Have you noticed your bank has closed branches? Have you noticed that they are making it difficult to transact in cash? Have you noticed that your current branch will not allow you to transact at your branch and you need to travel to the head branch? Do you have elderly family that might be confused at new rules and do not understand what is required? NOW is the time to remove or close accounts that you feel might not be providing the service you expect. This is not restricted to small regional branches - it’s happening across the banking sector…….worldwide.
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I ditched Skank of America in 2004 and have been a happy member of my local credit union ever since. I recommend more frens check out the benefits of credit unions.
What happens in banks will also happen to the credit union. The only difference is the big banks go first and credit union maybe a few weeks later. That wont matter as soon as the big banks go you will find the credit union at that point will not let you withdraw the money.
Great advice! I love my credit union. Hoping it will weather the coming financial storms, but I'm concerned it may go the way of the central banks because they share the same currency and transfer mechanisms.
True, but at that point we will have bigger problems that makes this conversation largely irrelevant. Until then, credit unions are the way to go, if you plan on trusting the holding of your money with a financial institution.
I agree.
I'm not predicting anything but I've just made a bit of prep in this regard a habit.
Have food on hand.
Have backup power on hand.
Have backup heat on hand.
Have protection on hand.
Have cash on hand. Good mishmash of bills (1s, 5s, 10s, 20s) so you can make exact change and do small transactions.
I will say though, fedbucks are fedbucks. If you're under the FDIC limit then one fedbucks institutions is as good as any IMO. Having more than one account is good practice anyway (in case for instance you're cancelled for wrongthink).
Good list. Also don't underestimate how long it takes to stock up on cash in small bills. Especially when atm withdrawals are limited in amount and denomination.
when it get's bad and we are to the point where hoarded cash is required. $1's will be useless. Unless you have thousands of them.
Except FDIC will fail if there’s a real problem
Great list but you may wish to consider some silver. A collection of 1-ounce generic silver coins along with some 10-ounce silver bars would likely serve you well. The value will never go to zero and is expected to increase substantially throughout the monetary collapse.
You can acquire anonymously at your LCS (Local Coin shop) or online by larger reputable suppliers. You can even purchase at a discount through Wally World, and your order if fulfilled by APMEX.
To learn more, consider the WallStreetSilver group on Reddit.
BYOB - be your own bank.
This. I’ve been stashing gold in the tank of my toilet for years now 😎
Don't forget to put a little in your gun safe so they don't look any more.
What is the exact street address of your home? We might want to send you a free small gold coin.
Add some cash to that, for the interim.
Cashed out of the banking system 3 years ago. I only keep enough to cover monthly bills and regularly take out any overage every pay. They kinda look at me funny lately when I ask for 1's, 5's and 10's only kek. Got plenty of higher denominations and a good amount of gold n silver. Lots of food canned from summer and frozen! Trying to talk my daughter into a chicken coup in her back yard (I live in a condo or it'd be done already). Granddaughters love the idea! They're finally waking up but still think I'm a little crazy...which is ok. Don't mind a bit because when it's at a breaking point, I will be there for them and others.
Got my eye on 6 deer that live in the woods behind me and some turkeys...bought a crossbow since hunting isn't allowed. Country girl can survive!! By the grace of God...
Blessings..
Seems like our lives are running parallel. 😀 and your family might be better joining you 😀. We have the room for chickens and could be put up quickly if need be. Today after a couple of months working on it, my husband is finally finished a small conversion within our home to bring our daughter to live with us after a messy separation. She now has a sound proof office, own bedroom and living area with its own entry. When we locked down (I’m in Australia) we were restricted to moving only 5 klms from home (Daughter was just outside that) and she was all on her own as she was able to work from home. Six months she had no visitors, no social contact. She was a mess when we were finally able to see her face to face. I’ve often thought how my active 90 year old Mother would have faired. Thank heavens she went to be with her Lord 10 years ago. We couldn’t have even bought her to live with us as Police were checking ids and if you were outside that radius, you were heavily fined.
