What's going on guys there's a lot of Questions coming around the Silicon Valley Bank or the svb and of course it Had a total collapse this past week a Lot of people have been panicking about That not just if you're an investor in Svb but just other banks that could be Possibly affected one of the things About our banking system is it can cause A domino effect if there's Panic there Have been a lot of policies in place That have strengthened Banks since the 2007-2008 crash that we had but this is Still concerning but there are a lot of Major companies like Etsy Roku a circle Which is a cryptocurrency a depositor There's a number of other companies one Of the biggest fears is that these Companies will not have the working Capital to number one pay their Employees to pay payroll secondly just Working capital that it takes to go Through and just have a business that Functions over 90 percent of the Customers at svb have well over two Hundred and fifty thousand dollars in Those accounts which the FDIC insures That amount But now of course the federal government Has come in and said they're going to go Beyond that they're going to take care Of the money that's in those Banks the Problem is a lot of the investors They're just going to lose out but
That's just part of the game but it Looks like things are going to level out And we're going to not be in a panic but Let me just say this guys you know I've Even considered at one point this past Weekend going on Monday and maybe Withdrawing some cash out of my bank but We have a local bank and that's one of The things that's really good to have is A Community Bank in your area that you Can trust and you can depend on that's Not going out and and really one of the Things that Silicon Valley Banks did was They invested in a lot of honestly woke Type companies and those companies just Didn't make it they were high risk and They put a lot of money into it a lot of Other things and I'm not going to go Into it because you can read all this Stuff in the news but the fact is is we Need to take time to look at what if we Had a banking collapse and so how do you Protect yourself from those kind of Situations I mean you may have a lot of Money in the bank and guys it could be Gone but to survive and to continue on What are you going to do Uh first thing is is have cash Definitely have cash around I can't tell You how much you need to have it's all a Matter of your bills and the things that You have because just like in Greece Right now ATMs are limited to how much You can withdraw and I mean very limited
And even using your bank card you're Limited with daily limits on what you Can use and a lot of countries that have Gone through this same thing they put Big limits on the amount of money you Can withdraw so you need to be able to Buy food you need to be able to take Care of just basic necessities pay your Bills and if you can't withdraw that Much money it can get really tight so First thing is is again having cash Second get out of debt get out of debt Get your stuff paid off get your house Paid off or at least get it ahead with Payments and your vehicles credit card Debt definitely get rid of that number Three and this is a big one guys and I Talk about this a lot is investing in Precious Metals that's God's currency And that's something that has been Around for a long time it has been the Medium of exchange since it was Discovered and having precious metals Put back it gives you tangible ass sets That you can hold on to one problem with Having cash is that in a real collapse We could have super high inflation or Hyperinflation that would devalue our Cash down to pretty much nothing there's Tons of documentation of countries that Have gone through this that are carrying Wheel barrels full of cash to just go Purchase groceries and so we need to Have that backup plan and the one thing
About precious metals it's recognized All across the world and there's a lot Of different uses for it I've talked About that a long time one that I would Highly recommend is Scottsdale mint I've Known those guys for over 10 years They're just solid and they meant coins For over 20 countries in the world so It's an excellent resource but there are Other options out there but precious Metals that's a big deal and having it Put back it'll allow you to have some Kind of currency and you can sell it you Can trade it you can barter with it high Value items that you have being able to See sell those items and there's a lot Of different ways you can do it of Course word of mouth but also Facebook Marketplace different online sources to Be able to take these high value items That you can turn into cash to be able To pay your bills but guys to the heart Of the matter I mean we're Preppers this Is the sensible prepper Channel and Prepping having food having water having Things put back that you need to get Through a tough situation one of the Things that I just really realized this Past week is you know we're a very Consumer driven Society here in America Especially we have storage units full of Stuff everybody has things packed in Their attic they have more than they Need one of the things about that is
That you have a lot of items that you Can barter and trade with and so if you There's a market that pops up you can Take a bunch of items up there that You're not going to use other people may Need them it may need them just around The house they may need them to do Things it may be a project they're Working on and they can find find those Things at a market and be able to barter And trade and so it's one of the Blessings which probably the only Blessing of having so much stuff is that You have a lot of resources to be able To use those to barter and trade Guys again I'm not a financial planner I'm not an expert but I think it's time To take what we're going through right Now and be motivated to get yourself in Really good shape guys if you have some Extra gas cans around and they're empty Fill them up fill up your car with gas Do those things that we've been talking About as far as a prepper don't be lazy One of the problems with being prepared Is that a lot of times we put off Different projects because we think ah We got time to do that I'll give you a Little example the other day I had taken Our gas that we had put back and I had Recycled it by just putting it in the Vehicles because I didn't want it to sit Too long Planning to run up to the gas station to
Get some more gas to replace it and I Forgot we had a big power outage here The power was out for about five hours Which it was in this whole general area It wasn't just around our house so I Grabbed some gas cans to make sure we Have gas for a generator I get to a gas Station down the road the power's out There And then it just hit me I thought if There was no power what would I do I Need to keep my gas cans full I drove About three miles outside of the area And there was a station that was running And I was able to fill up my cans but Don't wait until it's too late just like This banking crisis that we're in right Now Have things set ahead of time so when Stuff like this happens it doesn't Completely wipe you out you don't go Into a state of panic you've got food You've got water you've got some cash on Hand you have precious metals if it gets Into that again you can barter and trade And get your debt paid off another big Danger with all this stuff Is the digital currency that they're Planning anyway and things like this Kind of reinforce their resolve to bring This digital currency to US now I have a Video about this and I'll have it Annotated right above but digital Currency is very dangerous it's going to
Completely eradicate our privacy one of The things you know we have Electronic Banking now and we can go to this bank And we use our cards and we get online But there are petitions that block all Things I can take one card if it doesn't Work I go to another bank I've got Another card I can use it I can use PayPal I can use different sources But under a digital currency system it's All going to be centralized we don't Want that believe me because then again Your Freedom's gone your privacy is gone And then if they don't like what you're Saying they can click it off just like That I know this has been quick it's Been down and dirty but guys you just Give you some ideas to kind of put Yourself at ease and get yourself in Better shape Be strong be of good courage God Bless America long live the republic By this action by this by this and of Course they will be The FDIC is going to come in now they've Made an announcement they're going to Pay off the or pay the people that are Pla that are