Pull up a chair folks, we need to chat a bit. As I expected when news of 3 different banks went belly up, I got a lot of Emails from people in a bit of a panic. “What do I do?”” was a common theme.
The most common question was about gold. “Should I take my money out of the bank and buy gold?” Then there were the ones asking about “should I move my money to smaller local banks, or stay with the big one’s?” The list of questions is pretty long folks.
But to be honest with you and I try and be as much as I can, the questions sort of “bothered” me. If you’ve been reading what I write for any length of time, you should know the basic answers to these types of questions. Now I don’t want to sound snarky here at all, I’m just being serious. We’ve put out two articles a week for over 25 years. Every one of those type questions has been answered in the past.
Which means I either don’t get the message across properly, or some folks don’t “get” what I mean, and others simply don’t/didn’t believe that big trouble could come. But trouble will come. Remember the series I wrote about Dark Winter? I didn’t write that to show you that I know how to grow vegetables, or shoot guns. I did it because trouble is indeed in our future.
So let me see how much of this I can pack into a single article. We are in a debt based system. As completely bizarro as that sounds, our economy is based on the idea of ever rising debt levels. Let me ask you a question, how many times since say 1970 have you heard people in Congress say that they have to get spending under control and our National debt reduced? A hundred? Five hundred? And how has that worked out?
Here's the little secret that they don’t want you to know. They NEVER plan on paying back the debt. The system was designed to be milked for all they can get out of it. Very bright people many decades ago knew exactly how to create a stable vibrant economy, one backed by “something.” But they shelved that idea for a fiat, unbacked, unlimited debt deal. Why? Because if you can print so called money out of thin air, why not print the hell out of it, use it to build roads, and bridges, and military toys, and rockets and “stuff” you want? Then when the debts are at the most unimaginable levels, when it’s impossible to keep playing the whack-a-mole game, you simply default on it all, and then “restart” with a stable currency backed by something. Gold comes to mind.
Pull up a chair folks, we need to chat a bit. As I expected when news of 3 different banks went belly up, I got a lot of Emails from people in a bit of a panic. “What do I do?”” was a common theme.
The most common question was about gold. “Should I take my money out of the bank and buy gold?” Then there were the ones asking about “should I move my money to smaller local banks, or stay with the big one’s?” The list of questions is pretty long folks.
But to be honest with you and I try and be as much as I can, the questions sort of “bothered” me. If you’ve been reading what I write for any length of time, you should know the basic answers to these types of questions. Now I don’t want to sound snarky here at all, I’m just being serious. We’ve put out two articles a week for over 25 years. Every one of those type questions has been answered in the past.
Which means I either don’t get the message across properly, or some folks don’t “get” what I mean, and others simply don’t/didn’t believe that big trouble could come. But trouble will come. Remember the series I wrote about Dark Winter? I didn’t write that to show you that I know how to grow vegetables, or shoot guns. I did it because trouble is indeed in our future.
So let me see how much of this I can pack into a single article. We are in a debt based system. As completely bizarro as that sounds, our economy is based on the idea of ever rising debt levels. Let me ask you a question, how many times since say 1970 have you heard people in Congress say that they have to get spending under control and our National debt reduced? A hundred? Five hundred? And how has that worked out?
Here's the little secret that they don’t want you to know. They NEVER plan on paying back the debt. The system was designed to be milked for all they can get out of it. Very bright people many decades ago knew exactly how to create a stable vibrant economy, one backed by “something.” But they shelved that idea for a fiat, unbacked, unlimited debt deal. Why? Because if you can print so called money out of thin air, why not print the hell out of it, use it to build roads, and bridges, and military toys, and rockets and “stuff” you want? Then when the debts are at the most unimaginable levels, when it’s impossible to keep playing the whack-a-mole game, you simply default on it all, and then “restart” with a stable currency backed by something. Gold comes to mind.
You might laugh out loud at what I just stated, but it is indeed not just fact, it’s reality. Look around. Do we have trillions sitting around to “build back better?” Nope, but with some hocus and a bit of pocus, we can magically conjure it up, and literally spend it into existence in the economy. Magic I tell ya.