I’ve said it on GAW to consider a family member or friend on their own to provide emergency accommodation. Just a bed and the love of family is all they need. If people have children at college, have you considered how they will get home if things go belly up?? Do they have access to cash? What if they have to walk home? Are they prepared with things that can sustain them? One idea for your college children is to have a secured storage locker off campus with a push bike, backpack, supplies like mountain food etc. maps with different routes, cash, etc. to get home. If society breaks down, they need to be way out of the city before looting, fires etc starts. This should be discussed now. It doesn’t matter if they never use it, it’s there. What about a friend they can trust to get home together? So much to consider. All we can is prepare. Pray and prepare. God Bless fren.
The continents may divide us in distance but we are side by side in our planning. I've ridden motorcycles my entire life and have one stashed away should I need it, gas reserves for it are also stocked up. 72 miles to the gallon is a no brainer. Teaching my 16yr old granddaughter to ride as well. I've always been a rebel, but a God fearing one since birth. He guides my path always.
My family lives a mile (1.6k) away so I'm very close. They have a large home with tons of space. I'm gonna get those chickens come spring. Their neighbors got 6 in the fall but failed to secure them in a proper coup and enclosure so the foxes probably are what ate them all (they are rookies but we're trying).
I'm a country girl who has hunted, fished and spent decades in the woods. I'm at home there and prefer it. I moved cross country to care for my daughter and granddaughters due to my daughter getting ill in 2018. We will be moving back down south within 2 years to a red state where life is more in line with my desires.
I pray for us all....every day. We are going to need to find the will to continue on when no will exists. But we are blessed.....God wins and wwg1wga.
Blessings for you and yours fren. Sounds like you have things well in hand.
And to you too! When all is stripped away, family and faith is all that matters. God Bless!!
What about Credit Unions? I'm with a local CU and gavent had issues yet.
I haven't had a bank account since 2019. Cash only.
It's hard to do when one is working for the man to earn a crust. The first question they ask when one joins a workforce is: What is your bank account number?
I use a small very rural regional bank near my home, but I have decided to get most of my cash out and leave just enough to keep the account open. As a just-in-case. And buy as much silver as extra money will allow.
If my bank did that I would have to drive 8 hours to get to the main branch.
Probably a wasted trip main branch probably won’t have it either
There are no bank branches in my town. When I moved here, there were at least four branches - so yes I nooticed the closure of branches very much.
I have since taken steps to put more transactions through a Building Society (which is similar to a credit union) that is at least 'locally' owned. My big issue was international banks, which I believe to be more exposed to international crashes. However, because there are no branches in my town, I need to use a card to buy stuff. So, the next step is to start using a debit or eftpos card (not credit) from that building society, rather than the existing cards I have right now, which are remnants from previous arrangements.
I did hold the opinion that having a few banks to my name would reduce exposure, but in the end, they all boil down to Visa/Mastercard anyway. So there's that.
The other thing is payment systems like Paypal. Our business was doing well with that, because we could export easily to pretty much anywhere in the world. However, they decided that we had not shipped something when we had, and took $500 US dollars away from us and returned it to the lucky buyer - who got his money returned AND the product. This is when we stopped using the system, and it subsequently crashed our export business. NVM, we have changed what we are doing now - I can't be bothered with exports now. Paypal is just too overbearing and authoritarian. They insisted that every shipment had to be tracked, but this was a new policy at the time, which we were not aware of - hence the return. Tracked goods, although normal now, were three times the shipping fee.
We have looked at bitcoin as an alternative, but I am leary of it, despite listening to Max Keiser on the subject. It just seems to be like gambling to me.
QFS incoming..... Banks that are not Basel 3 & 4 compliant will be forced to close. With QFS, banks as middlemen payment processors will be ended. They will no longer be the money robbers that they are today. No more fractional lending. No more debt slavery.