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$$$$$$$$-Here's the Bottom Line....IMHO
MaxOHMS
Member Posts: 14,715
(1) If you hold a piece of paper with a promise written on it the value is based upon the integrity of the issuer and their ability to pay (Federal Reserve Note, stock, bond, annuity, 401-K,insurance policy, etc., etc.).
(2) Some of the above are backed by the Federal Government (see #1 above).
(3) It is THEIR game.
(4) We play by THEIR rules (which change frequently at their discretion, do they not?).
(5) If you have digits on a screen, you have even less.
When is endgame?
See #3 above.
(2) Some of the above are backed by the Federal Government (see #1 above).
(3) It is THEIR game.
(4) We play by THEIR rules (which change frequently at their discretion, do they not?).
(5) If you have digits on a screen, you have even less.
When is endgame?
See #3 above.
Comments
You lose!
You figured it out.
Perhaps you will win, then.
I think they did that back in the day before coins...
you rich guys can do it with gold [:D]
endgame has been reported to be as early as 2015.
Your putting faith in paper. Try tangible assets.
I don't understand # 5
endgame has been reported to be as early as 2015.
Your putting faith in paper. Try tangible assets.
I'm canning some right now:
organic, non-gmo corn
rice
hard red winter wheat
popcorn
.22 LR [:D]
spices
The last 3 paychecks, I have purchased:
durable work clothes, socks, and other cotton items (don't want to get Dano all excited!) for the whole family
The program of putting $ in savings for the future stopped in it's tracks months ago.
Added several tangible (and durable) Wingmasters to the herd also. [;)]
this is what gets me with people who are now buying gold, someone else is holding it and all they have is a piece of paper saying they own so many ounces of gold. What good is the paper when the time comes????????[V][V]
As with so many other promises that will soon come to light as being lies, folks holding "certificates" are in for a rude awakening.
Letter Re: A Bank Run Reality Check
By James Wesley, Rawles on February 25, 2011 7:50 PM
James Wesley,
I have been trying to take the blinders off my wife's family. While they are not ready to don tin foil hats with me yet, they definitely don't think I am quite as eccentric as I was before. A failing economy can do that for people. I did have an interesting conversation with my Sister-in-Law though concerning banking. She is a branch manager of a bank; a very large banking institution. I don't want to say the name, but as of 20 minutes ago, they have over 24,000 branches and ATM locations around the world. I asked her a couple of questions. What is the average amount in a savings account in her bank? And how much money does the bank have on hand on a given day?
The numbers shouldn't have surprised me, but they did. The average amount in a savings account is about $1,200, but she said the numbers are really skewed as there are a few accounts that have lots, but most only have enough to keep the account open. She said that most just keep the account open so they have a place to cash their checks. The more shocking answer, was the total amount of cash on hand [for all of the tellers]. She said that the average that she keeps on hand is $16,500 in paper, and about $2,000 in coins. She said that twice a month they would double the cash on hand to accommodate pay cycles. So the most that this bank will ever have available is about $35,000.
Given that people with money have their pulse on the economy, they will know when it is time to pull their money out. If just one or two were to show up at my Sister-in-Law's bank to cash out. That's it. In less than two minutes her bank will be empty of paper cash funds. Sure, she can call in and have a truck bring more in. But if every bank is in a similar situation, will any banking institution, no matter how big, be able to keep up with demand? The answer is no! I am sure that there are bigger banks with more money in the metropolitan areas, but there are also more people and that creates more risk of pandemonium when the coffers dry up.
The short answer is: Keep a good balance or options with your wealth. Have cash, silver, ammo, food, etc. You will not be able to pay your house payment in 7.62 Ball just yet, but when/if that time does come, I doubt the bank will be asking for a payment anyway. If nothing else having physical wealth (tangibles) that is at your house/retreat/cache/safety deposit box, whatever, is going to be more important that the 3% interest that you might be getting at the bank.
If, God forbid, something should happen to you and your assets are in the bank, when you die the State and Federal Government will take a very large portion of that "already been taxed" money and "allow" your heirs to have the rest. But if it is in silver/gold/ammo/guns/other tangibles, then it just changes hands. Thanks, - A.K.J. in North Carolina
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