Editor’s Note: Stories like the one below by Gary M. Galles are the reason that I’ve FINALLY done my due diligence with precious metals companies. I panned them for years, denying them from sponsoring my sites or shows. But I changed my tune when it became clear last year that our own government is working against the American people and in recent months that decision has been vindicated. The Biden-Harris regime IS working against us. They want us poor. They want our investments and retirement depleted.
They want a reason to “build back better” in preparation for The Great Reset.”
One of the reasons I was reluctant until last year to take on precious metals sponsors is because the vast majority of them support Democrats. Some of them work directly with proxies of the Chinese Communist Party. It’s an ugly industry that thrives on fearmongering and the suffering of Americans, so I stayed clear until about a year ago when it become necessary to research and vet out the companies to see if any of them were America First organizations. Out of over two dozen companies I checked, I found only three that don’t work against this nation.
Keep that in mind as you read through the article below. Unfortunately, the precious metals companies recommended by many other conservative and alternative news outlets are owned and managed by people who take your money and donate some of it to Democrats. I suppose that makes sense for some precious metals companies since tanking the economy benefits precious metals prices and Democrats are great at tanking our economy. I’ll only recommend companies that aren’t trying to destroy us, and sadly that’s barely over 10% of the companies I checked out. Here’s Gary’s article…
There has long been a cottage industry of telling Americans they don’t save enough. One of many Wall Street Journal articles in this genre, for instance, was Kelly Greene’s “Workers Saving Too Little to Retire.” The U.S. government’s AboutUSA.gov site even included “Save more” on a list of recommendations for citizens’ New Year’s resolutions.
But our government has long been waging war on savings, making it the cause of, rather than the solution to, low savings rates. As a result, Americans have fewer resources for investment, innovation, technological advancement, and education, which reduces real economic growth and citizens’ wellbeing. Recent policies have illustrated this to an impossible-to-miss extent.
For years, governments at all levels imposed COVID-related restrictions and shutdowns that forced vast numbers of Americans to draw heavily on their savings. Government “solutions,” like cash handouts before elections and higher unemployment benefits, only increased government debt, the financing of which requires that the government suck even more savings out of productive, private use.
The recent jump in inflation is the predictable effect of recent monetary policy profligacy, another part of government’s war on savings. Just ask any American who was faced with near double-digit inflation, but whose bank accounts were still paying interest rates under one percent.
Similarly, the President’s college loan proposal tells people to take past educational expenses they had already agreed to pay back out of other people’s pockets instead. Further, it tells them to borrow more for future education expenses as well, rather than to save for it, as they will be less likely to have to pay what they borrow. Saving less for college, and borrowing still more in order, ultimately, to raid other Americans’ pockets will also leave us with fewer resources to save.
But such recent sorties in the government war on Americans’ savings are just the latest in a long list.
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One huge policy-induced savings problem is that people have been led to substitute Social Security’s vastly under-funded promise of retirement benefits for funds they would have saved to finance their “golden years.” Not only do those Social Security taxes and future-benefit promises crowd out savings, but because promised benefits are trillions of dollars greater than current rates of taxation can sustain, people anticipate being “richer” in retirement than they will actually be, reducing saving even more. Those who save enough to provide well for their retirement also face income taxes on up to 85 percent of their Social Security benefits as well, lowering the rate of return on such responsibility.
Social Security exacerbates the crowding-out problem of government budget deficits, which take funds that would have gone to private investment and divert them to government. The federal debt has skyrocketed to “pay” for recent government “rescues,” but Social Security’s unfunded liabilities are even greater than the official federal debt.
Taxes on capital also reduce saving by reducing the after-tax returns on investments. These include property taxes that, while relatively small percentages of the capital invested, are sizable fractions of the annual income generated. Then state and federal (and sometimes local) corporate taxes take further bites from income, reducing the after-tax return still more. The implicit “tax” imposed by expanding regulatory burdens must also be borne, before earnings can go to investors.
Personal income taxes at up to three levels of government reduce saving even more. Investment income (what is left after other taxes) is taxed again, if paid out as dividends. Earnings from saving and investment can also trigger additional tax burdens like phase-outs of income tax deductions.
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If investment earnings are retained and reinvested, increasing asset values, they are taxed as capital gains upon sale. Further, there are substantial limits on using losses on some assets to offset gains on others, as those whose portfolios have taken big hits have been made well aware. And even increases in asset values that only reflect inflation, which is a far greater issue now than in the recent past, are taxed as if they were real increases in wealth. That can be a huge problem: in the 1970s, the real (inflation-adjusted) return on the S&P 500 was negative, due to high inflation. Yet people and companies still had to pay taxes, often at very high marginal tax rates, on illusionary profits.
Many other government policies also reduce saving.
Coverage from Medicare, whose unfunded liabilities are far greater than Social Security’s, reduces incentives to save for future medical costs. Further, current earners, who must cover three quarters of the cost, are left with less income to save. Medicaid (MediCal where I live) covers nursing home costs only after other assets are exhausted, undermining another motive to save (and has created an entire industry dedicated to gaming the system).
Unemployment benefits, along with food stamps and other poverty programs, also reduce the need to save “just in case.” This mechanism was recently supercharged with unemployment benefits that often exceeded what people could have earned in their current jobs. And as we have seen with any number of disasters, government steps in to assist those who proclaim they “need” it, reducing the incentives for financial self-responsibility.
Estate taxes also reduce successful savers’ ability to pass on assets to heirs, another major motive to save.
Each of these government policies acts as a disincentive to save. Together, they heavily punish saving, reducing it to the point that many do not have any appreciable savings (which many then claim is a “market failure” government must fix, rather than a government failure). And the recent ratcheting up of anti-savings policies escalates the policy war on savings, which is also a war on investment and economic growth. Truly addressing the savings problem doesn’t require more government involvement; it only requires that the government stop undermining our incentives to save in all the ways it does now.
Article cross-posted from AIER.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
