Two Letters Re: Hyperinflation is Coming: 10 Basic Steps to Surviving an Impending Currency Collapse, by S.P.

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HJL,

In reference to the article “https://www.survivalblog.com/2014/04/hyperinflation-is-coming-10-basic-steps-to-surviving-an-impending-currency-collapse-by-sp-part-2.html“, the author speaks about selling on eBay and using PayPal. I must advise your readers that this is indeed a good idea, however, please be informed about the rules and regulations dealing with taxes. There are limits as to how many items/listings you can sell and how much money you gain prior to them being reported to our favorite entity– the IRS. There are a few things that can be done, such as selling in lots. For example, if you have 10 dolls, rather than selling each one individually they can be sold in one lot; this would count as one, not 10 listings. Also if any limits are exceeded then you would have to abide by your specific state laws regarding a small business license and all the fees that go with it. I’m just saying, do your research on both sites. Great article by the way.

o o o

Hugh,

Great article although one thing jumped out about “STEP 3: Liquidate Useless Items to Generate Extra Cash” and the example of selling off old clothing. That is a great idea as long as you are buying things you need, BUT those old clothes might be worth more in hyperinflationary times than they are worth today. We are already seeing a surge in consignment stores of all types as the cost of living has escalated.

It is a good idea, just be careful on what you sell as the future values (monetary or barter) may surprise you. Thanks – B.M.

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