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Old 06-26-2008, 12:46 PM
 
Location: New Albany, Indiana (Greater Louisville)
9,587 posts, read 20,471,944 times
Reputation: 9078

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With the National US economy rapidly heading towards a depression, it would be a good idea to move money into our local banks.

Since Kentucky's economy is much more stable than the national economy, a bank that is locally owned and operated will handle severe economic downturns much better than a national bank. It also keeps your dollars for local loans, rather than projects in other places.

Gold and silver is also an excellent way to protect your money.

http://www.gold-prices.biz/wp-content/img/2007/09/gold-vs-usd-09sep07.JPG (broken link)
The Coming Depression
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Old 06-26-2008, 12:59 PM
 
Location: Somewhere in Kentucky
3,790 posts, read 7,566,181 times
Reputation: 2413
The sky is falling...the sky is falling!!!

Sure the economy is in the tank, but it can all be traced to one thing. And if that one thing was sold at a resonable price, the economy might not be as bad.
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Old 06-26-2008, 01:42 PM
 
Location: Kentucky
6,749 posts, read 19,561,625 times
Reputation: 2116
I agree with Census. Besides, I would like to keep most my money local if I could
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Old 06-26-2008, 02:19 PM
 
Location: New Albany, Indiana (Greater Louisville)
9,587 posts, read 20,471,944 times
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I used to bank at 5/3, but they have lots of banks in Ohio where the economy and housing collapse are terrible - how could that not affect the bank's stability?

Central Bank only has locations in Lexington, Louisville, and Northern KY were the economy is much better than the national average, especially the housing situation.
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Old 06-26-2008, 02:55 PM
 
Location: Somewhere in Kentucky
3,790 posts, read 7,566,181 times
Reputation: 2413
I guess I take for granted Murray having a locally owned bank for years and years. I would never put my money with a Wachovia (sp?) or Bank of America.

By the way, oil will never fall below 125.00/bbl again. People in this country need to make big changes if they want to survive. I told some co-workers today that our family has just purchased our last vehicle that is fully gasoline powered. I am sick of the Middle East having me by the go-nads.
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Old 06-26-2008, 04:15 PM
 
Location: New Albany, Indiana (Greater Louisville)
9,587 posts, read 20,471,944 times
Reputation: 9078
Ever since the Dollar went off the Gold Standard it's been all downhill.

An once of Gold buys the same amount of gas today as it did in 1980.

Gas prices in Dollars
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Old 06-26-2008, 04:16 PM
 
Location: In the Pearl of the Purchase, Ky
6,968 posts, read 12,385,235 times
Reputation: 29157
Some bankers in Union County a few years ago got tired of all the banks being owned by somebody far off. They started their own bank, United Community. They have one in Morganfield, one in Sturgis, and one in Clay. And they are doing a good business. I"m not putting in a plug for the bank but just liked the idea of actually having a locally owned bank.
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Old 06-26-2008, 05:32 PM
 
Location: Kentucky
6,749 posts, read 19,561,625 times
Reputation: 2116
How about River City Bank? or L&N credit union?
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