I've been freaking out about the incoming economic collapse...

>Silver
Why not gold?

Assets nigga. Assets.

Buy bullion with it. You can buy it by wire. Now what fucking report are you reading that we are facing imminent economic collapse?

Sauce? If there is a collapse they will delay until the opposing party is out of office.

uh, no they aren't.

jim rodgers and several youtubers (you can search economic collapse)

i know >youtubers but they have videos going over why the system is so fucked right now

lol those are not economists you absolute retard. The system is fucked but the people at the top will keep it propped up. Don't worry. As for crypto, it's doomed in the near term.

you're reading too much zerohedge

some areas of the economy are overleveraged (auto loans, student loans), but i dont think there will be a 2008 style collapse. the only reason that shook the foundations was because housing is a disproportionate amount of wealth for pretty much everyone. if anything there is just a slow decline in standard of living for most people. the dollar wont collapse either since its backed by the worlds most powerful military

stock market might correct, but i dont think there will be an epic collapse. its hard to tell what will happen since its fed money being funneled up there anyway, and rates are gonna stay low for a while

Lol Google economic collapse if you want a barometer for the health of our economy. Google faggot if you want to know who op is.

>i dont think
it will be much worse and see the return of debtors prisons and other crazy shit

invest it in physical assets that you need, buy some silver coins and invest some into crypto.

just diversify your wealth with stuff you can easily exchange with.

dont go all in though, may regret it if the 'crash' doesn't come fast enough.

so much wealth will be produced by machines and automation that its not even worth putting people in debtors prisons because who fucking cares if they cant pay. money is already meaningless since the fed basically gives it away for free to banks. theres enough to go around. also, UBI is the next political meme, which the wealthy are huge proponents of since they know it'll quell the masses. if people start going to debtors prison, there will be more unrest, which will backfire against the elite

gold is for niggers

Turn it in to wealth.

Buy food, gold, silver, crypto, bullets, guns, land.

Any dollars you have will evaporate. Get out of fiscal currency.

There are several signs you need to know.

1, monetary systems have an average 40 year life spans. Because thats how long it takes the government to completely fuck it up. We are past 40 years on our current one and I think everyone will agree the government went and fucked it all to hell.
2. the market is bloated with fake wealth. Its propped up with all the money the government has been dumping in to it. Its going to pop soon.
3. Qatars banks are all bankrupt as of this week, we dont know what the effects will yet but it could have a domino effect
4. That bank in Germany is going to go belly up soon.
5. We have 10s of trillions in endowments that we dont have the money for coming up, thats both the US and Europe.
6, China and India are buying all the gold they can get. Canada has no gold left. USA may or may not have any gold left.
7. Record numbers of people have stopped paying off their credit cards
8. Defaults on car loans are rising.
9. currency velocity is at 1929 levels.

Its going to get bad soon and you will want everything I mentioned in my previous post.

OP it's FDIC insured. Doesn't that mean you'll get your money back no matter what?

When everything costs 10000x more during the collapse, who cares if you get 100k or whatever from FDIC

I thought it was for the jews

IF THE BANKS COLLAPSE CRYPTO GETS MORE MOENEY YOU FUCKING RETARD

The fuck does anything have to do with the "opposing party" you stupid dunce

He clearly is a small minded moron and thinks this has anything to do with parties. Sure its got to do with politics but its the entire government since the end of world war 2 that has lead up to this point. Actually, it started back in 1913, come to think of it.

I'm interested in discussing your points because I do feel like perhaps we are going to the 1930s again. I've been putting every paycheck into crypto (BTC, ETH, FCT, no other alts) and gold. Whether or not things crash those are still stores of value which is good.

How long do you think we have, based on all the things you've read up on?

You know how these things go. It takes a single event to trigger it. The weakest link to break. Trumps presidency delayed it but we dont know for how long. Most people are saying this summer, July, August or September.

We've been listening to people saying this since the moment btc became a thing...

Yeah, you can delay it but you cant stop it. New technology always prevails. This is the first technology that threatened the banks though. I feel it has a hard fight ahead of it. At least you cant assassinate a block chain.

Why isn't anyone responding on this post?

If this is the case bitcoin is fucked anyway.

If we get to super levels of hyper inflation no one will want bitcoins

They will be too busy trying to get food with their days wages

In times like that it's good to have assets.

You should to look up the difference between currency and money. Cryto, despite its name, is money, no currency.

infinite cryptos make it currency?

