Survivalist Forum banner

1 - 20 of 48 Posts

·
Knocked Down But Up Again
Joined
·
5,579 Posts
Discussion Starter #1
I hate to think this is true, but I may have done my miniscule part in adding to the general hysteria.

Just a few minutes ago I went to the bank and withdrew all but $100.00 or so from my checking account. I may not have much money, but I refuse to let some bank just up and close, preventing me from getting what is legally and rightfully mine. And before anyone tells me that I'm paranoid, you might want to talk to someone whose bank closed recently. See if that allays anyone's fears.

When is all of this "financial rescue" stuff going to level out and perk up our flagging economy? A girl shouldn't have to fear that the money she worked hard for is going to disappear overnight with little to no warning.
 

·
Registered
Joined
·
70 Posts
I don't know about frenzy, but anymore if you have more than 250K then you have to worry but under that it is at least insured. Also this limit only applies to an individual at one bank. The 250K limt also just went into effect on Friday or Saturday with the passage of that huge bill.

I have money in Wachovia, but they "just" got bought out. My family also has money there and were sweating a little, however the isured amount is still safe.
 

·
Knocked Down But Up Again
Joined
·
5,579 Posts
Discussion Starter #4
Nope, don't let the government lie to you. The FDIC doesn't have enough money to bail out even ONE of the bigger banks, let alone all of them. I don't trust anything that our "corporate representatives" have to say.
 

·
Registered
Joined
·
1,231 Posts
The banks created the situation. All you are doing is holding on to what's yours. Instead of letting the obviosuly incompotent manage it for you.
 

·
Registered
Joined
·
70 Posts
Ohh, I understand about the FDIC insurance, but since when does "having enough money" matter to the US government :(. They just seem to have money to burn.
 

·
not a nut
Joined
·
1,629 Posts
I pulled some out last night.

They would need to get the printing presses going top speed to pay the FDIC insurance on everyone.

If they did that the value of the dollar goes into the toilet and inflation shoots through the roof.

.
 

·
Registered
Joined
·
1,155 Posts
I don't trust the banks either,I'd rather my money was somewhere I could instantly lay my hands on it,not locked up in some financial institution that is increasingly looking more and more dodgy.
 

·
Renegade Vegan
Joined
·
175 Posts
We took the little bit we had in savings out a couple of weeks ago. :thumb:

I agree with Lady Bug, who wants to be the last one to a bank run!
 

·
Registered
Joined
·
358 Posts
The other issue that yes the money up to 250000 may be insured but if something does go south with your bank there is no guarantee when you will get the money. It may be right away or it could be several months from what I read. Either way I would still keep some cash on hand just in case. Better safe than sorry.
 

·
Information is Ammunition
Joined
·
22,122 Posts
what about the smaller banks that have nothing to do with bad lending practices?
 

·
Registered
Joined
·
25 Posts
Buy around $1500 of silver while you still can. Not as an investment, but for survival. It (or gold) will be the only CURRENCY of value soon. The rest will be simply...paper. We're talking total collapse here, folks. But first, use ALL the cash you have now to buy food, non-GMO seeds, supplies, clothing (WARMTH), ammo, etc. If you feel like you have your bases covered to an extent, then buy some silver.
 

·
*** Forgives, I don't
Joined
·
1,369 Posts
I don't know about frenzy, but anymore if you have more than 250K then you have to worry but under that it is at least insured. Also this limit only applies to an individual at one bank. The 250K limt also just went into effect on Friday or Saturday with the passage of that huge bill.

I have money in Wachovia, but they "just" got bought out. My family also has money there and were sweating a little, however the isured amount is still safe.
I took the bulk of my money out plus I cashed in my 401K. I think you did the right thing. IF the FDIC didn't have enough money to cover all deposits when it was insured up to 100K, how in the hell can they cover it by raising the amount covered to 250K? Its all a shell game to appease people.
Leave enough in to cover your checks, withdraw the rest.
 

·
to listen
Joined
·
284 Posts
We took a large amount out of our banks in England, as the ones we are with were going up and down. The only amount we have left is for bills and main mortgage and the people we have that with we are watching like hawks. We have been prepping for a while and its thanks to all you guys that we have alot of ideas :thumb:
 

·
Come quickly Lord
Joined
·
2,049 Posts
Keeping mine in. I'm fairly certain that mine is safe for a while. I use Chase. Once Bank of America goes downhill, I'll consider pulling out.
 
1 - 20 of 48 Posts
Top