Can we have a thread about what the hell to do right now?
🗣️ DISCUSSION 💬
First of all, I'm an idiot when it comes to anything financial. I know many of you aren't. What is the safest thing to do with the money (fiat) that we do have right now? Leave it in our local bank? Credit union? Keep it as cash in my sock drawer? Also, the money in my 401k? Switch it over to bonds or something else I don't fully understand? Any thoughts from someone who's been paying better attention to these things than I?
Build a layered defense.
One
And the first line of defense should be taking savings and cash that you don't specifically need in banks aka liquid assets, and buying silver and gold. Fiat currency will ALWAYS decline in value over time, but precious metals generally speaking don't (at least, not when the globalist bankers aren't manipulating the markets).
Start learning about silver stacking and gold stacking NOW. There are plenty of beginner videos on youtube that will help you get your feet quickly. (If things crash hard, or hyperinflation hits, then silver will be much easier than gold to use on a daily basis. Diversify your silver, buy buying 1oz coins (Around $30 these days), 2oz, or larger blocks for more longer term asset protection (10oz, 1kg, etc)
Two
Keep only enough cash in the bank to cover expenses and immediate fees. If you have to have any significant amount (say more than $5k) in banks, then spread it out into several different banks.
Withdraw a very good portion of the rest of your cash to keep as cash. When the crash comes, many people simply won't be able to withdraw cash, even if it's 'guaranteed' or still 'theirs'. Keep enough cash to last your for a few weeks to a few months, just in case.
Three
Buy resources that will retain value if and when the crisis hits and everything goes into meltdown. Use your ready cash to stock up on non-perishable food and water that will last you at least 3 months. Some folks also use their money to buy liquor, ammo, and other things that can be used for bartering if the shit hits the fan.
Four
The above are all defensive measures. If you are going to find other places as an offensive measure, then investing in precious metal-based stocks is another way to go. You'd have to do some research, or find the right people. Some of those companies, for example, are globalist run. But others are not.
(In the era of the great depression, when the stock market completely crashed, companies that were involved in precious metals actually survived and then thrived, because PM stand the test of time.)
Some will recommend crypto, but I personally would stay away from that. blockchain is going to be important in the future, but I don't think it's time has yet come. By and large, crypto has similarities to fiat, inasmuch as most of it, anyway, is not based on any tangible value. (yes, yes, yes, crypto lovers will argue the point, but this is just my opinion).
We know that the Central bankers will be pushing their move to CBDC as soon as they can. And there is a lot of dodgy stuff in the crypto world at the moment. FTX being the tip of the iceberg. Signature bank being another.
Anyway, this is simply a description of my own approach, and not financial advice, obviously.
Some references
https://www.youtube.com/results?search_query=silver+stacking+for+beginners
https://kingworldnews.com/
Precious metal venture co's Stocks are not expensive, but if and when gold, silver etc, jump, their value could massively explode. These companies' assets are in the ground, in the form of precious metals not yet dug. So, they are very solid, unlike many other companies, etc. However, putting monty here is not a defensive measure, but an offensive one. It may take a few years to pay off. Make sure your other measures are in place before going down this one. Some that I think are noteworthy:
NFGC NEW FOUND GOLD CORP FG FALCON GOLD CORP GZD GRIZZLY DISCOVERIES INC NKG NEVADA KING GOLD CORP
Good luck, anon.
Always a good move. Diversified silver holdings is the way.
Great post, thank you.
If I may... buy your silver from your LOCAL dealer (find a good/trustworthy one). Use cash. You can buy online, but those transactions are tracked, where cash is not.
Have backup power. Solar and/or generator.
Have a covered trailer so that when you bug out, you can haul stuff. If needed, you can sleep in it. Also, have a bug-out plan too.
Does anyone have a take on a Precious Metals IRA?