What to do with our savings accounts ???

[Vastator]

Correct....it's the durability and portability that makes them highly desired....but not always by everyone. You can't eat them. They are not consumables. Also....with the manufacturing process available by everyone fake gold bullion is very easily came by...so testing kits usually have to be employed.

But in a chaotic society...laying low is the chief objective. You survive until you can live. Your peers/community either supports you or not. And being the richest man (by perception) is usually not a good idea.

People gain skills and abilities when things break down. Just like your average man learns plumbing when he buys a house. (I hate doing plumbing...I'm an electrician) People who never learned to steal or rob become brigands because they feel they need to. Crimes of opportunity and great gain are attractant. The rumor mill usually works overtime.

A carton of Marlboro cigarettes is the same value as a prime rib of beef....but a gold bullion ounce bar is worth 18 prime ribs or 18 cartons of cigarettes or 18 ounces of Saffron. The bullion bar fits/hides in your pocket and weighs only an ounce and stays good for years and years.

If you spend one bar of gold....it's going to attract attention.

Again, it's relative. Whatever it is one would be purchasing for an entire 1oz gold coin would attract as much attention if not more, simply by not being able to conceal it. 1oz of gold is gonna buy a mountain of cartons of cigs. Kinda hard to hide that in your coat pocket. The kind of person, or persons who would kill you for an oz of gold, is the same kind that will kill for cigs, food, liquor, or medicine.
The best bet is to lay low till things settle down, and only trade valuables amongst your own trusted community.

 

[JohnDB]

Again, it's relative. Whatever it is one would be purchasing for an entire 1oz gold coin would attract as much attention if not more, simply by not being able to conceal it. 1oz of gold is gonna buy a mountain of cartons of cigs. Kinda hard to hide that in your coat pocket. The kind of person, or persons who would kill you for an oz of gold, is the same kind that will kill for cigs, food, liquor, or medicine.
The best bet is to lay low till things settle down, and only trade valuables amongst your own trusted community.

Absolutely...
I was trying to use an example of about a week's worth of consumables. An ounce of gold is about 5-6 months worth of consumables. A big attractive target all small and portable in a lump.

I was thinking about how much family you never heard from shows up to those who just won the powerball or megaMillions lottery. A bar of gold is almost like that to a small community.
Where large purchases are normal for things like houses and vehicles and etc....they still stand out to everyone. And when a society is breaking down and the banking system collapses....it's usually not the best time to make a large purchase until things stabilize somewhat.

Also for a time, organized crime rises up. This is your street thugs and former police and military people who band together to obtain their needs. Law and order tend to go out the window after a while.

The first rush is chaos and looting. Some try to evacuate the cities. Then the comes the quiet rise of thugs...roving about and extorting resources. ..after they kill each other off and you haven't died from starvation, disease, or the mayhem....you have a good chance to finally spend gold.

 

[g5000]

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?

I suggest you buy as many of those gold-plated commemorative coins they advertise on your favorite MAGA media outlets as you can.

 

[Vastator]

I suggest you buy as many of those gold-plated commemorative coins they advertise on your favorite MAGA media outlets as you can.

I'd stick with reputable mints that have near universal recognition. US gold eagles, and Canadian Maple leafs.

 

[White 6]

When the bankers pulled the ploy of not given a fair return a couple of decades ago that was a red flag. That signaled they were in charge, and we were using the fiat currency to life off of. They can tank this economy anytime they want. And they are part of the globalists.

I don't see any money for the bankers for tanking the economy on purpose. Heck, money is what they sell, so the biggest danger is their stretches to make more money, but the money must remain worth something to somebody. These idiot robber barons just fck up beyond the tilting point (now every few year, as we have proven we will bail them out to save ourselves, at least for later) killing some of their own while other of their ilk make huge profits, as money is like energy, to be created out of matter but never destroy, only moving from pots of higher concentration to pots of lesser concentration.

 

[d0gbreath]

If what you are predicting happens The Irish Ram, there is really nothing at all that you can do about it.
You could panic.

