Home > Family|Finances > Finances > What Will You Do When Financial Chaos Happens? Part 2

What Will You Do When Financial Chaos Happens? Part 2

Published Feb 22, 2005

DUMPies are destitute unprepared mature people who had “confidence in the system” and who were “sure everything will work out all right.” But their faith was in the wrong place.
          
My view of the immediate future is one of gloom but long-term it is glory! However, we must live in the here and now, and Christians would be wise to plan for “hard times” because hard times are  coming.
          
I expect many large corporations, banks, S & Ls, and insurance companies to go belly up. If one has money, he should diversify. In fact, rather than have savings or CDs in banks, I would have some in Swiss annuities.
          
Swiss insurance and annuities are 100% funded by a currency not backed by gold but “as if it were.” There is no reporting to the IRS or any other agency and no taxes are paid until one receives payments, usually when one is much older and is required to pay less taxes. These financial instruments are easily purchased (at the present time) from US representatives—at no commission although Swiss companies may not solicit business in the U.S. One may buy directly from Swiss companies or use a U.S. rep. The interest on Swiss annuities is higher than what U.S. companies are paying.
          
My point is to do what the very wealthy have done for 300 years: send some of your money where it is safe. Often the very wealthy are greedy but they aren’t stupid. They send their wealth outside the states before the blood flows in the street—Wall Street, that is.
          
Our problems are not exclusively American. Japan had been sinking into recession for many years after many of their high dollar U.S. investments went south a few  years ago. You may remember that Japan walked away from their investment in Rockefeller Plaza. Recently,  Japan’s large banks have improved their financial standing.
          
Japan is the lender to the world—the source of 60% of the world’s loans. Where will the money come from when Japan dries up like an old Jersey cow?
          
The party is over in South Africa and disagreement, disdain, and distrust rule the day. The silver lining is gone and a dark cloud hangs over the nation that liberals put such hope in. Mandela promised homes and jobs and was not able to produce, and the natives are restless on the reservations. It is a nation of malcontents, and any small spark could set off a powder keg that would reverberate around the globe.
          
Mexico has problems in at least 14 states besides Chiapas. Two political assassinations and about 200 extortion kidnappings have not helped stabilize the nation where the peso was devalued in 1994. The U.S. bail out was too little too late. I expect massive bankruptcies, social unrest, assassinations, political corruption and general turmoil. And it is folly to think it will not cross the Rio Grande. Everything else has!
          
Putin may lose control of Russia and a new “strong man” may appear who will try to reconstruct some of their losses after Communism’s collapse. I see many more problems between Russia and former members of the Soviet Union. Many of the “republics” have “former” Communists in the driver’s seat, and they can’t drive  since they always turn left! Plus, the Russian mafia is almost running the nation. It is sure running many of the banks. Bribery, political corruption and intimidation are widespread. Not only could the economy collapse, but anarchy could be their future.
          
Of course, there are massive problems in France, England, Germany, etc. The dark cloud covers most of the world indicating a storm is coming. Make reasonable preparations, and lash yourself to the Mast. Finally, be of good cheer for the Son is above the  storm!

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