Author Topic: Prepare now for the coming bank runs  (Read 653 times)

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Offline Sentinel For Truth

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Prepare now for the coming bank runs
« on: January 21, 2009, 04:13:17 AM »
The biggest banks in the US are teetering on the verge of collapse and their stock valuations are dropping like stones.  Government interventions aren't bolstering confidence at all.  There's an old saying for times like this:  "There's no rush like a gold rush, and no run like a bank run." 

Prepare now for the coming bank "holidays", a euphemism for not being able to get your money out of the bank.  I'd expect this to happen within weeks.

Have enough cash on hand for a couple of weeks or so to meet basic expenses.  Banks aren't paying interest anyway so it doesn't matter whether it's under your floorboards or in a bank account.  The only difference is that you can't spend money you can't get to, so be wise and prepare now.  Also go through the pantry and throw out any canned goods that are at or near their expiration dates and then go to the store and stock up on new ones. 

Be prepared.  It's better have it and not need it than to need it and not have it.