Wondering the same thing. It does pose an interesting question as to how safe/stable credit unions are. Will the Fed simply have more cash printed for the big banks, pay stupid money for these smaller institutions, and then shut them down? I dunno...
I have had my funds in one of the larger credit unions around these parts, for nearly 2 decades now. It's been great.
But the looming threat of implosion across the spectrum is still there. I wonder how "safe" credit unions truly are. I certainly don't lose sleep on whether or not my credit union is going to manage my money properly, or if they're involved in speculative bullshit. Nope, none of that, which is great. But they're still a bank, holding US Dollars, which depending on which theorist you ask, is in deep doo-doo at the moment.
Technically they've been preparing us for a long time, with the advent of digital payment systems and other electronic financing tools. But inherently, you still have those tied to your physical dollars being held somewhere. The CBDC is the last-stop for freedom, and at that point the train will be hurtling off the cliff.
"I wonder how "safe" credit unions truly are." From what learned they will be in the same boat unfortunately.. research it out... Try your best to get debt free from what you can ..
Yes lord! Being older can have its advantages. We finally have our ducks in a row. We have one car payment. Not much choice, I wrecked my old car in December. We had been looking but not very serious because I had a Toyota and loved it.
It helps put in perspective why previous generations stuffed money in mattresses and buried it in coffee cans. My brother says my granddad buried money. He's often said he wished he knew where.
On that subject my family has known a family in my area all my life. One of the grandsons got mixed up with a local drug dealer and eventually went to jail. Got caught in FL, he was one of the guys running the boats to pick up drugs. They had two, one was decoy and other got drugs. Basically they were living the drug portion life of Miami Vice. He told my husband every time he came home he and his dad would bury money. He had so much he couldn't put in bank with out suspicion. In 1999 my area had a bad flood. My granddad always told them to fix their drainage ditch in the yard. It has always been very bad and runs through the entire property. Well they never listened and lost all the drug money. I don't feel sorry for them, but it's a good life lesson on storing your money.
Ha ha glad I could help. My husband worked with the guy several years ago. He's several years older than me & I don't know him like I do his siblings. They are really nice, their grandparents and mine were friends and neighbors. When I found out he was working with hubby I figured he wouldn't like the former drug dealer. They actually got along good and he told hubby about his adventures.
I read a book about several generations of women slaves in Louisiana written by a lady that did her family tree and learned about each woman. I can't remember the name. It was about four inches thick but I got sucked in. Her parents or grandparents had reached a point in their lives they could save money. She tells about all the money they found in her grandmother's mattress after she died. For many decades black people didn't trust banks. (Probably every race but I understand why Black's wouldn't trust). That was such a vivid picture, stuffing money in the mattress.
Wondering the same thing. It does pose an interesting question as to how safe/stable credit unions are. Will the Fed simply have more cash printed for the big banks, pay stupid money for these smaller institutions, and then shut them down? I dunno...
Good question, u/Excelsior
I have had my funds in one of the larger credit unions around these parts, for nearly 2 decades now. It's been great.
But the looming threat of implosion across the spectrum is still there. I wonder how "safe" credit unions truly are. I certainly don't lose sleep on whether or not my credit union is going to manage my money properly, or if they're involved in speculative bullshit. Nope, none of that, which is great. But they're still a bank, holding US Dollars, which depending on which theorist you ask, is in deep doo-doo at the moment.
Technically they've been preparing us for a long time, with the advent of digital payment systems and other electronic financing tools. But inherently, you still have those tied to your physical dollars being held somewhere. The CBDC is the last-stop for freedom, and at that point the train will be hurtling off the cliff.
"I wonder how "safe" credit unions truly are." From what learned they will be in the same boat unfortunately.. research it out... Try your best to get debt free from what you can ..
Luckily I paid off all my banking debt a year ago, so I'm good there. It's nice when every month rolls around and I have no creditors to pay back.
Yes lord! Being older can have its advantages. We finally have our ducks in a row. We have one car payment. Not much choice, I wrecked my old car in December. We had been looking but not very serious because I had a Toyota and loved it.
It helps put in perspective why previous generations stuffed money in mattresses and buried it in coffee cans. My brother says my granddad buried money. He's often said he wished he knew where. On that subject my family has known a family in my area all my life. One of the grandsons got mixed up with a local drug dealer and eventually went to jail. Got caught in FL, he was one of the guys running the boats to pick up drugs. They had two, one was decoy and other got drugs. Basically they were living the drug portion life of Miami Vice. He told my husband every time he came home he and his dad would bury money. He had so much he couldn't put in bank with out suspicion. In 1999 my area had a bad flood. My granddad always told them to fix their drainage ditch in the yard. It has always been very bad and runs through the entire property. Well they never listened and lost all the drug money. I don't feel sorry for them, but it's a good life lesson on storing your money.
This was like some sort of condensed movie in my head. Thanks for the anecdote, Fren.
Ha ha glad I could help. My husband worked with the guy several years ago. He's several years older than me & I don't know him like I do his siblings. They are really nice, their grandparents and mine were friends and neighbors. When I found out he was working with hubby I figured he wouldn't like the former drug dealer. They actually got along good and he told hubby about his adventures. I read a book about several generations of women slaves in Louisiana written by a lady that did her family tree and learned about each woman. I can't remember the name. It was about four inches thick but I got sucked in. Her parents or grandparents had reached a point in their lives they could save money. She tells about all the money they found in her grandmother's mattress after she died. For many decades black people didn't trust banks. (Probably every race but I understand why Black's wouldn't trust). That was such a vivid picture, stuffing money in the mattress.
It further reduces inconvenience for them as a cbdc doesnt require printing anymore. blip blip blip "Oh look. We just added a 0."
I’m sorry but can I get a rule check? Is it ok to call someone a dumb fuck fool or not? I can’t recall.
If the shoe fits...