Cash structure is different; they're not incentivized/ coerced/ bullied in the same way as big banks with boards of directors made up of blackrock and backyard cronies to repackage debt and create new instruments out of thin air to be sold, repackaged again and resold multiple times to inflate the paper value of the bank assets.
Credit unions are unions of individuals; they are owned by the people who have deposits in the bank. Every share of your deposits in the bank get you more representation. This is why your savings account money is called 'shares' in credit unions, but just 'deposits' in big banks. While the evil gov could try and seize these as well, it will be harder because they're not centralized in the same way or same places, so at best they can't get to them, at worst we would have enough warning time to get there first.
Meanwhile, pulling out a bit at a time in hard currency might not be the worst idea right now.
Exactly, similarly insured as FDIC by the NCUA. Don't think this idea works, may delay the inevitable if they start limiting transactions but it won't stop it.
When you put money in, notice that it's called a 'share' - this actually represents your share in ownership of that credit union. In a big bank, your money is just a deposit and it's the bank's to do with as they please and by the way you may lose it.
Credit unions operate under different rules, they listen to their owners (us), and the funds are not kept in the same places as big banks. They don't repackage the mortgages or card debt and resell it in different forms multiple times, so aren't stretched out falsely and we can go and get our money out. Big banks are like the over-shorted stocks, there's more in paper than in reality, so if everyone there true to get their money out, which may happen soon, the whole house of cards collapses.
Nonetheless, we've been pulling out cash gradually just in case. You might want to consider this tactic.
Already in a Credit Union. 2 in fact. One is tied to my DH's employer, the other is where I keep my independent contractor payments.
Why anyone who has a clue regarding the Central Banking Cartel still keeps their money in a Bank of America, Chase Manhattan, Wells Fargo, or similar bank may have some surprises in store.
If the US Government were to freeze bank accounts why would we think it would not involve Credit unions?
Cash structure is different; they're not incentivized/ coerced/ bullied in the same way as big banks with boards of directors made up of blackrock and backyard cronies to repackage debt and create new instruments out of thin air to be sold, repackaged again and resold multiple times to inflate the paper value of the bank assets.
Credit unions are unions of individuals; they are owned by the people who have deposits in the bank. Every share of your deposits in the bank get you more representation. This is why your savings account money is called 'shares' in credit unions, but just 'deposits' in big banks. While the evil gov could try and seize these as well, it will be harder because they're not centralized in the same way or same places, so at best they can't get to them, at worst we would have enough warning time to get there first.
Meanwhile, pulling out a bit at a time in hard currency might not be the worst idea right now.
Exactly, similarly insured as FDIC by the NCUA. Don't think this idea works, may delay the inevitable if they start limiting transactions but it won't stop it.
I’m trying to find out as well ?
MOVE. A W A Y. FROM BIG BANKS!!!!!!!
Smaller banks are safer...... credit unions more so.
I went to a credit union , but forgive my ignorance I don’t know why cash is safer there ,, can you educate me on this TY
When you put money in, notice that it's called a 'share' - this actually represents your share in ownership of that credit union. In a big bank, your money is just a deposit and it's the bank's to do with as they please and by the way you may lose it.
Credit unions operate under different rules, they listen to their owners (us), and the funds are not kept in the same places as big banks. They don't repackage the mortgages or card debt and resell it in different forms multiple times, so aren't stretched out falsely and we can go and get our money out. Big banks are like the over-shorted stocks, there's more in paper than in reality, so if everyone there true to get their money out, which may happen soon, the whole house of cards collapses.
Nonetheless, we've been pulling out cash gradually just in case. You might want to consider this tactic.
Already in a Credit Union. 2 in fact. One is tied to my DH's employer, the other is where I keep my independent contractor payments.
Why anyone who has a clue regarding the Central Banking Cartel still keeps their money in a Bank of America, Chase Manhattan, Wells Fargo, or similar bank may have some surprises in store.