This cartoon does bring forth a plan that would screw the banks and save many people from becoming homeless.
I should caution you that I am not a financial adviser and am not giving you financial advice.
I would not advocate what these cartoon characters are doing for most of you. They are describing people who have credit cards and are facing bankruptcy anyway. What they do not say is that it is a felony to hide your assets when you file for bankruptcy. And the new bankruptcy laws might not be compatible with what these cartoon people are doing. But millions of people will be declaring bankruptcy. And id you buy junk silver or Silver Eagles you can always declare them at their face value as cash and coin without misleading the court.
A more rational approach would be to keep your eye on the COMEX supply of physical silver bullion. A man I trust says that paper silver shorts have increased while gold paper shorts have slightly decreased at the COMEX. Meanwhile the amount of physical silver bullion declined 39% in just two weeks.
The COMEX is selling 8 billion ounces of paper silver a week which is how they are keeping prices low. But when there is no bullion left the COMEX will crash and Hedge FUNDS and Sovereign Wealth Funds will go for the bullion.
I will keep my eye on the COMEX silver supply and buy a lot of silver on the day I see silver just about to go to zero in the COMEX vaults.
A word of caution to the novice. Go for bullion. Do not go for coins that are valuable in someone’s opinion. That is why I stick to junk silver. These are American coins that are 90% silver and were minted prior to 1965. $100 face value in junk silver coins works out to 71.5 ounces of silver bullion.
Most of my readers are from overseas so you will have to look for silver coins from your region that everyone can recognize. This will make barter easier after the dollar crashes.
If you believe the dollar will increase in value, you are beyond my ability to help you.
I am already in silver. I got rid of my gold and bought silver. I might buy more silver on credit if at a future time I see the conditions are right. I see no reason to decide today on a decision that does not need to be made for a few months. I have zero balances on my credit cards for now.
You might do what I do and follow these two websites though they are both somewhat technical.
http://harveyorgan.blogspot.com/
