It looks like the events around coronavirus are there to cause a recession more than anything else…
It may be worse than that in 2008.
To prepare for a potential recession, here are two things for you to consider:
1. Withdraw cash from your bank account to last you several weeks
That’s in case if bank accounts get frozen.
2. Have some gold to cover your living expenses for 1-3 months
That’s in case if the world moves to a new reserve currency that is backed by gold.
If that happens, the price of gold and silver would jump big time.
(The central banks around the world have been hoarding gold in the last 5 years).
Why on earth would the world move to a gold-backed currency? See the cycle of money here.
Where to buy gold?
Karatbars stopped delivering gold for now…
If you need to get more gold, buy in local shops in your town.
Or buy online from these reputable retailers (make sure they still do shipping).
If things will stay okay
If only minor things happen in the economy, you can always put that cash back and sell gold for fiat. So, you win either way!
Did you know:
Savvy and world’s wealthiest people hold only a small amount of their money in bank accounts?
Instead, savings and wealth are stored in gold, silver, other valuable commodities, and land.
Keep staying healthy and happy 🙂