If you have money in a national bank, I would pull it out and open an account at a small local bank/credit union, etc. I sleep better at night with the security of small banks.
Second. There will be big bank closures, but the little independents will likely continue without too much trouble. Mine is already training on the new non-SWIFT system. They've been working hard on the new "update," as they call it.
Nice. I'm going to shop for one. I'm also going to go get a bullion just to have one, if I can afford it. I know (a) gold bullion, silly I know. I have no idea how much it is. Maybe get more but I doubt it. ;)
Many experts believe that both gold and silver are seriously undervalued, but the manipulation is greater with silver. Therefore, the value of silver may increase faster than gold.
You can be your own bank. Obviously keep enough fiat in the bank to pay bills, but consider moving the rest to precious metals. If you need emergency cash, you can convert the silver back into fiat (likely at a profit, considering the currently suppressed price).
Of course, not financial advice. Just sharing info.
I don't understand why you all are so sure small banks are safe. When the banks went to hell in the 1980s recession, the small banks were the first to go.
Doesn’t matter, still fractional banking, meaning that they’ve lent out your money at least 15 times.
They would still not have a fraction of your money available, so when the bank run start, only the 100ish first customers will get their money, the rest are screwed.
Physical gold/silver is the way to go, and some cash, the ATMs will be emptied the first 2 days, the banks (even the smaller) will be emptied even faster.
If you have money in a national bank, I would pull it out and open an account at a small local bank/credit union, etc. I sleep better at night with the security of small banks.
Second. There will be big bank closures, but the little independents will likely continue without too much trouble. Mine is already training on the new non-SWIFT system. They've been working hard on the new "update," as they call it.
Nice. I'm going to shop for one. I'm also going to go get a bullion just to have one, if I can afford it. I know (a) gold bullion, silly I know. I have no idea how much it is. Maybe get more but I doubt it. ;)
Silver is much cheaper than gold and probably easier to trade in smaller values if shit breaks down.
Also, food, water, batteries, toilet paper, bullets, etc will be very tradable.
Thanks for the mention of batteries, been meaning to get more, also cigarettes and alcohol of all kinds will be easily traded.
Many experts believe that both gold and silver are seriously undervalued, but the manipulation is greater with silver. Therefore, the value of silver may increase faster than gold.
You can be your own bank. Obviously keep enough fiat in the bank to pay bills, but consider moving the rest to precious metals. If you need emergency cash, you can convert the silver back into fiat (likely at a profit, considering the currently suppressed price).
Of course, not financial advice. Just sharing info.
TY Good points.
Where is a good place to get silver?
about silver.....is there a way to avoid the drastic premium prices?....and should one buy known silver COINS vs bullion?.....
and what about the stock market?....have all my retirement in there, half defensive stocks and half bonds....
Best to buy silver. NOW! It’s cheap.
Look at you, stacking silver.
Where are you based, Matilda? Which state? I'm in Vic.
I don't understand why you all are so sure small banks are safe. When the banks went to hell in the 1980s recession, the small banks were the first to go.
Exactly. And if stuff goes like we think it's going to go, it's not going to matter anyway. It will be a painless transition
100% correct. Most of these small banks are linked to the big ones. There will be a domino affect.
This is good advice no matter what happens. We shouldn’t be supporting asshole Banksters such as “Bank of America” and the like anyways.
👍
TY
Doesn’t matter, still fractional banking, meaning that they’ve lent out your money at least 15 times.
They would still not have a fraction of your money available, so when the bank run start, only the 100ish first customers will get their money, the rest are screwed.
Physical gold/silver is the way to go, and some cash, the ATMs will be emptied the first 2 days, the banks (even the smaller) will be emptied even faster.