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?
Good answer... and I actually had not considered real estate. I know they're not making any more of that commodity! Thanks for the thoughtful reply.
If we see the financial collapse we are all expecting, the USD will be as worthless in a safe as in the bank. I agree with silver, gold, land, real estate. I also believe that whatever happens, it will be short lived and people will be ok on the other side. Perhaps a new money system where maybe a snapshot of your USD funds in the bank is converted into new currency. I’m certain there will be something in place to take care of people. That being said, I think converting cash to the assets above before the crash will make people extremely wealthy on the other side.
Are you canning yet? If you have a canner, every day should see you canning something. The problem is finding jars.
Similar here, been working on getting those deferred repairs done this year instead of putting them off longer and given supply chain issues buying maintenance items like car parts now instead of waiting for when they're needed next year because who knows if they'll be available and I've already watched the prices trending up each month.
"I also believe that whatever happens, it will be short lived and people will be ok on the other side."
Agreed. That said, I have bought gold and silver and will buy more -- just in case.
Well, yeah, you're a silversmith, Paul.
I hear this scenario a lot. Thanks, I pray you're right.
Sorry to tell you this but I believe it won’t be short lived. I hope it’s over quickly, but I don’t see that. This is not going to be sorted out quickly.
Believe what you want. You say “sorry to tell you” like you know for a fact. We’re all speculating here. I choose hope and faith over doom and gloom 10 times out of 10. 🙂
Amen, brother! Not to mention, we've seen the collapse coming for a while now. If you don't think there are and have been very smart, well intentioned people working on a plug-and-play solution for a long while now, you're fooling yourself, IMO
\A Volcano enters the chat/