One of the stickied posts mentions Trump's allusion to economic collapse, or bank collapse. I don't know what the monetary-related collapse will be, but it will be economic in nature.
So, I think it's a good opportunity to review a checklist of things to do if you haven't already. And, more importantly, it would be great if Anons share their recommendations, too.
Not in any particular order (and not all of these pertain to everyone).
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Get some precious metals if you still can. It may be an opportunity to get ahead for yourself, too.
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Have 3-4 months of food and water safely stored away.
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Have cash outside the bank, because for a little while cash will be king on the street.
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If you can, have a weapon on you and in your home. Obviously have ammo.
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It's winter... be prepared to make yourself warm and to stay warm. Do not depend on utilities.
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You might consider removing your cash from the bank, but leaving enough in if you pay bills from your account.
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If you have debts, I don't know what to say. My plan is to pay them if I can, and if not... well, then I'll cross that bridge later. If it gets too crazy, I may just declare bankruptcy, but maybe the banks will go under first. I am half tempted to max the credit card and say "sorry" in the aftermath.
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Get in touch with local alliances you've made and make sure you're on the same page.
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Be sure to connect with God.
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Just remember... you will get through this storm and it will be amazing on the other side.
I'm curious if the bank collapse will nuke all bank debt? Bank goes. Does the debt go too?
That’s what I always wonder too
Glad I'm not the only one. Been wondering about it for a while. If BOA crashing is true we'll see what happens to all the debt accumulated.
If a bank collapses, someone gets the assets. A regulating agency, or another bank that buys it on the auction block. Regardless of who picks up the scraps, your loan is part of those scraps and your payment will be due to whoever the new owner is.
my bank sold my creditcard debt to a debt collector because i stopped paying it off. the debt collector couldn't do anything because i asked for proof of contract. they sold the same debt to another. asked again for proof. never heard from them again.
like student loans ? Maybe every America. gets their tax payments back in the new America (a poor middle class man can hope :)
Just charge it all to the banksters.
My rationale is that they caused the problem and di not live up to their end of the bargain, so keep their debt... I won't pay it.