pulling the banker plug

PULLING THE BANKER PLUG

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For a long time now I’ve been more nervous than a cat in a room full of rocking chairs over having money in the bank.  I had no problem closing my bank account a well in advance of Y2K, but that was also a gentler and simpler time when I didn’t have my paycheck deposited electronically ( Amazon used to charge you something like $10 to mail you a check rather than direct deposit your commission.  They might not even offer the check anymore ).  I understand there are options such as debit cards, but you save no money as opposed to a regular bank account.  And I prefer a local teller to calling a customer representative ( since the costs are the same, if not cheaper ).

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Being a bit extreme in my frugalness, I had avoided the monthly checking fee by keeping my balance at $1500.  But that was making me rather worried and panicked.  I knew the banking system would go overnight, without warning.  Too much money in the bank is a disaster invitation.  I can easily lose $100.  Not so $1500 ( a good part of my savings ).  I talked myself into leaving the money there by looking at what it would cost yearly in fees ( $108 ).  And hell, I even KNEW I was being penny wise and pound foolish. 

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I dither no longer.  It is time to pull the plug on my excessive bank savings.  I’ve justified it for a year, and the whole time I knew the excuses were lame.  No, I don’t want ALL my money in a buried cache.  But I also don’t want ALL my money to be “disappeared” by the greedy swine sodomizers.  More saved cash makes me nervous.  Any bank saving beyond a cushion ( my personal number is $100 ) makes me nervous.  I refuse to call beans or bullets “savings”, as you won’t be able to liquidate it, at all.  Precious metals make me nervous because if outlawed you’ll take a huge haircut liquidating them on the black market.

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So, I needed to pick the Least Evil savings vehicle.  Reluctantly I’m going with silver.  Why the reluctance?  I know that industrial silver mining is on its last legs.  When the banks go, funding for mining dries up ( most pure silver mines are running out relatively soon and most silver-as-byproduct mines are either overexposed to financial shenanigans or will lose credit to operate or will see a global industrial severe contraction negating demand for their primary ores ).  Silver, right now, is severely under priced.  I don’t side with the precious metal drones in their wild claims such as $10k gold and $500 silver ( although possible ), but I do think even if there is zero inflation silvers priced is manipulated down by the central banks.

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Silver will always protect you against inflation, but buying now does give you an artificially low price and does insure against future supply disruption.  I do view precious metals as way over rated by preppers.  Its main function is to transfer wealth to the other side of the collapse.  Asking it to perform miracles DURING a collapse is silly.  Which is kind of what I am doing here, but the difference is I’m only expecting it to serve in a economic collapse, not a social or civilization collapse.  It is only good in a semi-functioning economy, not a true collapse.

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I need savings, to substitute for a lack of a paycheck or any credit cards.  Any way I save, I am forced to embrace some kind of Suck.  This is ONLY picking the less evil, not eliminating it.  Which I think most preppers fail to appreciate ( including myself at times ).  We are already at the point in time where there are no more great choices.  The merely good choices are far and few between.  Mostly it is just choosing the less evil choices. 

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You can spend $200 on a pair of boots.  Or $50.  Both are crap.  The $200 pair will last much longer, but only in relation to cheaper boots made today.  Compared to yesterday’s boots, it is still crap.  I just saw an ad for $60 boots from Doc Martin.  They were vinyl.  What used to cost me $20 at Payless which lasted me years and years of hard use, now cost three times that amount and I can Gott Damn Guarantee you that they don’t last as long, not even for that brand name.  This is picking the lesser evil.  It isn’t a great choice nor even a good choice.  It is the choices we are left with.  The same with saving money.  No good choices left.

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As I said, this has been on my mind for some time.  What finally made me act more sanely?  To be honest, it was the new Jim Willie Golden Jackass article ( June 5, 2018 ) on Deutsche Bank.  Normally, his articles are just “spice” to me.  Doomer music for the background.  I don’t take his specifics seriously, most of the time, since he pretty much just repeats on a loop.  PetroDollar dying, new gold currency, etcetera.  Those are a given, but over the years they lose their impact when every event is one thing closer to proving his point.  I do the same thing, don’t get me wrong.  But at least I keep warning you that while I’m always right my sense of timing blows.

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Golden Jackass does nothing wrong.  Some might look at him as a Doom Porn Star, but I like his style and message.  He is one of the few not pimping for the imperial dollar, a rare breed amongst Yuppie Survival Scum.  I just don’t normally give in to his monthly panics.  Yet this time I did.  I think it was because of the OTHER background noise on the economy ( of which there is a butt ton ).  I keep saying “I got me a bad feeling on this one”, I know.  And yet it just keeps getting worse. 

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I guess I was just looking at it from conformational bias.  I KNEW the derivatives bubble is past due to implode.  So when Jim ( I give an automatic fifty percent increase in credibility to anyone named James.  Sorry, I know it is biased.  I don’t care.  Suck it ) told me What I Already Knew, I sold myself on my fears and paranoia.  Then, AFTER I made up my mind on this, I read over on The Burning Platform that On This Day In History FDR outlawed gold.  Well, damn, dude!  Is that a sign or what?  I’m placing my first order today ( I won’t put in one giant order.  Baby steps ). 

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I could be making a mistake.  I could be a genius.  Hell, I don’t know.  I do know this should help me sleep better at night.  This is the only metric I have for Prepping Decisions.
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Addendum: I bought from two companies.  www.goldenstatemint.com who had the cheaper price and mints their own ( supposedly negating any chance of Chinese counterfeit ), and www.apmex.com who were a quarter more per ounce but shipped like that hour ( the other took two days ).  Golden was $18.86 an ounce on $16.80 spot price, all inclusive with three day shipping with signature required.  Apmex was $19.10.  Golden was delivered in six days from order, including the weekend, with the other four days ( three day shipping, but there was Sunday adding an extra day ).  I bought four times as much from Apmex, so you are just paying extra for much faster service.  If you are buying much smaller amounts, these companies might not be so cheap.  You'd have to shop around if you did like one coin at a time.  And, I'm happy to report, all the coins were the Bison and Indian rounds, so that was cool.  Apmex had some official mint coins ( such as the Perth kangaroo coins ) that were about the same price, so if you only want "official" coins, they have that advantage.  Both companies seemed solid.

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