long past the point of no return and avoiding the inevitable is impossible. The only thing that we can do is prepare for the coming economical crisis.

Preparing For The Financial Collapse

1.Create an emergency fund

When the previous crisis hit in 2008 millions of Americans suddenly lost their jobs, and because many of that, many of them also got behind on their mortgages and lost their homes. To prevent this from happening to you is extremely important to have an emergency fund. It should be large enough to cover you for at least six months, but the bigger you make it, the better off you’ll be.

2.Keep some money close to home

It’s not wise to keep all of your money at home, but a decent amount of cash at your disposal could be a life saver. Between extended bank holidays, ATM machines not working and a sudden crash of the banking system, there is always a possibility that you will not be able to access your savings. The best way to keep your money at home is by storing it in a concealed safe.

3.Buy precious metals

The U.S. dollar is going to lose a great amount of value and inflation is going to skyrocket.  With this in mind, people are starting to invest very heavily in gold, silver and other precious metals. The prices are still low so start now. Someday you’ll be glad you did.

4.Get out of debt

If there’s one thing the previous crisis has taught us, is that being in debt when it hits it’s not a good idea. Many debt collectors are becoming increasingly ruthless.  In many areas of the country they are now routinely putting debtors into prison.

5.Begin storing food and water

With the economy getting even worse and weather patterns becoming even more unpredictable, food reserves have reached their lowest level in 40 years. When the crisis finally hits, food prices will go through the roof. A good start will be storing wheat, rice and grains which can last up to 30 years if properly stored. Canned foods are also good to have in stock.

Water is even more important as you cannot live more than a few days without it. It is imperative that you have a plan to provide clean drinking water for your family when disaster strikes. Buy a filter and learn how to make water drinkable by boiling, filtering and aerating. Store it in Glass storage bottles as they are better than plastic jugs which become brittle over time and split or crumble.

6.Learn how to grow food

Some food cannot be stored, so you better start learning how to grow it. If possible start a garden and plant foods that stores well, need minimal maintenance with high nutritional value. Buy heirloom seeds (non-hybrid) and also safely store some fertilizer.

Also it would help to learn smokehouse food preservation similar to beef jerky and salted, smoked fish and meats (such as “cured” sausage, salami and ham).

7.Back-up power

There is a possibility of the grid going down and leaving you in the dark … literally. You need to have a plan for how you are going to provide power to your home that is independent of the power company. Homemade solar panels are a good way to go.

8.Stock up on blankets, hygiene and medical supplies

Besides food and water you will need other essential items to survive. During any major crisis, blankets and warm clothing are in great demand.  Hygiene products are important for your health and comfort so it’s better to store a decent amount of them. You will also want to store up medical supplies and any medicine that you may need.  In an emergency situation, you definitely would not want to be without bandages and a first-aid kit.

Another important thing to keep in mind is that all of these types of supplies would also be great for barter.

9.Other supplies you will need

In a crisis there will a great deal of other items you will need to survive. Make a list of them and start storing them. A few basic things to have are: an axe, a can opener, flashlights, battery-powered radio, extra batteries, lighters or matches, fire extinguisher, sewing kit, tools.

10.Protecting yourself

When the next major economic catastrophe strikes, there will be rioting and a dramatic rise in crime, as desperate people will do desperate things. Being able to defend your home and your family is going to become increasingly important. Get guns, combat knives and other items to help you protect yourself and your family. Start stocking up on plenty of ammo fast, because already there are widespread reports of huge ammunition shortages.

Another good advice would be to learn how to make your own ammunition and stock up on the needed materials.

Most Americans still are convinced that everything is going to be just fine and have blind faith that our leaders know what they are doing and will be able to fix things. But they are wrong. A great catastrophe is coming and time is running out.

How would you prepare for a financial collapse? Share your thoughts in the comments section below.
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  1. Trump could not be more on target. Wish I had the money to do everything he said. I was just recovering from a bad investment when the crash in real estate happened starting with retail in 2007.
    As a commercial broker, specializing in retail, I was never able to collect unemployment and retail is still soft.
    Plus he has the same dynamic strength as Putin. We need him.

  2. When you are poor, you cut back on spending! Pay off your bills, dumb, dumb. Do not borrow one cent! I went through one (1) bankrupt – C. I overextended my credit, over spent, and borrowed foolishly. Never again will I repeat the same mistake again.

  3. Just an an additional note on borrowing. When you use your credit card, you are borrowing! Therefore, at this stage of the game, the card should not be used UNLESS you can pay the amount charged off from your next paycheck or pension check, if you are retired. If you cannot do that, do without or find another way. Do not carry any debt that cannot be paid off within ONE month.

  4. it is great to have a review of things that you would really needed to
    have a decent survival… thanks.

  5. If Trump and all his billionaire buddies would pay their fair share in taxes we wouldn’t be
    “headed the way of Greece and Spain.” Look at your history.
    This is just a scare campaign to distract us from their greed and the Republican’s all out support for big business and material consumption at any cost. They are clanging gongs, who will never feel the pinch should things come down to the catastrophes they are predicting. If they really cared about this country they should get the lobbyists working to reinstate tax codes for the very rich that helped build this country . We are in dire need of renewed infrastructure to keep us a great nation. The middle class and the poor do not have the means to carry this off.
    What’s the real issue here?

    1. You can’t deny the old truism: “THEM that got, WILL keep!” Let’s face it…nothing is going to change from the old song phrase; “the rich get rich and the poor get poorer”. The control of wealth always stays with those that already have it. How can you consider that the “wealthy legislators and politicians” who are responsible for laying down the rules, could conceivably change any of the rules to give anyone a “chance” when doing so may jeopardize their own positions? There’s your answer…status quo!

    2. Obama has passed 8 trillion dollars to wasteful programs run by his rich buddies. These communists will never get enough from our tax money. Soon it will all end.

  6. What will happen to all the home mortgages if the banks close…who do we pay? Won’t “they” (Those that run the banks) be in the same fix as the rest of the country? How are they going to collect money or issue summons to pay?

    If a dollar is a dollar…then I could pay off my home with cheap inflated dollars right? If my dollars are in their bank
    then I could tell them to make a withdrawal for the full amount of the home that is remaining on my mortgage, correct? I would be paying them in dollars and if my remaining mortgage was $300,000 and I had that amount in the bank…they would be forced to accept that as payment, (even though the dollar was worthless on the streets).
    Please respond to this scenario, am I correct?

    1. Banks view mortgages as income-producing assets and they can sell them to other institutions if they so chose to. Also if a bank closes the FDIC would step in and oversee the sale of their assets to another institution. Your mortgage would thus be transferred to a different lender, but the terms would remain the same. If you have money in the bank that closes, you will not be able to withdraw the money and virtually lose it all. And the FDIC will be of absolutely no help as they are over-leveraged 400/1. This means they guaranteed 400 times the capital they have available.
      The mortgage will remain the same only if it’s a fix rate one. If you have a variable rate mortgage then it will increase in accordance with the inflation.
      The real problem in either case is that the cost of essentials such as food, water and electricity will go through the roof, cutting your buying power quite drastically and could make you unable to pay the mortgage rate.

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