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A World without Money – Lessons from Ukraine

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The Crimea Microcosm

There is a saying, “What is going to happen tomorrow already happened yesterday.” A more common saying is from King Solomon, “There is nothing new under the sun.” These sayings are as true today as they were thousands of years ago. That’s why we should not be surprised when the day comes that there is no money.

There have already been 150 failed currencies in the modern banking era. To put it another way, money has become worthless 150 times in recent history.

I’m going to let that one sink in for just a minute.

It’s possibly happening right now, again. All the banks in Crimea are out of money as bank runs are happening as I write this. It’s not just Crimea, all of Ukraine is afraid and suffering from bank drains.

According to

“On the heels of concerns by the head of the central bank that moving cash in Crimea was difficult, ATM withdrawal limits have been cut. People in long ATM lines are reported to be concerned because ‘banks are closing’ but it is Deutsche Bank's comments this morning that raised many an eyebrow as they suggest that Ukraine's debt is pricing in a ‘burden-sharing’ haircut for bondholders (which as we have seen in the past - in Cyprus - can quickly ripple up the capital structure and become a depositor haircut).”

Crimea is now living in a world without money, and the rest of Ukraine is not far behind. So what does a world without money look like? How does someone survive?

While you watch Crimea in the news because of their political situation, I urge you to also watch to learn about the future; the future when there is no money. If I’m right, the world without money is coming soon for all of us. Watch the citizens of Crimea to see how they survive and see how you can prepare.

For those who are saying, “Yeah, that’s just in Crimea. That doesn’t apply here.” Pay attention to what’s happening around you. Bank of America limited ATM withdrawals over the holidays. That’s not insignificant. HSBC in England has restricted how much patrons could withdraw at any one time – again, not insignificant. Our CFO, who’s originally from England, knows of someone who was told he needed a note from a seller that he was, in fact, going to use the withdrawn amount to purchase a car. How did the bank spin it? “It’s for your protection.” That’s how far it’s come. It’s your money but they are essentially approving how you use it.

It’s already happening all around us. It just takes a new perspective to see what’s going on.

For me, I am focused on goods and materials that are needed, not just wanted. I am following the 5G Principle: Guns, Gas, Grub, Ground, and Gold. I’m also thinking about the friends I want with me when cash disappears. Do they know how to shoot a gun? What skills do they bring to my team that helps our survival?

For many, taking these precautions seems overly paranoid and crazy. Fine. I understand that point of view. I’d rather be prepared and not need the 5Gs than to not be prepared and need them. I’m only here to provide you with different points of view. It’s on you to enact the points that make sense to you. I always say, “True genius is being able to accept two points of view and still be able to function.”

As we watch the Ukraine, we’ll see Maslow’s laws in action. Once the base needs of food and water are depleted, civilized behavior and morality will disappear. The survival instinct will take over and the world will become a violent place where only the bold survive.

I hope the stress in Crimea calms down and stability is restored. While it’s going on, I urge everyone to watch carefully and use it as a lesson of what to prepare for when the world is without money.

Original publish date: March 17, 2014

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