Death by a thousand paper cuts! The petrodollar fiat currency is dead. It’s just a matter of time. My only dilemma is, do I take my $40K out of Chase and invest in gold/silver?
(This is not a substitute for competent financial advice)
If you believe the dollar stands to lose more value and that the US economy is shaky, if you believe that US companies will lose value and thus investing in their stock is a poor choice, then consider moving your savings out of those assets and into ones that you view as more stable (ie. gold, silver, crypto). The key question is your assessment of the US economy, the dollar, and their stability.
Personally, I think the powers that be are too personally invested in the current system to let it fall. They'll be willing to take a haircut, even a big loss such as in a depression where they might lose huge chunks of their wealth, but I don't think they'll let the system fall. Too much is bound up in it.
I've got a father who's retired. I told him this, and I told him not to panic and sell off stock in companies which are strong and have consistently provided good returns. He invests in companies that provide goods and services you can't really live without. Everyone needs them, so even if the economy tanks, these companies will be resilient. I wouldn't sell those. But I did suggest to him to consider moving some of his assets to real assets (real estate, gold, silver, anything tangible that you can physically go out and touch) just in case the worst happens. Make an ultra-conservative financial choice here for some part of the nest egg because he is retired and must have assurance against risk to help him sleep.
Again, you do you own thinking when it comes to your money. Don't trust /uRandomJackassOnTheInternet0439 to tell you where you should invest.
I think the powers that be are too personally invested in the current system to let it fall.
I wonder if the PTB might have missed a trick. A decade ago, The West was powerful enough to control the world so they worked on controlling The West to grab global influence. However, these days, The West is declining rapidly. 1.4 billion people in China now have a GDP like the US. A similar number in India are heading in that direction. Brazil, Russia and South Africa are already on-board and are being swamped with applications to join.
Africa has started telling western countries where to get off. Oil suppliers are moving away from the US dollar. Western sanctions are being ignored and overcome.
Maybe this is causing part of the panic? If the Globalist agenda is not implemented very soon they will find they still have another stack of countries to overcome and China and Russia, for two, will not give up their new-found power easily.
I have invested in silver and gold coins for awhile now but its convincing the wife to take another 20K - 30K and buy more gold/silver. She says we need fiat money to buy stuff right now until the dollar crashes.
Here's another option - buy stuff with your fiat money while it has power.
Consider things you'll need for the next few years - toothpaste, deodorant, cleaning supplies, toiletries, clothes, blankets, furniture, etc.
If your money is going to turn worthless - use it while it is worth something and turn it into things you're going to need anyways.
40k buys a lot of toothpaste. :)
Also worth thinking about - do you have other family you want to be able to help? Buy more toothpaste and those sorts of supplies so they will have them - even if they aren't paying attention like you. You'll wish you could help them if crap hits the fan, right?
Silver and gold only go so far - sounds like you have those bases covered.
Furthermore, you could consider looking at food supplies. Stock up on things you can freeze - meat, etc. Again, look out for your family and neighbors if that's in your heart.
After considering what you can freeze - look at dried foods that you would use anyways - beans, rice, etc.
All of these things take storage space - but if you're going to use them anyways, then you're only investing your money into those things now pre-emptively.
If you've got gold/silver/crypto covered - use the paper.
Got guns/ammo? Cars? Tools?
A half way mark - take it out of the bank and store it somewhere personal. At least then, if/when there is a bank run - you'll have your paper to play with for a bit before it goes worthless. Maybe not long - but at least you'll have an opportunity because you'll have it with you.
Death by a thousand paper cuts! The petrodollar fiat currency is dead. It’s just a matter of time. My only dilemma is, do I take my $40K out of Chase and invest in gold/silver?
(This is not a substitute for competent financial advice)
If you believe the dollar stands to lose more value and that the US economy is shaky, if you believe that US companies will lose value and thus investing in their stock is a poor choice, then consider moving your savings out of those assets and into ones that you view as more stable (ie. gold, silver, crypto). The key question is your assessment of the US economy, the dollar, and their stability.
Personally, I think the powers that be are too personally invested in the current system to let it fall. They'll be willing to take a haircut, even a big loss such as in a depression where they might lose huge chunks of their wealth, but I don't think they'll let the system fall. Too much is bound up in it.
I've got a father who's retired. I told him this, and I told him not to panic and sell off stock in companies which are strong and have consistently provided good returns. He invests in companies that provide goods and services you can't really live without. Everyone needs them, so even if the economy tanks, these companies will be resilient. I wouldn't sell those. But I did suggest to him to consider moving some of his assets to real assets (real estate, gold, silver, anything tangible that you can physically go out and touch) just in case the worst happens. Make an ultra-conservative financial choice here for some part of the nest egg because he is retired and must have assurance against risk to help him sleep.
Again, you do you own thinking when it comes to your money. Don't trust /uRandomJackassOnTheInternet0439 to tell you where you should invest.
I wonder if the PTB might have missed a trick. A decade ago, The West was powerful enough to control the world so they worked on controlling The West to grab global influence. However, these days, The West is declining rapidly. 1.4 billion people in China now have a GDP like the US. A similar number in India are heading in that direction. Brazil, Russia and South Africa are already on-board and are being swamped with applications to join.
Africa has started telling western countries where to get off. Oil suppliers are moving away from the US dollar. Western sanctions are being ignored and overcome.
Maybe this is causing part of the panic? If the Globalist agenda is not implemented very soon they will find they still have another stack of countries to overcome and China and Russia, for two, will not give up their new-found power easily.
I would !
No! Just silver 🤠
Take it out. Duh! You cant go wrong with gold or silver. Look at golds performance in the last 20 or even 10 years.
Gold, silver, and/or bitcoin. Not financial advice.
I have invested in silver and gold coins for awhile now but its convincing the wife to take another 20K - 30K and buy more gold/silver. She says we need fiat money to buy stuff right now until the dollar crashes.
Here's another option - buy stuff with your fiat money while it has power.
Consider things you'll need for the next few years - toothpaste, deodorant, cleaning supplies, toiletries, clothes, blankets, furniture, etc.
If your money is going to turn worthless - use it while it is worth something and turn it into things you're going to need anyways.
40k buys a lot of toothpaste. :)
Also worth thinking about - do you have other family you want to be able to help? Buy more toothpaste and those sorts of supplies so they will have them - even if they aren't paying attention like you. You'll wish you could help them if crap hits the fan, right?
Silver and gold only go so far - sounds like you have those bases covered.
Furthermore, you could consider looking at food supplies. Stock up on things you can freeze - meat, etc. Again, look out for your family and neighbors if that's in your heart.
After considering what you can freeze - look at dried foods that you would use anyways - beans, rice, etc.
All of these things take storage space - but if you're going to use them anyways, then you're only investing your money into those things now pre-emptively.
If you've got gold/silver/crypto covered - use the paper.
Got guns/ammo? Cars? Tools?
A half way mark - take it out of the bank and store it somewhere personal. At least then, if/when there is a bank run - you'll have your paper to play with for a bit before it goes worthless. Maybe not long - but at least you'll have an opportunity because you'll have it with you.