Topic: Banks at risk due to wars and debt problems. How do I manage this portfolio? (Read 63 times)

Every single company and asset is vulnerable due to wars - except for maybe military machinery manufacturers. Yet when we talk about war it starts to resemble a total war, like world war 3, where nobody will be safe and most of us will end up drafted to fight regardless. At that point your assets are often meaningless and may very well be seized towards the war effort. Any other war, like a localized one that your country may be involved in, is often far away and history has shown they can sometimes produce barely a hiccup in the economy. Debt management by companies is forever changing and part of regular analysis you should be doing on every company you own shares in - I try to avoid investing in companies with more than 40% debt to equity, with exceptions like utilities that structure debt differently.

I agree with kotajikikox, although you're claiming that your funds are secured, I'd personally be a little more cautious sharing my financial situation on a public forum. I'm not sure what I'd do in your position, even though I'm considering that you're exaggerating a little. You already own a decent sum of money in cryptocurrencies, why can't you invest more? There are also decentralised exchanges and also P2P transactions that won't immediately alert the IRS as you claim. You could diversify your portfolio, by investing in various coins to minimise the risk.

I'm not sure where you're from, but I'm judging that you're from the EU, perhaps you could also distribute your money into various banks and services such as Revolut, Wise, N26 and many others,  some of which are legitimate banks.

Can I ask you a few questions? You write that you store your funds in cryptocurrencies such as Bitcoin, Ripple and Hedera (Hbar). Why did you choose these three cryptocurrencies?

My question is related to the fact that lately I have been listening to video podcasts by Daniil Sachkov (developer of the Bastion video service). He also talks a lot about financial reboot and recommends buying these three cryptocurrencies. He considers Ripple as the new Swift, Hedera as a platform for asset tokenization.

And what considerations (information) led you to choose these three assets as investments?

And one more question... Which wallet would you recommend for storing Hbar? How do you assess the risks of funds being blocked in this wallet (after all, Hedera is a very centralized system)? I am also interested in the Hbar cryptocurrency, but I have no idea whether it is possible to store it without the risk of funds being frozen. Does this token support a cryptocurrency wallet such as Meta Mask or other decentralized platforms?

P.S.

It is difficult for me to answer your questions.  In authoritarian countries, citizens do not trust the state from the start and try to stay away from it. That is why there is a shadow economy and a developed shadow market. In Europe, as far as I understand, this is not the case.

you live in a troublesome country i think. everything you do is monitored and there are a lot of unreasonable rules that i think are burdensome for people. however, I feel that you should not worry too much about your wealth and focus more on how to manage it properly. my suggestion is that you invest in several assets and keep some in cash, that way at least you can expect that your assets are spread out and not concentrated in just one, reducing the potential for loss. however, if you still feel that it is not right, I can't give you any more advice because in my country it is much simpler to manage wealth compared to your country.

Keeping too much cash at home is risky, and also against the law in most places, putting too much money into crypto may raise taxes or bank flags. You could try diversifying into low return but very safe investments like government bonds or certificates of deposit. I also think that it is a good idea to spread your funds across multiple banks, just stay within insured limits.I believe the key is finding the balance between accessibility and safety in order to protect your savings.

It's going to be hard to give you any solution here mate. It's quite obvious that you live in a country where the monetary system is closely monitored by the government. If that wasn't the case, the only solution I would have given you right now is to invest in cryptocurrency and not just crypto but Bitcoin to be precise. Bitcoin has been able to give a lot of us that freedom which you solely seek. You can save an endless amount of funds there without anyone knowing who you are except (aside from people who buy Bitcoin using centralized platforms). Bitcoin gives you such freedom this when you need to use funds it's easier to convert any amount to fait and spend.

And you said something about banks rejecting clients who makes crypto withdrawal. In my country, that's similar the government made a lot of laws against any crypto related transactions for long now. But we still are able to carry out our normal transaction without any stress from banks. There are ways these people operates and you can easily avoid then when you carry out your transaction seemlessly online.. there's no physical contact with anyone.

Thanks for the concern. But my assets are held in cold storage and the seed phrase never touches the internet. It does not even touch my laptop in case I get hacked. Which I also have protection for. The only way for people to obtain my seed phrase is to use direct violence against me. And even that would not work.


