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Money and the economy are something that we made and we have no idea what it really is. Is it not weird that the dollar exists just because we collectively believe it exists? It is nothing more than a piece of printed paper, yet these pieces of paper can make or break people’s lives. It becomes even weirder when the recession or inflation pops up, why does that happen? Can’t we just make it all go away the same way we made it appear through sheer belief in money?

This question is completely logical, but the answer is pretty complicated because of the nature of money. Until there are more systematic changes to this monetary system, we must suffice with what we have. This means being ready for the recession and inflation which are unfortunately underway. The only way to get out of such messed-up situations is by being smart about it with these smart tips.

Gold investment

You probably heard about this tip before, but this tip has stood up to the test of time. If you take a close look at the impact on gold prices during the recession, you will see that they behave differently. In times of great instability, gold prices usually rise, and why is that? Gold was the standard for every currency before it was changed to the dollar standard. This change was not a good one, at all, because it only benefited the top 1% of the 1%.

When the dollar depends on our sole belief in the dollar, the prices can be manipulated with ease. Gold represents a finite source of precious metal and thus the price can be determined more objectively. This is not what the super-rich want, because they just want more and they do not care about the impact on their surroundings. Just take a look at the stock market, is that something truly objective or is it more or less orchestrated?

Other safe alternatives

There are other alternatives that are safer than others, but rarely they are as good as gold. For example, other rare earth minerals are also on the table when it comes to objective prices. However, none of them are as popular as gold, and thus are rare on regular markets. These include minerals found on meteorites or other minerals found in traces deep in the earth’s core. You can try and invest in these minerals, however maybe not during the recession.

 

It is very important to distinguish safe alternatives from the ones branded as safe alternatives. This means not falling for tricks that are way too common in the current crypto market. Crypto investments can pay off, sometimes, and only if you are in it for the long game. However, they are not as safe investments as crypto experts claim and there are examples of it. This is again, an example of a market that is being orchestrated in someone else’s interest. 

Do not panic

When the recession and inflation come, the most common reaction is to panic and panic a lot. Everyone knows that panic buying is the worst thing you can do, yet many people proceed to do so. Even if more and more people are aware of this, even just one person is enough to mess it up and buy 500 kg of sugar. Even when the worst thing happens, you should not panic, there will be food for everyone.

Unless you are reliving the great leap forward, you should not stock up like a maniac. It is always great to have a few extra groceries and canned food around, but not the whole supermarket’s worth. And of course, there is no reason to buy kilograms of toilet paper, there are no good reasons. Almost every country makes paper for themselves in their factories, and importing toilet paper is minimal. 

Do not make rush investments

During times of crisis, people tend to invest whatever they see first because they panic. Bad people really like to profit from crises because they have nothing better to do in life. Most susceptible people to this type of scam are usually the elderly, just look at the y2k scare. People flipped and everyone wanted someone to help them avoid losing their money when nothing happened. 

Besides rush investment, the next move is usually to withdraw all money from a bank. Cash is usually seen as the best option during these times, and unfortunately, it is very useful. However, this does not mean that withdrawing all of your money is the permanent solution. This just means that you should have some spare cash on the side if the worst does happen. Put it somewhere safe, not underneath your bed, and do not think about it unless you need to.

Stay safe

Your health and the people close to you are always your prime concern, even during unfortunate financial times. You should never forsake these two things when the worst appears because they are the ones that will hold you. 

Only through cooperation and staying safe can you sustain these damages. By forsaking your values for the monetary values, you lose what is really important in this world. When you think of doing something rash, first think about how it will benefit your health and the people around you. Your judgment will become much clearer when you have such things on your mind instead of red arrows pointing down.

This was just a brief introduction to the core things you should always remember and implement. People that have money like money and want more of it, that is just the way it is. Of course, there are people who are sick of the money that they have, but why don’t they use it for something? If the billionaires are such great people, why don’t they use at least a little percentage of their wealth to save others?

These are again, discussions that go way beyond this brief introduction to these smart tips. By keeping in mind these ways of thinking, you will be able to avoid much of the damage. However, this does not mean that the whole ordeal won’t be stressful, money is always stressful. This is why you should always use your brains and surround yourself with people that you trust if you want to make it.

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