As an executive with a multi-billion financial institution, I am a financial insider (boo, hiss). I also believe in preparedness. I believe that I have some insights into the money side of preparedness that you might want to consider. I will not delve too deeply into the fragile nature of the global financial system, but I will share my biggest concerns without going into detail:
• The fractional reserve banking system allows your bank to create money out of thin air
• The central banks of the world are creating unprecedented amounts of money out of thin air
• Fiat currencies are not real money
• The central banking systems of the major nations only exist to prop up large commercial banks and do not care about citizens
• There is an enormous amount of leverage in the financial markets, government balance sheets, shadow banks and the average household
• Some private equity firms operate in the shadows, taking enormous leveraged bets which can shake fixed income markets when their bets go bad.
• Regulators are incapable of understanding the risks being taken by the firms that they regulate
But enough about what keeps me up at night. My primary objective of this article is to share my thoughts with you on appropriate financial preparedness strategies. I will not go into the non-financial aspects of prepping, of which you are all so familiar.
I was oblivious to the concept of prepping until the 2008 to 2009 global financial crisis. It shook my beliefs about money and the financial markets to the core. During this crisis, I became “red-pilled” and started to question everything that I believed about our government, the financial markets and money in general. I realized that many of the concepts that I thought were ridiculous conspiracy theories, were not. I was very concerned about losing my job and realized that I would be in big trouble, if I did. I had way too much debt, very little savings, no cash on hand, no silver, no gold and only enough food in the house to last about a week. But I took the bull by the horns and started my various financial and non-financial prepping efforts during the depths of the financial crisis.Continue reading“Money, Finances and Preparedness, by Mr. Zipph”


