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  • #15801
    Profile photo of tweva
    tweva
    Survivalist
    rreallife

    So, I am very curious. If you have any significant (to you) money in a bank…have you thought about/have a line/terms in your mind when you will withdraw it before…..(insert your scenario). Or, do you ‘keep your cash (for whatever it is worth) in your mattress?’ Or, are you slowly converting any of to hard assets of some sort? Figures aren’t important…it’s strategy/kick points I am curious about.

    #15813
    Profile photo of Broadside
    Broadside
    Survivalist
    member3

    My wife and I made the decision to move any paltry savings out of the bank a couple months ago. All we keep there is “operating money”, you know enough to pay the mortgage and whatnot. All other money we’ve started keeping in cash.

    What they (the banks) were able to get away with in Greece very recently also prompted me to cash out a retirement account from an old job and have used it to pay some of our debt. Some was converted to tangibles.

    My bottom line is, I don’t have a lot but it’s MINE. When they start “bailing in” for real here in the states they’ll get a few bucks from me (whatever the dollar is worth by that time) but they won’t get the bulk. Besides, with no interest rate for me to keep my deposit there I’m just losing value for no good reason.

    #15819
    Robin
    Robin
    Survivalist
    member8

    I have a checking account and a passbook savings account. Checking account pays my bills and savings account buys my preps. The savings account is not online and there is no debit card for it. I did this on purpose as I must drive the 21 miles to the bank to withdraw from the savings.
    Robin

    #15823
    Malgus
    Malgus
    Survivalist
    member8

    Broadside, twee, etc,

    Without going into too much detail, about a year ago I got an email from a friend who worked as an investment banker in NYC. He said, in no uncertain terms, that we should pull all our cash out of the bank and invest in hard assets. He then quit his job, sold his house and moved him and his family 2000+ miles across the country. He now lives up in the Rocky Mountains and works at some podunk bank. Don’t know what scared him so bad to do that, but if he is willing to do all that, then we were gonna do what he said.

    Like you Broadside, we yanked everything except “operational” funds. Some we kept liquid, most we bought PM’s and other hard assets with. The liquid we keep for when things start to go wonky – like if you need to buy something and the seller will accept cash only, no debit cards, no EBT cards, no credit cards. Once our phony-baloney fiat currency becomes worthless, then we will switch to barter or dealing in PM’s…

    The wicked flee when none pursueth..." - Proverbs 28:1

    #15826
    Profile photo of 74
    74
    Survivalist
    rnews

    Had this in mind for about 6 months now and haven’t done it yet. I would like to buy mosty food and ammo.

    #15847
    Profile photo of undeRGRönd
    undeRGRönd
    Survivalist
    member8

    Time is getting Short, 1974!

    Signs are indicating it could be this year, I think the plan is a few more years but this huge machine of our world economy is not completely under their control. Russia, trying to establish more control in European Energy markets has pissed off the Petro-Dollar bunch, and prompted resistance in the Ukraine. Syria was part of this too. (IMO)
    Russia is pushing back and it is the U$D paradigm that is their target. China will likely reign in Russia, as they still hold too much U$ debt in T-Bonds to allow Russia to topple the U$D too early. Putin just sold ~20% of Russia’s T-Bond holdings, and the F’ed Reserve laundered the buy-back thru Belgium and the money came from the ECB’s “secret bailout” that was rumored to have been paid for during the Obama reign.

    So, if TPTB has their way, they will pump the dying U$D system for all it is worth for a few more years, but Russia and China can make it topple at any time. But they will wait until they have a minimum exposure versus the possible gains from selling slowly to the world market. That “world market” is really a misnomer, the only real buyer of U$T Bonds is the F’ed Reserve, but QE is being tapered, so they have to “back door” these purchases.

    As you can see, it gets really shaky from here until the end. But the end is inevitable AFAIK…

    "ROGUE ELECTRICIAN" Hoping to be around to re-energize the New World.....

    Cogito, ergo armatus sum

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    #15852
    Tolik
    Tolik
    Survivalist
    member10

    I only keep enough in the bank to pay the bills , the other money is elsewhere and available .

    #15853
    Profile photo of 74
    74
    Survivalist
    rnews

    Underground,
    Yes I know, todays news about the European Central Bank is a key indicator of a problem that can’t be fixed. They are standing on the brake pedal hoping there is room to stop before the crash.

    #15858
    Profile photo of undeRGRönd
    undeRGRönd
    Survivalist
    member8

    @1974 @74 (which is correct?)

