To prevent widespread bank runs and to keep money from leaving the country, the Greek government instated numerous capital controls to keep the lid on their economy, such as placing a daily withdrawal limit of 60 Euros. When they first created these mandates earlier this month, they were only supposed to be in place for a short period of time. But now it looks like the Greeks may be facing a long-term banking crisis.
Late last night, Prime Minister Alexis Tsipras made a statement that should have Greeks dreading the next few weeks. In a televised interview he stated “The reopening of the banks depends on the sanctioning of the deal, which will take place in a month.” So basically the citizens of Greece can look forward to long lines at the ATM and cash shortages through August.
Keep this in mind for when America’s debt crisis finally blows up. You don’t own the money in your bank. It belongs to the bank, and it’s insured and regulated by the government, who are bought and paid for by the banks with the money you put in their accounts. When the system falls apart, you’ve got to see the writing on the wall and get your money out early. Once the crisis starts, your savings will be handed over to the authorities, and rationed out at their leisure. (see how much debt the world owes).
These criminals suck, and the people don’t even know that they are criminals.
I talked to a local banker a was told the worst place for your money is in a bank. Only trouble is what to do with it once it is out( if I had any)? You still have to pay property taxes, electric, etc. Are banks allowing them to pay their bills? Burning gas to go to power co to pay in cash? A real nightmare!
All of this is a bit overwhelming. I have been reading and contributing here for a long time. I am somewhat prepared but am moving to a warmer area of the country. Am too old to fight winters and do all the work on my acreage so I/we are going to just enjoy the time we have left and let the chips fall where they may.
Good luck and God bless, James
James, come check out N. FL. High ground, out of the Flood Zone, and Flood Ins costs, loads of nature, cheap property taxes and NO State Income tax. Very Gun Friendly 2nd Amendment Laws.. Gun Shows, Mild winters, no snow shoveling, chilaxing people and great sunsets. My fav part of the day, is day break, nature wakes up and you can watch it all unfold with a great mug of coffee. And cigar.. ha. I am orig from Wisc. 3 seasons up there =July, August and Winter. And if I want to see winter, head out west to thw ski slopes for a week. Thats plenty of snow for me to plow through. ~WWTI
Instead of using a bank to store your money and from which to pay your bills, at least use a credit union instead of a bank. Credit unions are not under the authority of the FDIC, and are not FDIC insured, they have their own “Insurance” program.
So if the FDIC declares a bank “Holiday” credit unions could still open, and if the FDIC fund goes under Credit unions could still be covered.
FDIC insurance can not cover a systemic collapse, and now under the 2014 porculas bill that passed last September, the FDIC now insures the 186 quadrillion of derivatives held by banks, and the banks will get their derivatives paid first before depositors who are unsecured lenders.
In credit unions the money is yours, in banks the money is the banks.
I pay my mortgage by using money orders. I take out the cash from the bank and buy them. Send it USPS. Now I have a few months in cash just for this issue.
Instead of using a bank, which legislation allowed bail-ins, use a Credit Union!
Took most all of mine out, small amts below the radar, all in the newest Crisp Benjamins. Oops but it all blew out the window on the way home. Easy come easy go. Ha…
I was talking to one of my bankers who wanted me to borrow some money and move my other accounts to her bank.
I gave her an ear full, explaining the new rules, the financial numbers of the banking system, and told her to take my lead and drain her accounts too.
An older woman, in her forties, who didn’t have a clue. 🙁
Hungry people are fast-learners.
Seriously, there will be no bank runs. Jade Helm is bullshit and so is most of the shit on this site. What will you guys do when Jade Helm is a “bust” and there is no martial (not marshal) law? Wow, that will be a buzz kill won’t it? If you don’t have 2-3 months of cash on hand (in small bills) THAT IS YOUR FAULT….just sayin’. I AM a prepper, and I am not bat shit crazy, I prep, and have for the past 35 years. The military does this every two years (biannually) and has a big exercise for MOUT exercises, since the 80s. I’m a retired E-8 with almost 40 years in service. BTDT! Several times. There are enough weapons in the hands of civilians, the gooberment won’t DARE try to confiscate weapons. They will instead try the “long fight” by making guns “disliked” over the years, hunting too, and whittle us down by making it hard to hunt and hard to own guns….then they will attack….be careful….teach your children, grandchildren and so on ….teach nonshooters to SHOOT…MY .02 cents. Be Well.
