US almost collapsed economy 9/18/09

Total Failure

On Thursday (Sept 18), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there.

If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it.

So take note when the SHTF you will receive no warning.

I have a very strong financial background of 24 years in finance and business accounting. However, I am at a loss as to what we can do in this economy to save our wealth. My stocks have fallen so low the losses are now eating into the actual money I invested a decade ago, and not just the paper increases. I don't want to exit the market when it is down, but do want to preserve what little value is left in my stocks. Will I be left holding an empty bag if I fail to act now?

The bonds I have would be worthless if the government fails, as would all the cash I have. I don’t want to empty my bank and store cash which in the same scenario of financial collapse would be worthless anyway. Please don’t offer to go into precious metals, as they would be useless in a collapsed economy, and I would run the risk of robbery.

So what do you recommend to preserve liquid wealth?
A buddy offered I should Invest in bullets and MRE’s.
I ask, how can you preserve wealth in failed economy?

[edit on 12-2-2009 by Absum!]

[edit on 12-2-2009 by Absum!]

Just a heads up. This was posted already.

How worldwide economic collapse was averted