What to do with our savings accounts ???

[The Irish Ram]

If the globe drops the dollar, the value of our money is going to tank. What used to be worth a dollar could end up worth a dime. So, if you have a savings account or a little cash set aside for emergencies. What do you do with it before it becomes pretty much worthless?
Gold is one option. But the government confiscates it when ever they feel like it. And they will feel like it. Same thing with silver. The stock market is a mess. Crypto can simply disappear on you. Rental property is good, but with so many layoffs lately, soon people will not be able to make their mortgage payments, and there will be a glut of houses for sale cheap.
With the dollar collapse they will change us over to a SEG digital government account and your behavior will determine how many tokens you may have, or what deductions they have imposed.
But before that happens, say you have a nest egg of dollars that in a few months you can use for wall paper or toilet paper, what do you do to escape the disintegration of our currency?

 

[White 6]

If the globe drops the dollar, the value of our money is going to tank. What used to be worth a dollar could end up worth a dime. So, if you have a savings account or a little cash set aside for emergencies. What do you do with it before it becomes pretty much worthless?
Gold is one option. But the government confiscates it when ever they feel like it. And they will feel like it. Same thing with silver. The stock market is a mess. Crypto can simply disappear on you. Rental property is good, but with so many layoffs lately, soon people will not be able to make their mortgage payments, and there will be a glut of houses for sale cheap.
With the dollar collapse they will change us over to a SEG digital government account and your behavior will determine how many tokens you may have, or what deductions they have imposed.
But before that happens, say you have a nest egg of dollars that in a few months you can use for wall paper or toilet paper, what do you do to escape the disintegration of our currency?

What to do with our savings accounts??? Keep saving account $10,000 or less as saving accounts (at least mine) doesn't pay crap. You can find something to invest in that definitely pays more, be it stocks or gold. Never link one to your checking account, as debit card fraud is real. You get your money back, but it is a hassle.

 

[evenflow1969]

If the globe drops the dollar, the value of our money is going to tank. What used to be worth a dollar could end up worth a dime. So, if you have a savings account or a little cash set aside for emergencies. What do you do with it before it becomes pretty much worthless?
Gold is one option. But the government confiscates it when ever they feel like it. And they will feel like it. Same thing with silver. The stock market is a mess. Crypto can simply disappear on you. Rental property is good, but with so many layoffs lately, soon people will not be able to make their mortgage payments, and there will be a glut of houses for sale cheap.
With the dollar collapse they will change us over to a SEG digital government account and your behavior will determine how many tokens you may have, or what deductions they have imposed.
But before that happens, say you have a nest egg of dollars that in a few months you can use for wall paper or toilet paper, what do you do to escape the disintegration of our currency?

Lol, I have been buying gold for a while and taking possession of it. The government can't take what they can't find.

 

[The Irish Ram]

Lol, I have been buying gold for a while and taking possession of it. The government can't take what they can't find.

Unless you paid cash for it, then they already know what you have and how much. If they make it illegal to own gold, you could be fined (last time it was $10,000. This time it will be much more) and imprisoned for 10 years, or both. That's a big risk.
And what can you do with gold? You can't buy a loaf of bread with it. It's not legal tender. If it's illegal to own, then you can't barter with it.
What do you do with it once you take it out of hiding?

 

[scruffy]

If the globe drops the dollar, the value of our money is going to tank. What used to be worth a dollar could end up worth a dime. So, if you have a savings account or a little cash set aside for emergencies. What do you do with it before it becomes pretty much worthless?
Gold is one option. But the government confiscates it when ever they feel like it. And they will feel like it. Same thing with silver. The stock market is a mess. Crypto can simply disappear on you. Rental property is good, but with so many layoffs lately, soon people will not be able to make their mortgage payments, and there will be a glut of houses for sale cheap.
With the dollar collapse they will change us over to a SEG digital government account and your behavior will determine how many tokens you may have, or what deductions they have imposed.
But before that happens, say you have a nest egg of dollars that in a few months you can use for wall paper or toilet paper, what do you do to escape the disintegration of our currency?

First thing is, use a few pennies for a shotgun and some ammo.

 

[RevenantBlues]

Unless you paid cash for it, then they already know what you have and how much. If they make it illegal to own gold, you could be fined (last time it was $10,000. This time it will be much more) and imprisoned for 10 years, or both. That's a big risk.
And what can you do with gold? You can't buy a loaf of bread with it. It's not legal tender. If it's illegal to own, then you can't barter with it.
What do you do with it once you take it out of hiding?

An even more worrisome question: how does one securely trade with gold? Chances are good one's first gold transaction could result in robbery or worse.

