Should I pull all my money out of the bank and hide it between my mattress, assuming the worst is going to happen with this economic crisis?
by 
Chris Hansen
ANSWERS: 6
-
Sure, thats where I am hiding mine.
-
It is tempting to do that right now.
-
well see the real problem is you can save all your money and put it in a jar or under your mattress but it won't make any difference because when the economy crashes the money you have won't be worth squat. It will be worthless basically. If the banks don't keep it all those that get anything back will only get cents on the dollar and paper money will be as worthless as the paper it is printed on for those that horde it at home. The only thing that will still hold value will be gold or silver...so my advice is to put all your money into gold and silver bars.
-
Binary J is absolutely correct! The Federal Reserve isn't taking the $700 Billion dollars from the tax payers, it's printing/creating the money out of thin air. The value of your dollars is disintegrating. As more and more dollars are put into circulation, the vaule of each one becomes less. It's like adding water to orange juice, as you add more and more water, the concentration (purchasing power of your dollars) becomes less and less. This video totally opened my eyes, it's kind of long, but the information in it is really good. Monetary policy is the most critical issue facing the country today. If you really want to protect your wealth in these turbulent times - get rid of your dollars, trade them for an actual store of wealth, like gold and silver. Gold is money, Silver is money, dollars are pieces of paper that are backed by absolutely nothing. And when I say to buy gold and silver I don't mean to buy gold and silver stocks, go out and buy the actual physical metal - and store it yourself.
-
You can't by groceries with gold. If you sink all of your money into gold, then you will have to convert it to cash to buy food. Who's going to buy your gold from you if times go bad? How much will you accept for it? If your kids are hungry, and the jerk who does have a little money only offers you cents on the dollar for your gold, then you'll take it. Why not be the jerk with the money instead?
-
It doesn't matter where you keep it if the "worst" happens, your money will lose value in under your mattress, in the bank, or not matter where. The value of money is tied to the economy. If you can, buy something of value with your money, such as a water well or a fish farm, so that if the really worst thing happens, you will have food and/or water, something to bargain with.
Spicy Hot RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC