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?
Lot of people are overly paranoid in here. The fed just said they will literally cover any deposits. This is even over 250k. Your money is completely safe in banks. However I would not buy any stocks in banks as that is not safe. Gold/silver historically has been horrible returns so don’t get too silver crazy. I made this mistake in 2021 and lost out on lots of returns. You can remember me saying this in 5 years when it’s still below $3000 and bitcoin is over $100k. My smartest most wealthiest financial advisor friend warned me and told me I’m crazy for even thinking about it. He said he went through same thing as me. There’s a lot of gold salesmen and they push the narrative hard. we all want $$$ usd in the end and t-bills/crypto is where it’s at
Fed will cover. With what? More fake money?
It will break. Guaranteed.
If its guaranteed then why not put all your money shorting the 3x bank etf and then buy tons of gold when every bank fails? If you look into it, they’re taking from other banks, not printing money at all lol. Spreading fake news. Can’t respond to these comments if they’re all gonna be uninformed about the basics