1. Plant a John Wick garden in your basement. Plant plenty of gold, silver, diamonds, coins, cash. No credit cards, debit cards, bitcoin, or electronic finance crap. You don't want anything in your garden that can be wiped out by a crash, taken by scammers or a failing company. No art. That's only good when people have money to invest. If the economy craps out, people will choose to eat over owning Picasso or Van Gogh (and art tends to burn easily). Tell no one about your stash.
2. Know the bank rules in your country. In America you may not want to put more than $250,000 in any one account but you can have multiple accounts in numerous banks. Open ten accounts in each of the largest 3 to 5 banks in your state. Those are the banks the state uses and will be the ones they desperately work to keep solvent when everything else goes belly up.
3. Get out of the city. Buy land. (They aren't making any more of it.) Set aside a portion for farming and livestock. Hire people to work it. When everything else crashes and people are pouring out of the cities looking for work, you have a place to live comfortably and eat well.
4. Now you're insulated from all the bad things so play around, have fun. Invest a little (or a lot) and hope for the best.
In just the last one hundred years, we have seen the effects of Hyperinflation in Germany 1922-23 when Germany was printing money with no backing. The exchange rate between the dollar and the Mark rose to one trillion Marks to one dollar, and a wheelbarrow full of money would not even buy a newspaper.
We've seen the Great Depression when stocks on the New York Stock Exchange lost 50 percent of their value. As stocks continued to fall during the early 1930s, businesses failed, and unemployment rose dramatically. By 1932, one of every four workers was unemployed.
Today European analysts are saying capitalism is dead (or dying). They point to the giant corporations that posted record breaking profits during the pandemic as proof. Its named Greedflation and its the only way record profits make sense when so many things were unavailable or in short supply.
Too, capitalism only works when there is competition to keep prices down. When giant corporation buys up the competition and control a huge percentage of the market, they can set the price to whatever they want leading to record profits in the worst of times.
Government slaps their hand and takes a mere pittance of the profit as penalty while giant corporation laughs knowing they still made more even after government fined them. And there is nothing to prevent them from doing it again and again and again.
In Europe we're seeing talk of instituting government price controls (which didn't work well in the gas shortage in 70s America). But unless we find a solution, young people should be concerned about economics, since these are going to shape their future, their ability to provide for themselves and their family, and the availability and costs of the basic necessities.
These things affect all of us, not just those with 840 million USD.
G
