Banking Collapse - How It All Comes Down | Phil Low

Phil Low of The Bitter Draught discusses the vulnerabilities of the current financial system, especially during crises. He critiques fractional reserve banking for creating systemic risks that can affect all financial institutions, including credit unions. Low emphasizes the importance of physical silver—rather than numismatic coins—as a reliable form of wealth preservation. He warns that investing in credit without caution can lead to debt slavery and encourages people to understand the historical context of money. Ultimately, he suggests families to prioritize bullion over collectible coins and to prepare with 100 to 200 ounces of silver in anticipation of economic instability.

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INTERVIEW TIMELINE:
0:00 Intro
2:40 Banking system
18:30 Numismatic gold coins
32:50 How much silver do I need?
41:25 Weekly specials
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