Topic: How long should we wait?

[oldcoastie6468]

Assuming that the communist in chief will continue taking down this country, for how long will we wait until we take our cash out of banks? And what will be the trigger to do that?

Or am I just a conspiracy freak?

[Pandora]

I don't think you're a conspiracy freak; I've been worrying over the same thing.  Take it out and then do what? with it?  Mattress?  Safe?  Some advise investing in bullets, beans, bandaids; hard assets.  Time, time, time.

Then, there are the "authoritahs" to consider, when they realize you've got a sum of cash in your home.  Raids?  Money laundering accusations?  The banks notify the Feds when a certain level of cash is withdrawn; avoid that by withdrawing just a little less and risk having to defend against a charge of doing just that -- apparently, that's illegal as well.

Argh.

[Weisshaupt]

Assuming that the communist in chief will continue taking down this country, for how long will we wait until we take our cash out of banks? And what will be the trigger to do that?

Or am I just a conspiracy freak?

Ask Celente. He already had money stolen.  Go to the bank and take out $2000 and see what happens.
If its not in your pocket, its not yours.

I personally have spent the vast majority of my 401K/IRA  money, and stopped contributing to any retirement plan 5 years ago.  Most of that money went to Prep.  I bought a place in the mountains with cash - built a garage, greenhouse and put in a PV solar system.  Sold my House in the burbs and bought a small farm. Bought ATVs, a tractor and wwe are in the process of buying more implements.  We bought dried food and started a large canned pantry.  I bought firearms ( for the first time in my life) and ammo.  There are lots of places to use your money and keep it.  If you have so much extra you by gold and silver and take possession  of it - but really the beans and bullets ( or means to proiduce same) will be more valuable in the long run than the bullion.

The bank offers only convenience  as a service at this point. The Stock market is rigged by HFTs, the Bond Markets are insane, offering returns below inflation, and there are few investments that can keep up with it, and even fewer that wilkl continue to do so.
 You can not longer grow your money, or save.  You might as well buy the stuff you need to survive when it all goes.





 

[Weisshaupt]

Then, there are the "authoritahs" to consider, when they realize you've got a sum of cash in your home. 

My Bullion  and Bullets were lost in a boating accident. We ate the beans.

If the  "authoritahs" want you, they will get you. If its under a pretense of something you actually did, then fine. If they have to make it up and plant evidence ,well that is fine too.You participate here. They know about you already. Bought Levin's book with a credit card on Amazon, yeah they know that to. Bought a gun with a NICS check, yeah they know that too. No sense in trying to keep off of lists, you are already on one.  Anything you do now can only move you up and down in priority.

Stuff is only yours if you can fire a gun at the person trying to take it. They will go after the stuff that isn't so guarded first. . like your bank account.

Don't discuss you plans with anyone but close friends.  Bullion is the last thing you buy. because its the most attractive  target while things are good  and has the least amount of practicality when things are bad. .

Its not illegal to withdraw cash - for the moment...  The worry here is that they call a bank holiday and simply take your cash out of the account as a "one time only" tax as they did in Cypress. Or simply devalue the money while the banks are closed as they did in Argentina.

Obamacare gives them the right to go into your bank account and take cash.  You think they won't use it to collect penalties?  The end game here is leave it in an loose it, take it how and help them speed the collapse ( which TPTB want because a crisis is how they gain control) They still are faking the books. Every $1 you take out - removes $10-20 from the banking system because fo the fractional reserve requirements.  The fed will just print some more and loan it to the too big to fail bank to keep it solvent.
Ann Barnhardt does a wonderful job of explain it even if she has crazy eyes and may be insane.
THEY WILL CONFISCATE THE MONEY IN THE BANKS. The question is when. There are so many Black Swan events that could cause a run.. and the Chase capital controls on accounts, the extra money going into the ATMS and a number of other things are making next month plausible.   Celente is calling it next year.

[Libertas]

Assuming that the communist in chief will continue taking down this country, for how long will we wait until we take our cash out of banks? And what will be the trigger to do that?

Or am I just a conspiracy freak?

Ask Celente. He already had money stolen.  Go to the bank and take out $2000 and see what happens.
If its not in your pocket, its not yours.

I personally have spent the vast majority of my 401K/IRA  money, and stopped contributing to any retirement plan 5 years ago.  Most of that money went to Prep.  I bought a place in the mountains with cash - built a garage, greenhouse and put in a PV solar system.  Sold my House in the burbs and bought a small farm. Bought ATVs, a tractor and wwe are in the process of buying more implements.  We bought dried food and started a large canned pantry.  I bought firearms ( for the first time in my life) and ammo.  There are lots of places to use your money and keep it.  If you have so much extra you by gold and silver and take possession  of it - but really the beans and bullets ( or means to proiduce same) will be more valuable in the long run than the bullion.

The bank offers only convenience  as a service at this point. The Stock market is rigged by HFTs, the Bond Markets are insane, offering returns below inflation, and there are few investments that can keep up with it, and even fewer that wilkl continue to do so.
 You can not longer grow your money, or save.  You might as well buy the stuff you need to survive when it all goes.

Agreed.

