What should I do with my money in my bank?

Spend it while it is still worth something!

No. really! When the inflation comes it may
only purchase half or less than what it does
now.

Why do you think all the millionaires have
recently become multi-millionaires? Did you
think they were going yo lose money for
going along with the program? Right!

Spend it while it is still worth something!

No. really! When the inflation comes it may
only purchase half or less than what it does
now.

Why do you think all the millionaires have
recently become multi-millionaires? Did you
think they were going yo lose money for
going along with the program? Right!

Spend it while it is still worth something!

No. really! When the inflation comes it may
only purchase half or less than what it does
now.

Why do you think all the millionaires have
recently become multi-millionaires? Did you
think they were going to lose money for
going along with the program? Right!

[edit on 22-4-2009 by AlternateEnding]

Double post. What?

[edit on 22-4-2009 by AlternateEnding]

Thank you for all the great advices and replies!

Gosh I was thinking of just withdrawing all money from my bank and keep it in a safe at home but now I'm thinking of buying a lot of canned goods and water like some of you suggested. But then again I feel kinda being paranoid. I mean what if nothing happens, then I'll have a bunch of canned food and water sitting around in my home. I would like to get a gun but how long does all the paper work and registration take? I hope before anything happens if I apply now. I guess better to be safe than to be sorry... right?

Oh I forgot to ask, how about other countries? What would happen to the economy of theirs? Would it become equally as bad as America when something does happens to our banks??

reply to post by balon0


If you're going to get a gun strictly for home defense and small game, buy a 12 guage shotgun. No registration. Cheap, easily (for now) obtained ammo, reliable, and easy to become relatively proficient.

Look at it this way: The money is sitting in the bank right now, earning pitiful interest. The return isn't going to get better any time soon, agreed?

Take a portion of that, and buy the aforementioned supplies. Regardless, you'll make use of them. Think of it as "TSHTF" insurance!

oh wow I didn't know that you do not need to register to own a 12 Gauge Shotgun. I have no idea about guns, can you recommend which one I should get? Also where can I find a place where I can practice shooting too or learn how to use one? Thanks~~!!



Actually I did some searching here on ATS and found the following suggested shotguns

Remington 870 max 12 gauge
Mossberg model 500 with the 18 1/2" barrel

Mossberg 590 12 ga. pump shotgun
with
Knoxx SpecOps recoil reducing adjustable stock

[edit on 22-4-2009 by balon0]

reply to post by balon0

I recommend to everyone a Mossberg 500 series. It's about as reliable and simple as they come. I carried a 590 military model in Mogadishu, and it served me very well. I own one now, as well as a 500 mariner.

Go find a fish and game or gun club, and start practicing. You may even get into clay birds like I did, and shoot once a week.

At worst, you've got a new hobby... I will warn you though, my wife has gotten VERY good with the 500, and is quite competitive... Fair warning.

Yeah, saw your edit here... the 870 is a pretty basic gun too, very reliable... I'm personally just partial to Mossberg. I'd skip the fancy 590... It's your first firearm. KISS=Keep It Simple Stupid. (no offense, just was drilled into my head as a kid).

EDIT: added last paragraph


[edit on 22/4/09 by cbianchi513]

If it is all going to end up worthless anyways, go and buy some stocks with the money. At least if things don't collapse you will likely end up with signifcant earnings over the next few years. Checkout your local utility as well. Their bonds/preferred stock will pay a high rate of interest and the goverment lets them raise rates to avoid losses, so there is little chance of default. Stocks are an asset. Asset prices rise with hyperinflation, if that your worry.

Forget about gold is right. Gold and guns... you'd be lucky to get your money back out of them.

Hang on to your 20K cash and add more as you have extra left over from your paychecks. Sounds like you are a saver, right? Living within your means, right? Good for you!

When Summer Solstice rolls around put it all into the stock market. Whoa! Scary!! How do I do it????

Don't worry about picking individual stocks, just buy $20K worth of stock symbol DIA, the Dow Diamonds. That will put you in on a dip and then you will see the Dow Jones Industrial Average climb and your money will grow faster than Money Market accounts or a CD or a Government Bond.

Don't have a broker? Open an account today and be ready for the buy-in just before the Summer Solstice. You've already missed the royal opportunity in March. You'll get another chance in June.

reply to post by balon0



I would say that you should give serious consideration to buyinga safe, and keeping a fair amount of money in it. As redhatty said

You may not be earning justafiable interest. No need to let the bank make money off of you...

And as far as gold goes, IMHO buy some on the shiny stuff not paper. Not a lot, but some, that way when it shoots up you can sell it and make a profit.

Buy food that will keep for 2 plus years, and buy it on sale now....furthering your investment power.


[edit on 23-4-2009 by burntheships]

[edit on 23-4-2009 by burntheships]

Something to think about, in the SF Bay area a couple of weeks ago someone had cut fiber cables which knocked out electronic transactions for a county-sized area. Stores and gas stations only accepted cash (credit cards, debit cards, and ATMs were down). Even though the FDIC guarantees up to $250K in your bank, it does no good if you can't get to it. That is, if you trust the solvency of the FDIC.

[edit on 25-4-2009 by Dbriefed]

I know the whole situation is crazy and where or what to do with your money is risky any way you cut it. But whatever you decide take it out in sums less than 5000. I work at a bank and any time a person puts in or takes out 5000 cash and over we have to file a form with the fed. We've had quite a few unhappy customers when they learn of this, but it true and they are watching what you do with your money. Some people do not wish to provide their ID or answer the questions, but it really doesn't matter bc all the information can be attained through the forms you filled out to open the account, but when they refuse we have to fill out a secondary for suspiscious activity. Oh, to clarify its 5000 during a 24 hrs period, but I would suggest weekly withdrawls to draw less attention.

[edit on 3-5-2009 by searching4truth]