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?
I believe you should always have some cash on hand in case of bank holidays or ATM's not working. Cash may not be great in the long run but it will help in the initial stages of a crisis. Bank deposits (to a limit) are insured but that won't make a difference in a SHTF scenario where all the banks/governments are insolvent. Gold and silver are good as a way to maintain your wealth. Don't just buy silver because it seems cheaper. You can buy small amounts of gold (i.e. 1/10 ounce) or jewelry. Buy real useable assets if you can.
That's good to know about the small amounts of gold. Thanks.
I'm not sure about other places but in Canada you can buy 1/10 ounce gold Maple Leaf coins.
I'm pretty sure I've seen US retailers selling the 1/10 maple leaf coins.
There's actually lots of options. 1/20 ounce and single gram maples, single gram bars, 5 gram bars.
I personally would wait to get a sizable chunk, or even figure out some way to finance it without interest if you have good credit. You pay a lot in premiums on the small chunks.
Checked on that and the premium is 24% So spot, plus = 24%!
You can buy bars as small as 1/2 gram.
https://www.jmbullion.com/gold/gold-bars/gram-kilo-gold-bars/
Those one gram bars are so cute. You're girl will not be mad you spent the munnie.
How big are they compared to a dime?
Smaller