Right now people should have some walking around fiat ($1-2k) that you can use to buy gas, food, whatever...this is mainly for short-term shocks or the intial stage of a catastrophic cascading type event (which I think a lot of us expect)...everything else should be in preps and your BOL.

As for flags to look for, there are several...but I think PM prices will be one of the primary ones and it will really be going nuclear once the realization that any available physical inventory has disappeared...that and currencies going nuts...when our fiat starts a terminal slide the time for using it will have passed.

And I agree 2014 looks squirrely on a number of fronts...especially between March and into the end of the year.

[Septugenarian]

Money, then, is not property in the constitutional sense, eh!

[Libertas]

What property is respected anymore?  The ultimate law is what you hold and can keep by any means necessary is for that time...yours.

[Glock32]

Beans, bullets, bullion, and bottles.

Bottles of antibiotics. Bottles of liquor, especially neutral grain spirits like vodka or Everclear. They have antiseptic value, and even better trade value. As for the antibiotics, get them from animal supply houses. Before antibiotics a simple cut on your arm could end up killing you. An abscess tooth could be fatal. A few bottles of amoxicillin are cheap insurance.

[oldcoastie6468]

I don't think you're a conspiracy freak; I've been worrying over the same thing.  Take it out and then do what? with it?  Mattress?  Safe?  Some advise investing in bullets, beans, bandaids; hard assets.  Time, time, time.

Then, there are the "authoritahs" to consider, when they realize you've got a sum of cash in your home.  Raids?  Money laundering accusations?  The banks notify the Feds when a certain level of cash is withdrawn; avoid that by withdrawing just a little less and risk having to defend against a charge of doing just that -- apparently, that's illegal as well.

Argh.

We have two safes in our house. The combinations were lost in a boating accident.

What do or did you do about the autopays, like the gas and electric companies and credit cards?

[Pandora]

I don't do autopay.  There's nothing on my computer that, should it be hacked, would concern me greatly.

[Libertas]

Bills?  Won't pay no stinkin' bills!

[ToddF]

Spread it around is all you can do.  I have stocks, I have bonds, I even now have money overseas.  A little here, a little there.  My stocks are funds, as I don't trust any individual company, anymore, my bonds are TIPS, to protect against the inevitable inflation. My home is paid, my car is paid.  A little gold here, a little silver there.

I fully expect to lose some of this at some time.  I'm playing to have a retirement, hopefully early.  At 55 I can pull out and go elsewhere.  I'm just hoping it all holds together until then.

[Weisshaupt]

Spread it around is all you can do.  I have stocks, I have bonds, I even now have money overseas.  A little here, a little there.  My stocks are funds, as I don't trust any individual company, anymore, my bonds are TIPS, to protect against the inevitable inflation. My home is paid, my car is paid.  A little gold here, a little silver there.

I fully expect to lose some of this at some time.  I'm playing to have a retirement, hopefully early.  At 55 I can pull out and go elsewhere.  I'm just hoping it all holds together until then.

Gambler eh? That is all Stocks and Bonds are now.. its like going to Vegas., but with worse odds. Hope it plays out..  The Stock Market will probably continue to be propped up. .its too big to fail.  However, if problems really arise, I expect them to make selling stocks and bonds especially difficult - with confiscatory taxes of 75% or more on earnings, and no way to move money out of the country without paying yet another tax.  I hope it pans out for you, but that's a big gamble.. 

[ToddF]

They're also shares in companies.  Companies don't go away due to hyperinflation.  People's traditional savings do. 

[Libertas]

They're also shares in companies.  Companies don't go away due to hyperinflation.  People's traditional savings do.

True, but when things get really fugly they just seize companies.

The only real ownership is what you hold with your hands...everything else has more risk.  But you got a couple things that will probably be seized last...hope you make it...hope we all make it!

[ToddF]

No matter what you have, it they come back with a wealth tax, like some are now starting to agitate for, you're kind of screwed no matter what you have...in country that is.   

That's why I think any diversification, now, is getting some money into another stable economy, that doesn't have the debt problem the west has.

[Weisshaupt]

They're also shares in companies.  Companies don't go away due to hyperinflation.  People's traditional savings do.

Well, no. Hyperinflation makes it impossible for companies to do business or for anyone to buy their stuff. And at some point they close shop because of it.

[ToddF]

The companies are diversifed all over the world, now.  One banana republic in North America isn't enough to make most go under.

[Libertas]

Once the global ponzi scheme ends and all fiat turns to dust I am not sure if there will be a stable economy per se, but as China has been buying physical gold like crazy (Helicopter Ben gets a lot of thank you baskets from Beijing I bet!) they might win by default...pretty sure I don't want to live there...

[Weisshaupt]

The companies are diversifed all over the world, now.  One banana republic in North America isn't enough to make most go under.

One Banana Republic in North America is responsible for 1/4 of world GDP.  Know of any businesses that can easily take a hit to 1/4 of their revenue if these businesses are distributed roughly by GDP?  If they are North American centric it will be even worse.
Economies all over the world - especially in the worlds largest market, have huge dollar reserves - and use the dollar as the medium of exchange. When the dollar goes, how much will they be purchasing? The effect will be global, and one banana republic with the reserve currency int North America might very well take down a international or two.  Its a cascadeing failure that will reach well beyond our borders.