The Fake News says that "small regional banks" are vulnerable. They are pushing us to move money INTO the big banks. But look at that again. The amounts less than $250,000 are insured no matter where they are (although by a government a gazillion dollars in debt).
I don't know about you, but I have NO PROBLEM banking less than $250,000. Kinda wish I had that problem.
Also, remember that limit is per type of account and per person.
What is NOT insured are the amounts over $250,000. I had no idea there was that much money above the insurance cap parked in banks. But now I do.
Their vulnerable spot.
It looks to me that the safest place to put money are smaller well-run banks and credit unions who have a large number of small depositors and small loan customers. It's those high-flying techie bullshit companies that create financial chaos.
Also, how 'bout using credit cards not at all or less, so Visa and MasterCard make less money? And, of course, not using Amazon, etc.
GLOWIES!! Threatening to arrest Trump was a WAY stupid idea. We are way smarter than you are, and there are WAY more of us. You need us. We don't need you.
WE are not dependent on a high-flying lifestyle. We are perfectly happy with family, home, neighborhood, church. Many of us have paid-off mortgages and live simply. It is the Globalists who are vulnerable, and have their lifestyle dependent on billions of fake dollars floating around in banks. Plus these are people with zero practical job skills who would be out on the street without their fake dollars.
Thoughts?
I am planning to move significant funds, however after some research I came to realize that any insurance such FDIC or DIF (Massachusetts based insurance program for local banks) is only reliable if a couple of banks fail. if all of the banks fail than the amount of insurance funds available is 1% or less than deposits held. for example, I read that for every $10,000 worth of deposits held in amounts of $250,000 or less, there's only $6. in other words, if all banks fail and everything is equal, depositors get $150 for every $250,000 they deposited ! yikes. if only a few banks fail than it's more likely the FDIC will cover fully up to $250k.
regardless though, I don't like big banks. so I'm gonna move out of Citizens Bank into a local bank or 5 after meeting with a banker there. ultimately I'd like to buy land or other assets to get cash out of the bank but need time to find good purchases. already have plenty of physical metals I think
You are very right. We need to be prepared for anything.