3 Things You'll Want to Own If the Sh*t Hits the Fan

Above, the ammo shelves at the Albuquerque Cabela's. Photo by Armand Vaquer.

Some people are starting to relax a bit when it comes to the current financial situation. The actions the Federal Reserve has taken in the aftermath of the bank collapses, even though some of which are misguided and stupid, have calmed them a tad.

But there are those who aren't quite that confident of things and are preparing for worse-case scenarios.

Yahoo! Finance posted an article on three things you'll want to own if things go, well, see the title of this blog post (it's also Yahoo's article title).

They start it out with:

As the world watches with trepidation the recent string of bank runs, liquidity crises and outright failures sparked by the collapse of Silicon Valley Bank and Signature Bank, many are considering where this crisis will lead.

The global banking system is surely in hot-water at the moment, but most analysts only see it as a temporary, solvable problem. It would probably take an extreme, rare crisis of a much larger scale to take global civilization down.

While the likelihood of a total societal collapse is extremely low, you still might want to prepare for the worst. In this article, Benzinga discusses three essential items you'll want to own if the unthinkable occurs — gold, ammo and alcohol.

To read more, go here. 

Will Bank Collapses Cause A Run On Gold and Silver?

Above, 2022 Canadian silver Maple Leafs. Photo by Armand Vaquer.

People are anxious over the banking crisis.

They are concerned that their bank savings accounts will go up in smoke, leaving them flat broke. They are beginning to turn to buying precious metals such as gold and silver.

The question arises, will this cause runs on gold and silver, thereby driving up prices?

An article in Yahoo! Finance takes a look at this.

They begin with:

The recent failures of Silicon Valley Bank and Signature Bank, two of the largest banks in the United States, piled on top of existing crises like inflation and the war in Ukraine, have raised concerns about the stability of the global financial system.

As investors search for ways to protect their wealth in these uncertain times, many are looking to precious metals, especially gold and silver, as a safe haven. The question on the minds of countless experts and analysts is whether bank runs and failures could lead to a run on gold and silver, driving their prices up.

The failures of Silicon Valley Bank and Signature Bank have exposed the vulnerabilities of the banking system, even in developed countries. In light of these incidents, some experts are warning that more bank runs could occur, particularly in the face of ongoing global crises such as geopolitical tensions, inflation and economic uncertainty. As these factors continue to shake the financial world, investors are turning to gold and silver as a means of preserving their wealth.

Analyst Mike Gleason of Money Metals Exchange explains in an FXStreet article that bank runs can lead to a run on gold and silver as investors seek to safeguard their assets from the risks associated with traditional banking institutions. Physical gold and silver can be a great choice in these situations because they are considered some of the best safe-haven assets and incur no counterparty risk.

To read more, go here. 

Biden: Banking System Is "Safe"

The man who has the "Midas Touch in reverse", His Fraudulency Joe Biden promised today that people should have confidence in the banking system after two banks went belly up last week.

The Daily Caller reported:

President Joe Biden addressed the closures of Silicon Valley Bank and Signature Bank on Monday, telling Americans to “have confidence” in the banking system because the administration is taking steps to hold those responsible “accountable.”

The president promised that the banks’ customers will “have access to their money” on Monday and that taxpayers will not be forced to bail out the banks.

The Federal Deposit Insurance Corporation (FDIC) took control of the New York-based Signature Bank on Sunday after the Friday collapse of Silicon Valley Bank (SVB). The collapse of SVB is the largest bank meltdown since Washington Mutual in 2008, and will likely have reverberations across the tech sector.

When Biden said that those responsible will be "held accountable" over the fiasco, two thoughts came immediately to my mind: "That'll be the day!" and "This I gotta see!" 

I don't see how anyone would have any confidence in anything Biden says or does. He's been a disaster since day one.

To read more, go here.