(The Economic Collapse Blog)—The “hurricane of fire” that is ripping across Los Angeles County is already being called one of the worst natural disasters in the entire history of the state of California. There are actually several different fires that have erupted, and extremely high winds are spreading them very rapidly. The Palisades Fire, the Eaton Fire and the Hurst Fire are the three largest, and the destruction that they have already caused is absolutely staggering.
In recent years, large wildfires have become very common in California, but what we are witnessing right now is truly frightening. The following are 12 things you should know about the apocalyptic “hurricane of fire” that is rampaging through southern California…
#1 The Palisades Fire has already destroyed approximately 1,000 structures…
More than a thousand homes, businesses and other buildings have burned and at least two people are dead in wildfires scorching communities across Los Angeles County, making this one of the most destructive firestorms to hit the region in memory.
In Pacific Palisades, the Palisades fire had charred more than 5,000 acres as of Wednesday morning, burning down to Pacific Coast Highway where it engulfed homes along the iconic stretch. About 1,000 structures, including many homes, have been destroyed in the fire, L.A. County Fire Chief Anthony Marrone said during a news conference Wednesday morning.
#2 As I write this article, we are being told that the Palisades Fire, the Eaton Fire and the Hurst Fire are all zero percent contained…
Gov. Gavin Newsom has declared a state of emergency as firefighters struggled to control the fires, all listed as 0% contained. Photos from the scenes showed homes engulfed in flames, and thousands of residences were threatened. Much of Los Angeles was enveloped in smoke.
#3 Wind gusts of up to 80 mph are quickly spreading the fires from one area to another…
“Wind gusts are expected to peak at 50-70 mph across portions of Southern California, with localized gusts of up to 80 mph,” according to Fieweger. This would be the case for communities like Santa Clarita and Riverside. An AccuWeather Local StormMax™ of 100 mph is most likely in the mountains.
Many hurricane-force wind gusts were recorded as of Wednesday morning. “For example, Hollywood Burbank Airport recorded a peak gust around 9 p.m. PST of 71 mph,” AccuWeather Meteorologist Danielle Ehresman said, “Additionally, gusts approaching 100 mph were recorded above 2,000 feet in the Santa Monica and San Gabriel mountains Tuesday night.”
#4 Los Angeles Mayor Karen Bass cut the city’s fire budget by 17.6 million dollars…
So, how did something like this happen? Well, reports suggest the powers that be refused to fill the reservoirs. And get this—while this is all unfolding, we’re discovering that DEI Mayor Karen Bass made massive budget cuts to the fire department, which is really strange, considering one of California’s most popular seasons is literally called “Fire.”
Karen Bass cut the fire department’s funding by a whopping $17.6 million.
#5 “Mayor Karen” is not even in Los Angeles right now. As her city burns, she is in Ghana…
Furious Los Angeles residents tore into their absent Mayor Karen Bass, who was 7,400 miles away in Arica on a political trip as raging fires turned the City of Angels into an apocalyptic hellscape Tuesday.
“RESIGN! WHY ARE YOU IN GHANA?!,” one person commented on an X post by Bass’ office giving an update on the wildfires.
Bass traveled with three other people to Ghana for the inaguration of President John Dramani Mahama, who was elected last year.
#6 It is being reported that hydrants in the disaster zone are running dry…
Los Angeles fire hydrants are OUT OF WATER because the county REFUSED to refill reservoirs, per Rick Caruso
“You can’t fight a fire without water!”
The Mayor did ZERO prep despite the advanced warning of winds and fire risk.
This is EXACTLY what happened on Maui!
#7 Reporter Matthew Seedorff was actually there when a hydrant on Lachman Lane ran completely dry…
Around 4:45 p.m. Tuesday, a hydrant firefighters were using on Lachman Lane ran dry. You can hear what sounds like air pushing out, but no water.
#8 According to Amy Mek, the Santa Ynez and Upper Stone Canyon reservoirs were not supplying adequate water to hydrants…
How is it possible that in fire-prone Los Angeles, hydrants—our first line of defense—are dry when they’re needed most? Homes are being reduced to ash, not because firefighters lack skill or bravery, but because there’s no water to fight the flames.
Questions LADWP Must Answer:
Why are reservoirs like Santa Ynez and Upper Stone Canyon not supplying adequate water to hydrants?
Were maintenance or refill protocols ignored ahead of wildfire season?
What contingency plans were in place for such an emergency?
#9 Rick Caruso is blaming aging infrastructure for the lack of water…
Rick Caruso, billionaire real estate developer and former commissioner of the city’s water board, pointed to the reservoirs linked to the hydrants as the source of the problem. “This is a window into a systemic problem of the city — not only of mismanagement, but our infrastructure is old,” said Caruso, who ran unsuccessfully for Los Angeles mayor in 2022.
Recently, I wrote an entire article about America’s crumbling infrastructure. Today, we are witnessing a perfect example of how the negligence of our politicians can have extremely severe consequences.
#10 Instead of being so focused on DEI, perhaps Los Angeles Fire Department Chief Kristin Crowley should have been more focused on actually fighting fires…
Then there’s Los Angeles Fire Department Chief Kristin Crowley, whom local ABC7 celebrated as “the first LGBTQ+ person to the lead the department, [and] also the first woman.” Her focus seems to have been less on fighting fires and more on launching the “Los Angeles Fire Department’s first-ever Diversity, Equity & Inclusion Bureau (DEI) focused on ensuring a safe, diverse, and inclusive workplace for all.”
#11 In 2024, large insurance companies such as State Farm and Allstate canceled large numbers of home insurance policies in Los Angeles County…
State Farm and Allstate recently stopped writing new policies in California due to fears they could lose massive amounts of money from natural disasters such as fires.
Newsweek reports, “In April 2024, State Farm—one of the biggest private insurers in the state—announced that it had canceled a total of 72,000 policies in California, 30,000 of which were homes. Many of those affected lived in high-risk, upscale neighborhoods in Los Angeles County, the area now affected by the Palisades fire.”
Actor James Woods lost his home to the Palisades Fire, and he says that insurance companies “canceled all the policies in our neighborhood about four months ago”…
Actually one of the major insurances companies canceled all the policies in our neighborhood about four months ago.
#12 The Palisades Fire has already been designated as “the most destructive fire in Los Angeles history”…
After destroying roughly 1,000 homes and buildings, the Palisades Fire — which has not been contained by the California Fire Department — is now the most destructive fire in Los Angeles history, the Associated Press reported.
The Sayre Fire in November 2008 previously held that record after it destroyed 604 structures in Sylmar, a northern suburb of Los Angeles.
This is truly a historic tragedy.
We should mourn for the lives that have been lost.
And we should also mourn with those that have lost their homes, because a lot of them did not have insurance.
Unfortunately, it is expected that the region will continue to be battered by high winds until Thursday, and so this is a story that is far from over.
Michael’s new book entitled “Why” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.