How safe is our saving accounts

[OKMinuteman]

http://beforeitsnews.com/alternativ...ositors-set-up-for-the-slaughter-2601338.html

Seems the federal appeals court Thursday determined that they would effectively make account holders into shareholders of said institutions. Consequently. if they go into duress the depositor may well not get their money back regardless of the promises of the FDIC. So, as preppers should this increase our pucker factor to 99% or should we all just stand at out bank's door and say baaaaaaaaaaaaaaaaaaa?

Inquiringly minds want to know more - or then again maybe not. What do you think?

 

[Lurker66]

If it happens, itll be fast and painfull. And if it happens, you might wanna put your BOP into effect cause that'll start the panic that will lead to chaos and dissent.

 

[onearmedman]

Nothing you have in any bank is safe. Cyprus? It could happen here.

 

[BadgeBunny]

Nothing you have in any bank is safe. Cyprus? It could happen here.

I tend to agree with you. I've been kinda skittish ever since Greece started on their descent but them wanting to take 25% off the top of all the deposits of the "wealthy folks" in Cyprus really got my attention. I think the amount was $120,000 and above, or something like that. And yes, I realize that a lot of the deposits in the Cyprus banking system are foreigners but still ...

 

[murphy j]

Nothing you have in any bank is safe. Cyprus? It could happen here.

Agreed. There's been talk of taking control of our IRA's for awhile now.

 

[Lurker66]

Agreed. There's been talk of taking control of our IRA's for awhile now.

Do it now. Its your money tho.

 

[doctorjj]

If you have any substantial amount of money in a savings account, well, I don't want to be rude but you're pretty stupid.

 

[Belthos]

Your money in the bank will never be perfectly safe. For practical purposes it's probably safe enough.
The government doesn't have to seize your money to devalue it.
They can take 25% of your purchasing power just by printing more money without having to reach into your account to take what you already have.
Inflation alone pretty much guarantee's that any money in a bank will buy less over time than it would have when you put it in.
I'd strongly advise that you diversify some of your money into real assets that either appreciate over time or invest in real estate if you have that kind of money.

Either way it's a good idea to keep some cash on hand in case of an emergency.
If there is a natural disaster for example and the power is out you will not be able to use atm's or credit cards, to buy food, motels, gasoline, etc.
Even if the store or gas station has a generator, their internet will probably be out, so plastic won't function.

If had to name something to invest in other than real estate, I'd have to say bullets. As long as you pay retail or less, I do not see much chance of them declining in value as long as you store them properly.

 

[OKMinuteman]

So if this info hits the lame stream media could we start seeing runs on banks and if so what will that do to our immediate economy and personal, state and national security. Seems to me that this could mean SHTF in a big way in out immediate future.

 

[Lurker66]

A bank run would be stopped quick. I think theres enough invested to prop the banks up and get things lined out.

I worry about my money all the time. If i could id withdraw and bury it.