[Heineken]

Do not leave large quantities of cash in your bank account (checking and savings). Pull out most of it, leaving just enough to handle your monthly affairs.

In a worst case scenario, which is becoming more likely, you will not be able to get your money out of the bank. Also, FDIC won't be able to cover more than a fraction of depositors.

Do it if you haven't. Do it now, before the banks close for the long, dangerous weekend.

This is the real thing, friends. I'm convinced.

Heine

[Jotapay]

Banks aren't required to keep reserves. It's a little different now. They just tell you that they don't have any money, come back next week.

[Jotapay]

I've been doing this for about 2 months. I only keep a nominal amount in the bank, about $250 or so.

[Cid_Yama]

A wise precaution. A Bank Holiday is not out of the question. Do you have enough on hand to survive a week without ATMs and no one willing to take a check?

[Arsenal]

Ditto. I have pulled just about everything out except for the most immediate bills. We will see what Tuesday holds.

[IndigoMoon]

Me too- pulled it out. My paycheck is direct deposit on Wednesday. I'll be amazed if I get it.

[Zardoz]

Hmm, I can't log into my regional bank's online system. It just gives "system is not available" message.

Oh, shit.

Really, Shanny? This just can't be good...

[startswithearthquakes]

What about Randolph Brooks Federal Credit Union (RBFCU) in San Antonio?

[Dreamtwister]

I guess this is what they mean when they say "October surprise".

[Pops]

Heinie, it surprises me you would advise people to help take down their bank.

Really folks, a couple three weeks of cash is a good idea but to help your bank over the edge don't seem wise.

If the full faith blah blah which backs up the FDIC ain't there then what do you think your paper is worth?

You people need to get a grip. Get out a few bucks to get yourself some things to make it through a few weeks and a little cash to stick in the cookie jar but don't contribute to the problem.

More get killed in the stampede than from what they are running from.

[Jotapay]

Heinie, it surprises me you would advise people to help take down their bank.
Really folks, a couple three weeks of cash is a good idea but to help your bank over the edge don't seem wise.
If the full faith blah blah which backs up the FDIC ain't there then what do you think your paper is worth?
You people need to get a grip. Get out a few bucks to get yourself some things to make it through a few weeks and a little cash to stick in the cookie jar but don't contribute to the problem.
More get killed in the stampede than from what they are running from.

That's like telling someone to keep your money in the stock market right now. Those who panic first have a better chance to survive.

[ritter]

What happened to your good feeling, Heineken?

I've got some cash on hand. If it gets to where the banks fail and your money dissipates, it won't matter if you've got thousands stuffed in your mattress. If things get to that point, it will be about survival on a daily basis, not about exchanging cash for goods. Best of luck to all and here's hoping for some more good years.

[green_achers]

I think Pops is right, this sounds like a self-fulfilling prophesy. But fulfillitude is still fulfillitude. Maybe I'll get out a few more bucks just in case.

Anyone know if "bank holiday" means I won't be able to get to my safe deposit box?

[Pops]

The whole economic system is melting down.

Hogwash.

I'm not gonna bet we won't see big troubles but my point is those who've been reading here for years and have not changed their way of life can't expect to save themselves by simply stuffing their mattress.

The only benefit from yelling Fire is to encourage everyone else to trample each other getting to the exit while one stays put.


I'd be very wary of following the suggestions of those in a panic.

[Heineken]

What happened to your good feeling, Heineken?

I've got some cash on hand. If it gets to where the banks fail and your money dissipates, it won't matter if you've got thousands stuffed in your mattress. If things get to that point, it will be about survival on a daily basis, not about exchanging cash for goods. Best of luck to all and here's hoping for some more good years.

I carefully explained that my good feeling was flighty, ritter. It comes and goes but overall it's getting dragged down.

I think it's hard for any of us, including most especially me, to grasp how bad this is. Real estate is going to fall MUCH FARTHER and there will be a new wave of foreclosures.

[Dreamtwister]

my safe deposit box

They're so cute when they're young...so innocent...so trusting...

[HEADER_RACK]

Heinie, it surprises me you would advise people to help take down their bank.

Really folks, a couple three weeks of cash is a good idea but to help your bank over the edge don't seem wise.

If the full faith blah blah which backs up the FDIC ain't there then what do you think your paper is worth?

You people need to get a grip. Get out a few bucks to get yourself some things to make it through a few weeks and a little cash to stick in the cookie jar but don't contribute to the problem.

More get killed in the stampede than from what they are running from.

POPS!! You Sadistic Fuuker You!!! and all this time I thought you had no sense of humor.

[dunewalker]

I'd be very wary of following the suggestions of those in a panic.

I'd be very wary of following the suggestions of those seemingly unable to adjust to today's reality. This is the number one requirement for future survival--ability to adjust to the day's reality and react, quickly. That's how it used to be and is again. Complacency is not the theme of the day, nor of the future.