Yes, buy gold and silver! Relying on paper money for savings has always had potential dangers but never more so than now, in that more and more governments have control over banks and subsequently over the deposits and funds.
Within the Bailout approved by the US Government, is some information that any investor should be well aware of. Basically according Emergency Economic Stabilization Act of 2008, banks do not have to have cash on hand. The Federal Reserve no longer has to maintain an Earnings protection account for the supplemental reserve fees they charge banks. In effect this means that they do not have to give back any of those funds to banks. Banks do not have to, therefore have cash on hand. (money.cnn.com/2008/10/01/news/pdf/index.htm).
This also means that banks do not have pay out cash if they have none to spare. And with the banking system as it is today, a run on any bank is devastating as they do NOT hold the cash to pay all their depositors. In addition in any crisis the banks will be keen to keep the funds within the banking system and dispense as least cash as possible. One could easily see a ‘bank holiday’ appear in an effort to restrict the movement of cash from the banking system. One would still be able to transact business through the use of cards and bank to bank account transactions, but drawing cash. Ah ... that would be different.
This means that, these days, it can be very risky maintaining any more than operating expenses in a bank account and one should be looking for other avenues to preserve ones assets.
So hence the phase, buy gold and silver. In fact the more restrictions are put in place the more likely it will be that people will be demanding their cash out of the bank and placing it into good and silver as a time honored natural safe haven in these economically unstable times.
This means the demand for gold and silver is going to continue to rise and this will inevitably mean an increase in the value of gold and silver as the value of the dollar decreases. It is going to take more dollars to buy gold and silver and if one has gold and silver, one will get more dollars when one sells any.
Buying gold and silver in the form of coins, rounds, small and large bars would give one a diversity where one could cash in an amount appropriate to ones needs in times of emergency and that could be a life saver in these troubled times.