What would you do if the banks shut down for a week?

[Bigcypresshunter]

Banks are in trouble. They are now taking advantage of every opportunity to charge you a fee.

 

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[Seamuss]

You have a bank account...with money in it? They charge you a fee for this money or a lack of money in the account?

Do you trust banks?

 

[goldseeker1982]

If the banks closed many people may loose totally confidence in our monetary system. The greenbacks you save may have no value to a merchant depending on the situation. I would look to other methods of payment.

This scenario is more likely for a long term close down.

 

[mojjax]

Not worry so much if only for a week. We have been through the ice storm up here in Maine. Three weeks without power. (And, yes I hated it.) I do like having cash but it does go quickly. We have a nice home with good neighbors. We are trying to survive. In 2005, I almost died. 3 weeks in the hospital, no insurance. I pay the medical bills monthly and they did treat me. I live from paycheck to paycheck now. I love my house. I love that I have so much. But I do know that I can live with a lot less. Do I want to, hell, no. You need supplies, you need a plan. Our ancestors did it. Make sure you have WATER. Money is Money. Study Survival Stuff.

Mrs. mojjax

 

[mojjax]

Just Love being ignored. Sad I ruined it. I get the picture. It was such a good post. :

 

[Old Dog]

Sure nice to see how Barry O's hope and change is working for everyone

LOL

 

[RGINN]

I put my spare financial resources in my pocket. Not the one I carry my gun in, though.

 

[nova treasure]

I'd stock up on batteries (for da MD) and make sure my utilities were paid. That's about it.

With batteries I can pay for gas and food

I seen this was and older post, but I still would like to say that Vibes reply was cool, You go Girl.

Nova Treasure

 

[pygmy]

Remove your money from a bank and put it into a credit union.
There is a far less chance of it being stolen(not by the Gov. but by the greed of bank administrators)

 

[greydigger]

Remove your money from a bank and put it into a credit union.
There is a far less chance of it being stolen(not by the Gov. but by the greed of bank administrators)

Whoa !
What happened ti FDIC ?

Grey

 

[Seamuss]

Remove your money from a bank and put it into a credit union.
There is a far less chance of it being stolen(not by the Gov. but by the greed of bank administrators)

Whoa !
What happened to FDIC ?

Grey

Its under the name of bailout now.

 

[homefires]

I've been Unemployed for the past 10 months.

I don't have any money!

Barter, Trade , Gold and Silver.

 

[Seamuss]

Barter, Trade , Gold and Silver.

That works for me.

 

[photopro]

Yes, Definitely pull your money from the banks(That were bailed out) and put it in a credit union. STARVE THE BEAST!
Nine more banks were taken over yesterday by the FDIC and they are already broke. Of course the .gov will just print more money!
About the FDIC insurance, yes up to $250K per account is covered(currently) but how long it takes to get your money back is up to them, by statute they have up to 99 years to pay it back. Usually people get they're money with in a week or two but with the present state of our financial system and if enough failures occur at the same time, well who knows.
These are definitely scary times we live in my friends, I hope everyone is preparing accordingly.

 

[Excavator]

I would hunker down, in between survival work.

I've read about economic collapse in other countries, where the cash was lying in the gutters and floating in the surf, too worthless to pick up. I'll never dismiss the value of precious metals.

I know a bank manager, he says there's never enough in his vault to cover everybody.

Want to worry a little more? Read this link:
http://media.einnews.com/article.php?pid=73800

Pound Could Collapse Within Weeks, Predicts Billionaire Financier Jim Rogers

Thursday, Feb 25, 2010 - The UK Pound is on the brink of a collapse which will herald a downturn worse than 2008/9, it could well happen within weeks and the British government is powerless to prevent it. And this in turn will foreshadow a global economic winter that could come before the end of 2010 and make the last two years seem like a mild spring day. ... (snip)
...

...Marc Faber, who won his moniker 'Dr Doom' after advising investors to pull out of American stocks one week before the 1987 crash, and who was one of only a few vocal investors to predict the present troubles, believes that America is on the brink of bankruptcy as it is wholly unable to service its debt***. But, like Rogers, he sees foreknowledge as an opportunity, not just a threat. .... (snip)

 

[greydigger]

Another thought.
If a bank was shut down for a week, someone would have lots of time to tunnel in and steal all those pens that don't work. Maybe even some carpet to use in a sluice box?

 

[DanB]

well I guess as long as I have my gold pan....I will all ways be able to work.....and if I need to defend my self....no problem,,,I know I will not go hungry.....who needs the banks any ways....IN GOLD WE TRUST....

db

 

[mascallw119]

That is a very good question. I remember my dad always saying to always make sure you have cash on hand at home in case of emergencies. Today less people walk around with cash because of debit cards, credit cards, etc. Personally, I think it a good idea, if possible, to have a month's expenses in cash on hand at home. I know it sounds a bit high but what I am thinking about is when Hurricane Andrew hit Florida and people needed cash on hand until services were available again. Then the other issue is if the bank you have your money in solvent. Here are some 800 numbers you may find helpful:

if your money is in:

Type: Federal Savings & Loans and Federal Savings Banks
under regulations of the Office of Thrift Supervision (1-800-842-6929)
Type: Banks with names ending in "National or NA"
under regulations of the Office of Comptroller of the Currency (1-800-613-6743)
Type: Federally Chartered Credit Unions (1-800-827-9650)

 

[fistfulladirt]

No bank, no savings, enough to get by for a week, How the H--- are you people going to make it through retirement?