I am not a criminal nor do I want to do anything shady like "disappear", jump bail, or evade tax. I am an entrepreneur and a good citizen with a clean record who was a long-term customer of Chase, Wells Fargo, and Bank of America.
Having said that, I don't trust banks. The government can "nationalize" bank deposits any time to pay off national debt. Banks can also do a "bail-in", take all our deposits, and pay us $0.50 on the dollar or less (like in Cyprus).
Also, neither credit cards nor ATMs will work after a major disaster like an EMP, a cyber attack that shuts down the US power grid, or a total financial collapse.
I have about $120,000 in my accounts. I was thinking of keeping $20,000 in there and withdrawing $100,000. I would buy $25,000 worth of gold, $25,000 worth of silver, $25,000 worth of Bitcoin, and keep $25,000 as physical cash.
This would be in addition to water filters, storable food, storable water, toilet paper, guns, ammo, a shortwave radio, iPhone, solar chargers, and other electronics in an EMP-proof box, and other survival supplies.
As for Bitcoin - yes, computers and flash drives will be destroyed in an EMP, or would otherwise be unusable during a major disaster. But Bitcoin will survive, and will go up elsewhere in the world, after a major US disaster. So I will keep an offline Bitcoin storage wallet (yes you can do that). I like to call Bitcoins stored on paper wallets "Satoshi Papers".
I would put all my cash, all my gold, all my silver, all my Satoshi Papers, all my passports (yes I have a foreign passport), and all of my guns in a very sturdy, NON-ELECTRONIC safe.
In the event of a major disaster like an EMP, I will have accessed some communications and will know whether to take all my valuables, get on a bicycle, and flee the country with my foreign passport... or to stay home with my survival gear and be prepared to defend it.
Would this be a good idea?
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