If we take all our extra money out of the banks, they will fail just as fast as if they aren’t bailed out. I have already moved my savings to scott trade from suntrust ($80K). So I basically have taken 800K of loans off their books. That’s the beauthy of fractional reserve banking. Leverage up 10X and feels great until the market turns, then 10% down wipes you out. Just think if we remove a few more billion in cash from these institutions, it means a run on the banks. They were building up cash in advance/expectation of bank runs. This is one way we can control them by taking away their funding.
I have also converted 3% of my savings to gold/silver in the last few weeks, already have turned 10% profit! I am trying to convert more but there is a shortage of silver and gold coins and limits are being placed on purchases.
Take your money and run. Convert some of it to precious metals, put the rest of it away, only keep the minimum for transactions at the bank….they are not safe and they are all insolvent.
