What you can do during a depression Weather volatility by owning your food supply Prepare for the volatility of currency depreciation by owning your own food supply. In a depression the price of basic items such as food and other necessities might increase dramatically because os sudden depreciation of currency. it might be a great idea be prepared by owning your own food supply. grow your own vegetable if you have a garden and raise fish, as it takes up very little space to do so. This will dramatically reduce your food bill and make you less affected by dramatic increases in food costs. Owning a small farm, or poolong your resources with others to own your own farm, will be great way to protect your family and others close to you and ensure consistent food supply. Keep ready cash at hand keep some of your resources in ready cash that is easily assessable. During a depression there have been runs on banks, meaning everybody flock to the banks to withdraw their money.
If you are one of the later ones trying to do this, you need to be aware the banks can run out of ready cash as they don’t keep the exact amount of money you’ve deposited. This is due to banks fractional reserve lending system and heavy involvement in electronic tansactions. You need to keep some cash readily accessible to you and your family in a safe and secure location close to you. A home safe or safety deposit box in a secure location are good ideas to think about. Your cash must be close by and in an accessible place as you may need to get to inn case of an emergency. Hedge against currency devaluation with some precious metals Hedge your cash against currency devaluation by converting some to precious metals such as gold or silver. There is often of lack of consumer confidence during a recession and this can also affect the values of currency. Most currency today, including the US dollar is no longer backed by gold. In the past, to print money, countries had to have the reuired store of gold deposits to back the currency. This is no longer the case with many countries relying o goodwill and public and business perception of their currency and because of this currency depreciation is a real threat. In a depression scenario it would pay to keep a portion of your resources in gold and silver. When I say this I mean actual physical gold and silver, not paper ownership as some organizations are trying to sell you.