I have over $1m in cash, split among 5 major banks in Australia.
I'm essentially waiting until the economy collapses, then i'm going to throw it all into stocks and property.
However, I'm a little concerned about what happens when the economy collapses. I fear that my money will be inaccessible, and be eaten by the banks in a bail in.
I am currently also holding a diversified stock portfolio, precious metals and some cryptos.
Would appreciate any advice on what I should do with my cash, if anything, to ensure that i'm able to use it to profit during the crash.
>>1263287
Cash in a vault would be the best bet, of course. Other than the danger someone could steal it obviously.
May I ask how you plan to predict which stocks and properties will reboot?
>>1263287
Look at what happened in greece. You wont be able to get your money during a bail in. If aus is anything like the us with the FDIC, banking deposit insurance will only cover the tiniest local banks default. No one can insure for a bank run on a national scale, which is what is what would happen in a serious crash
>>1263621
Yeah, Australia has similar;
http://www.guaranteescheme.gov.au/
I was reading about it recently, and if i recall, the government will only give $20b to each bank to cover deposits, which does not sound like it would cover much...
What would you recommend doing with the cash?
>>1263366
Hmmmm..... I feel pretty uneasy about this, but perhaps i should keep a few hundred thousand in cash....
>>1263374
I'll likely let me financial advisers do this, but there's some sure-fire bets, like Google.
>>1263287
If the economy collapses to the point where the banks aren't honoring withdraws your paper money is going to be worthless no matter what coffee can you have it hidden in.
Invest in bullets and gasoline.
>>1264524
Fortunately i don't live in 'murica.
Bullets are not needed.
>>126452
>Fortunately
>Unfortunately
Ftfy
