I understand the mistrust of the central banking system, but what other choices exist for people? Where can you safely keep your savings? Or even your monthly bill paying (checking) account money? Inform / educate a fren, please.
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Guns & Ammo
I know it's a pain to pay in cash, but all businesses and government entities must accept cash for payment of debts. That's what "legal tender" means. So if you get unbanked, you can ask to be paid in cash and pay all your bills in cash. If you need to send a check, you can pay cash for a postal money order. As far as storing wealth is concerned, the other suggestions in this thread are good choices.
Interesting. I wonder how many employers would be willing to pay a lone employee in cash. I like the idea, but can imagine they would be reluctant or even refuse.
Mayo jar in the bottom of your deep freezer. Get creative, you don't have to dig a hole in the yard and bury it.
No reason to invest in any of the various markets people often suggest unless you're comfortable gambling with your money. Just be frugal with your money and stockpile cash in various well hidden places.
Yikes.
Thank you everyone for all your advice ,, I for one really need it ,,
Credit Unions are much more reliable than banks, at least in my experience. They've personally helped me in the past when someone was trying to get into my account through check fraud.
Real estate and some more. Then if the banks fail, you don't have a mortgage anymore. Double win.
Next to your gun.
Safe deposit box is a great place where the cops can show up with a single warrant and search every box in the vault, it has happened before.
Seriously? I did not know that. Thanks.
So you believe that crypto is the only way then?
One ounce coins are way way way to big for transactions, unless youre biying in bulk or buying something expensive. You should add some simple metal working tools to your kit because your gonna need to smash up all the minted silver (i think the ggovernments will try to declare it still belongs to them) and if you look into the historical value of silver (which is what it will return to whe the system collapses) a full ounce is like more then a $100 bill today. People will need to break up these huge silver coins we have to make coins about the size of pennies to actually be able to pay for small things.
Silver is so so so much more valuable then we believe.
This was that I was thinking, that the bars aren't practical for everyday use. But Zeitreise said there are coins, so I've asked him more about those. As for metal working tools, any suggestions on that front? Thanks for your input.
Okay, thanks for this. A couple of follow up questions, if you don't mind. Why are credit unions better than banks? (What's the actual difference?) Are credit unions FDIC insured?
As for gold and silver, how do you get coins? I mean, bars are not practical for use if the SHTF because, how do you break them down? So coins of relatively small denominations ($5 - $10) seem logical for everyday use, but can you even get those? I don't even know if they exist. I also wonder if they'd be accepted by merchants.
Secondly, as for a safe -- do you have one you would recommend? My understanding is that they're not always fire proof, so even if you have your cash in there, it could be destroyed by smoke / fire. I know I can research this stuff myself, but if you happen to have any suggestions, they'd be welcome.
Thanks for the good info. I appreciate it, fren.
I' put a few thousand away to buy silver , I too am a newbie to this ,, I was wondering the same thing ,, how will they give us change from our silver coins ? Your answer is for me to buy 1/10 rounds .. correct ? Can u tell me what each one cost approximately , and is that size easy to find ?? I plan on buying at-least 3 to 5 k soon , I don't have much cash to spare but I can do that much and really needed this advice ,, better to find a local coin shop ? I'm in SDiego there are a few ,, thank you so much for any more advice
Thank you so much. So if I send this place say a thousand dollars at a time they are on point as far as trustworthy and I won't hear we are out of stock for the next year after my 1000 Check was cashed ! Lol , I realized you wouldn't have suggested if u ever had a problem ,, And u r in no way responsible for who I decide to buy from ,, probably would only do 1000 at a time ,, thank you so much , I may as well by coins what would I do with bars if I need to use as currency ,, I'm s single girl who never dabbled in gold or silver accept jewelry so it's all new to me , tY again
Thank you so much I'll put an order in next week , I need to spend the time and sit down and do this , busy , busy , busy , I'm making plans house renovation etc to as quick as possible be ready to hit the hills if needed
Thanks. I wasn't thinking of silver melting, I was thinking of paper money going up in smoke, lol. But I wouldn't want too much of that anyway. Alright, good to know about the rounds. Thanks again for your help.