Survivalblog.com suggesting folks draw down their bank accounts

By far one of the biggest survival blogs is saying the poop is about to hit the fan.

As of today, Wednesday, June 13, 2012, I strongly urge all SurvivalBlog readers to immediately draw down their checking accounts and liquidate their CDs, passbook savings accounts, and most of the their stocks to buy tangibles.

www.survivalblog.com...

If James Wesley Rawles is freaked out enough to post this something major is going to be happening. With as many followers that he has if he was wrong it would look really bad.

Strangely I was already planning on going out this weekend to pick up a few essentials. Looks like I might be spending a bit more than I had planned.

reply to post by Cybermerc


Wow, I am absolutely floored this Survival blog has so blatantly said we should take our money out. And furthermore, I am now scared crapless. Seriously.

Those seeking more information about this topic I have a thread same topic, different subject.
Italian bank accounts frozen for up to a month.

Probably so you can go buy gold or silver from his advertisers.

go ahead and buy physical silver. (But don't neglect investing in those crucial "Beans, Bullets and Band-Aids" first.) With spot silver presently under $28.70, this is an ideal time to get out of paper and into tangibles.

Originally posted by Ameilia
reply to post by Cybermerc

 

Wow, I am absolutely floored this Survival blog has so blatantly said we should take our money out. And furthermore, I am now scared crapless. Seriously.

Those seeking more information about this topic I have a thread same topic, different subject.
Italian bank accounts frozen for up to a month.

I usually take what I read on most sites like his with a grain of salt. But for him to just come right out and say to spend all you can and more on supplies really freaked me out.

I'm not going to go too crazy buying supplies, but I am going to fill in some of the holes in what I already have.

reply to post by Cybermerc


Dear Cybermerc,

They had bank runs during the depression, they only make things worse than they would be otherwise. Bank runs cause hyperinflation and any cash you got out today would be valueless tomorrow. Bank runs also take out banks that are not in danger of anything. If people take all their money out of the banks today, they will be paying it in taxes tomorrow because we, the taxpayer insure the banks. Banks lend at a ten to one ration, for every dollar deposited, they loan out ten. When they cannot pay the depositors immediately, they call in the loans they have made. If you think the foreclosure issue is a problem today, a bank run will be 100 times worse.

If you have significant assets it may be unwise to take everything out. But it is a good idea to take out enough to get yourself as off the grid as possible if you have the means. If you are living off interest, then take out enough to hedge your bets. If what you have is only a few thousand or less, then it may be good to take that out of the bank, but to liquidate all your cash is not a good idea. The greatest doom of all to invest fully in doom and then doom never comes. Then you may be doomed.

And remember, in a real SHTF situation fire and water will be the new gold and silver. The latter two will be next to worthless.

Originally posted by Cybermerc

Originally posted by Ameilia
reply to post by Cybermerc

 

Wow, I am absolutely floored this Survival blog has so blatantly said we should take our money out. And furthermore, I am now scared crapless. Seriously.

Those seeking more information about this topic I have a thread same topic, different subject.
Italian bank accounts frozen for up to a month.

I usually take what I read on most sites like his with a grain of salt. But for him to just come right out and say to spend all you can and more on supplies really freaked me out.

I'm not going to go too crazy buying supplies, but I am going to fill in some of the holes in what I already have.

Yes, I know exactly what you mean. And this topic is something I have been personally struggling with. As always, we do have a small food supply in the house, not a large one like you see on Doomsday Preppers. More and more I've been thinking maybe I should increase my supply. Then the Rational Me speaks up and says don't be stupid. And so I keep going about my normal business.

This dude (and I've heard about his blog before, but am not a reader) just validated all the misgivings I've been feeling.

I'm very interested in what others have to say about this topic. Gauge their opinions. The poster above has a good point about the blog owner getting advertising revenue, but...it's a respected blog. So I'm torn on that. But thanks to the poster who pointed it out to everyone. More information = more informed opinions.

reply to post by Cybermerc


I agree! Already Done. In my opinion- When whatever happens, the power will go out, and ATMs will not work. The Banks will lose information, and not even be able to tell you how much was in account. Then they will turn everything over to a Cashless Society.

wow, survivalblog is no cry wolf web site........

