All of the big ones do it, bank of america, chase..... their are not many small independent banks left. If you live in a small town you might have one. Credit unions are owned by the depositors. They were set up 100+ years ago when the people figured out how the banks were ripping them off.....
Mine is a more local bank, and afaik not affiliated with FNB. The bank I switched from is affiliated and I moved my money from the SVB crash. Credit union, however, sounds better every day lol
if/when this happens will bill-paying really matter? I've been thinking about the same thing and how to have cash around, but if this happens to all major banking institutions won't almost all be in the same boat? If cash/the dollar is worthless...what happens? I understand buying gold/silver because it retains its value, but how do you conduct commerce with it (I don't mean to sound like an idiot)? Will the grocery store accept gold/silver? These are just questions that I've had...
I've had the same question. If you give someone an ounce of gold to purchase something, are they going to give you change back in a lesser quantity of gold? How many different sizes of gold coins are available? And then on top of that, a store is going to have to figure out what their products are worth in gold.
You know what is likely to happen anon. It will be like a bolt of lightning when it happens and no one will have time to react. The large institutions are already positioning themselves and we should too. Just do what you can and trust in God.
Even a better way to steal money is for it Weimar style and hyper inflate which is a distinct possibility.
Chinas Evergrande or country garden blowing up officially. Or the bond market blowing up. These people are experts in screwing humanity. There will be only one…
Every month, I take a portion out of my savings account to buy physical gold. It’s about 50/50 now. I plan on being 60/40 gold/savings by the end of the year. So far, I can use my income and checking account to pay the monthly bills.
Who knows if anything what will happen, but it’s a good idea to keep some cash on hand as well as a stash of silver coins in case we end up in a barter situation. I believe that would only be temporary though, but what do I know.
The real answer though, is that God knows how to provide for his children. When Egypt was in darkness, Goshen had light. Trust in God.
You should move out of any institutional bank and switch to a credit union
Very true, or at least a small local bank that doesn't play around with swaps and derivatives.
How do you find that information on your bank?
All of the big ones do it, bank of america, chase..... their are not many small independent banks left. If you live in a small town you might have one. Credit unions are owned by the depositors. They were set up 100+ years ago when the people figured out how the banks were ripping them off.....
Mine is a more local bank, and afaik not affiliated with FNB. The bank I switched from is affiliated and I moved my money from the SVB crash. Credit union, however, sounds better every day lol
I looked into them, they sound awesome. But the ones in my state, I would have to dig for one I qualify for lol
I have some cash in the checking account to pay bills electronically.
"supposedly", great point!
Just keep it to a bare minimum.
if/when this happens will bill-paying really matter? I've been thinking about the same thing and how to have cash around, but if this happens to all major banking institutions won't almost all be in the same boat? If cash/the dollar is worthless...what happens? I understand buying gold/silver because it retains its value, but how do you conduct commerce with it (I don't mean to sound like an idiot)? Will the grocery store accept gold/silver? These are just questions that I've had...
I've had the same question. If you give someone an ounce of gold to purchase something, are they going to give you change back in a lesser quantity of gold? How many different sizes of gold coins are available? And then on top of that, a store is going to have to figure out what their products are worth in gold.
You know what is likely to happen anon. It will be like a bolt of lightning when it happens and no one will have time to react. The large institutions are already positioning themselves and we should too. Just do what you can and trust in God.
Yup. They won’t give anyone time to cash out.
Even a better way to steal money is for it Weimar style and hyper inflate which is a distinct possibility.
Chinas Evergrande or country garden blowing up officially. Or the bond market blowing up. These people are experts in screwing humanity. There will be only one…
Every month, I take a portion out of my savings account to buy physical gold. It’s about 50/50 now. I plan on being 60/40 gold/savings by the end of the year. So far, I can use my income and checking account to pay the monthly bills.
One step before that is stop paying taxes day.
We need to know when that is.
Then the tea party.
Move to credit union. Keep to minimum just to pay bill. Take some cash on hand.
Can people pay bills electronically from a credit union?
Bill Pay. Yes.
Who knows if anything what will happen, but it’s a good idea to keep some cash on hand as well as a stash of silver coins in case we end up in a barter situation. I believe that would only be temporary though, but what do I know.
The real answer though, is that God knows how to provide for his children. When Egypt was in darkness, Goshen had light. Trust in God.
If you have cash savings that you don't plan on touching, convert to gold, but for the cash you need to pay your monthly bills leave it be.