I’m not suggesting that there will be a monetary collapse in our near future, but such a thing can never be ruled out. With recession seemingly near for Russia, it’s hard not to reflect on our own financial woes of 2008 and 2009. As Russia struggles to support the ruble, rating agency S&P has projected a 50% likelihood that it will downgrade Russia’s credit rating within the next 90 days. While this news doesn’t guarantee that Russia will enter a fiscal depression, or take us down with them, it does make you wonder just how fragile the global economy can be. Are we nearing another drop too? I’m no economist, nor a fortune teller, but here are ten things I’m glad I have on hand now, whether there’s a financial collapse or not.
1. Food: Food is the great equalizer. The great and the lowly need the same number of calories, and we can’t all hope to have roasted squirrel every day if the dollar becomes worthless. Long lasting, shelf-stable foods that are easy to prepare are at the top of my list for important supplies. This could be canned food, freeze-dried meals, MREs, or dry goods. Find out now what your family would eat and how you’d prepare it if you couldn’t afford utilities. Then stock up and keep the food in a secure, dark, cool, dry location.
2. Ammunition: Vital for self-defense, hunting and as a trade good, ammo is a solid investment because its value continues to rise. Keep it dry and keep it handy.
3. Medicines and first aid supplies: Medical care may be in short supply during a full-scale financial crash. The knowledge and supplies to take care of your own medical emergencies could be lifesaving.
4. Junk jewelry and silver coins: Thinking about trade goods? Jewelry was a handy currency during the Argentinian economic collapse 14 years ago. It doesn’t have to be pretty stuff, it just needs to be precious metal. Items that have a good “melt value” and some historic value (like Morgan silver dollars) could other trade options. Keep this stuff hidden and safe, and dole it out a little at a time so that no one knows how much you really have.
5. Water filters: These will always be valuable items, even more so if providing safe water to your family becomes difficult. Water filters come in a variety of designs. Small ones that are suitable for backpacking will meet the needs of one or two people well enough. Gravity-fed bag systems and tabletop systems work well for families and groups.
6. Alcohol: Crisis situations can see more drinking than during the holidays, as people turn to the bottle to relieve their stress. Most wines only get better with age, so sitting on a few cases is never a bad idea. Liquor doesn’t change much over time and can last a long while as both a form of liquid courage and a fine disinfectant. Beer is the only common kind of alcohol that doesn’t store very well. However, its raw ingredients do last for a long time and home brewing is easy and fun.
7. Animal traps: Rabbit traps fed my dad and his siblings during the Great Depression, and there’s no reason these devices can do the same again. A variety of snares, live-catch box traps, and foot-hold traps could put meat on the table in the worst of times.
8. Fishing gear: Just as the traps can provide valuable protein for your family, so can fishing equipment. Even in the dead of winter, crappie and trout are just a baited hook away.
9. Tools: As economies turn down, crime rates rise. My mostly rural county is experiencing a near record rate of break-ins and robberies of late. Tools can be necessary for “hardening” your home, repairing the damage done by looters or burglars, and a wide range of household chores.
10. Camp stove and fuel: You won’t always be able to fire up the grill on your deck or patio during crisis situations. And if your neighborhood is full of starving people, do you really want the aroma of delicious food wafting down the street? I think not. A camp stove and ample fuel will allow you to cook in a well ventilated garage or a similar breezy space. Alcohol stoves are the friendliest for indoor use due to their cleaner burn, but they’re slow to cook food and require a lot of fuel.
Leave us a comment to tell us what you’d want to have before an economic crisis.