We’ll take it out of their hides(politicians,bankers).
Jim,you can have the hides when I am done,gets ugly enuff perhaps pulling a “Alive”!I am not a wasteful person but will have no personal needs for the hide,there yours!
I’m scared. They might keep the $10.27 I keep in the bank.
Bring it sparky, getting too damn old to really give a f#@k any more.
This is why you always want about 3 months worth of expenses sitting at home in CASH.
In the safe, guarded by the german shepard with your wife on the front porch with the joe biden 12 ga. double barrel shot gun…AND it’s THAT time of the month…sure sucks to be a criminal… 😉
That’s too funny.
All we have to do is be prepared, it would be like the olden days when you took your cash and paid your bills in person. But people nowadays want convenience, just swipe a screen and it’s done.
There’s a rude awakening just ahead.
I keep much more than three months worth in the house.
Exactly, you should have at least 3 months of expenses at home in cash, better would be 6 months. Just my POV. Be Well.
Lots of speculation, very few facts that are stated even apply to any other Country or place…
More Porn thoughts about a Non existent problem.
Obama giving Pardons to drug dealers and wanting to give ex-cons, and current Prisoners, their Voting rights back is the serious problem for everyone today.
Haven’t seen a single comment about El Presidenta’s, Iran nuclear deal, and how he will get the necessary votes, to keep congress from Turning down the Treaty, concerns me a lot. What has happened to our separation of powers, from the US Constitution..
Chriatian Man. Thats hilarious!! Honestly how many ex cons fibe a shit about Voting? The Gonbt does not want minor drug offenders voting to legalize pot. Its a scam to keep in place BS laws to feed their public fleecing machine. Anybody who did their time needs to have their rights restored period, so they can contribute back to society and have a stake in our Country. You can bet they GOV still wants to collect taxes from ex cons eh?
“Chriatian Man”, “fibe”, “Gonbt”….are you using the English language? You should type slower and SPELL CHECK, before you post. Just sayin’.
obungler isn’t worried about congress, his admin has enough blackmail materials on them to get what he wants. We just have to weather the posturing circus show they’ll put on for the sheeple.
Let them close them. I we as Prepers here know that this is coming we are going to be OK.
I could just see a guy with lots of money in the bank and a construction company. Can you say BULL DOZER!
Sarg the guy with the Dozer would just be destroying a building and would probably just get himself shot. Cause the Bank is just like Obama’s Head, There’s nothing in there. Trekker Out.
make that a CAT D11 driven by my daughter, all 4′ 11″ of her, dynamite comes in small packages, pity the banker that pisses her off
Better to do as the Greeks and hoard your cash. No one wants your old dimes and quarters.
I’m using my Liberties to make medicine.
JRS…Tell ya what, if TSHTF, I’ll trade ya for your quarters a damned sight quicker than for your fiat…Assuming I would trade for either!
While I do hoard cash, I would bet on “dimes and quarters” when that’s all that “shop keepers” will take…I have them, in abundance (.50 cal ammo cans full, and silver too), along with FRNs. What ever works is whatever works….period. It doesn’t have to make sense to you…it just has to work. Be prepared, period. Be Well.
We here have to walk a fine line.
We opt to continue in a system,we
know to be flawed.
We prepare for the worst,
but acknowledge, you need a years worth
of fiat money in the bank to buy parts
for the junker truck in an emergency,
but realize that bank can close and
deprive you of your money.
We keep a stash of gold, silver, Dollars
but also know that they are meaningless.
Water, shelter, guns, ammo, food, tools,
land, a bible, and family are all you really
God help us all.
Auribus Tenere Lupum:latin,means”Hold the wolf by it’s ears”,tis this countries situation.
WELL SAID, SIR.
I figure if the banks close in the USSA, money will ll be the least of my worries.
Having all the magazines loaded and a round in the chamber is what will count!!!
Amen to that brother! you’ll need lots of those to keep what you got starving people are VERY dangerous!!
Give a man a gun, and he will rob a bank.
Give a man a bank, and he will rob the people.
lol, lol, lol. Be Well.