Now the problem that you and I have is this…we don’t know the day they decide to pull the plug. It could be today, it could be in 2 years, it could be in 2030. But sure as that glowing sun rises each day, one day our system will be taken down and replaced.
I don’t believe that day is now. It could be, but I think the WEF people and their zombie followers have more work to do before they’re ready for the real melt down here in the US. Too many people are still getting rich off such lunacy as the Ukraine war, big pharma’s billions, and such.
But one day it will happen. So then what? I’m fond of saying that it depends on how far you will let your mind wander as to the extent of their evil. In other words if we were to wake up next Monday and all the banks were closed, the stock market down 25,000 points, rolling blackouts, warnings coming over the emergency broadcast system that a massive cyber attack has happened and we’re in an extended emergency situation… what would count as “money” might be quite different.
Money in a situation like that, would be food. Water. Barter items. Booze, cigarettes, aspirin, tools, etc. But what if it’s not that dire? Maybe just some hard times, but we’ll get by somewhat normally? What makes sense in a future that’s not “mad max” but not so hot?
Sometimes we have to study the basics. You don’t build a house without a good foundation. Well what has functioned as money for thousands of years? Silver and gold. So history tells me that having some of both makes a lot of sense. A foundation, so to speak.
Now, I’d bet that 90% of you are involved in some form of 401K or similar. Years ago, you’d actually have had a “pension” account, but they did away with those. Now being in a 401K has not been a bad thing for you. The market is rigged to go up and if you’ve been in it for 30 years, you’ve made money. Lots of it.
But nothing grows to the moon, and these markets won’t either. This market, like our economy will be crashed on purpose at the time of their choosing. That “time” is when it is absolutely impossible for them to keep the wheels on things as the debt grows by hundreds of millions a day.
It's so criminal, and yet the average person doesn’t see it. The Fed looks you in the eye and says we “want/need” 2% inflation. Why doesn’t anyone have the back bone to ask “excuse me. Are you telling me that you want the purchasing power of my dollars to fall 2% every year???” Because that answer would have to be yes. Well what’s your dollar going to be worth in 25 or 30 years?? Since the inception of the Fed, the dollar has lost 96% of its value. Some great job they’ve done, eh??
Yet they parade that number as some form of miracle holy grail. It’s criminal. Anyway, what to do about it? 401K’s are hard to take money out of, because they’ll penalize you bigly. But I’ve written articles about how you can roll over 401K money into a gold IRA with no tax liabilities.
As far as cash you have in the bank.,. that to me is risky business. Once they made the idea of bail in’s a reality, that was the alarm bell to me. I try and only keep enough cash in banks to pay the bills and have a cushion. Now as far as do you go smaller local bank, or stay with the JPM,s and Banc of America’s and Wells Fargo’s… the answer is yes, IF you can find the right one.
One of their evil plans is to take down the smaller banks, buy up their assets for pennies and make themselves bigger. Just like 90% of your news comes from just 6 major corporations, they’d love for 90% of all banking be done at the 6 or 7 majors.
But once they have that level of control, they can literally do anything they want to you. What could you do about it? Not much. So yes, if you can find a small local bank or credit union that’s been around for more than 10 years, has a good solid President/ CEO, and hasn’t been reckless with their customers money, I’d say you’re better off.
One of the benefits I had years ago living in the boonies of Pocono Penn. Was that my local branch bank was so small we had Holiday parties with the President. He’d been a banker for 56 years and his bank was fine and dandy. Finding a gem like that is hard now adays, but they’re out there.
The speed at which they came in to “rescue” the depositors in SVB suggests to me that they aren’t ready to do the rug pull yet. That’s good because it does give you time to shore up your own plans. Is gold worth having? Well it’s never been priced at zero. But 150 currencies has. How about silver? Poor mans gold. Works in many countries today as money.
I expect the next 5 -7 years to be pretty rocky. We’re going to see all manner of crazy, from an escalation in Ukraine, to who knows what. WWIII? Will there be a presidential election next year? Will they let loose another pandemic? Lots of questions folks. Use SVB as a real wake up call. The warning shot. There’s no need to panic, but there is a need to be prepared. Work on it. Good luck.