Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't know if this is political or not, but I'm not willing to risk getting paid back in depreciated dollars from the government printing press (FDIC is insolvent. Our nation is insolvent). I'd suggest getting your money out now while it still has value. Only a sucker would put faith in the system that is clearly bankrupt and broken. Just don't be the idiot that gets caught with his pants down. People are already lining up at banks all over the country.
It doesn't matter if it's in the bank or under your mattress, it will continue to lose value unless it's placed in fixed value like gold. On Friday Gold was $884, today it's $911.
It doesn't matter if it's in the bank or under your mattress, it will continue to lose value unless it's placed in fixed value like gold. On Friday Gold was $884, today it's $911.
we're gunna see a brief deflationary period where real assets will be sold off at fire sale prices due to lack of liquidity in the system and massive withdraws from the system. From there, the government will get the printing presses running, signifying the begginging of hyper inflation. Get ready!!!
I don't know if this is political or not, but I'm not willing to risk getting paid back in depreciated dollars from the government printing press (FDIC is insolvent. Our nation is insolvent).
Good idea! Trade those flimsy greenbacks in for sea shells. Sea shells are about to get hhhhhhhot!
Quote:
Originally Posted by Cleanmaxx Brian
I am keeping just under 100K in a solid(?) bank now and I am not liking the idea of having that amount of cash not is some place safe!
By "100K" are you referring to "100,000 half pennies?"
By "100K" are you referring to "100,000 half pennies?"
Well if it was in dow it may have looked somewhat like that!
I think a lot of people are going to draw money from the banks and that may make things much worse. Yet I can't blame them! My problem is what do you do with that kind of cash at your home...which could get robbed, catch fire etc!!!
I know I am protected under FDIC but if all the banks fail, that insurance will run out!
If people panic, that will lead to major problems. Your money is guarenteed up to $100K, so I wouldn't make a run on the banks. Again, that will cause more problems than we already have. Then, this would be a repeat of 1929. Don't panic people.
people are lining up at the Wells Fargo across the street. stock market down nearly 800 points. S is HTF right now. It's crazy.
Really!?!?! Well people are going in full panic mode. I just posted how Glen Back is wigging out on CNN!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
