Author Topic: Do you trust banks or hide your money in a safe?  (Read 3044 times)

avxo

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Re: Do you trust banks or hide your money in a safe?
« Reply #25 on: July 06, 2014, 02:06:06 PM »
FDIC insurance is a farce.  There isn't enough there to cover a full blown financial collapse and/or bank runs.

Keep your cash at home in a fireproof safe.  Small bills, nothing larger than $20's.  You're not getting any interest on it anyway.  You can get to it whenever you need to.

Even better... convert a majority of your cash to silver and/or gold.  This will preserve your purchasing power.  

Hyperinflation is right around the corner.  We will see $10/gal gas and $10 loaf of bread in the near future.

Bank "bail-ins" (they take the cash in your account to bail out their bank) are coming to the US.  This has already happened in Greece, Spain and Cyprus.  

Negative interest rates are being implemented by European banks... that means you have to pay the bank to keep your money in there.  This will eventually happen in the US too.  

The US is also considering confiscating all 401k and IRA accounts and converting them into bonds backed by the full faith and credit of the USA (:P ).  No paper investment instrument is safe.

Most people are in a social media/reality show induced trance... wake the fuck up people.

Oh boy... ::)