Money troubles with bank

[lil'skeet]

Anybody started pulling all of their money out of their bank accounts yet?

 

[RHINOWSO]

Yes, when $hit goes sideways your printed paper will be worth a lot...

 

[lil'skeet]

Definitely be more useful in my hands than in the banks claws. Even if it was just a burn it to start a fire.

 

[ccc]

Yea that news report is damn sure troubling ! We are in very trying times right now. The Great Depression folks woke up one day and life savings were gone, overnight. Under this administration the same thing occurring is a clear and present danger. Gold, and guns and ammo, are your best investments right now.

 

[lil'skeet]

The Banking Collapse Has Begun

Federal Reserve rate hikes are killing regional banks and the housing market https://gregreese.substack.com

madmaxworld.tv

 

[Raven]

I pulled my money out and closed down my 401k when the international bond market tanked back in the end of 2018 thru 2019. The writing was on the wall then. Even back then financial experts were saying that it would take over 20 years for the US dollar and our financial markets to recover. I'm retiring within 20 years... so yeah it did not make any sense to keep contributing to a 401k that's going to fail, nevermind a 0.05% savings account. And sure enough the US markets did fail... Americans lost over half of what their 401K had back in 2020, they never did recover, and they have lost even more since then. Nevermind that we're in a double-digit inflation rate now, and that your half of one percent that your savings account or CD is earning will never catch up to the two percent inflation rate built into the economy, year after year, and that was before that double digit inflation rate hit last year. The only answer is to go make even more money to compensate, and then keep your money with you in hard assets that aren't money... like land and investment grade antiques and such. Some of which is antique gold and silver, yes, numismatic value coinage. And put the land to use growing a garden or rent it out to a hay farmer or tree farmer or something. Build a strip mall or subdivision. Something. Don't just put it in a bank. The "bail-in" is coming. Y'all educate yourselves on what a "bail-in" is, if you don't already know. There's nobody left who will bail out America's debt bubble... and when it pops God help us

 

[tros6t]

They have been working on this for a while! 70% of transactions are now done electronically (digital) and people,’especially younger ones are used to it! Many do not carry cash! I’ve seen them buy a bottle of water with a card!
This issue is, while most transactions are digital, there is still a cash option, for now! Their goal is a central bank digital currency. That way they can have complete control!
And go ahead and tell me like my friend in Germany told me many years ago! “There’s no way the Germans will give up the mark or the French, the franc! Well, go there and try to buy something with those currencies!
It’s gonna happen!

 

[Raven]

They have been working on this for a while! 70% of transactions are now done electronically (digital) and people,’especially younger ones are used to it! Many do not carry cash! I’ve seen them buy a bottle of water with a card!
This issue is, while most transactions are digital, there is still a cash option, for now! Their goal is a central bank digital currency. That way they can have complete control!
And go ahead and tell me like my friend in Germany told me many years ago! “There’s no way the Germans will give up the mark or the French, the franc! Well, go there and try to buy something with those currencies!
It’s gonna happen!

I could make a strong argument that the 30% that are using cash have side hustles and are washing money... and that they are also the undercover middle class... and/or they are the millions of illegal aliens trying hard not to get caught. The card is so easy nowadays that you must have a strong incentive not to use it

 

[Carl]

It’s never been a better time to stash at least 10-20k,food, boomer rocks etc.. Though it’s always been a good time to do that if you think about it.

ETA How feasible is it for people who have 50k in their bank to withdraw it all? 100k? 1M?

 

[Anangrypasta]

It’s never been a better time to stash at least 10-20k,food, boomer rocks etc.. Though it’s always been a good time to do that if you think about it.

ETA How feasible is it for people who have 50k in their bank to withdraw it all? 100k? 1M?

For our bank you have to give that request in writing. May take a few days for them to get the cash together and pass it along.

 

[lil'skeet]

I pulled my money out and closed down my 401k when the international bond market tanked back in the end of 2018 thru 2019. The writing was on the wall then. Even back then financial experts were saying that it would take over 20 years for the US dollar and our financial markets to recover. I'm retiring within 20 years... so yeah it did not make any sense to keep contributing to a 401k that's going to fail, nevermind a 0.05% savings account. And sure enough the US markets did fail... Americans lost over half of what their 401K had back in 2020, they never did recover, and they have lost even more since then. Nevermind that we're in a double-digit inflation rate now, and that your half of one percent that your savings account or CD is earning will never catch up to the two percent inflation rate built into the economy, year after year, and that was before that double digit inflation rate hit last year. The only answer is to go make even more money to compensate, and then keep your money with you in hard assets that aren't money... like land and investment grade antiques and such. Some of which is antique gold and silver, yes, numismatic value coinage. And put the land to use growing a garden or rent it out to a hay farmer or tree farmer or something. Build a strip mall or subdivision. Something. Don't just put it in a bank. The "bail-in" is coming. Y'all educate yourselves on what a "bail-in" is, if you don't already know. There's nobody left who will bail out America's debt bubble... and when it pops God help us

View attachment 214653

My paper $ has become targets and shotgun wads.
Gold has been melted down and cast into projectiles.
Ukraine will bail us out after they finish their fight for democracy.
Land has a couple solar panels on it to charge my head lamp, AA & AAA batteries.
Bail in began a couple months ago.
I can tell you for a fact as a home builder & licensed contractor the housing market trouble has begun.
The FDIC has less than 2% of the $ the bank holds for us. You will be offered some sort of digital currency in return that will quickly turn into social credits.
After all this nonsense, FJB will begin "build back better" and restore America's greatness and power.

 

[fl57caveman]

Money and Inflation in Argentina Case - Economics - Reed College

www.reed.edu

 

[RHINOWSO]

I'm just saying that a bunch of money in the bank isn't always a good thing.

Turn a portion of it into usable capital goods, land, supplies, etc.

Think extra weapons, generators, vehicles, fuel, food, ammunition, consumables, etc.

Part of the reason I streamlined most of my main rifles to AR15s and pistols to Glock 19 / Glock 9MM. Easy to maintain, lay back spares, always in demand, etc.

And right now it's a buyers market so turn that paper money into tangible goods.

 

[skippyt]

They have been working on this for a while! 70% of transactions are now done electronically (digital) and people,’especially younger ones are used to it! Many do not carry cash! I’ve seen them buy a bottle of water with a card!
This issue is, while most transactions are digital, there is still a cash option, for now! Their goal is a central bank digital currency. That way they can have complete control!
And go ahead and tell me like my friend in Germany told me many years ago! “There’s no way the Germans will give up the mark or the French, the franc! Well, go there and try to buy something with those currencies!
It’s gonna happen!

You're a couple of decades late, the French and Germans, along with most EU countries gave up their singular currencies long ago in place of the Euro

 

[Ozymandias]

Thats what he said, homie.

You're a couple of decades late, the French and Germans, along with most EU countries gave up their singular currencies long ago in place of the Euro

Out of curiousity, when a market fails, who is buying precious metals?

 

[ctc1066]

For those of you talking about withdrawing lots of cash, be extra vigilant and take a trusted and well armed friend with you. Thugs and thieves are posting up outside of banks with scopes looking inside to spot individuals making big withdrawals and following them home or ambushing along the way. This will become more prevelent as the days go by.

 

[ccc]

This

 

[DustyDog]

For our bank you have to give that request in writing. May take a few days for them to get the cash together and pass it along.

Probably because they have to borrow it : )

 

[Rebel_Rider1969]

Probably because they have to borrow it : )

Print it. ...

 

[Rational Mind]

Don't worry . I'm sure the privately owned federal reserve has a solution.