Originally posted by ThePowerOfOne
What does this means? Does it means that we need to go to the bank and get all our money out? Or is this just for the investor?
Sorry...but I don't quite get this
What do we do?!
What do we do? Hold on to our butts. Be prepared.
It's not a bad idea to have enough cash on hand to last a couple days. At this point, if you rely on credit cards, you need to IMMEDIATELY change
the way you live. If your bills and necessary purchases cannot be managed by your paycheck, it's time to kill the cable TV/internet/etc.
Have a few days' worth of nonperishable food on hand - three months' worth is better, but a few days is better than nothing. If your local grocery
store has trouble filling its shelves, you'll be glad to have a stash at home.
Keep your car filled with gas at all times. If gas stations cannot pay for gas shipments, you'll be hard pressed to find fuel.
If your bank fails (and I think few banks are immune to this possibility), it may be a day or three before FDIC insurance kicks in and your deposits
become available. For this reason, have some cash on hand.
No, this isn't just for investors. This is for everyone.