Bank withdrawals & Cash hoarding
- Thread starter SWhiting
- Start date
Why on earth would you take cash from the bank and keep it at home?
I mean, at the bank it's guaranteed by the government, sure the dollar might be inflated into worthlessness but the FDIC is here to stay. If you're going to do this kind of thing at least buy gold coins or whatever...
I mean, at the bank it's guaranteed by the government, sure the dollar might be inflated into worthlessness but the FDIC is here to stay. If you're going to do this kind of thing at least buy gold coins or whatever...
holy shit
i still think gold is a bit of a joke if we ever got to that "edgy" a scenario don't u think you would look like a fool trying to explain to someone how much this gold knugerrand here is worth lmao or would they even take it at that point?, people would just walk into a store with their 50 cal Barret and demand all the goods they fucking want or someone looses their head
fuck i spelt lose wrong well at least this post had some value
fuck i spelt lose wrong well at least this post had some value
If the shit comes to head as so many "Sheepole" are predicting, then GOLD is worthless.
You want healthy Land, Weapons, and a source of Water. Metals will do nothing for you as "animals" will bea "Means" of exchange than gold.
So most of you are fubared.
The reality is that 50% of the Finacial Work Force will be unemployed by summer 09. Unemployment will jump as high as 10% if not 13%.
Consumers will no longer spend, credit will no longer be a easy way out, the world of pretending you BLING BLING is over.
But, if your in an industry that survives, you will be fine.
Energy, Health Care, Manufactures of 'Key Items", etc, will be ok.
Those who have built their wealth on "hard assets" , private business owners with high net worth, etc. will all be fine.
Plenty of people survived the First Depression and plenty of people made money during the First Depression. It will be no diffrent this time around.
Those of you, and you know who you are, will fail and fall because of your "habits" in leverage for "THINGS".
Cash, is king right now, but soon Chicken's, cows, corn, may take the Kings Court over. IMHO, it will not happen, but you never know.
You want healthy Land, Weapons, and a source of Water. Metals will do nothing for you as "animals" will bea "Means" of exchange than gold.
So most of you are fubared.
The reality is that 50% of the Finacial Work Force will be unemployed by summer 09. Unemployment will jump as high as 10% if not 13%.
Consumers will no longer spend, credit will no longer be a easy way out, the world of pretending you BLING BLING is over.
But, if your in an industry that survives, you will be fine.
Energy, Health Care, Manufactures of 'Key Items", etc, will be ok.
Those who have built their wealth on "hard assets" , private business owners with high net worth, etc. will all be fine.
Plenty of people survived the First Depression and plenty of people made money during the First Depression. It will be no diffrent this time around.
Those of you, and you know who you are, will fail and fall because of your "habits" in leverage for "THINGS".
Cash, is king right now, but soon Chicken's, cows, corn, may take the Kings Court over. IMHO, it will not happen, but you never know.
Gold isn't really useful in that sort of scenario. It's more of a long term store of wealth.
If too many people start to keep their cash at home, the government can force them to bring it back to the banks by changing the bank notes. I can't see the point of having more than a few weeks supply of cash.