Heard we are giving Iran money for the nuclear deal somehow, for people that want to kill,
And will not change ever. Need a change of the guard cause there ain’T none. Your labor is
Not your own cause according to the bank it belongs to them. TO OUR FEARLESS LEADERS,
ANYBODY HOME IN THERE! HELLO, COME IN! HOUSTON I THINK WE HAVE A PROBLEM!
Anon, xorrection, we are nit giving Iran any money, just unfreezing their asseta they have invested in the US. Reagan gave Iran about $5 Billion in their frozen assest to release the 52 hostages. So Reagan negotiated with Iran and paid them off then. REAGAN is the father of terrorism. Look up the Beruit BOMBING, Ronny Cut and Ran.
The Bank of Canada just dropped it’s mortgage rate again, lowest ever and that is the only silver lining I can see, north of the 49th parallel. Like James, I, too, worry about utilities being paid. It is all well and good to have living expenses squirreled away at home but what about all the electronic auto debiting that occurs? Most of the activity on our accounts takes place in the digital world of noughts and ones. We only use cash for groceries and gas but mortgage and other standing orders come out regularly. Just what do we include in operating expenses: only stuff we pay cash for, or do we include the auto debit stuff too??? My big worry is foreclosure if you cannot pay in cash. Will they have us over a barrel by freezing our accounts and then tell us our mortgages are due? Anyway, I haven’t posted on this site for over a year. The last post I made I was chastised for not having enough wood to get me through one winter. I am proud to announce I have added five cords of wood to my previous three. So, even though I am a townie, we can at least make it through one winter. One less item on my ‘to-do’ list that is arm’s length long.
I haven’t posted on this site in probably 2 years but I too am stacking wood and ready for winter.
“Will they have us over a barrel by freezing our accounts and then tell us our mortgages are due?”
Based on what I’ve seen, you can bet on exactly that. They will throw you to the ground AND kick you in the face while you’re down, while demanding that you smile.
I used to be worried about the house and car notes too. But then I realized who is gonna come kick me out or take my car for missed payments? The repo man not getting paid? Or the bank teller from the closed bank? There’s not a house on my street that doesn’t have either a mortgage or car note. That’s a lot of houses to take over/foreclose and cars to repo.
These Greeks really tick me off. Their civilization has been around for thousands of years and they haven’t figured out that you can’t suck somebody else’s bank account dry and not have to pay back all that money. Bunch of thieves. Yes, the banksters are bad, but Greece should’ve known how bad things would get.
Now that they let it go too long they’re going to see some really bad times; and a lot of it is their own fault.
Are you an idiot or just know nothing about the Greek Crisis and where all the money loaned to them and “given” in loans and bailouts went? It didn’t go to the people or even the country of Greece, it went back into the EU’s pockets because they are pushing their failures and greed off on the people. This is just the first of many countries ridden with the EU debt that we are seeing the effect play out.
Get a clue people!
Greece recently ended a pretty ugly civil war,the memories still close to home,majority that does know better trying to avoid a repeat,unfortunately may happen anyhow.
That’s just you believing the cover story that the Greeks actually benefit from the Bailouts. The truth is that the bonds they sold (foisted upon them from the ECB in 2009 to 2012) are the instruments that the banks bought and demand a return on investment. It’s the banksters who are unwilling to take a haircut on those investments. The reality is, the Greeks got very little of that money and now have sold $50 BILLION dollars of their infrastructure (like roads, bridges, airports, etc.) to appease the European banksters. Even the IMF knows this will end in failure as they continue to be squeezed like a juicy zit. Only there’s not much squeezing left. The Greeks should have emulated Iceland and gave Europe’s banksters the middle finger.
I wonder what they threatened Tsipras with, to get him to sign on the line…
I think everyone knows they are just kicking the can down the road a little farther. The real problem for the Greeks is losing real assets this way. Their standard of living is not going to improve either way, but, as I see it, in the long run they are worse off accepting this deal. They should default and start over, being willing to accept how hard that is going to be in the short run.
also don’t forget the people of greece had very nice retirement pkgs and NO the powers to be could NOT have the people enjoying there life a little to much, so they had to screw that up as well!! they have to keep the sheeples inline!!
