The Great Reset

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I don't think that there is anyone who will disagree that the world seems to be descending into chaos. What is particularly alarming is that, world-wide, issues are emerging with the banking system which, previously, were unheard of. There are reports out of the U.K. that people could not access their accounts from their phones on Black Friday of all days.

These issues have surfaced in the U.S. as well. Silicon Valley Bank collapsed completely nine months ago and now there are numerous reports of account holders not being able to access their funds. On a personal note, my wife has been stacking one of the ISO20022 compliant digital assets and, though there is money in her bank account, she is now unable to effect further purchases. At the branch level they are unable to offer any explanation whatsoever as to why the attempted purchases have been blocked.

Observers have suggested that we are in the midst of a liquidity crises. As prices continue to rise, people are increasingly unable to service mortgages, car loans and credit card debt. Banks are stuck holding the bag, as it were, on all of these fronts. To compound the problem, as the bond market continues to collapse, banks find themselves in the unenviable position of holding paper that continues to decline in value.

Applications to close branches in the U.S. are at record levels. Bank of America intends to trim it's work force by 24,000 jobs! So many commentators have pointed to the problems in the banking sector. In response, the narrative that revolves around possible "bank runs' is gaining momentum.

We are starting to see that the real estate bubble is beginning to burst. Prices in San Francisco, for example, declined 15% in the third quarter and 12% in Seattle. We see this trend in Canada as well as people are selling their homes in Ontario and moving out to the east coast. Declines in home prices are beginning, especially in high-priced markets like Toronto and Vancouver.

On a commercial level, vacancies in the office-space segment of the market are at record levels. Owners of these properties are feeling the pinch from a high vacancy rate on the one side and high interest rates on the other. Bankruptcies in the retail sector are high and that trend is expected to rise. It has been suggested that even retail giants like Target may be on the verge of collapse.

Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy back in April. “Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations,” a statement at the top of the company's website said Sunday morning April 24, 2023. The first nine months of 2023 have seen other big-name retailers including David's Bridal and Party City file for bankruptcy.

Strategy Moving Forward

I did a post a couple of weeks back on a trend that is becoming increasingly visible and that is 'homesteading'. People are beginning to trade the hectic and expensive life in the city for the less expensive, and simpler, life in rural areas.

It has been suggested that, as a way to insulate yourself from runaway inflation, one strategy would be to stock up on commodities. Buying gold has, traditionally, been one way to hedge against inflation since it has been seen as a stable source of value. But other simpler commodities can be considered such as food, fuel and other supplies needed around the home, I did a post four weeks ago on this topic for those who are interested in the economic factors that are contributing to this economic decline.

A Perfect Storm

On the same day, I did another post where I suggested another, alternative, way to hedge against what many are predicting to be a serious crash in the economy. Though I am not a financial advisor and the material presented should not be construed as financial advice, here's the link.

The New Quantum Financial System

It is at the risk of sounding alarmist that I offer up these comments for your consideration. However, everyone is awake to the clouds forming on the horizon. One trip to the grocery store is enough to convince anyone that things are beginning to unravel. Food banks report that they are under increasing pressure to service the need.

Make no mistake about it. Max Egan has suggested that there will be, almost certainly, significant social disruption in response to what is about to unfold. I cannot say that I disagree. The real question is how to properly and adequately prepare for what is most certainly an approaching economic cataclysm.

There are resources in abundance available to help you. As an example, there are a proliferation of videos on YouTube from 'preppers' who offer up some very good suggestions as to how to prepare before the shtf.

Time is running short. Do your research. Find ways to prepare yourself and your family for what is shaping up to be nothing less than economic and social upheaval.

Addendum

As a post-script, I have attached the link to a YouTube channel I follow "Epic Economist". This video is a review of the biggest names in restaurants in the U.S. to file for Ch. 11 bankruptcy.

Epic Economist

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Recent Comments

32

Hi,there I read your blog post with great interest and concern. You have painted a grim picture of the current state of the world economy and the banking system. You have also provided some alarming facts and figures to back up your claims. I appreciate your honesty and courage in sharing your views and experiences.

