I expect hyper inflation to hit us all. However run on banks is kind of a different phenomenon. Since credit unions operate under a different principles than banks, will they be hit the same as banks? What's your take?
Comments (7)
sorted by:
Not a finance fag just anecdotal but the last two days the ATMs at the credit union were empty so today I'm going inside to get money from a teller. But then there is a two week wait to get an appointment to open a new account so I have no idea what's going on!
Depends on how much the credit union is exposed to treasury notes.
The system is all connected and what effects one effects all of them. The system is trying to consolidate and pump liquidity into the debt market. The ship is sinking. It is just a matter of time before it finally goes down. When is that moment? Who knows. We just need to be ready because they sure as hell are not going to give us a head's up when it decides to crash. They are moving to CBDC.
If depositors try to pull too much cash out of the system at once, all the banks and credit unions are in danger. There is not enough cash in circulation to cover bank runs. This lack of available cash further drives panic for people. Have gold and silver with some crypto. All the eggs in one basket is never a good idea.
What Do This Weekend’s Bank Failures Mean for Credit Unions?
Follow up: went into the credit union lobby and saw a teller. Was told they have a daily cash limit of $500. She actually said "Today's limit is $500" so I take it to mean it fluctuates. Back tomorrow I go!
Interesting. Never heard of a limit that low before.
That's the ATM limit so I was shocked that the human teller limit was that "today"
That's indeed interesting.