I agree the common folks overindulging in the ;loans; but still are obligated to repay what they got. Yhe bankers are also dishonest.
If they close for a month, then SHTF COMENSES.
hey fine go a head and close the fuckin banks .. guess NO oNE is going to get paid either
electric provider … fuck you
mortgage … yep fuck you too
etc.. run this shit up your flag pole idiots ..
oh and when you finally realize you fucked yourself too, guess what? when you decide to open the banks back up ,, they will be emptied and never used again ,, so you banks can go fuck yourselves , and all (I only have one note) creditors can go suck on a swan dive out your window
once they pull this shit over here they will be so far under the bank they will never see the light of day ever again,, so go a head and try it .. were waiting
life with out banksters .. cant fuckin wait
Greeks stopped paying their electric bills years ago. Just like they never paid their taxes. So they don’t need cash, except for hookers and blow.
WILL NEVER HAPPEN HERE!!!
If they’d just stomp on a few insects, the problem would be over.
Who cares,you didn’t have majority of savings(if you can afford to have any!)in preps/land metals/tools ect.,well,tough!As for bills ect.,really wouldn’t worry about em as the lights will be out regardless,bankers and their employees hiding for their lives,tis challenging times,bills least of worries!
Are you ready?
Eh,as well as I will ever be I guess,really,do not envision long term survival for Warchild,tis allright though.
It’s great to have a fireproof safe, but make sure it’s waterproof too. Live and learn folks!
Possession is 9/10ths. of the law!!! If it’s no in your possession you have nothing….
Every one take your money and well set this place on fire!!!!
Interesting prepper thought.
It’s generally recommended to have at least a few hundred dollars hidden away at home. If stores are operating on cash, it will take just a couple days for them to run out of small bills and change! Perhaps adding some rolls of coins and a stack of singles might be prudent! To finish transactions.
Preppers could do well, while the rest of the population sucks wind with non functioning credit and debit cards.
VERY good point. I’m going to start saving all my ones and fives. Already put all my quarters in a jar, and nickels, too. Dimes, not so much. Can’t stand having Franklin Destroyer Roosevelt’s face in the house.
Now that’s funny re FDR!
Yes I can, I talk to scientist, it’s wound be imagined, but it will be experienced. You will go through this experience, weather you want to or not. The elites I am told do not know the outcome and expect divine intervention. God will demonstrate his existence. We the people will returned to God’s ways, and revolution comensess. The sh…..t hits the fan We shape the future. This is my Dissertation.
Gold, silver, junk silver, cash, ammo, water, 3 to 4 months of food, smokes and alcohol for trade, bic lighters. Hope I am set?
Well, you are not set if you have only 3-4 months of food! Don’t forget the toilet paper either.
Soooo, should people remove money from their iras and other funds? And should they do it now???
What about the elderly, should they take out all their money they have in cds, mutual funds, insurance death benefit funds, saving, iras etc??
Food bought and stored for a future disaster, is part of a survival plan. Money sitting in an IRA at 1% is of less value than a stockpile of food that will cost a lot more than 1% next year after inflation! and is certainly more reliable than retirement money is this all time high just waiting to crash again stock market!
As long as you are buying food that will not go bad, and that you will actually eat when needed, then I say it’s a fine investment. I’ve heard of preppers that are living off the years supply of food they stockpiled in the good times, but now find themselves simply out of work! You don’t have to plan for the end of the world, just the end of your little corner of the world.
Take all your money out of IRAs etc and spend it all on survival supplies? I think that would be foolish, but to put some into a pantry full of food, a little gold and silver, a few security measures for your castle is all prudent. Diversification is how you should handle any investment plan.
