There are about 60 police gathered right now at the Peace Bridge (border crossing into Buffalo, NY) to preempt another protest starting there.
I like the idea of everyone withdrawing all funds from banks, but there’s the practical matter of what to do with all that cash. Do people really want to have tens or hundreds of thousands of dollars or more in their homes? Can a bank manager who may not (probably WOULD NOT) agree with that decision be relied upon to be silent about such a withdrawal?
He tells his wife “You’re not going to believe what someone did …”. The wife tells her quilting club friends and one of them mentions it at Sunday dinner in front of her ne’er do well son. Next thing you know, the child of the person with all the cash is being held for ransom, or the home is broken into. Even if the money were in a safe in the home, the homeowner is still at risk of being tortured for the combination.
I don’t think my money is safe from government grab in a bank, but as a practical matter, what can a person do?
Watching a live feed of the police moving in on the protests feels like a movie. Sad day
You could invest your money in the stock market preferably in low risk mutual funds. Or buy silver and gold.
Get a hardware wallet, put the money into crypto, and get it off the internet and into that hardware wallet. Or put it into gold, but that still needs storage.
One option might to invest your money in a credit union.
The Federal Reserve does not supervise or regulate credit unions. Federally chartered credit unions are regulated by the National Credit Union Administration, while state-chartered credit unions are regulated at the state level.
exactly...
I got my tax refund check yesterday and moved half of it to the credit union....
we don't have alot of cash and almost all of our money over the yrs has gone to our home, shop, and retirement accts...
what to do with 401ks.....only so much money is protected by the govt in the bank....
they have us by the balls, if I had any....
btw ....God Bless Canada....