I don't mean this in a nonchalant way, but you need to pray & put on your armor of God. we're not supposed to live in poverty, OUR Father created us for more...so don't worry so much. be thankful for Everything you have, say Thank You A lot and really mean it. Good things will happen. Also, the system will fail before you do;) so keep trudging making the best of everyday. we're almost there.
Deposits under 250k are insured by FDIC and guaranteed against just such a loss if a bank goes under. Don’t keep more than 250k in one bank. Any investments like 401k should be held by a fiduciary that does not comingle funds. As far as hedging against the coming storm, I’ve converted most of my equities to cash within a couple of accounts and am waiting to start buying the bottom. Gold and silver are a small hedge against total loss but I’m just not seeing them worth the effort. Right now, you can get a yield of 5% in a certificate of deposit. Not bad return for a safe place. Just be careful who you buy them from.
Your pretty late. I have pulled all my cash out over the last few years and bought silver. It's insurance against a total collapse. Not good for if you need the cash now or in the next year or two.
I would take out cash and store it I. My gunsafe and or a safety deposit box at a credit union.
Silver can be converted back to cash pretty easily. I suspect that some merchants will even take silver soon. We had a greengrocer who took silver during the 2008 crash. She simply looked online to see how much silver was selling for. So, she took it for more than the spot price, which was kind. It only takes a little bit of bargaining to agree on how much the ounce is worth.
It will slow them down,if things are getting that bad we should have some warning. But just the same I have my silver in my gun safe and hidden and in a safety deposit box in the credit union.
I have tools in my garage,that will break into my safe.
We do not all have the same risk,some people live in bad neighborhoods and should have everything in a safety box.....
Now is the time to think,just don't blindly follow advice on the internet.
Exactly. I would find a spot in ur home, behind molding, in a wall. Something. A safe no matter the brand is not 100%. A theft (and if this shit pans out that way, we will see a lot of them) will get into the safe, or take it home and work on it later. Its ok to have a safe, but dont rely on it.
Convert your fiat to cash, physical metals, food, tradeable goods, basically anything that you can hold in your hands and will keep you fed and comfortable and in a good position for bartering.
I don't mean this in a nonchalant way, but you need to pray & put on your armor of God. we're not supposed to live in poverty, OUR Father created us for more...so don't worry so much. be thankful for Everything you have, say Thank You A lot and really mean it. Good things will happen. Also, the system will fail before you do;) so keep trudging making the best of everyday. we're almost there.
You also need to be prudent,and protect yourself as much as possible. Bible is filled with examples of people being careful with money.
Deposits under 250k are insured by FDIC and guaranteed against just such a loss if a bank goes under. Don’t keep more than 250k in one bank. Any investments like 401k should be held by a fiduciary that does not comingle funds. As far as hedging against the coming storm, I’ve converted most of my equities to cash within a couple of accounts and am waiting to start buying the bottom. Gold and silver are a small hedge against total loss but I’m just not seeing them worth the effort. Right now, you can get a yield of 5% in a certificate of deposit. Not bad return for a safe place. Just be careful who you buy them from.
And keep the certificates under 250,000 each.
Money is guaranteed, but it may take awhile. And you may lose the house waiting for it.
Your pretty late. I have pulled all my cash out over the last few years and bought silver. It's insurance against a total collapse. Not good for if you need the cash now or in the next year or two.
I would take out cash and store it I. My gunsafe and or a safety deposit box at a credit union.
Silver can be converted back to cash pretty easily. I suspect that some merchants will even take silver soon. We had a greengrocer who took silver during the 2008 crash. She simply looked online to see how much silver was selling for. So, she took it for more than the spot price, which was kind. It only takes a little bit of bargaining to agree on how much the ounce is worth.
Yes I have sold some back to my local coin shop. He buys at spot price. Silver has been up or down 5 dollers or so the last several years.
I wouldnt even keep silver in a credit union. I dont see how the bank and credit union are different
They are owned by their members. And they loan money locally for cars and homes. They don't yolo money into startups.
100 + years ago our great grandfather's figured out the banks were criminal and had the laws changed and credit unions started up.
"We" forgot all about it.
I believe you, but what will stop the government from taking over? The gov is criminal and criminals only know 1 word, "mine"
It will slow them down,if things are getting that bad we should have some warning. But just the same I have my silver in my gun safe and hidden and in a safety deposit box in the credit union.
I have tools in my garage,that will break into my safe.
We do not all have the same risk,some people live in bad neighborhoods and should have everything in a safety box.....
Now is the time to think,just don't blindly follow advice on the internet.
But if the banks collapse, do you think you'll be able to get to your safety deposit box?
It's in my local credit union,that's owned by the local depositors it's not a bank.
And yes I do think I have time.
The shit doesn't hit the fan all at once.
I see. Thanks.
Exactly. I would find a spot in ur home, behind molding, in a wall. Something. A safe no matter the brand is not 100%. A theft (and if this shit pans out that way, we will see a lot of them) will get into the safe, or take it home and work on it later. Its ok to have a safe, but dont rely on it.
I'm in the Navy Federal Credit Union.
I'm hoping it mitigates a little of the eventual pain.
Same. But not holding my breathe
Convert your fiat to cash, physical metals, food, tradeable goods, basically anything that you can hold in your hands and will keep you fed and comfortable and in a good position for bartering.
Why pay for college when they can just applied for financial aids??
Silver...bars and coins...
Member owned credit unions.
Buy Silver and Bitcoin. Don't let the haters on here of Bitcoin sway you. Bitcoin was created for times such as these.
I've been stacking silver and gold for years, as well as hoarding canned and dried food. And yes, it does help me sleep better at night.