E.M.P’s – Power Grid Failure – Bank Hackers

Is Your Money Really Safe In The Bank?

Is Your Money Safe In The BankWhat would you do if you logged into your bank account, and it said your available balance was $0.00? You would probably shake your head and think, well that’s not right. I just checked it two days ago, and there was $3900.00. Frustration begins to set in as you look up your transaction history, and turns to panic as the page shows no transaction history.

As you are now wishing you didn’t sign up for paperless statements six months ago, you call you bank to find out what is going on. And the automated teller also confirms you have a zero balance in your account. Now if you haven’t kept any records, and the majority of people don’t, you are really in trouble and your money is gone.

If you don’t think this could happen to you, you are seriously deluding yourself. But don’t take my word for it, you can look it up; the Bank of Cyprus bailout. Long twisted story short, people who had money in this bank found out the hard way that it could be taken from them, and it was.

It has happened here in the U.S. as well. Due to cyber-attacks, and other problems, in the past six weeks major banks have been offline for over 249 hours. Chase bank customers have had the above scenario happen to them recently.

Personally to me this is outrageous, and should never have happened. However, it did and now I can learn from it, just as you can.

 

Buying Gold And Silver

Is buying gold or silver a good idea? yes! But keep in mind that gold is only worth what people will pay for it. In the event of a global economic collapse gold would be worthless, food and water would be more valuable than any precious metal at that point.

In the case of a U.S. economic collapse it is a good idea to have invested in gold or silver. Just because the value of the U.S. dollar has plummeted the value of gold in Europe or England would still maintain it’s value, although getting there to cash in your gold in is another story.

Gold and silver are not necessarily only as valuable as the market will bear. precious metals are just that; precious. It could be years after a global economic collapse when gold and silver regain it’s value but eventually it will. And what about your savings account? you can kiss that goodbye. What about the money in your pocket? At least you can make a fire.

 

 What Can You Do To Protect Yourself Today?

1. One of the best ways to prevent losing all of your money in a situation like this it to keep your banking records, all of them. You can still get your banking statements online, just make sure you have a paper copy of it as well. Keep all of your banking transaction records in a safe place with all of your important paperwork.

 

2. Don’t keep all of your money in one bank. Spread it around to several different accounts at several different banks. And make sure you keep adequate records of the accounts you have.

 

3. Don’t rely on the banks. Personally for me I like having my money in the bank, I rely on them to keep track of things for me, balances, spending etc. I like being lazy and letting someone else do my work, but not anymore. With how things are going, this isn’t the best idea. Keeping cash (gold) at home can be a good alternative, and it makes you accountable, you have to be able to control your money and spending. And isn’t that what we are all here to do? Take control of what is ours? The first step in relying on yourself, not a bank.

 

4. Have at least 6-12 months of living expenses saved (in gold or silver if possible). This is really difficult to do, but you can do it, and there is no time like the present to start saving. Create a budget and stick to it. Pay for your purchases in cash, that way you aren’t tempted to spend a little extra. If you don’t have it (the cash) you can’t buy it, right?

 

5. Keep your money or precious metals ‘safe’ at home. Sure you won’t be earning any interest, but think about it, do you earn anything by keeping your money in the bank anyway? You can purchase a safe, or devise a system within your own home to hide your money. Our grandparents used to hide money in a mattress, I am sure you can come up with a better place than that to hide your money though.

 

6. Be accountable for your spending. Know how much you spend, and try to curtail it. Do you really need that 2nd camera? Or the external flash for it? Sure it’s nice to have, but do you really need it? No, you don’t, so save the money instead for something that you really will need, like a future house payment or groceries if the SHTF.

 

7. Build up your supplies at home. This includes everything from groceries to toiletries. Use coupons for items when they are on sale, and stock up.

 

8. Invest in something other than dollars, precious metals will always be precious. Gold and silver can be good investments, I just wouldn’t go crazy with this. Also think about items that can be used for bartering.