Anyone else think the Ilinois bankruptcy could be the Black Swan Event here in the US?

This shit has basically all been true for the better part of a decade.

Now that sounds pretty gloomy

not if crypto goes down aswell

>How do i get this money out of the bank?
I would put it all in XRP and be a bank in a few years.

Except you didn't mention the biggest ticking time bomb - Commercial/Retail leases. This is what will cause shit to hit the fan soon. The largest number of said retail lease contracts expire this year and retail is fucking in bad shape. If commercial leasing tanks, everything will tank, Possibly 2008 style.

We do luxury vacation rentals in a beach town. Real estate flies off of the market down here. But, on the rental side of things there is definitely something going
on. People aren't coming this Summer like they have in the past decade. I think they don't have the disposable income to spend on vacations like they have since 2010. Not a good sign and in an industry I know like the back of my hand.

bitcoin, obviously.

after people see bitcoin stability compared to the US financial system in the next crash (soon) we are going to $100k/btc

I've heard they will let the Dow run up to about 35,000/40,000 before the second great depression comes our way.

You know what to do.

Most people dont. The average income has not gone up since the early 80s.

Interesting. I was just discussing buying and renting vacation houses with my mom. She has a lot of money to spend and was thinking of buying said houses.

Told her not to because of the high correlation between the state of the economy and people's leisure spending.

Banks generally only insure very small amounts (like 10k, anything beyond that is not insured).

I think property is a good place to put your money though. If you are outright buying it and not getting a loan for it and its not near a major city. You may need a place to bug out to. If its near the ocean, you could buy a boat and become a fisherman if the worst case scenario plays out.

I don't necessarily agree: properties are currently outrageously overvalued the world over. That may not be the case for vacation properties however, I don't know about those.

And you didn't mention the even bigger ticking time bomb - unfunded pension liabilities. Baby boomers are retiring soon and we are completely fucked with the amount of unfunded liabilities floating about

I can get you that cash easy but I want 10k for knowledge. Ready faggot?

Guys, if the banks collapse, how will people afford crypto?

Thats true. You can get it half price after the crash. But do you have a contingency plan? We have tons of family that live out in the country side and we already live in a small town. We have backups for the backup. I was just thinking a vacation home would be a good backup.

buy gold

>homeowners have more debt than they did after 08
>the stock market is incredibly overvalued, ( 150% of gdp)
>home ownership down and renting is up
>fed tightening rates with no data to justify doing so
>entitlement programs becoming insolvent

I highly doubt shitcoins, which are a speculative asset which is only useful to criminals will be worth anything when shtf though.

Everyone who knows about them will panic-buy, driving the price sky-high. Nobody will sell while the dollar is in freefall, confirming the price. Once the dollar stabilizes, people will only cash out in batches on an as-needed basis since it will have proven a great store of value.

People buy crypto with their disposable income, if we enter a recession disposable income will drop. I dont know what will happen to crytpo during a recession but that is something to consider. Does anybody know of good a good write up or prediction of what will happen to crypto during a recession?

coins will only increase in value so long as there are enough goys buying them with the hopes that they will increase in value. gold is historically proven to be the best hedge again weak currency.

This has been planned for centuries. They WILL freeze banks worldwide and seize all the assets. Buy gold, bitcoin, fine art, guns, ammo.

youtube.com/watch?v=BIgGOovWR3E

youtube.com/watch?v=6X_xB1JJ_Es

>the incoming economic collapse
sauce?

The fed started unwinding the balance sheet you idiot

There's hasn't been quantitative easing since 2015

Rates go up 25 basis points Atleast 2x a yr from this point

>keep going in and asking for $3000
Guaranteed way to get the government to take your money away from you with force. It's called structuring and civil asset forfeiture. It's happened before many many times where someone repeatedly takes out small amounts and then the swat team shows up and raids his home and business and drains everything from all his accounts.

>Do I just keep going in and asking for $3000 and keep it in a safe in my house?
If you really think the economy is gonna collapse you some of that money now to buy things of actual value (not gold btw). Water, food, guns and ammo, etc.

But you're probably just hungover and feeling some sunday anxiety for no reason and tomorrow you'll go back to work and forget about what you heard the x22report say.

>t-the banks will really collapse this time, h-honest
nah the taxpayers will just bail em out again lel

Cash is an asset

Isn't structuring when you deposit small amounts to add up to 10k, not withdraw? This country is fucked either way.

I like how none of the fags predicting 2008-style collapse here ever put their money where their mouth is and short the whole market

really makes u ponder

I got out of the market last week, actually.

