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 $250,000. I had no idea there was that much money above the insurance cap parked in banks. But now I do.
Their vulnerable spot.
It looks to me that the safest place to put money are smaller well-run banks and credit unions who have a large number of small depositors and small loan customers. It's those high-flying techie bullshit companies that create financial chaos.
Also, how 'bout using credit cards not at all or less, so Visa and MasterCard make less money? And, of course, not using Amazon, etc.
GLOWIES!! Threatening to arrest Trump was a WAY stupid idea. We are way smarter than you are, and there are WAY more of us. You need us. We don't need you.
WE are not dependent on a high-flying lifestyle. We are perfectly happy with family, home, neighborhood, church. Many of us have paid-off mortgages and live simply. It is the Globalists who are vulnerable, and have their lifestyle dependent on billions of fake dollars floating around in banks. Plus these are people with zero practical job skills who would be out on the street without their fake dollars.
Thoughts?
I came to the same conclusion and moved my money to a local credit union. I'm sure BofA won't even notice I'm gone, but when the rest of us frogs do the same, they'll notice for sure.
When I paid off my mortgage with BofA, the manager looked at the check, it was 6 figures AND OVER 500,000 he looked at it and then me and his face turned WHITE...I just smiled!!! This was in the 2008 housing crisis!!! Loved it...
BofA in St Augustine Beach, Fl...
That must have felt awesome. We're gonna win and these pirates are gonna pay.
YOU are ABSOLUTELY CORRECT...He was the BRANCH MANAGER and he "HAD" to accept the check as FULL PAYMENT...He checked with the teller to MAKE sure the funds were there...The IDIOT did not REALIZE that the house had been dropped on him...IT WAS A LOVELY SCENE...
nice fan fiction.
NOT FAN FICTION...still have a copy F$CKING CHECK...As the English would say:
"Piss OFF"!!!
Picking up the wife (who is finally pregnant [with twins]!) as soon as I get home from work to go get our cash out of the bank and into the local credit union!
You are blessed. Congratulations!!
He's Blessed Twice...CONGRATULATIONS AND Pray that everything works out for the Credit Union and the TWINS...WOWZA...
Have belonged to a credit union for over 20yrs...
Agreed. We are planning on withdrawing some $ from a regional bank and depositing into a small credit union we learned about. We also have been withdrawing cash and keeping at home in a safe. Also, been buying silver and keeping it my safe, both uncirculated 1oz coins as an investment as well as “junk” silver quarters (1964 and earlier). Living more frugally.
Credit union up the street is my bank.
We've been with a local credit union for a while, but I helped two others get out of big banks last week. The news is scaring people, so now is a great time to calmly explain the importance of banking locally.
We switched to a credit union many years ago, long before we knew what we know now. Why did we switch? BofA changed their colors on their logo to all red. Something about that just irked me. Seriously! My hubby thought I was nuts then.
They would shut everything down out of panic.
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.
I've been with a local bank for 3 decades. I have been moving cash out of it into metals over the last several years.
This is why Occupy Wall Street was killed so quickly. Everyone should have moved their money to a CU in 2011.
What's a good credit union to use nationally if you move between states?
Yes! I stopped banking entirely about 5 years ago and then I had to get an account and went to my local credit union. Never looked back!
I have been local for years! Please for the love of God get your money out of these big banks! All of them! There is zero reason to be with them. You will find that you get better treatment from the local banks, easier loans, etc…