OT: I withdrew all my cash today

[urbanrealtor]

[quote=BuyerWillEPB]@ urbanrealtor.

Ooops! Five more today … so far.[/quote]

Quit smoking weed several years ago and yes I miss it at times.
But you make a point with your insecurity in the banks.

Damn.

In all seriousness, how beneficial is cash considering that, as a note of the fed, it is just as vulnerable as the banks themselves.

That is a serious question.

What is the alternative to precious paper?

Precious metal?

Food?
Salt?
Gasoline?
What would you put your money in?

I certainly don’t have a ready answer.

[bsrsharma]

risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.

[bsrsharma]

risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.

[bsrsharma]

risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.

[bsrsharma]

risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.

[bsrsharma]

risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.

[KIBU]

[quote=bsrsharma]risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.[/quote]

LOL.

On the other hand, the guy may be talking about his 50 bucks for the weeds that he withdraw before his bank will collapse!!!

[KIBU]

[quote=bsrsharma]risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.[/quote]

LOL.

On the other hand, the guy may be talking about his 50 bucks for the weeds that he withdraw before his bank will collapse!!!

[KIBU]

[quote=bsrsharma]risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.[/quote]

LOL.

On the other hand, the guy may be talking about his 50 bucks for the weeds that he withdraw before his bank will collapse!!!

[KIBU]

[quote=bsrsharma]risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.[/quote]

LOL.

On the other hand, the guy may be talking about his 50 bucks for the weeds that he withdraw before his bank will collapse!!!

[KIBU]

[quote=bsrsharma]risk in keeping my 6 mo. emergency cash in the system

Assuming you have wealth beyond emergency cash, how are you protecting that? If you truly fear $ demonetization/devaluation, a more sensible plan is to diversify into foreign currencies, gold, physical assets like oil, grain, real estate, international stocks/bonds etc., Stuffing federal reserve notes under mattress suggests need for psychiatric help.[/quote]

LOL.

On the other hand, the guy may be talking about his 50 bucks for the weeds that he withdraw before his bank will collapse!!!

[BuyerWillEPB]

Forgot to mention one other thing.

I was keeping all my emergency cash in the new ‘Online savings’. I used accounts such as HSBC Direct, FNBO Direct, ING online…

A couple of years ago, it was a saver’s dream because all these banks were competing against each other for cash. Interest rates were sweet for awhile (~6%). But now they have all dropped their interest payments to below 1.5% probably due to the fact that the Fed is doling out cash for free at 0%.

So the extremely low rate of return was pissing me off. But my real concern that I forgot to mention before was regarding the safety of these ‘Online’ and ‘Direct’ accounts over the internet. Granted they all claim to be FDIC insured, but this is a whole new internet ball game which hasn’t been tested yet.

Any legal eagles out there know of cases involving online internet banking accounts?

[BuyerWillEPB]

Forgot to mention one other thing.

I was keeping all my emergency cash in the new ‘Online savings’. I used accounts such as HSBC Direct, FNBO Direct, ING online…

A couple of years ago, it was a saver’s dream because all these banks were competing against each other for cash. Interest rates were sweet for awhile (~6%). But now they have all dropped their interest payments to below 1.5% probably due to the fact that the Fed is doling out cash for free at 0%.

So the extremely low rate of return was pissing me off. But my real concern that I forgot to mention before was regarding the safety of these ‘Online’ and ‘Direct’ accounts over the internet. Granted they all claim to be FDIC insured, but this is a whole new internet ball game which hasn’t been tested yet.

Any legal eagles out there know of cases involving online internet banking accounts?

[BuyerWillEPB]

Forgot to mention one other thing.

I was keeping all my emergency cash in the new ‘Online savings’. I used accounts such as HSBC Direct, FNBO Direct, ING online…

A couple of years ago, it was a saver’s dream because all these banks were competing against each other for cash. Interest rates were sweet for awhile (~6%). But now they have all dropped their interest payments to below 1.5% probably due to the fact that the Fed is doling out cash for free at 0%.

So the extremely low rate of return was pissing me off. But my real concern that I forgot to mention before was regarding the safety of these ‘Online’ and ‘Direct’ accounts over the internet. Granted they all claim to be FDIC insured, but this is a whole new internet ball game which hasn’t been tested yet.

Any legal eagles out there know of cases involving online internet banking accounts?

[BuyerWillEPB]

Forgot to mention one other thing.

I was keeping all my emergency cash in the new ‘Online savings’. I used accounts such as HSBC Direct, FNBO Direct, ING online…

A couple of years ago, it was a saver’s dream because all these banks were competing against each other for cash. Interest rates were sweet for awhile (~6%). But now they have all dropped their interest payments to below 1.5% probably due to the fact that the Fed is doling out cash for free at 0%.

So the extremely low rate of return was pissing me off. But my real concern that I forgot to mention before was regarding the safety of these ‘Online’ and ‘Direct’ accounts over the internet. Granted they all claim to be FDIC insured, but this is a whole new internet ball game which hasn’t been tested yet.

Any legal eagles out there know of cases involving online internet banking accounts?

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