FDIC caught on video planning to use your deposits for bank "bail-in"
(www.theorganicprepper.com)
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The FDIC is to banking as the FDA is to the pharmaceutical companies...a self governing revolving door.
I hope you would let others know so they can all prepare, frens.
agree, but i find that when i provide the sources for the info of what i believe to be true, most people have an attitude that i call "Scarlett O'Hara syndrome" of "i'll think about that tomorrow", and go about their merry way as if nothing is happening...actually had someone laugh in my face and say "how can you believe that" and i replied "how can you NOT believe it!"...
I understand about all that. I have people laughed at me about the vax too until they took it themselves and said, "Shit, I should have listened."
Good luck getting them to listen.
Two words, "regulatory capture".
Well, it's actually theirs already, they just let us use it. We haven't had any "Money" since 3/9/1933 when the cabal unlawfully converted all men and women into chattel property and then confiscated all the "Money". After all, "Property" cannot OWN property.
Our bank accounts contain promise-to-pay debt instruments owned by the private foreign corporation sometimes known as the "Federal Reserve". This is "currency" that we actually loaned to our banks just to add insult to injury - just read the contract you signed to get your bank account.
Sooner or later they'll have to call it all in or let it go to toilet paper value. Either way it's worthless.
I understand all that, but you still don't want them to liquidate your cash into toilet paper
Of course not. Take the necessary steps you need to take to protect your assets, understanding of course that green paper promissory notes or digits on a screen in a database are not actually "assets".
precious metals and a little bit of crypto for me.
Use Credit Unions, not Banks.
I only use cu. Are they insured by FDIC also?
NCUSI or ASI. I think your CU will hold a vote if they make a change.
Thanks. Appreciate.
Pay off all debt. If you have a mortgage work on paying it off. Keep just enough funds in the bank to do the things you need to do.
If there is a bail-in you will lose some/all savings. Whatever debt you have will still be there no matter what happens to your savings.
For some maybe an all in one HELOC is the way to go. But only if you are in control of yourself when it comes to spending
I have been paying off my mortgage like crazy. I should have it paid off in a few more months. I could pay off my mortgage right now but I would be a little low on cash. I have no other debt so as soon as my mortgage is paid off I will be debt free.
And yes I have heard that a mortgage is "good" debt nonsense.
How many people that pay off their mortgage go out and get another mortgage because mortgage debt is a good thing?
Already done with everything 2 years ago. Make me so happy.
So, question, is it only going to wipe savings or will checking go too?
I don't think they will wipe out everything but there could be a haircut. That haircut would be a "one time" across the board haircut. Savings, checking, retirement. Anything in the bank would be fair game as far as they are concerned.
Since most people have most of their money in retirement accounts those accounts would be prime picking for them. After all they could say that only the rich have accounts that are tax deferred. They would claim that the "haircut" is just simply the tax that is owed by the rich on the tax deferred accounts.
Thanks.
So with precious metals, how can I get gold/silver as close as possible to the spot price?
https://www.goldenstatemint.com/1-oz-walking-liberty-silver-round.html
$22.46
For prices I've found SD Bullion to be the all around best t then PIMBEX, and BullionMax. For selection APMEX but at higher prices unless you find a sale item but SD usually beats their sale prices too. APMEX will price match "exact" item for item once you gain enough status through order and amount volumes but that obviously won't work for generics. As long as the Fed is raising rates metals will continue to be relatively cheap. However, once they pivot and move rates down or even level off metals are going to explode. Get your metals while you can.
i have used jmbullion online for years...always excellent...and look for their "sale" items at lower premiums...good luck...they have free shipping for orders over $199...im no expert, but buying in the lowest denomination for the applicable per oz premium is best, if you're considering actually having to use it to pay for goods/services, not just one big chunk kilo, etc...
Same here. I trust them completely and have great prices, stock and customer service.
Your best price will probably be with a local dealer. Here in Canada you can just search for a RCM authorized dealer and you’ll usually get a reasonable price over spot. Obviously the larger the bar you buy, the less of a premium you’ll pay.
One thing to note is that the spot market correlates to what the paper certificates are trading at. The physical market can deviate quite significantly from the paper market, especially when there’s a lot of movement or when SHTF.
Buy the heaviest bars you can afford. 1000oz silver and kilo+ gold bars.
What’s the logic behind buying heavier bars? Not doubting that, but asking a legit question because I’ve wondered myself if it’s best to have 1oz coins, 10oz bars, 100oz bars, or an even mix of all of them. Thanks.
EDIT: I just reread and see that your reply was answering the question about how to get closest to SPOT price.
The bigger the bar, e.g. the more you spend, the lower the premium (closer to spot) you pay. More bang for your buck which the OP asked. Presumably he's asking about a wealth-preservation option versus a barter-n-trade stash.
After the dust settles, do you think it will be easy to trade in the gold/silver for the new gold backed currency?
Trust, but verify.
Agreed. It would be total chaos if it comes to that.
Insert GME+Loopring.
I have no idea what's going to happen next. The pundits out in the wild are all over the place on this topic. However, I am aware of people who are already regularly trading in gold/silver for products and services.
Good price right now, I would load up.
Amazing post, thank you friend!👍
Welcome.
This is already the law of the land in Canada. If a bank fails, it will be allowed to steal all its deposits to re-liquidate itself.
I am so sorry.
My money is in silver,in my gun safe,and in good stonks.
thumbs up