Banking Collapse - How It Could All Come Down | Phil Low

Good stuff gents thxu 👍

nice update

Phil should write novels, vivid imagination.

Credit Unions in Ireland store your money at the bank, and there's a €30K limit on each account..... nonsense compared to the States ....Galway Bay ☘️ 🇮🇪

Wow! I learned a lot from this interview. Thank you. 💫🪙💰⭐️

I hope Phil's estimates are correct. I never feel I have enough to cover myself as well as those I love and care about, so I'm leaning toward Rafi's higher estimate.

Great guest 👍👍👍

Two hundred seems to be ridiculously low, imo. I'm guessing more like 1000 ounces.

None!

Great interview! Love the channel❤

This guy wanders into left field way too long.

The problem I see is the "money' itself may have NO value. The currency has to be replaced with something of value and that is not the illusion of CBDC which starts with zero value..

The trickiest part of the financial system is to treat debt as asset.

If the you know what hits the fan, 1oz gold collectors coin will not be worth any more than a 1oz gold bullion coin. Ask my my grand mother who lived through both Ww1 and ww2, and said people went to the bank with cash savings and converted them into Gold sovereigns, which they could under the gold standard. Inflation during WW1 was 100% and WW2 30%. Those are government figures, so it is likely to be lower than reality. People wanted gold for transactions. History to repeat itself??

Silver would be great to own if it wasn't for the nutbags shilling it.

a lot

I think the question of collectible coins came down to could the government confiscate those coins versus just a bullion coin. The idea is that it is not just gold it is also art so that protects that piece of gold from confiscation laws

No taxes in 1910. Made all the difference.

Practical Phil keeping it real. It truly is a game. Appreciated. Much love.
“When you see a good move, look for a better one” ― Emanuel Lasker

I like listening to Phil..but I don't think 100OZ of silver is going to buy a mansion with fountains anytime soon...
If a time comes when wealth should be traded away, I'll be looking for timberlands, farms and mines...not mansions with fountains.

Great interview. Phil is so down to earth it is refreshing. Now consider going in-depth with the practical implications of a world wide financial collapse. You will need a sociological expert and someone who has studied local collapses in history. How are people likely to react? What is the likely government reaction? Sure, people who have prepared might do better however they will still have to navigate pit-falls. Get us into the necessary mind set to get us through what could be a very long and difficult time.

Lots of words to say collectivism is antithetical to privacy and private property, and the intention of onboarding into "one big purse" even if it is the government's purse, and sanctioned by violence inevitably leads to tyranny and despotism. This is why I prefer calling silver and gold "Honest money" instead of "Sound Money" because honest money delivers value up front and sound money is only a claim on delivery of the value.

I figger nice, recognizable coins saved for those people a little "skittish" about accepting real money at first, which is amazing but I think "true" (we've all been well-trained and conditioned for this mission :-)

I would love to see Phil talk about what happens to Any outstanding debts when a financial collapse occurs.

It's probably a good thing most people don't know or care about this topic otherwise there would be a run big time!

Im pretty sure people are still paying premium for beanie babies.

Our entire economy is now credit-based so, therefore, we are all slaves to credit whether we like it or not.

CORRECTION it was 6.2 million, NOT 60 million!

He is correct about the 5-10 years to buy a house.
My granddad used to talk about that back when he lived.
It was the same here in Denmark some 100 years ago.

Unbelievable amount of ads.

If ye can't get to Rumble from your country you NEED a VPN.
Ye need one for many other reasons too, but this is a very clear sign that ye need it and need it yesterday

30 years of payments and own your house free and clear? Tell that to your State, county, city and or towship if you fail to have todays insane property tax assesment for payment!

It's impossible to have to much, assuming you have suitable secure storage available. I mean real rather than paper silver.

The only problem I have with Phil is that he seems far too optimistic about the future on a whole host of issues. It's 100 to 150 ounces of Silver per month and/or 1 to 2 ounces of fractional Gold per month. I would argue that it's best to have that much of both metals for each month that you want to fund the life of your family during a period of crisis. So 1 year would mean 1,200 to 1,800 ounces of Silver and 12 to 24 ounces of Gold held in 22k fractional coin form. Do the math if you want longer than 1 year.

50 ounces of silver per person is definitely not enough. You got taxes and insurance and credit cards and student loans and housing repair costs etc etc. no way 50 ounces of silver per pwrson is enough.

The mortgage scheme is only made worse by government, which won't allow simple homes anymore. The biggest share of the cost increase is government regulations.

you have been using the word could or should for 40 years

All banking is fractional reserve banking. If there’s 100% reserve, it’s not banking. It’s just storage. If I deposit a Dollar, I’m entitled to a Dollar. It’s the bank’s liability. If they then lend that Dollar to someone else, the bank is entitled to the Dollar. It’s the bank’s asset. It can’t be both on deposit in full and loaned out at the same time. The problem is not fractional reserve banking per se. The problem is the degree to which it exists. The free market - where banks would have to compete for reserves - would naturally temper excessive leaning. But we don’t have a free market. Banks are given reserves by The Fed without having to earn them.

Oh Yes Phil!

Yet here I am 15 years later with silver still under $34.00 ounce! Silver is the most under valued form of wealth in the world and apparently FOR GOOD REASON. It’s just not something people want to hold for many many many many many YEARS?

Dunagun, this guy is a jerk. I had the same reaction as the commenter he referenced. He doesn't know or appreciate the concept of a Building and Loan or a Savings and Loan. Hollywood did get it right (that time anyway) and Phil Low got it wrong. His rebuttal was pathetic.

It is a shame. I've enjoyed watching his appearances in the past. I would like him better if he would have just acknowledged his error.

Seventy-five years ago I had a "savings" account with a Savings and Loan. I knew I couldn't just show up and ask for my money. Even back then the institution had a 90 day grace period.

Bill Roberts

Phil is definitely excellent & awesome! He really do simplify things so everyone understands. I really enjoyed listening to him. Great interview Donagun! 👍🏾👍🏾👍🏾

The trucks were attacked during the Venezuelan hyperinflation. That’s only less than 15 years ago and it was like a madmax scenario. I believe it only took a few ozs of silver to support a family of 4 with food for 6 months

Time to "pay the piper!"

Great intervied, BUT what I'm missing in his fantastic analysis of Silver demand is the HUGE (and increasing!) industrial demand today, which would drive up prices even much more!

Zzzzzzzzzzzzz. The PM market is rigged and manipulated.

It's A Wonderful Life is a bit of a psy-op movie. The wealthy Potter is mean, so being financially successful looks greedy; while George is nice but always poor. Even friend Sam Wainwright, who has money, is depicted as ambitious and cavalier. The moral of this movie is... Be happy being poor, it means you're nice!

Personally, what numismatics I collect (as opposed to my stack) are primarily professionally (NGC/PCGS) graded Franklin halves MS65+. Not 1oz silver anything called a numismatic.

Ummm…constitutional silver? No “chopping”

Thank you for watching! I hope you find this comment section to be a fantastic way to share thoughts and ideas! Always REPORT AS SPAM any comments sharing a phone number, email, any contact info, or trading advice. Be aware of IMPERSONATORS offering phone numbers, and please know we will NEVER put contact info in the comments section or offer market trading advice.