 

9. Become more independent, I’m not saying you need to go completely off the grid but rely on yourself instead of relying on the government. Sure it’s nice to not really think about the future, and walk around thinking about the next game you could be playing on your fancy iPhone, but self-reliance is not something learned overnight, and the more time you dedicate to learning about being self-reliant will put you one step ahead of those who didn’t take the time to prepare.

 

10. Stop sticking your head in the sand and thinking your government will be there to take care of you. I have news for you, those who you think will be there to help you when things go bad won’t. They will be the first ones to take what is yours, and exploit what you have worked hard for, but when it comes to getting help don’t depend on our government to be the ones to help you. You have to be able to rely on yourself, and no one else. Have you been paying attention to what’s happening in Detroit right now? Pensions are probably going to cease, and the city is Bankrupt. Mismanagement of funds will now take money promised away from city workers who gave their all, and now they won’t have an income. Don’t count on that money always being there, unfortunately many will be learning this the hard way. By relying on yourself and learning as much as you can now will go a long way to protect what you have in the future.

Are You Bank Proof?

Does this scare the crap out of you? It scares the crap out of me! Money these days is made of plastic not paper, if the system were to go down or someone got access to our account information we could be devastated in seconds. Preparing for a disaster is not just about eating bugs and shooting guns, it’s about prepping for the inevitable and expecting the worst case scenario.

What do you do to ensure you are prepared financially if the SHTF?

 

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Dale
Dale

Survival and being prepared should not only be a passion, it should be a lifestyle. The definition of a prepper is "An individual or group that prepares or makes preparations in advance of, or prior to, any change in normal circumstances, without substantial resources from outside sources" Like the Government, police etc. I don't believe that the end of the world will be the "end of the world" I believe it will be the end of the world as we know it now. You can also find me on Google Plus and Twitter

    4 replies to "Is Your Money Safe In The Bank"

    • Lynn

      You wrote, ” In the event of a global economic collapse gold would be worthless” — untrue.

      Gold will NEVER be “worthless” although many people believe this. In fact, Gold is money. And Gold is money that is recognized around the globe. It’s the ONLY global money that is safe, despite the current activities to try and devalue Gold at this time.

      The currency we use, the USD, is just that — a currency that swapped Gold out with and people believed the USD to be the same thing. Currency is not the same as real money — you are confusing yourself with the term “money”. Currency is artificially created and controlled. We’re watching what happens when a county uses a fiat currency — it won’t end well. So to protect any accumulated financial wealth that is not property-based, get out of the banks, get out of the USD — buy Gold. (Silver, too.)

      Credit unions are safer than banks, in general. At this point in the inevitable economic collapse, the only USD currency that people should have is for paying bills, along with some extra USD for short-term purchases that are necessary.

      PMs are very important for both short and long term ‘investments’ at this time. And none of them should be stored anywhere near a financial institute.

      • Estevan Montoya

        I must agree with you in regard to the fact that things will need to stabilize/gold regain value. This stabilization must come from a civilization that has moral ethics in which people are trusted again, something we know little of.

        Until then, in the event of such turmoil, I believe that bartering will be king. Currently, my wife has seeds. Seeds can become food. What is the point in having gold if you die of starvation?

        The question then becomes, how much value does one have on their life? Also, what if one does not have precious metals? Food is always a good bartering tool, as well as water, clothing, and so.

        Don’t get me wrong, I buy precious metals, but I understand that money is not always the option.

        Thanks for the post!

      • Dale

        Valid point. Maybe I could have used a better adjective than “worthless.” But in the case of a global economic collapse if and when there is no “currency” the only option would be to trade or barter with gold. At that point I don’t see gold having very much value. It could take 2oz of gold to buy a gallon of water.

        I believe that gold would eventually regain it’s value because you are absolutely correct when you say” gold is the only global money.” It is just a matter of how long that will take for gold to regain value.

        Thanks for the great comment,
        Dale

    • Elissa

      My mom has a substantial amount of money sitting in the bank in savings! What do you suggest she invest it in? Several hundred thousand ?

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