When will the bank runs start?

When does the war start in the cities?

Why? Electronic paymemts should continue, right?

What will you buy with the other half?

That's a good question.

I personally don't believe that having 50k cash is any different than 5k cash if this goes to hell. Stores will only stay open for a day or 2 before theres all out chaos in major cities

I personally have moderate cash on hand but also have buckets upon buckets of freeze dried food. Good enough to last my family 1 yr+

I think having food, preps, and a water source are going to be more important than cash after the 1st week of chaos

Thanks. This is kind of where I am at with it, as well.

Given that your bank account gets flagged with a 10k deposit (to ensure you are not laundering $$), I was curious if ppl were keeping more than 10k cash on hand. I'm not into anything nefarious, but I'd also rather not raise any flags.

For me, I am guessing it'll be somewhere ~5k, but like you said - I don't think it will matter having 5k or 50k when it crashes, because it'll all be tinder.

If you havent noticed modern monetary policy is blowing up in front of your face. Just look at LIBOR/OIS spreads. The financial system has been fucked for awhile with all this Fed liquidity. Forget the cash go buy fucking gold.

wont happen

You don't leave money in banks lol

oh i've noticed. my 403 is tanking, and any fund i have an option to move it to is also tanking.

what exactly is gold going to do? you think people are going to just ignore life savings being completely dissolved and a select few who thought they were hot shit and kept a few lbs of gold on hand are going to come out of this better? I think not... i really doubt you end up with that gold.

Last Edited by ifSHTF on 03/12/2020 01:00 PM

Yep. If you have a bank account, your deposits are now considered “loans” to the bank, so in the case of a bank failure, you’ll have to get in line with the other creditors.

Hard to say what the FDIC will do. If they say “hey, you loaned that money to the bank” we’ll be SOL.

Do bank runs mean that your credit/debit cards won't work?? Fill up your tank too. That much I know

Hopefully they don't.

This is legit what fucks things up for everyone, including the 'smart' people trying to be first in the rush.

This is legit what caused the 1929 crash and the Great Depression along with the stocks and credit foolishness being so inflated.

Always have some cash on hand to get you through a week or a month but if everyone withdrew all their savings those savings would evapoarte and the ones that lost out would quickly notice if you were okay and would come after you.

A true meltdown would be shitty for pretty much everyone and only a fool, pure hubris, convinces you that you'll be the exception.

So few people have legit savings that the FDIC might well have enough to cover. Money market funds, then you are SOL.

This is where community credit unions can be good. They - do your homework! - sometimes have less risk outstanding and are protected by the State (know the laws in your state) instead of the Federal government.

I just called the number for a debit card of mine to check the balance and got a fast busy. Called a minute later and it worked fine. Never had that happen before, I wonder if we're already seeing early signs of a run?

LMAO, how far do you expect your cash to last anyway? If the system collapses only thing cash would be good for is to wipe your ass with after your tp is gone. Might want to buy some gold and silver wth that cash.

i figure today and tomorrow would have higher bank traffic anyhow, with it being the end of the week and payroll.

I've got a over 200k in my savings account that I can quickly access. I have about 7300 in cash and may go to the bank and make that a total of 10 to 15k however there is that looming threat that no one will want (dirty) cash. Additionally my banks stock price has fallen from 129 to 112 in two weeks. I have considered removing all but maybe 20k and putting the rest in my old public employee credit union. I sold all my gold and silver that I accumulated in the 70s - 2002 for a huge profit in 2008. I have a healthy 6 figure retirement pension and a large 457 plan has not lost a dime due to a great broker my nephew.

So after all that I'm heading to the bank to take out 5 to 10k cash. I may buy a few monster boxes of sliver and a few pounds of gold this week. Such wonderful exciting times we are witnessing.

Forgetaboutit! You need money in the bank to order groceries online. Cash is considered dirty. After I hand it to the cashiers, they immediately use hand sanitizes.
From now on, our lives will be lived out online, and life will never be the same again.

Been stocking up on my own piss sine this started in Wuhan.

Won't matter if banks lock down. At least if you have some cash on hand, you'll be able to still buy things at store for awhile. Prepare for massive fuckery if people cannot access their paychecks though. EBT''s will be a whole nother shitstorm. Best to prepare and hope for best.

Question is: what will people do if they find out that most of their money is gone overnight while the (wo)man at the desk is kindly telling you the next day that it is not the banks' fault?

odds are that the "dirty" cash will be accepted long after the electronic debit cards. cash will just be sanitized daily, if anything.

i also can't really justify a horde of gold or silver. in the event you would really need such items, bullets and lead would be far more effective, unfortunately.

Couldn't have sold the silver for too much of a profit. Silver was pretty expensive during the 80's.

Sounds like you just instituted, "if you can defend it, you own it". That's how the USA started, but would a bit extreme for such a civilized society...

Pretty sure everyone would prefer for you to send them money online than exchange cash. If anything cash would become the hardest way to make payments.

Never, the bank runs will never start because the banks will literally be given infinite money to continue working. The banks are basically the financial arm of the state now, pumping money and spending it all on stocks to make money. Ignore the markets, they are completely fraudulent and the probability of you losing any money if it is with the big banks is ZERO

Not for you and 99.7% of GLPers. You are too broke lol

Wtf?

I already did my own personal bank run days ago. $5k taken out of bank and put it in a fireproof box and hid it where the sun don't shine.

When there are suburban roadblocks and you need to apply 48 hours in advance for exit visas.