Page 3 of 4 FirstFirst 1234 LastLast
Results 21 to 30 of 32

Thread: please don't withdraw your $

  1. #21
    Join Date
    Apr 2016
    Posts
    4,819

    Default

    Quote Originally Posted by KINGCHIP View Post
    I've been moving more money back to my safe at home over the last 60 or so days. Not that I don't trust things, but this is all uncharted territory.Looks like Trump may have taken over the FED and that Weill make some world money controllers unhappy. I support this, I think, but have not heard the part where we have gone back to a gold standard, so that is my reason for uncertainty.
    Same...and also investing heavily in brass lead and copper et al.....in addition to Au and Ag.

    Also watching to try to determine what may become a negotiable instrument in the future...if the dollar goes tits up..

    Orangetom
    Not an Ishmaelite
    Last edited by orangetom1999; 03-28-2020 at 10:33 AM.

  2. #22
    Join Date
    Oct 2009
    Location
    East TN Smokey Mountains
    Posts
    5,221

    Default

    same here and been doing so in small denominations $1, $5, $10 just in case we get to a situation where the ability to make change is restricted.
    takes up more space, but spends the same, hehe.

    I do have a handful 1 oz silver bars, but my concern for those is who is going to accept those in payment if things get dramatically worse.

    I don't think the dollar will loose its status as the world's reserve currency in the near term (20+ years).

    In order to become a reserve currency there are lots of conditions:
    There has to be a very large supply of that currency circulating around the world compared to other currencies.
    The more widely spread and more widely accepted world wide that currency is relative to other currencies the more likely it will retain reserve currency status.
    The issuer of said currency must have a sound economy compared to the other currencies and countries that back them

    In other words for all the bad things you can say about the USD and the financial health of the country that backs it, all the others are worse.
    Yuan? Rubble? Euro? don't see that
    bitcoin or other cyber currency? not for me, in an EMP that goes poof.

  3. #23
    Join Date
    Nov 2009
    Location
    East Tennessee
    Posts
    3,373

    Default

    Quote Originally Posted by explo72 View Post
    same here and been doing so in small denominations $1, $5, $10 just in case we get to a situation where the ability to make change is restricted.
    takes up more space, but spends the same, hehe.

    Good idea Explo. I have saw a couple stores that had signs up "no $50 or 100 accepted. Smaller demominations need to be on hand as well as bigger bills.
    Greater love hath no man than this, That a man lay down his life for a friend.
    John 15:13

  4. #24
    Join Date
    Sep 2009
    Location
    Michigan
    Posts
    1,129

    Default

    Quote Originally Posted by explo72 View Post
    very interesting

    why did the FDIC (Federal Deposit Insurance Corporation) chairman make this video on March 24 and say:
    "the last thing you should be doing is pulling your money out of the banks"?
    "I will tell you this, no depositor has lost a penny of their insured deposits since 1933"
    "so if you are talking about keeping your money in a safe place, please keep it in an FDIC insured bank"

    one minute long - https://www.youtube.com/watch?v=jdjz...ature=youtu.be

    silent, slow moving bank run?
    we all know that the banks don't keep enough cash to give everyone their $ back if they seek to withdraw it.
    we do know that ATMs in NYC have run out of cash at least once

    inquiring minds want to know
    There's been a slow scale bank run going on 3 weeks now. It's normalized a little since mid-way through last week but most banks I've been in for work over the last couple weeks have been limiting cash withdraws to $2k, the bank I was at last Thursday was $1500. The first week the stay at home order came out (week of the 16th here) it was a slow rolling bank run, I'd say every 3rd or 4th customer wanted more then the bank would give out. I heard this conversation multiple times over that week

    Customer: I want $x,000 dollars out of my account
    Teller: We are limiting withdraws to $2000 at the moment
    Customer: That's bull****, I'll come back tomorrow.
    Teller: You may not be able to take out $2k tomorrow, the limit could be lower.
    Customer: Give me the $2k today then....
    Teller: We are out of $100s, are $50s and $20s ok?
    "When you have to shoot, shoot. Don't talk." Tuco

  5. #25
    Join Date
    Apr 2016
    Posts
    4,819

    Default

    "the last thing you should be doing is pulling your money out of the banks"?

    Banks operating under a 'Fractional Reserve System" are always going to take this stance..good times or bad..they have to take this position.....ie….fictional Reserve system.

    This is BS on their part...as they often quickly loan it out ….at interest. They are BSing you. THey are not keeping it per se....while wanting you to keep it in the bank.



    From a prepper standpoint one should always have some cash in reserve...and out of the banks....This should be long established before any emergency.

    Just as in any other prepper supplies...put back for an emergency......abnormal situation. Money/cash is no different..liquidity.

    Your food, medicines, barter supplies are all liquidity.

    And in an abnormal situation...the banks are liable to be shut down for certain periods...electricity down too.


    Don't let them BS you about this.....be established long before any emergency situation...not just in monies..but other goods too.


    The banks will often flag you for taking out certain amounts...even below $5,000 and the managers often must approve the withdrawal....but it is not illegal.
    They are worried about controlling the M factor in the economy...That is why they need to know what you are doing with your monies....
    So that governments will know how much to cheat/print while they do not themselves control their M factor...but seek to control yours.
    They think no one out here knows..and they are mostly correct..


    BS is often used by Ishmaelites and with subtilty. That is how they rig the marketplace ….herding people in ignorance.

    That is also why they tend not to like preppers...….preppers tend to not want to be herded or follow the herd.

    My non Ishmaelite .02,
    Orangetom

  6. #26
    Join Date
    Apr 2016
    Posts
    4,819

    Default

    My concern is that this virus will be used as a pretext to get rid of cash and put everyone on the debit type card...cashless per se...

    Total herding.


    My non Ishmaelite .02,
    Orangetom

  7. #27
    Join Date
    Oct 2009
    Location
    East TN Smokey Mountains
    Posts
    5,221

    Default

    that's a VERY valid concern

  8. #28
    Join Date
    Jun 2013
    Location
    AZ
    Posts
    1,675

    Default

    We are years away from a cashless society.

  9. #29
    Join Date
    Apr 2016
    Posts
    4,819

    Default

    Quote Originally Posted by hiwall View Post
    We are years away from a cashless society.
    Be very careful of an attempt to go to a cashless society. Those wanting to "Herd " people and nations are in favor of this....not most people..

    Also be warned that when this is over or stabilized for an attempt to come out with a new type currency...with a time limit to turn in the old paper currency. Thus to flush all transactions and monies/people and businesses out into the open...to be herded.

    What was that and whom about not letting an emergency go to waste???


    My non Ishmaelite .02,
    Orangetom

  10. #30
    Join Date
    Jun 2013
    Location
    AZ
    Posts
    1,675

    Default

    Quote Originally Posted by orangetom1999 View Post
    Be very careful of an attempt to go to a cashless society. Those wanting to "Herd " people and nations are in favor of this....not most people..

    Also be warned that when this is over or stabilized for an attempt to come out with a new type currency...with a time limit to turn in the old paper currency. Thus to flush all transactions and monies/people and businesses out into the open...to be herded.

    What was that and whom about not letting an emergency go to waste???


    My non Ishmaelite .02,
    Orangetom
    I agree 100% that "they" want a cashless society. It would make it incredibly easy then to control the population. And they are talking about it and have been for a few years. Obviously they started that talk to gradually get us used to the term and plant the seed that going cashless would "naturally" happen at some point in the future.
    I just believe we are still two or more years away from that yet. So we are in agreement of the outcome but might disagree on the timing (which we both are just guessing at anyway).

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •