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Started By
Message
Anyone see that Marc Chaikin email suggesting get money out of banks now?
Posted on 3/18/23 at 9:47 pm
Posted on 3/18/23 at 9:47 pm
Where do you put money right now?
Sure not comfortable going heavy into Stock Market with current state.
Sure not comfortable going heavy into Stock Market with current state.
6
Posted on 3/18/23 at 9:55 pm to NAsh-vegas Tigah
If the banks go down we F'ed
Doesn't matter where you put your money sans bullets and gold
Doesn't matter where you put your money sans bullets and gold
This post was edited on 3/18/23 at 9:56 pm
Posted on 3/18/23 at 10:03 pm to NAsh-vegas Tigah
Why would you pull the money from the bank? You holding a lot of cash in the bank?
Posted on 3/18/23 at 10:24 pm to UltimaParadox
Have a savings account that is earning 4.25%. And yes…… more than I should have in a bank. Just scared of market right now.
Posted on 3/18/23 at 10:40 pm to NAsh-vegas Tigah
quote:To what end? To put into higher-yielding investments, or literally out of fear of just having it in the bank? If the latter, it's stupid advice and you should never listen to this person again.
suggesting get money out of banks now?
Posted on 3/18/23 at 10:42 pm to NAsh-vegas Tigah
quote:
Have a savings account that is earning 4.25%.
FDIC insured?
Posted on 3/18/23 at 11:19 pm to NAsh-vegas Tigah
quote:
Have a savings account that is earning 4.25%. And yes…… more than I should have in a bank. Just scared of market right now.
If it is more than 250k you could always spread it out. Otherwise not sure what you are worried about it if it is FDIC insured
Posted on 3/19/23 at 12:50 am to UltimaParadox
If you have 100,000 or more cash check out the company below. They get you the highest possible interest rate, spread cash around to different banks so everything is fdic insured, and it’s all liquid.
Max my interest
Max my interest
This post was edited on 3/19/23 at 12:51 am
Posted on 3/19/23 at 5:17 am to NAsh-vegas Tigah
No.
My email is always “white wife caught in African elongation ritual.”
My email is always “white wife caught in African elongation ritual.”
Posted on 3/19/23 at 7:56 am to thelawnwranglers
quote:
gold
As useless as money. You could have a wheel barrow full of it and if I have food and bullets, your gold might as well be shite. I'll just shoot you and bury it for later but I'd never trade anything for it if SHTF.
Posted on 3/19/23 at 8:02 am to thelawnwranglers
quote:
gold
A worthless industrial metal at the end of the day, you cant eat it, you cant kill someone with it.
Posted on 3/19/23 at 8:32 am to Strannix
You ever pick up a gold bar? You can definitely kill someone with it.
Posted on 3/19/23 at 9:00 am to Big Scrub TX
quote:
To what end? To put into higher-yielding investments, or literally out of fear of just having it in the bank? If the latter, it's stupid advice and you should never listen to this person again.
I’m not a boomer so I’m not sitting on like 10 million dollars like boomers but as a millenial I find it hard to trust a boomer institution like a bank after what boomers have done to us in the past
Posted on 3/19/23 at 9:01 am to NAsh-vegas Tigah
quote:
Have a savings account that is earning 4.25%. And yes…… more than I should have in a bank. Just scared of market right now.
I don’t know who Marc Chaikin is. No, I’m not emptying my bank or brokerage accounts based on what he or anyone else says. No, he hasn’t sent me any emails. If he did, I’d ask him who he is and why he’s sending me emails. And I wouldn’t pay any attention to the newsletter hucksters (if that’s what he is) and fear mongers who are swirling around the turlet bowl recently. Keep no more than the FDIC limits in a bank, or in multiple banks = you’re protected. If that seems unworkable, ladder yourself into t-bills in a way that you’ll periodically have access to the amount of money you’d typically need in a given time period.
Posted on 3/19/23 at 11:22 am to thelawnwranglers
quote:
FDIC insured?
Posted on 3/19/23 at 11:39 am to NAsh-vegas Tigah
quote:
Marc Chaikin
Mark Chaiken sells newsletters I believe so he’s always banging one gong or another.
That said - keeping excess cash in banks earning next to nothing doesn’t make a lot of sense.
Posted on 3/19/23 at 12:31 pm to NAsh-vegas Tigah
quote:
Just scared of market right now.
They got you exactly where they want you Posted on 3/19/23 at 1:03 pm to el Gaucho
quote:What scenario are you envisioning in which the banks fail but you are somehow protected elsewhere?
I find it hard to trust a boomer institution like a bank
Trust me - if the banks fail to the extent you are implying, it's potential open warfare in the streets. And the dollar might not be worth very much.
Posted on 3/19/23 at 2:09 pm to Big Scrub TX
quote:
Trust me - if the banks fail to the extent you are implying, it's potential open warfare in the streets. And the dollar might not be worth very much.
Argentina, Venezuela, and Bolivia are great examples. If money is worthless you better have plenty of guns and ammo.
Posted on 3/19/23 at 4:46 pm to thelawnwranglers
NCUA insured
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