    Ahhh, the Negative Interest Rate?

    They are charging .1% to use bank services… so much for “free checking”, eh?

    "ROGUE ELECTRICIAN" Hoping to be around to re-energize the New World.....

    Cogito, ergo armatus sum

    #15871
    Jay
    Jay
    Survivalist
    member3

    Im in the same position as most of you. Just keep operational money around. The rest is invested in things I need. Really happy we bought the land / build the homestead right now. Otherwise I would have felt uncomfortable just saving that money.

    Right now pretty much what comes in, goes out every month. I hope I can save a bit again in the coming month but then this will be reinvested in something physical (more likely building something more on our land, getting all the preps ready here).

    Since 2008 when it became pretty obvious what kind of crooks run the banking system I didn’t feel good about banks. I want to deal with them as little as possible. Same with the government. I don’t need anyone interfering with my life.

    Alea iacta est ("The die has been cast")

    #15876
    Profile photo of undeRGRönd
    undeRGRönd
    Survivalist
    member8

    That’s pretty much what I do, “operational funds” only in the bank.
    Stack for savings, Silver, Lead, Brasss…
    22lr may become the “new currency”, it is commonly going for $10 per box of 50 some places.

    "ROGUE ELECTRICIAN" Hoping to be around to re-energize the New World.....

    Cogito, ergo armatus sum

    #15877
    Malgus
    Malgus
    Survivalist
    member8

    Heh… “crooks running the banking system”…

    I have pet nicknames for various things. Washington DC is “Mordor”. Before Jay Carney quit, he was referred to as “The Mouth of Sauron” or “Baghdad Bob 2.0″.

    The banking system – that is, Treasury, The Fed, TBTF Banks and the Banksters that run them, Wall Street, etc… are all in collusion to syphon as much treasure out of the US as possible before the collapse… I refer to this cabal of “the banking system” as “Mos Eisley”.

    Mos Eisley Spaceport… “You will never find a more wretched hive of scum and villainy”…

    Yeah, I know I’m mixing pop culture references, but they’re my nicknames for stuff.. :)

    The wicked flee when none pursueth..." - Proverbs 28:1

    #15880
    Profile photo of undeRGRönd
    undeRGRönd
    Survivalist
    member8

    LOL @malgus :D

    "ROGUE ELECTRICIAN" Hoping to be around to re-energize the New World.....

    Cogito, ergo armatus sum

    #15886
    Selco
    Selco
    Survivalist
    member6

    Money is great to have, but it sucks when you realize one morning that it does not worth anything anymore, or lose 50-60 % of its value. It happened many times trough the history.

    It is cool to invest it in something really valuable, preferably into the something that gonna gain value when SHTF, food, ammo, etc.
    It is also good to have some amount always with you, in case of bribing someone in first days of chaos, when people still gonna think that money matters.

    #15891
    Profile photo of undeRGRönd
    undeRGRönd
    Survivalist
    member8

    That would be funny as all get out, you give a shifty character a big wad of paper bills for a good SHTF item or ammo, something like that, right before the paper bills become low grade toilet paper :D I need to save up at least some FIAT I guess! The old school preppers over here in U$A say to have a good amount in small bills, 5’s, 10’s, 20’s and some ones. Saving coins (change is a great idea as well, even the junky dimes and quarters, but I tend to turn mine in for FIAT so I can get other stuff, usually ammo :D

    I save copper pennies, OK for bug IN but I’d prolly leave them behind, especially if I was rushed in a Bug Out.
    I have a fellow over on silverdoctors who says there is a plan to back the U$D (or replace it) with Copper Coin, and Silver and Gold, but Copper would be the mainstay. The new “Dollar” would equate to basically 2 (TWO!) of the old
    US Cents, pre-1982 or roughly 6+ grams of Copper.

    If you have the means and storage, save your copper cents (¢) because they are already worth between 2 and 3 cents right now, but likely more if you factor in Precious Metals Manipulation. U$ Nickels are worth right at 5¢ but were close to 8¢ in 2008 because China was hoarding all the metals right then, to build up the Olympics. Any nickels and pre-82 pennies are worth more than face, so save those. It’s just a cheap and easy way to get some monetary insurance against Dollar Devaluation. I’ve been doing it for a few years now, and it does not take up very much space…

    "ROGUE ELECTRICIAN" Hoping to be around to re-energize the New World.....

    Cogito, ergo armatus sum

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