1) Diversification. I'm pretty sure that the future is bright for crypto in general. Especially for bitcoin. But the banks hate it and I do not exclude the possibility that my country will launch an outright attack on all bitcoin holders. There are banks in my country who unbank clients when they want to make a substantial crypto withdrawal.

2) Timing. I don't think now is the best buying opportunity for bitcoin

I like precious metals but it's a shame that there is a 21% tax just for holding them privately. I hope there is a way around it. Like buying it on the black market

I don't know how you complicate your life so much, man. You are better off financially than 95% of Europeans and you worry about bullshit.

I don't know what you want us to tell you in a bitcoin forum. The most logical thing is to buy more bitcoin for us but seeing that you have most of deposits I understand that for you bitcoin has “risk”, which is rather volatility, and deposits do not, when if you get 3% and you count the real debasement of the currency you are losing at least 7% per year.

 even with all the details you have given, it is still difficult to point out how tough the regulatory structure on crypto is in your country if not, the direct solution to a complex system as this would be to convert your fiat straight up to bitcoin while you watch how things unfold with time.

since from what you have said, you invested in crypto last year, it suggests you can still do same at this time and if that is possible, then you have the answer to your question already. even without a major problem in the banking sector, it is never advisable to save up too large an amount of money in the bank because of so many obvious issues that is associated with it. also, since it looks like your parents left some fortune behind at your care, it is best you don't rush to invest it into something you are not sure of so it won't end in regret. like @kotajikikox has rightly said, some of the details you have given out is pretty unnecessary and can attract some bad figures to you. you just have to be cautious not to get lured into investing in a thing that is mere shadows.
 

I know we are under all anonymous accounts here but I still want to point out the confidence you have to fully post everything you own here on the internet. Even as anonymous accounts, we still should be careful because you do not know how much ways there are someone can find you and your assets for them to take.
You have already invested in crypto the answer is quite literally right in your face already. Why don't you want to just invest the other money you want to take out of your banks to invest in cryrpto? What are your reservations when you have already invested in it right now?

Financial situation:

I’m in my late 30s. Debt free. Living for free in one of my parents 3 properties. 2 years from now I will inherit 50% of a house. The other 50% is for my sister and I am saving money to pay her part, so the house is fully mine.

70k euros in the bank, saved as deposits.
20k invested in crypto last year, now worth 45k euros. This is 0.25 bitcoin, 3500 XRP bought at 50 cents (currently 4x) 30 000 HBAR bought at 6 cents (currently 5x), about 4000 euros in smaller positions and a bit of money on an exchange that is not invested yet.

Last week European banks have recommended citizens to save an undefined amount of cash at home because of geopolitical risks. When banks say this, it is extremely serious. I am a strong believer in The Great Reset and I know for a fact that the monetary system is very close to a complete collapse due to the debt spiral. They are just looking for a scapegoat and 99% of people will believe it. CBDCs and monetary slavery are very close.

I do not want to have more than 30k in the bank, and even this is too much.

But how can I safely invest 40k? I thought about precious metals but only if I can keep them at home. So not saved in a deposit box in Switzerland. Because when banks fail, that will also be taken. The problem is that the government demands a 21% tax if you do not store it in their vault. So 21% is immediately wasted and can not be recovered when you sell. They want to make self custody unattractive, and make you store it in their vault so they can steal it from you in the inevitable crash that they have caused by escalating the debt.

I can withdraw 40k in cash and store it at home. But when I have to put that back in the bank, there is a chance that they will not accept it. It is not legal to store more than 2000 dollars at home in my country.

I can buy more crypto but this would immediately alert the IRS. And most banks here refuse accept crypto profits back as deposits. I would be at risk of getting unbanked. The IRS would instantly inspect my transaction history and tax the shit out of me. I always wanted to keep my crypto away from the bank. Pay for services directly in crypto and leave the IRS and the banks out of it. But that will become difficult when I need the money to pay off the house.

What is the best investment/diversification strategy? One of the things I consider is opening more bank accounts than the 2 banks I’m currently with.
But I need to get 40k out of the banks asap.

During this inevitable Great Reset I wish to remain debt free.