Most probably I won't be storing my money in the banks, not during this expected collapse.
The problem I see here is that while so many people expect a collapse/recession to happen very soon, it might not happen for at least another 5 or so years. Perhaps even longer.
I find the US stock market to be an exceptional collapse/recession indicator, because it shows what smart money thinks about the market and economy. Some of the biggest names in the tech industry such as Microsoft and Apple have reached new all time highs today, and some others are just a few percent away from doing so.
I will start to worry when we see the US stock market breaks below its bull trend that it has respected for so many years. Every dip is currently bought up because that's seen as a fantastic entry point, and thus far dip buyers did well.
We do need cash, at least that's one thing that banks are still useful for. Hopefully it don't get so bad that banks restrict the amount of money that can be withdrawn like what happened when Greece went bankrupt.
That's why people should hold some decent amount of cash at home hidden safely, enough to last them a couple of months at least.
I'm just curious, do you stay within the government-insured limit of deposit?
I do, but more so because I don't have enough in any of my bank accounts to exceed their threshold. I however wouldn't really pay too much attention to that because when you make the rules, you can break them too, which we have seen happen in various countries already.