Can we have a thread about what the hell to do right now?
🗣️ DISCUSSION 💬
First of all, I'm an idiot when it comes to anything financial. I know many of you aren't. What is the safest thing to do with the money (fiat) that we do have right now? Leave it in our local bank? Credit union? Keep it as cash in my sock drawer? Also, the money in my 401k? Switch it over to bonds or something else I don't fully understand? Any thoughts from someone who's been paying better attention to these things than I?
Thank you. I have heard the word derivatives but never knew what they were. I'll look them up. But how does one find out if their own bank is deep into derivatives (or other harmful investments?) I heard Sean Hannity saying that Peter Thiel had pulled millions out of Silicone Valley Bank a while back because he had looked at their spreadsheet (so to speak) and didn't think they were running the bank properly - he thought they were too risky. But I was thinking, well, that's Peter Theil. He knows what he's doing and how to find stuff. But how does the average person who has no idea what all that stuff means - know how to check?
Here is a thread from a few weeks ago. Keep in mind ALL U.S. banks are on this list. Don't freak over the post title.
My local bank has zero derivatives so I am feeling much more comfortable about it. Especially since my hubby pointed out that the bank survived the depression.
https://greatawakening.win/p/16aT37RoOY/if-your-bank-is-on-this-list-you/
Thank you so much!