Getting out of the market is not the same thing as shorting it, doofus

rates are being raised by tiny amounts so the fed will have room to lower them again while claiming to be "data-dependent"
>inflation
"the market can remain irrational longer than you can remain solvent"

Just put some money into an inverse ETF if you're so sure of the inevitable incoming catastrophic economic crash

you won't because you started spouting this doom and gloom nonsense because you read zerohedge for the first time last week, kek

Yeah, it pretty much is, because im pretty sure at some point in the future all my stocks will be trash with out notice.

>Yeah, it pretty much is,
It's not you idiot, shorting has infinite downside or potential of loss

bank fag here. you're 100% right on the auto/student loan stuff, and fraud and stated income/stated asset loans were the cause of the 2008 collapse. credit guidelines are much tighter now so we know when people are going to default on us. the problem is people still can't afford they houses are in, so instead of foreclosing on them we are putting them all in govt subsidized loss mitigation programs, where in a healthy market we should just be letting them default. the way I see it we are putting brain dead (unemployed, underemployed, etc) people on life support machines, and it scares me because I have no idea what's going to happen because of it.

So what? Yes it inflates. So do home values, stock prices... Pretty much any capital good.
What constitutes an asset in your opinion?

also no one puts 20% down anymore. if housing prices plummet everyone will be underwater again. and housing prices are at their 2006 levels (not accounting for inflation), so there's that too.

Your way to paranoid about something that probably won't be as dramatic. But if you are worried I would suggest a diversified position in gold, silver, and guns/ammo

Why should anyone take your opinions seriously when you don't even understand what short-selling is?

no one puts down a big down payment because rates are so low.

Why would put down 20% down payment when I could put down a 5% minimum downpayment, if the mortage interest rate is 3% and I can invest the difference at 20% return per year

>Don't worry, it's too big to fail, remember last time?

This is how you know it's actually going to happen this time.

I seam to be the only one who knows what short selling is and getting out of the market completely because a crash is looming is the exact definition of short selling, though one a longer scale.

I don't get it.

If the banks crash everyone is screwed anyways, it doesn't even matter if you pulled out or not. Your money is worth nothing.

You are neither at an advantage or disadvantage to anyone.

There is literally nothing to worry about.

pro tip: the banks aren't going to crash.

There will be a stock market correction of in the magnitude of 10-30% and that will be it.

If the economy collapses all that money in your safe is worthless you fucking retard. Buy gold with it, or bullets and guns and water.

>Why would put down 20% down payment
so when the housing prices dip you aren't underwater, and so you don't have to pay PMI which is effectively giving the bank free money, that's why. there's a lot of factors/costs you aren't taking into account. people should be putting more down in a price bubble. your investment performance will need to outpace interest paid on the extra money you borrowed, PMI, and housing price fluctuations. after a crash, go nuts, put 3% down and refinance when you have 20% equity to get rid of PMI, or do an 80/20 piggy back so you put 0% down and don't have to pay PMI at all. there's a reason everything went to shit after we started giving away free money.

the banks were screwed last time because of the poor quality of credit and rampant fraud. they are prepared this time and it's just the consumers that will be screwed. source: bankfag

>getting out of the market completely because a crash is looming is the exact definition of short selling
holy shit no it isn't, you are completely retarded lmao

> you wrong because I say so!

Offer a counter point then.

Maybe the states is different.

I live in Canada where the housing market does 20-30% a year for over 20 years now and didnt even dip in 08 and made a killing through leverage

Go look up the definition of shortselling dipshit.

That's not what it means at all.

PROTIP: you make money when the market goes down

There won't be a crash until oil prices spike again. which could happen soon.

Fracking is a one trick pony. The wells only produce for about a year. Oil production has peaked. Believe it or not, we're at peak oil right now!

Not with over 500 trillion dollars of derivative exposer they arnt.

You don't even know what short-selling is and now you're trying to talk about derivatives? LOL

Short selling is when you borrow shares with the expectation of covering the cost to borrow at a lower price.
Say I short bitcoin at $2500 and I borrow 1 btc.
Price moves down to $2000.
I buy 1 btc to cover and have made $500.

I don't mind ignorance on this board but I do mind when the ignorant try and give advice.

Not him but your type of explanation is what made me confused initially. More specifically:

I borrow 1 btc and sell it on the market for $2500
Price moves down to $2000.
I buy 1 btc to "repay" the lender and have made $500.