Ancient & Beloved Story Echoes Warning (Preparation Parable)

There is a beloved story that has touched the lives of countless people for thousands of years, echoing warnings for today. It is the story of Joseph, the Prince of Egypt. The story is beloved by Christians, Jews, Muslims, and even Hollywood.

The story of Joseph took years to unfold. Joseph's brothers betrayed him and sold him into slavery. An important man in Pharaoh's court purchased Joseph. Although Joseph was righteous, intelligent, and trustworthy, he was falsely accused of attempted rape and thrown into prison. After sitting in jail for years, Joseph was summoned to interpret Pharoah’s dreams about an upcoming famine. Pharoah was so impressed with Joseph’s interpretation; he liberated Joseph from the pit and made him the viceroy in charge of Egypt’s strategic famine preparation. Joseph stored 20% of the nation’s resources for seven years to prepare for seven years of famine. His foresight to prepare enabled him to save the world and his family when the famine arrived. 

The Bible records a fascinating development as the famine progressed (Genesis 47:15-25). Two years into the famine, people from every nation came to Egypt to buy grain from Joseph. After the money failed, the people sold their livestock to get bread. They sold their land to get bread when they had no more livestock. When there was nothing left to sell, they sold themselves into slavery. They gave up everything to the government for some bread.

Essentially, each step of financial collapse provoked a philosophical and social change. When the people sold their livestock, they gave up their means of production. When the government controls production, that is called socialism. Next, they gave up their personal property. When the government controls production and property, that is called communism. Finally, they voluntarily became enslaved, willing to do whatever Egypt required. The story ends with the people embracing fascism in exchange for bread. 

The change was progressive, subtle, and took years. There are many lessons in the ancient tale, but the unprepared eventually needed to accept tyranny. Most people know the dollar is in real trouble, and the current politics are becoming increasingly socialist. Over the last few years, the government passed out stimulus checks so people could continue to eat. The people were looking to the government to solve their problems. Sound familiar?

The massive government spending resulted in historical inflation. History may not repeat itself, but it usually rhymes. Be concerned when people start looking to the government for support and favoring socialist policies. It is only a matter of time before attitudes and policies will move farther toward fascism if people feel their food security is diminishing. Most people are concerned about inflation and feeding their families. What is the predictable direction of politics and economic philosophies if people miss a few meals? The reasonable questions are who pays for those meals, and what ultimately will it cost? Are you willing to trade your freedom for a loaf of bread?

The theme of being prepared resonates through both religious and secular writings. Joseph was not the only famous Bible story concerned with being prepared. Noah was to build an ark to save his family and animals. Abraham Lincoln famously said, "Give me six hours to chop down a tree, and I will spend the first five sharpening the axe." The motto of the Boy Scouts is "Be Prepared."

Joseph was wise to prepare. His preparation positioned him to do more than survive during challenging economic times. Even after the currency’s collapse, he thrived, and so did his family. He didn’t wait until the last minute to begin preparing. That would have been reacting, not preparing. He was consistent and disciplined for seven years to save a portion of all increases and harvests. He saved 20% in tangible assets. Preparing is not expecting or hoping for the worst. Preparing is about being ready for the worst but hoping for the best. Isn’t this why people buy insurance? Most people don’t buy car insurance expecting to get into an accident. Instead, insurance is about mitigating the risk of a financial disaster.

Precious metals are the tangible asset people like to stockpile, like Joseph stockpiled grain. If the money fails, people will need something of value to buy food and the new currency. Gold and silver are the primary tangible asset people have stored wealth for thousands of years. Maybe 20% is more or less than the correct number for you. It is a very personal decision to determine how much one should put into metals. Most people do between 5-20% depending on their age, goals, and risk tolerance. Some people do more. There is only one percentage you should avoid at all costs. Don’t do 0%. 

What is a better idea? Being prepared or trusting the government will take care of you? Why not start saving a percentage of your wealth in precious metals? If economic famines come, you will be glad you did.

Call the U.S. Gold Bureau today.

(800)775-3504