The markets were smashed today!
I think the bulls took it on the chin today!
I'm starting to get the feeling that people are waking up to the fact that the Federal Reserve is clueless or very retarded.
I know, we all hear how they are boxed in. They are damned if they do and damned if they don't. I think they are ready to let the market go down and have convinced the dumb money to keep buying on the dips.
What happened to the plunge protection team, a no show?
Yahoo Finance
Stock market news live updates: Stocks slide to end April with steep losses, S&P 500 drops 8.8% in worst month since March 2020
source
They let the dow close down almost 1,000 points, I'ts strange because they like to keep it up over the weekend so it doesn't look so bad. This must have been some serious end of the month reshuffling in my opinion.
How can we protect ourselves from all of this madness?
We have to gamble a little and trade our dollars for tangible assets, this is a boring approach and not very popular. What I have been doing is getting things that I will always use and can be used for barter if the need comes for a short time. Just some examples are tools for working on cars, trucks, and any machines and equipment that will need repair. Dont forget about all your gardening needs, now is a good time to lean how to feed yourself and family!
I always stock up on booze and coffee, I think they will be harder to get with fiat dollars in the future. They will be good for trade and store very well. I almost forgot about firearms, the ammo will be hard to come by also.
I had to through in the get off my lawn NFT by @psyberx
I have all of that, now what should I do with my wealth today?
I'm not qualified to tell you what to do, so I will tell you what I am doing. My number one way to preserve your savings and buying power is gold and silver. I have been putting my savings into the metals since the monetary crash of 2008, when we had the big circus that started the quantitative easing that will never end.
After a person has built the base for their wealth and has plenty of cash put aside for a rainy day they may want to consider cryptos. I never had much faith that our government would let us use it, and I don't like how it's become a wallstreet favorite.
On the other hand it may be what saves us from the irresponsible spending that has destroyed the petro dollar. I think the folks on Hive and Leo finance are so much better off than 95 percent of the population.
In closing this ramble I want to say I think the quickening of the reset is well under way and the time to really prepare was yesterday. I believe everything strange going on in the world is leading us to this reset, I pray no war comes to our shores!
Thank you for reading my blog and have a great day!
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The way fiat currency is losing its purchasing power, it's scary. The figure of the fiat currency is the same, but it will not allow you to do things that you just did last year, you need to spend more.
Big institutions start using BTC as a hedge against inflation. I think BTC, gold, silver, and real estate can be the primary target to build wealth.
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It is scary, you almost have to spend it as fast as you get it. Thanks for stopping by!
Last Friday in Europe I bought shares of a known market maker. The decrease thereafter in the US + increased VIX will make me a happy man Monday.
Way to go @goldrooster, I guess you have to know where to look for opportunities!
The economic issues haven't been solved and I think most of it tends to be caused by the supply chain issues. So I am not surprised the markets got smashed. The numbers that the government is putting out are no longer positive and we even recorded negative GDP growth.
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we even recorded negative GDP growth.
This is a biggie, the recession talk has begun.
Ye.. pretty bad.. watch out mate!
Look out below!
Actually now is the time to take out a loan and get some real estate.
We are buying two tiny houses that can be rented out or used for own purposes
Good for you, some nice rental income never hurt anybody.
The owner of the houses just wrote me that he has to hold off the deal since his daughter might be interested in them. WTF haha
Sorry to hear that, o well, next time!
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We will see he still has no answer, I wish he had asked here before we started filing paperwork with our lawyer. Now I gotta pay him whatever the outcome...
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I think there is a case to stock up on barter able items. I'm stocked in canned goods, several weeks worth of Long Shelf life foods, medical supplies, etc. and waiting for a package of Heritage non GMO vegetable seeds in the mail.
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That's great, it sounds like you have it together. I've been thinking I need to get some medicinal herbs going too.
I even have some medicinal Cannabis seed for medical needs.
Haha, I should have guessed that one. (it works)
The markets are insane. I don't even want to look at my 401K... I want to add to my silver stack, but I think we might still have some more downward pressure on the market.
I know what you mean, I've been putting nothing but money market in my 401k for the last 6 months.
Stock up and stack up, @tbnfl4sun !
You know it sista, we are going to be ok!