 

[westwall]

If the globe drops the dollar, the value of our money is going to tank. What used to be worth a dollar could end up worth a dime. So, if you have a savings account or a little cash set aside for emergencies. What do you do with it before it becomes pretty much worthless?
Gold is one option. But the government confiscates it when ever they feel like it. And they will feel like it. Same thing with silver. The stock market is a mess. Crypto can simply disappear on you. Rental property is good, but with so many layoffs lately, soon people will not be able to make their mortgage payments, and there will be a glut of houses for sale cheap.
With the dollar collapse they will change us over to a SEG digital government account and your behavior will determine how many tokens you may have, or what deductions they have imposed.
But before that happens, say you have a nest egg of dollars that in a few months you can use for wall paper or toilet paper, what do you do to escape the disintegration of our currency?

Gold and silver. I am cashing out as we speak. I picked up 2400 ounces of silver over the last two weeks, and another 10 ounces of gold.

 

[westwall]

Unless you paid cash for it, then they already know what you have and how much. If they make it illegal to own gold, you could be fined (last time it was $10,000. This time it will be much more) and imprisoned for 10 years, or both. That's a big risk.
And what can you do with gold? You can't buy a loaf of bread with it. It's not legal tender. If it's illegal to own, then you can't barter with it.
What do you do with it once you take it out of hiding?

Gold is used for international trades. Buy foreign gold bullion. I prefer Swiss and Aussie bullion coins.

 

[The Irish Ram]

Gold and silver. I am cashing out as we speak. I picked up 2400 ounces of silver over the last two weeks, and another 10 ounces of gold.

Cashing out. Are you trading it in then for dollars?

 

[westwall]

Cashing out. Are you trading it in then for dollars?

No, I am taking cash from savings and buying gold and silver bullion coins. All foreign coins, I don't buy US gold for exactly the reason you gave.

 

[The Irish Ram]

Gold is used for international trades. Buy foreign gold bullion. I prefer Swiss and Aussie bullion coins.

Last time it was illegal in America to own gold coin, bullion or currency from anywhere.

 

[westwall]

Last time it was illegal in America to own gold coin, bullion or currency from anywhere.

Yeah, I know. And look how much never got turned in. Like I said, I will use my gold for international business. It won't be kept here in the US.

 

[Vastator]

Last time it was illegal in America to own gold coin, bullion or currency from anywhere.

Too bad for fedgov... Good luck enforcing that.

 

[The Irish Ram]

Yeah, I know. And look how much never got turned in. Like I said, I will use my gold for international business. It won't be kept here in the US.

I agree, but back then they didn't have access to our financial records the way they do now. I don't know if international gold business will exempt an American from owning it or not. I don't know...

 

[westwall]

I agree, but back then they didn't have access to our financial records the way they do now. I don't know if international gold business will exempt an American from owning it or not. I don't know...

I have the advantage of owning property overseas. We have a flat in Paris, and I just bought a place in Switzerland. The Swiss will be the last to go.

 

[The Irish Ram]

Too bad for fedgov... Good luck enforcing that.

Enforcement won't be a problem with a $50,000.00 fine and 20 years in prison. A $10,000 fine and a 10 year prison sentence was enough for my grandmother to turn hers in the 30's.

 

[westwall]

Enforcement won't be a problem with a $50,000.00 fine and 20 years in prison. A $10,000 fine and a 10 year prison sentence was enough for my grandmother to turn her's in in the 30's.

That would constitute an "Illegal taking" in the language of the COTUS.

I have no idea why it wasn't challenged back then.

It would be heavily attacked today.

But, like I said, I am being cautious.

 

[Vastator]

Enforcement won't be a problem with a $50,000.00 fine and 20 years in prison. A $10,000 fine and a 10 year prison sentence was enough for my grandmother to turn her's in in the 30's.

I'm not your grandmother...

 

[Vastator]

Unless you paid cash for it, then they already know what you have and how much. If they make it illegal to own gold, you could be fined (last time it was $10,000. This time it will be much more) and imprisoned for 10 years, or both. That's a big risk.
And what can you do with gold? You can't buy a loaf of bread with it. It's not legal tender. If it's illegal to own, then you can't barter with it.
What do you do with it once you take it out of hiding?

You can do with gold, the same thing you can do with FRNs. You, and another party determine a given quantity, in exchange for goods, and/or services. This isn't rocket science.

 

[The Irish Ram]

I'm not your grandmother...

Are you a United States citizen, just like she was? Then the rules would have, and will apply to you too if they enact them.