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?
The grocery stores will be bare within a day, and all your stored food is gonna just be some much crazier persons loot, unless you live on a farm. Any population center is gonna be complete chaos.
The idea behind having gold and silver is that there will be people in places that are stable and they aren't just gonna give you stuff for free, or for paper that's worthless. The Amish will trade you bread and corn and beef for silver.
Plus if the scenario goes the other way and it doesn't descend into chaos, but the current system dies then silvers historic value will come back and it will be worth a ton, and you will have a bead start rebuilding.
Even in this current system more and more technologies are requiring silver. So if somehow this system staggers on for a few more years itll still go up in value. So in every scenario silver will be useful.
Great points.