Recently, a retired worker popped into the front door to ask, “Mark, have you heard about the Coming Monetary Collapse?”
This, of course, was news to me. It eventually became apparent that this “news” came from an advertisement on the Internet. We see these ads every so often on financial news sites. They seem to look like reputable-looking news articles but in the end they always try to sell you something, typically expensive subscription services that will supposedly help you sidestep the “inevitable” collapse.
If someone actually knew enough to forecast an impending financial downturn, they wouldn’t need to be selling you advice in order to get rich—they’d already know everything they needed to make themselves rich beyond their wildest dreams. And if the collapse was all that catastrophic, all of that money wouldn’t do them any good anyhow. If you were convinced a worldwide monetary collapse was coming, here’s what you should invest in: canned food, ammunition, and generators. You don’t need expensive books and online seminars to tell you that.
(Incidentally, clients have told us about friends of friends who were convinced of global collapse and tried that investment strategy years ago. Last we heard, they were trying to sell used generators to rebuild their retirement funds.)
These sales pitches are often dressed up as actual news articles, but they’re pure scare tactics. They want to sell you something, and instead of promoting their advice on its own merits (it has none), they are trying to play to your fears.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.