If we think (and there have been numerous posts here to support this idea) that all major banks are going to fail because of over-investing in derivatives, what should we do if we have money in those banks? Pull it out in cash? Convert it to silver or gold? Put the cash under our mattress? And will cash be worth anything?
So if we have cash in checking or savings with a bank, how can we protect our assets?
For what it's worth, I've read switching over to a credit union may be safer than the regular banks.
Even given what major banks charge you to do business with them, you'd be far better off at a local credit union.
Most CU are owned by the larger banks. Read the small print. No banks or CU will be safe if there is a crash.
Same with the smaller "community" banks, I was looking at some and they're all part of the same machine.
I did not know that, thanks. I went with Navy Federal Credit Union, I'll have to check that out.