 

[sparky]

Getting the picture?

i'm starting to & thx John

A person can barter just about anything, and they do.

well yes, fact is i've a gaggle of preppers vying for piglets right now....

I don't see any money for the bankers for tanking the economy on purpose.

google derivatives W6, they were gambling on failure to grease their coffers

~S~

 

[OhPleaseJustQuit]

A person can barter just about anything, and they do. However both parties have to be in possession of a desired item, in a desired quantity, and at the same time. It can definitely be done. But gold, silver, and the like have universal value in most instances. Not to mention their durability, and portability.

.


Precious metals have been money for several millennia. I can't imagine that changing.


.

 

[HereWeGoAgain]

With gold being so high right now it's hard to recommend.
But then the dollar could be worth zero if they go with digital currency.

 

[White 6]

With gold being so high right now it's hard to recommend.
But then the dollar could be worth zero if they go with digital currency.

If Irish Ram is correct, it might go a lot higher. On the other hand, if I am correct and there is not going to be a crash of the worldwide economy and the US economic system specifically, you give good advice.

 

[HereWeGoAgain]

If Irish Ram is correct, it might go a lot higher. On the other hand, if I am correct and there is not going to be a crash of the worldwide economy and the US economic system specifically, you give good advice.

My Wife the CFO has a lot to do with my education.
On the other hand She's extremely nervous about our bank stocks.

 

[White 6]

My Wife the CFO has a lot to do with my education.
On the other hand She's extremely nervous about our bank stocks.

She hopefully knows more about your specific positions and holdings than I do, since I have no clue what your portfolio is. If she's thinks you need to make a change, then change. If banks are well managed, their stocks should be slow steady growth. If it has been soaring to new heights, she may be dealing with the knowledge that what suddenly goes up, often suddenly go down. Good luck with it.

 

[HereWeGoAgain]

She hopefully knows more about your specific positions and holdings than I do, since I have no clue what your portfolio is. If she's thinks you need to make a change, then change. If banks are well managed, their stocks should be slow steady growth. If it has been soaring to new heights, she may be dealing with the knowledge that what suddenly goes up, often suddenly go down. Good luck with it.

They dropped like a stone when biden was elected.
They were almost to our sell price before that was just over 40 a share.
Now they're around 16 a share which means we'd lose a substantial amount of money if we cashed in.
Our only option is to ride it out in hopes that biden is gone soon and a conservative takes over.
This has been true every time we were wanting to sell stocks.
If it doesn't go back up we have the potential of losing over 700K.

 

[White 6]

They dropped like a stone when biden was elected.
They were almost to our sell price before that was just over 40 a share.
Now they're around 16 a share which means we'd lose a substantial amount of money if we cashed in.
Our only option is to ride it out in hopes that biden is gone soon and a conservative takes over.
This has been true every time we were wanting to sell stocks.
If it doesn't go back up we have the potential of losing over 700K.

Not many conservatives anymore in the banking industry. That is why they cannot be counted on as investments, that is why they keep failing.

 

[HereWeGoAgain]

Not many conservatives anymore in the banking industry. That is why they cannot be counted on as investments, that is why they keep failing.

Not in Texas.
Weve made a shit ton of money on bank investments.
Especially on junk investments. You just need to know when to buy em and when to sell em.
With biden making banks fail left and right it does make it more difficult.
But in the end we should win out based on all the other investors who know their shit and havent bailed.

 

[jknowgood]

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.

Our money is fixing to be worthless.

 

[TheGreatSatan]

Democrats should leave their money in the banks and trust Biden when he says they're safe.

 

[jknowgood]

I am not doing anything since I am not scared by the echo chamber that I do not listen to.

Just go mess with that young girl!

 

[HereWeGoAgain]

Our money is fixing to be worthless.

There's definitely a strong chance of that happening.

 

[JohnDB]

There's definitely a strong chance of that happening.

Banking stocks will come back....its just going to be a while before they do. We are in the midst of a banking failure where banks have lost a LOT of money due to the bond market....which the Federal Government orchestrated.
Banks play heavily in the bond market. It's great when interest rates are declining but banks lose when rates are rising....and there's likely going to be some higher rates in the future.