Help me out here gents. Im on the side of feeling there is a huge collapse heading our way. Been hearing alot about banks being prepared to use bail ins to help themselves stay afloat. Bail ins should be illegal, but our wanderful gov made it legal after the 2008 crash. The banks now how the authority to take the depositors money (our money) and use it to try and advoid bankruptcy. Anyome following this? Anyone hearing the cries of this alot more lately? I sure as chit am and thinking it may be time to start shuffling cash out of the banks. Thoughts?

where are you getting your intell?.....bob

The government will one day seize all of our retirement accounts and try to redistribute them. As for the banks nows a good time to not keep all of your assets in one.

My inlaws are pretty confident because they have a bunch of cash in one retirement account at 1 Bank. They tell me I have too much stuff like guns and ammo, gold and silver, and other hard assets like a rental home. They have nothing of value except that 1 account. Even their furniture is all old and his trucks like a 98 2 wheel drive. They couldn't raise $5000 selling off all their assests other than the 1 account combined.

Even our retirement accounts are spread out over 4 different banks. Not a bad time to be diversified. I think q2 2023 could get rough. Doesn't hurt to keep a little cash stashed somewhere either.

Bb

Banks, mortgage companies, title agencies, realtors are all going to be hurting. I’m always amazed at how many are too young and didn’t experience 2008 and have no idea about the lessons we learned from it.
50% always seem to forget to save and prepare for bad times during the good times.

The Dodd-Frank Act?

Exactly what we have been doing. Trying to have actual goods that are worth money. We stash away cash too, but have moved a decent amount in to goods. Everything is pointing to one hell of a mess coming our way. Dont think its avoidable

If 2008 didn't learn you anything about banks then.......

I am of the paranoid type when it comes to banks after living in California during the 2008 collapse and was restricted on how much of my money I could withdrawal from the bank.

Once this talk of a recession started anew, I withdrew the largest majority of my money and put it in safer places....

The government will just make your retirement account worthless.

Agreed and ive done the same

It’s times like these I’m glad I have no monetary value.

Inflation is a tax.

The inflation tax is hard to evade especially if it goes on long enough.

It is my observation government policies and the federal reserve have more to do with banking than the banks themselves. The banks are ones we deal with on a regular basis so I understand the reluctance to trust banks. The recession in 2008 was completely the fault of government policies implemented by bill clinton. We bank at a credit union but I don’t know that they are much different.
I am not defending the banks and I agree they won’t hesitate to take advantage of their depositors if government allows them to do so.

I only keep enough money in there for the bills I plan to pay that month, and then just a bit more. And I quit using banks, properly speaking, and switched to a credit union, after the bank started fining me each month for not keeping $1,500.00 or more in the account at all times, i.e., you'd get the fine if it ever dropped below that amount in the month.

Indeed, and it hits the poor, and those on fixed incomes, the hardest. And it's hidden, so folks don't even know it's happening. Instead, they blame the "greedy retailers" for raising their prices.

Most people don't understand when you deposit your money into a bank you are giving them an unsecured loan... poof gone... ooop's

Not looking for coordinates or at what depth to dig... but care to share what you chose as shelter?

Correct.

This is going to happen. We just don't know when. We currently have unprecedented debt and the reset is coming...they have told us (just like they always seem to).

Ask yourself how much you can lose and leave that in the bank.

Or, act like everything will be fine and do nothing. Your choice!

Best case scenario might be your currency gets turned into CBDC.

Study up on that and then ask yourself if it sounds like liberty!