Afternoon everyone….
With the newly voted in President Trump taking office. I think it’s a good time to talk about being prepared. While I have no interest in talking politics, in my opinion neither candidate was fit to be president. They both suck are too old for office, and untrustworthy and have tons of baggage.
With that being said…
We are now in a society that we are pretty much tracked with everything we do. Our phones track us, our vehicles all have tracking devices built in. There are cameras on many of the streets and most of the highways. Our bank transactions are monitored.
The only way to prevent being tracked in one way or another is to throw away your cell phone, move into the woods and live off the grid. For most of us that really isn’t a viable option.
But there are ways to limit the amount you are tracked. Without going into all of those options, the point I’m trying to make is that if you are relying on banks and corporate entities with your money, you probably are not going to like the final outcome.
After the 2008 bank crisis/bailout, a bill was passed into law preventing another bailout. Instead it’s a bail in now. You can look it up for yourself, but in a quick version. You are merely a shareholder of the bank with your money. It can be taken from your account if certain factors occur. One of which is a bank crisis like we had in 2008. It gives them free rein on your money. And if the think the FDIC or any other bank institution insurance is going to help you!!!! I feel bad for you thinking that.
Yes holding physical precious metals is good, but if you are storing them in a banks safety deposit box you have a very good chance of not being able to get them out in that time of need or possibly ever.
Now I’m not saying holding them in your house is the best option either. Unless you have the proper safe and proper protection to prevent them from being stolen.
Years ago I did tons of research, which ultimately lead me to the private security place I keep my metals at. I have 24/7/365 access to my metals. While I do own guns and have a small safe. I only keep documents in the safe.
Here is a very appropriate round for today….
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The ancient Egyptians devoted the most time and effort to security devices. Yet all their royal tombs, with one exception (Tutankhamun), were robbed. Good luck in your efforts.
!HUG
Hence, be your own Central Bank!
But first, be your own Financial Planner and get educated in it.
Being your own Book keeper and Brinks Guard are recommended.
!PIMP
No doubt my friend. I couldn’t have said it any better.
That's a crucial point. After the 2008 financial crisis, significant changes were made to prevent another bailout scenario. The Dodd-Frank Wall Street Reform and Consumer Protection Act introduced the concept of 'bail-ins' to place the burden on shareholders and creditors, rather than taxpayers, during financial distress.
Holding physical precious metals can certainly provide peace of mind, but storing them outside a bank's safety deposit box is a wise consideration. You want to ensure accessibility in times of need.
Thanks for sharing these insights, @silverd510! It's always important to stay informed and prepared.
!BBH
!LADY
!PIMP
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Most people don’t realize that the bill was passed. It a wake up call to those that don’t. That’s why my metals are in a private security place.