The Automatic Earth
I just came across this fantastic Blog site dedicated mostly to an Economic and Financial analysis of the scenarios around Peak Oil and energy depletion. Before you start yawning and pressing buttons, have a look at it.
It’s very practical and gives a lot of sound advice on how to make your family financially ready for a Post Peak oil world. Its filled with gems of predication and wisdom. With some very “real” black and white historical photos of the American Dust Bowl and 19th century industrial America.
The main author, Nicola Foss, who writes under the pseudonym “Stoneleigh” lives on a forty acre farm in Ottowa, Canada. She really does practice what she preach’s. She and her family are pretty much self sufficient in energy, water and food. She has given seminars to many British and Irish institutes, including Feasta, our own Irish resilience “Think Tank”.
I was particularly interested in her article on “How to Build a Lifeboat”. She discusses the best ways to secure your Personal, Family wealth in the face of massive deflation and a possible breakdown of the banking system. I have included a small extract below.
This is the list we have run periodically for dealing with a deflationary scenario. In short):
1. Hold no debt (for most people this means renting)
2. Hold cash and cash equivalents (short term treasuries) under your own control
3. Don’t trust the banking system, deposit insurance or no deposit insurance
4. Sell equities, real estate, most bonds, commodities, collectibles (or short if you can afford to gamble)
5. Gain some control over the necessities of your own existence if you can afford it
6. Be prepared to work with others as that will give you far greater scope for resilience and security
7. If you have done all that and still have spare resources, consider precious metals as an insurance policy
8. Be worth more to your employer than he is paying you
9. Look after your health!”
The main text of the article can be found Here. I would encourage you to read the full article, some of it you may be able to implement in your own lives. Some you may not. The greatest value in lists and action items like these are to provoke thought about how you might prepare your own family and community for financial troubles ahead. Just in case the IMF, ECB and EU, don’t get us out of this financial crises. Here’s hoping.