Economic Collapse - What Do You Have That Is Worth Anything?

Are You Prepared?

Have you ever wondered what might happen if the currency in your country collapsed? For some, this has already happened, for others, it has yet to occur. I would bet there is a lot we could all learn from people who have gone through such an event and how best we should all prepare.

In the US, what would happen if the dollar completely collapsed? Everyday basic items would become the new currency. Instead of heading to the store to buy eggs, bread, or milk with dollars, we would have to trade for the resources we need using resources that held value to others.

_{(Stock/ Royalty Free Image Provided by Unsplash)}

We should all pay a great deal of attention to countries that are currently going through such an economic event. In these countries, they have to find new ways to survive and new ways of finding the resources they need for their day to day lives.

But, do any other us really know what might be considered valuable during an economic collapse?

What is it that we should have on hand that might be considered valuable to use as a form of barter? We have to remember, there would still be currency in use, but because of hyperinflation, our money would not go very far.

When the price of everyday items rises, and the value of your currency falls, we get inflation.

In 2018, the inflation rate in the US is 2.38%. Not too bad at all right? But, what if the inflation rate were to skyrocket overnight due to any number of economic events. What would you do if that same low inflation rate rose to 500% or 1000% overnight?

Such a collapse would not only affect what we buy but eventually, it would have a domino effect that would lead to more widespread issues. One thing is for sure though, our dependency on everyday basic resources would remain. But, at what cost? As the cost of these needed resources increased, people would start to hoard leading to significant pressure on the remaining supply.

So, what do you have right now? Do you know? How many people buy food, water, or other essential supplies only weekly? If you only have what you need for a week or less, and such an event happened, would you be in trouble? What daily resources do you use that you would desperately need if you ran out? Eventually, we would all run out depending on how long any such event lasts. Then what? This is when it would be our ability to trade and barter for the resources we need that would become paramount.

_{(Stock/ Royalty Free Image Provided by Unsplash)}

Trading and Bartering

As with all preparedness plans, you not only need to consider basic supplies to have on hand in case of any long-lasting emergency, but you also need to have resources on hand to trade. If you don't, you will eventually have to trade resources that you need for survival. Do you want to trade what you also need? If not, it will be important to prepare ahead.

Items to Consider

Here are a few items to consider that should be added to your bartering supplies.

• Alcohol
• Batteries
• Baby Supplies
• Candles
• Can Openers
• Cigarettes
• Coffee
• Construction and Repair Tools
• Duct Tape
• Feminine Hygiene Products
• First-Aid Supplies
• Flashlights
• Foods
• Fuel
• Lighters and Matches
• Medicine
• Pasta
• Powdered Milk
• Propane Gas
• Seeds
• Soap and Shampoo
• Solar Lights
• Tobacco
• Toilet Paper
• Vitamins
• Water Filters

Many of the above items have held value in the past when such an event has occurred. As you look to stockpile items to barter, consider what you would want. Look at what your neighbors or friends might need also. There will be many similarities and some differences. Anything anyone might need is a possible trade item. What you are looking for, however, are items that might be considered highly valuable. Supplies will run out quickly and you want to get what you need and trade resources you and your family don't. Those are the best resources to store. That way, you are not putting your and your family's security at risk.

Being prepared is insurance, just like life insurance. We hope we will never need it but it is great to have just in case you do.

_{(Stock/ Royalty Free Image Provided by Unsplash)}

Enjoying my content? Please help support my efforts by resteeming.
Thanks So Much - Liquidtravel