Great Depression Countermeasures

 

"We Are In A Depression, Not A Recession"

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Since the mainstream media is finally admitting that we’re in a depression, I’m making this post for people to consider their options should banks become insolvent. -Marcus Hughes

A bank being insolvent means it cannot repay its depositors, because its liabilities are greater than its assets. The effect that a bank has if it becomes insolvent depends upon the availability of deposit insurance.

In a country without deposit insurance, an insolvent bank would not be able to repay people deposits in full. In the event of an insolvency, depositors would have to queue up with other bank creditors to reclaim whatever money they could from the bank. So, for every £1.00 the bank owed to customers it might only pay 90p or even less. - Josh Ryan-Collins, Tony Greenham, Richard Werner and Andrew Jackson, Positive Money

I foresee many people losing money on their investments. Thus, it bears considering one’s preemptive plans to prevent facing personal financial ruin because of the economy capsizing. The fact that the mainstream media admitted that we’re in a depression means that things have hit a catastrophic stage. The dominant society doesn’t admit to negative news that besmirches its image until things are past reconciliation. So, this warrants considering our personal financial health as individuals.

“U.S. Retail Bankruptcies and Store Closures Hit Record! Financial System Literally Unravelling”

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I talked to my insurance mentor to get his input on things, and he thought that I might be jumping the gun with my alarm. He believed that I should wait further to see how things play out. I’m sharing this with you—because like I told him, I’ll tell you—if banks become insolvent, then it’s already too late. During the Great Depression, once banks went insolvent, citizens kissed their life’s earnings goodbye. Banks won’t be able to disburse your money from them. However, this doesn’t mean that I believe we should pull all our money out of banks right now. We should transfer our money invested in various stocks and bonds that we only have minority ownership into (an) insurance product(s).

Banks going insolvent in a depression is the second-worst thing that can happen to a country. The worst is insurance companies going insolvent. Unless one’s insurance product is variable, it doesn’t lose money. Thus, moving one’s money into a fixed product is a safe way of making money while waiting for the United States economy to stabilize. If insurance companies risk insolvency, it’s because the company’s executives have invested in bad deals, i.e., American International Group, with its involvement with subprime mortgage lenders.

Therefore, one can view insurance as the last step at protecting one’s capital before exchanging it for precious metals like gold and silver.

“Is Hyperinflation Coming?”

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