May 29, 2006

Thought of the day


If the banks closed, ATMs and credit/debit cards didn't work, and you had no access to cash, how long could you go? What would you do?

hmmmm....

12 comments:

Anonymous said...

I don't think we will ever see bank runs again.

Consider that over 80% of the working force receives their paycheck as a result of some goverment, insurance, or wall street connnected corporate spending.

Now consider that the USD is really nothing more than company script for the "establishment".

FIAT currency is the tool the establishment uses to enslave folks or to be somewhat politically correct; create "human resources".

THE GOV'T WILL NEVER SHUT DOWN THE FIAT currency system.

Now an act of war committed by a foreign govt power to knock out all electronic equipment (like a large nuke set off in near earth orbit over a country)... that's another matter entirely.

But not to worry. It will be a pain just like clean up after 911; but all major financial info, such as mortgage info, brokerage accts, checking and savings accts... are tripple backed up or more in very secure secrete underground bunkers.

Anonymous said...

9mm and canned tuna will be the currency in an EMP attack

SidneyPrice said...

I agree that we wont see the run on banks like the 1930's in quite the same way. I anticipate that consumers will rush the banks more than once in the next 5 years, but that the Fed will balk at letting the big banks go under after the first casualty, (Any bets? Morgan Stanley or Wachovia?) Faced with the prospect of Chase, BankAmerica, Citi etc going under, the helicopters will fly. We dont know yet how much of the financial risk the big banks have been able to offload to MBS bagholders, so the probability that a bank run will lead to helicopters is unknown.

Anonymous said...

Hahahahahahahah. What are you talking about? Nobody has any savings!!! Joe Six is up to his eyeballs in debt.

If he has money in savings, it's because he cash-out refi'd last week, and hasn't made it to the car dealer yet to buy that black Escalade.

Run on the banks? Gimme a break.

Anonymous said...

These last couple topics say it all
...send laywers, guns, and money...

Anonymous said...

FNM will go under. That will be the BIG one.

Anonymous said...

I got to pondering this cashless society we have last year and determined to have at least $500 in cash at home at all times. I even started mentioning this to my friends as something they might want to consider. I think they thought I was being an alarmist, to put it kindly. On second thought I'm sure $500 isn't nearly enough.

Anonymous said...

i keep ~$1500 in checking for cash-flow comfort. excess of $3-8k/month is swept into gold or silver or uranium miner or something

always have ~$300 in my pocket

~$10k in precious metals in my house (well-hidden). in a crisis that should likely be a year's expenses.

savings account is now an off-shore vault with allocated gold. available for translation to any fiat anywhere and anytime. One day's notice.

lately i've been thinking about closing all stock accounts but can't seem to part with my FNM puts and various mining (gold, uranium, silver) and energy companies.

Anonymous said...

Don't worry, FEMA will hand out debit cards. Now be a good citizen and quietly stand in line for your daily rations...

Anonymous said...

no better off then if the banks stayed open. Living pay check to pay check, nothing in savings, a years salary in retirement. That's my life right now. sad, isn't it?

$inthebank said...

I've got enough food to feed my family for 4 months, have some cash on hand as well as some gold.
I'm also in the process of transfering my money into FDIC insured accounts (however, I'm not so sure this will do a lot of good if things really melt down in a big way).

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