Foreclosure nightmare, and currency wars

Welcome to another installment of the Be Prepared Channel blog. Well this past couple of weeks has been interesting. We see the major banks getting called on the carpet on foreclosures. It appears that they don't have a clear title to many of these loans. They were in such a hurry to create these securitized products for the derivatives orgy that they didn't consider the idea that they wouldn't be able to produce or show a clear title or even a real legal claim. Some states are trying to stop the foreclosures on a technicality regarding reading the paperwork before filing the paperwork to foreclose. So the plot thickens. Banks are still bellying up to the 0% interest money and investing it in treasuries, and stocks pushing the markets higher. Now we hear that the Federal Reserve wants to turn on the pumps to dump more money into circulation.

Some are saying that this puts the banks right back in a bigger mess than what we started with 2 years ago. I frankly don't know if the rumors are true, but it would appear that if the banks were required to buy back these mortgages they wouldn't have the cash and they will be bankrupt once again and we will once again be told we have to bail them out... I say we man the pitch forks, tar, and feathers just in case this happens.



Currency War
Well folks it appears a full fledged currency war is under way with everyone fighting on a race to the bottom. Everyone trying to make sure their currency is weaker than the other nations. China says they plant to revalue the Yuan, but they want it done slow and gradually. Well of course they do! They are milking everyone else and are in the top dog position. So it appears we have the makings of a full fledged currency crisis globally. Our dollar is falling in value fast, and if the Chinese are force to make changes faster than they want you can expect everything you buy to go up in price dramatically. Commodities such as food and energy are already on the climb. I suggest that if you don't already have your food storage plan in full swing and have a fair amount of food stored you may want to think about it. Costs are only going up from here. This is going to be a long slow emergency. We used to say our kids and our kids kids will have to face the messes that have been made, but it looks like we were wrong. It looks it we will get to pay the piper.



Prepping basics:
Just remember that being prepared starts with the basics. You should have the following in your basic plan and build from there:
1. 90 days emergency cash on hand and in your possession.
2. 90 days food storage
3. 1 week of water storage

Once you get to that point then you can start to worry about the other stuff that is important. There are a million things that need to be done, but start by keeping it simple. Once you have the basics in place the rest will fall into place as you start looking at other pressing issues. These are the minimums we should have in place. We can then shift to things like precious metals, energy security, and disaster planning. If you don't have the basics in place then it is time to get busy! Our time is running out to get these things done.

God Bless,
Longsnowsm