Conclusion

Money is transitory and wealth is permanent. A lot of people
confuse money and think “Well, I have a lot of money so I’m
wealthy.”
In the short run, that may be true but in the longer run, the
money can go away. Wealth, on the other hand, is something
that prevails. The value of money may collapse, but there are
things you can do and strategies you can pursue to create and
preserve wealth that will survive a monetary collapse.
When everyone else is getting wiped out, just surviving is
coming out ahead. That said, I think it’s possible for you to
outperform most other asset classes and actually increase your
net worth in real terms in the process.
You always have to think about things in real terms. It’s
not enough to talk about things in nominal terms. The stock
market could go to 40,000. If the dollar loses 95 percent of its
purchasing power, what good is Dow 40,000 if the dollar is
only worth a nickel?
That’s why it’s imperative you prepare now. You can’t wait
until the crisis strikes. A lot of things could cause the next
crisis. It could be a failure to deliver physical gold because
gold’s getting scarce. It could be a Lehman type of collapse of
a financial firm or another MF Global. It could be a prominent
suicide. It could be a natural disaster. It could be defaults in