[notdownwidems]

Got news for ya, I think if 5% of Americans tried to move to a cash position, the banks and brokerage houses would slam their doors shut quicker than you can spit!

Help! The average Joe like myself needs clarity, in order to save whatever might be saved! What does the above mean for me and what can I do to prevent/ameliorate it? I have a modest retirement account invested with Ameriprise in a (what I thought was) relatively safe mutual fund. What should I do? Seriously

[djf]

Well think about something.

Most (if not all) of the biggest banks and brokerage houses simply do not have the cash to cover investors.

So you have to decide if you want your money sitting in an account that might never get cashed out, or get seized by the Feds, or whatever, and do what's appropriate.