Squirrels are smart enough to store up nuts and seeds for the winter. Obviously squirrels are smarted than liberals and progressives!
and this is what happens in a country who misses a payment in the amount of money that Wallyworld makes in like less than 2 days….I mean seriously Chi ners lost like over 10 greeces in the last month and I mean seriously Greece who…they are a nothing country that produces nothing in the grander scheme of things, and this is what is happening…if I lived in Greece I sure wouldn’t be anymore while still in the uro zone I would be heading for greener pasture…
I was thinking what the world would be like if people valued freedom as much as $. These assholes wouldn’t have a leg to stand on but people only care that they are getting paid and that is the way it will always be. People think that $ can solve all their problems if that was the case give an addict $ see if it solves his problem. The devil is using $ to control people’s habits and attitudes. The gov steals $ from the elderly. If people have too much$ they no longer need the one paying them but if they are paid just enough to survive they will keep needing their provider whoever it may be. The provider will use the $ to control behavior and compliance. Think about how hard it would be to control people who don’t need or want $. This is why giving terrorists jobs won’t work. They are motivated by their own agenda. People who have the least wealth are the most easy to control. People on public assistance will always vote to preserve programs and against budget cuts. Most people vote for libs just for this reason and it’s used to manipulate their votes for power. People need to stop being slaves to $ the system will fail if this happened. I’ve said before that I don’t spend any $ in any retail outlets unless it’s unavoidable like I need new boots or something. Buy your shit at yard sales and stuff help your neighbors not Uncle Sam and big corps. walmart does not need anymore $. I’d like a new truck but not gonna get one mine is still taking me to work ya it looks a little crusty who cares I’m not trying to impress anyone. Just need to haul shit around . People spend $ on the stuff they want not things they need.
I WISH PEOPLE VALUED LIFE AS MUCH AS THEIR TWITTER ACCOUNT…HERE’S YOUR LINK.
Ohio police charge man who filmed but didn’t aid teens in car crash – Yahoo News
What’s the difference. Keep it in the bank and “they” hold it. Put it in a shoe box and “they” devalue money and print more to equal some massive sum so your money is fiat.
Notice how banks want I.D. for cash deposites now? For a lousy $100.00 visa payment you must show I.D.
Face it “they” own you and any opinion otherwise will put you on a list. So for the internet I just love Obama. Hillary for president. All guns must be destroyed. Thinking is not needed as this will be done for you. The Koran is the only book anyone should have in there living cubicle. The leaders only need large living domiciles as they are worth it.
sooo should everyone just remove all monies from all accounts, savings, death insurance benefits, iras, mutual funds, and should they remove it all now??
It’s unlikely that the US would ever see the type of banking crisis unfolding in Greece. The biggest part of Greece’s problem is that their economy imports more than it exports, which creates a trade imbalance. Normally a country would be able to print money (devalue) to offset the trade imbalance. But being a part of the Euro, Greece cannot devalue their currency vs other countries. Cash leaves to pay for imports, and doesn’t come back as payments for exports. Eventually they run out of cash and the banks close. Unless, of course, the Euro loans them more cash. Lather, rinse, repeat.
Here in the US, we can devalue our currency vs our trade imbalance. So we avoid this particular Greece problem. Now, that is NOT to say that an individual bank (or several “too big to fail” banks) cannot experience a crisis and fold. Personally I will not bank with any of the criminal, TBTF banks. I bank at the local credit union on the corner. Like another poster said, credit unions are member owned, make local loans and aren’t playing in derivatives, etc. Not that a credit union cannot fail (they have) but they are generally “safer” than a big bank that is cross-collateralized with other big banks.
I keep money in savings at the credit union. It’s safer there in electronic form than anywhere I could put it in my house or back yard. I keep my ear to the rails, though, and at the first sign of trouble I’ll start liquidating it to fiat and metals.
In addition, I keep a significant amount of cash at home in accordance with the 4 D’s of hiding things (decoy, disguise, difficulty and diversify). There are lots of more likely reasons why a bank could be closed than a “banking crisis”: long term power outage, internet outage, civil unrest, etc. I have enough cash on hand to pay current bills as well as get us out of dodge in the case of something more serious. Or make a stock-up run to the store if necessary. I also have metals on hand because, you know, “just in case.”
But I certainly don’t avoid having money in the bank. Yet.
Mutual funds (particularly money market accounts)is a whole ‘nother conversation.
Part A = You work
Part B = Get paid money
Part C = (Spend) Get stuff
To circumvent and avoid the economic collapse you must eliminate Part B. Do not use money to get stuff. Go directly from Part A to Part C.
Money “MONEY!!!” is THE problem. Do not use it. I found a way to do it. Get paid with stuff, but not money.
A to C. Skip B.
It can be done. Really.