I guess im going to the bank tomorrow and get some extra cash.

Originally posted by stanguilles7
Probably so you can go buy gold or silver from his advertisers.

go ahead and buy physical silver. (But don't neglect investing in those crucial "Beans, Bullets and Band-Aids" first.) With spot silver presently under $28.70, this is an ideal time to get out of paper and into tangibles.

He is only saying to buy silver IF you already have plenty of "Beans, Bullets and Band-Aids". Its also fair to say his advertisers do also sell "Beans, Bullets and Band-Aids". I'm sure he gets some revenue when people click on the links. But, and here is the big but, he is taking a HUGE risk by telling the readers of his blog to cash out of everything and buy tangibles. If nothing happens and people are left without money when they need it they will blame him. Sure it will be their own fault for not being smart about what they can really afford to spend, but that wont really matter in the end. People will no longer trust him and it will hit him where it'll really hurt, his pocketbook.

reply to post by Numbers33four


Walmart has a good deal on Water for 32 bottles for 3.89. We better buy it up before its all gone!

reply to post by Ameilia


I'm in the exact same boat you are in. I have some supplies, but not nearly enough. And have been on the fence about spending more money on it. I think its time to step up my prepping.

reply to post by camaro68ss


Try and always carry enough cash for a full tank of Gas, and atleast 2 weeks supply of food. Dont forget create a first aid kit..add Clorox, Gloves, and Masks.

reply to post by Apollo7


Dear Apollo7,

I agree with you. Just like Peter Schiff and the Austrian school of Ecomonics had predicted what we are seeing, so had I a couple of years in advance (you don't need to believe me). Unlike the others, I believe it was indeed intentional, that all of this is intentional. I believe the end game is an all electronic currency. Sweden has already said they are going cashless in the next couple of years and England is eliminating checks next year. If we have bank runs and destroy our own currency, we will go cashless also. Imagine a global electronic currency with exchange rates determined based on the total mineral wealth, labor and infrastructure of a nation, it has already been discussed and we will go along with it because the dollar is no longer going to be the world's reserve currency. You get a star from me. Peace.

Originally posted by Apollo7
reply to post by Numbers33four

 

Walmart has a good deal on Water for 32 bottles for 3.89. We better buy it up before its all gone!

Or buy some land with aquifer access and build a well. Keep lot of spare parts for your pump. Have a river within walking distance.

Originally posted by Numbers33four

Originally posted by Apollo7
reply to post by Numbers33four

 

Walmart has a good deal on Water for 32 bottles for 3.89. We better buy it up before its all gone!

Or buy some land with aquifer access and build a well. Keep lot of spare parts for your pump. Have a river within walking distance.

Yeah, because buying some land with an aquifer and well with lots of spare parts within walking distance to a river is do-able for the majority of Americans?

At this point, better stick to buying the bottled water and holding onto our ankles.

reply to post by amongus


The state of most Americans is no accident. For decades people have been herded into dependence in anticipation of the event. Look what happen at New Orleans after 50 years of learned (taught) helplessness. People can do whatever they have to in order to escape the bondage of the system. Or they can stay on their knees. You pick.

There is also strength in numbers. What one cannot do, one hundred like minded people can do.

just went here www.thereadystore.com...

Bought some extra supplys just in case.

My wifes going to kill me but will be thanking me latter after the SHTF

Originally posted by AQuestion
They had bank runs during the depression, they only make things worse than they would be otherwise. Bank runs cause hyperinflation and any cash you got out today would be valueless tomorrow.

Yes bank runs cause hyperinflation... just ignore the constant running of the printing press that is making money out of thin air.

Bank runs also take out banks that are not in danger of anything. If people take all their money out of the banks today, they will be paying it in taxes tomorrow because we, the taxpayer insure the banks.

This is part of the problem. Banking is a business and no business should ever be insured by the taxpayers. Like any business, if it fails, it fails.

Banks lend at a ten to one ration, for every dollar deposited, they loan out ten. When they cannot pay the depositors immediately, they call in the loans they have made.

And if I did this same thing, I would go to jail for "loan sharking"

If you think the foreclosure issue is a problem today, a bank run will be 100 times worse.

You call it 100 times worse, I call it much needed.