reply to post by Mabus
in the not too distant future (say summer 2008) several banking
chains will be going bankrupt,
the 1st indication will be when your ATM connection to your own money
(aka FRN) is constantly disrupted, and then severely limited to say $50. per day,
This will be your/my 1st indication that a 'Run' on the bank is imminent.
The bank's demise will be even more apparent when you've got $10k in savings, that the bank will not transfer into your checking/debit card
account.... just so the bank will have their required ~10% in reserve monies available....and you are technically holding the bag
So, for the immediate & short term plan, i intend to keep the equivelent of +2 months of what it takes for all my regular living costs -
in Cash/folding money, with 90% in $5-&-$20's & some in old silver coins.
long term, i don't know, i'll just have to think on my feet and adjust to circumstances as they change,
but, without telling too much, i had a chance to shop at Sam's
and i did my first of many stocking up on canned goods runs,
i only procured $85 of cases of products, but now that i've seen what's there---and what i'd think is worth stocking up on, i'm making lists
and hopefully shop a few more times before the food prices start skyrocketing at the bulk stores as they are at the local grocery now.
another grand will keep the pantry full and set the stage for canned good cycling for a continuing & ongoing series of 6 month periods.
[edit on 28-2-2008 by St Udio]