I agree with you that we are facing a perfect storm of multiple crises that are threatening to collapse the system as we know it. I have also noticed some of the issues you mentioned, such as rising prices, declining home values, and banking glitches.

I’m curious to know more about your strategy of homesteading and stocking up on commodities.

Thank you for sharing your insights and resources on the world economy and the banking system.

I think this is a crucial topic that everyone should be aware of and prepared for. I look forward to reading more of your posts and learning from your perspective.

Cheers!

Thank you for commenting! My wife and I began buying in bulk when things went on sale at the grocery store. We bought a front quarter of beef at the local butcher. We also have our own gardens and last summer's crop was a good one. I built my wife a pantry to store dry goods and we have four freezers. We save all our plastic bottles to save water. We have a huge potato field about 100 yards behind our house so, when the farmer's big equipment left we went pickin'. I hauled four wheelbarrows of potatoes out. It's amazing how much is left after the farmer leaves and I wouldn't have believed it if I hadn't seen it myself. We have two apple trees on our property so Penelope cooked the potatoes and mashed them, baked them and french fried them. The apples we made apple sauce and apple slices and we froze all of it using freezer bags...Yes the economy is going to get ugly but I believe there is much good news on the other side...so ...in the meantime we ride out the storm...We don't have to drive into town now until the end of March.

Wow, you and your wife are very resourceful and prepared! I admire your self-reliance and your ability to make the most of what you have.

You must have a lot of skills and knowledge to grow your own food, preserve it, and store it. I’m impressed by how you built a pantry and saved water in plastic bottles

. You also sound very grateful and optimistic about the future, despite the economic challenges. I hope you enjoy your delicious potatoes and apples,

and stay safe and healthy. Thank you for sharing your inspiring story! 😊

So kind of you to say...yes we are grateful and optimistic for what the future holds...and yes the 'taters are awesome! :D

Awesome Grant

Interesting post, Grant. 👍

My wife & I lead a comfortable but relatively simple life. We enjoy the simpler things in life, like family and friends, and don't spend money unnecessarily on trendy items.

I have always believed that simplicity can enable happiness.

More than ever, our children need simplicity and happiness in their lives.

Frank 🎸

You know Frank, before we moved here our lives were hectic and cluttered. George Carlin must have had us in mind when he did his skit on 'more stuff'. We have to rid ourselves of most of that when we moved here. Our pre-fab is only 900 sq. ft. on one acre. So much simpler and so much better. Never been happier in my life! Less is more as they say...

That’s a fabulous outcome, Grant! 👍👍😎

Frank 🎸

You know Frank, I was always caught up in more, more, more...many of those caught up in what I do die of heart attacks at their desks...this move, made of necessity, has changed my entire perspective on life...now I wouldn't trade this lifestyle for the world..yes it's physical maintaining the property and the gardens and our two dogs...but i'm feeling better than I have in decades...(and my pants don't fit anymore...had to get a new pair...)
:D
Grant

Outstanding job, Grant! 👍👍😎

These are beyond troubling times, Grant. I appreciate your thoughts on the matter. There is no being too prepared anymore.

Susan

100% and thank you for commenting Susan. I believe there is good news on the other end. The key is to navigate the crash successfully in the meantime...

Grant

You are right, Grant. That is why I am so tight with the money right now! Things have gotten worse all over, in my opinion! We must be vigilant!

Jeff

Penelope and I started buying in bulk when items went on sale. We won't have to go into town now until the end of March. The hope is that all of this will have blown over by then...but, until then we just have to weather the storm....we'll see what unfolds.

Grant

Same here for the most part, Grant! We have to be very vigilant!

Jeff

Thanks for this, Grant.

JD

These are just my opinions of course but I have been following developments quite closely over the past 31/2 years. I am simply parroting what others have said. I look to guys like Robert Kiyosaki, Gregory Mannarino, Warren Buffet and others all of whom are signaling choppy waters ahead...the consensus seems to be that it's going to be brutal...

It sure looks that way, Grant.

JD

Sadly yes...
G

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