RE: Deutsche Bank Hangs By A Thread On Eve Of Jubilee
The world really does need to embrace money that is not simply made from thin air or created with nothing backing it other than a promise. Cryptocurrencies, in my view, are great because if these banks truly are on the brink of collapse than we need some global form of funds that are not subject to the speculation in stock markets, which many large banks do, derivatives being the worst of the worst. I hate the fact that people and corporations have so much power over the entire world economy and if it collapses what are we to do? Seriously. If the bank system devalues fiat currency and non-gold/silver backed monies than what does the average joe do so he can simply buy food or gas to go to work let alone will the electricity still run if an American dollar is worth a penny and pur bill is $100? What would the effects be in such a situation? Whats the best thing to do? Pull all my American Dollars put of the ATM or what? Buy silver ingots or coins? I seriously dont know the answer.
Absolutely pull all of your cash out of the bank. The worst that can happen is that you have paper money to barter with (if you don't have time to convert it to silver). I advise that you use the cash you have to stock up on ammo. Ammo will be the most widely accepted currency in case of a blackout, or EMP event. The silver that you manage to stack up only after you have at least 6 months of food, water and ammo taken care of will create generational wealth in the years to come. Silver and Gold are not something that you want to be bartering with for food!
Thanks for the reply. I'm a Marine and have two bugout bags for me and my wife and two kids with the intention of making two more for them. We have a stock of rice and beans and filtered h2o that would amount to roughly six months of food (however boring) plus whatever is in the fridge/pantry. I have plenty of knives but only one firearm a Glock G30S which is the subcompact .45. I have roughly 200 rounds for that in my BOB plus four magazines loaded up. I want to buy a shotgun and modify it for a more broad 'point and pull' weapon for defense as well as a AR15 (even though I would prefer the originally designed AR10 which shoots 7.62 rounds instead of 5.56. But in the near future I will be buying parts to assemble my AR15. I also have two 80% AR15 lowers which I hope to be able to complete soon. So since we are all mostly using Dollars or some other fiat currency what will be the impact crypto currency will even have if an EMP or other catastrophic event were to happen and destroy our network? What good is a million dollars in Bitcoin if we can't use it? Not trolling I really want to know. But as for your tip I will be buying some boxes of Ammo today. Some shotgun hollowpoints and buck shot rounds, some .45 for my sidearm and some 5.56 and .223 for myself and also some 9mm to barter since that will most likely be the type of round most people will be using/wanting. I also want to get a crossbow bc The Walking Dead has made me see how effective it is when wanting to kill something without much noise. Silly I know. I completed S.E.R.E. as part of my Marine training as a CH53e crew chief/door gunner and I am fairly good at hunting and trapping. But man I just really hope things stay as they are. My kids are 10 and 7 and it would be so tough to care for four of us in the woods. My wife is a Nurse so she has/we have been stacking antibiotics whenever she can get her hands on some that will be thrown away (government overspending). We have a nice cache of medicines. Anyhow this reply is becomming quite long. Thanks for the tip and for your time in writing it. I will convert some $ bills into some BTC but other than that I'm getting ready for a world without electricity so my focus is on improving my bug out bags and making sure I have a plan on where to go when sh*t hits the fan. Attempting to buy property in the mountain woods of upstate NY with family right now and another piece in Maine for me plus three. Want to have caches in each location and keep going North should things progressively get worse. Anyhow thanks again. Just blowing off some Steem ;)