If we think (and there have been numerous posts here to support this idea) that all major banks are going to fail because of over-investing in derivatives, what should we do if we have money in those banks? Pull it out in cash? Convert it to silver or gold? Put the cash under our mattress? And will cash be worth anything?
So if we have cash in checking or savings with a bank, how can we protect our assets?
Have done that in a limited way.
Remember every ounce of silver you buy messes with the system. If every Trump supporter went out and bought a single ounce it would already be done..
Full disclosure i am a layman, i dont have any formal education on stocks or anything financial, i am simply and internet researcher parroting much smarter peoples opinions, that logically make sense to me.
More silver is sold on the stock exchange then is mined every year, like 100 times the amount. There is also other fuckery like being shorted by billionaires but the mining is the easiest to wrap your head around.
If several million physical ounces were bought in a day, the prices would shoot up. Mints and mines everywhere would say they have to limit how much can be sold to make up for it, while industries that use silver are trying to buy it up because the price is going up. People who have paper silver stocks would get scared that their silver stocks won't get paid out as theres a global shortage, and start requesting their stocks in physical silver. Companies will not be able to pay out all the silver stocks and it will kill any trust in paper silver, and effectively destroy the paper silver market completely. This should destroy the entire stock market aswell as silver is a big thing and the stock market is very unstable.
Once the paper silver market is gone so is the system that's manipulates its prices, no more shorting or lowering the price with fake extra supply. Plus all the paper silver holders will be fighting over what physical silver is available to pay out to them, plus the industries trying to get it. All of this will raise the prices above even the historical value.
Buy food. What good is cash or gold or silver if there is no food to be bought? I'm not saying don't buy gold/silver, I'm just saying have some food (and water) on hand because in a collapse the stores will be wiped out very quickly. Some people might sell you what they have, but if they don't know how long the problem will last, they don't know if what they have on hand is sufficient or not and would be less likely to sell or barter it away. Maybe also buy some commodities that YOU could sell/barter to others (toilet paper, for example).
(I see others have already suggested food stores, I didn't read further down, my bad).
Don't forget ammo. Banks collapse, people lose access to their money, and the majority of them aren't awake like we are? There is a good chance you may need to defend your food stocks.
I assure you I have done these things.
Sell something you don’t need NOW! Convert that cash to gold. Best to do that now before the crash because you will not be able to do it after as everyone will be trying to sell things.
God Bless. A roof over your head is so important.