Which makes us wonder, just WTF will the regional banks do to cover the $140BN-plus hole in their balance sheets that they are currently filling…
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People are pulling money out of banks and putting it into money markets or tangible assets. To cover up the collapse of the banking sector, the government is printing money to keep them solvent. The banks are not OK as outlined here and the government has to either extend the Bank Term Funding Program in March or not.
The good news to this information is that people are becoming aware that their money in a bank account is not their money anymore. They are also realizing that the banks are all dead men walking. Time is very short and a true bank run could start at any time. What will you do when a bank holiday is declared and the money supply dries up overnight?
David DeGerolamo
As to the last sentence: Sit back knowing that I have prepared for this kind of event.
We do what we can. Each person has a different situation. And there is always the unknown factor we cannot factor in. Much suffering ahead for all.
Direct deposit has to go somewhere, a bank holiday would mean the economy grinds to a halt. Cash might get you a tank of gas in an emergency, maybe. At least savings accounts are FDIC insured, MMA not so much. Expatriation isn’t a viable option, either, I chose to stand in place. God will either stay the hand of the adversary, or Christ will return first, on that I have faith.
God doesn’t always bail us out; the banks crashed in my father’s lifetime; people starved in this country. Consider that this country just might be under judgment from the Lord Himself. Consider that the Lord to said to be on the alert, and prepare accordingly as well as repent accordingly.
Also consider that there might be a concerted effort to crash our economy, whether in the physical realm or in the spiritual realm. Ask God what you should do instead having faith that nothing bad can happen to you….and remember “all who desire to live godly in Christ Jesus shall suffer persecution.”
FDIC will not cover a small fraction of the money lost by people. The government knows this but the people do not.
Willful ignorance = FAFO
“What will you do when a bank holiday is declared and the money supply dries up overnight?”
I will do the same thing I always do. Today I harness up my horse and run to the mall (the Amish store) 7 miles away to get my daughter a snap installer. I will come back home the same way I left. I will dress warmly because it is 9 F with 10-20 mph winds. I will do my farm chores, then I will eat the hot meal my sweetie cooked on our wood stove; aged cheese he made from our creamy Jersey cow milk and hot bread he baked to make fondue. Then we will keep the sabbath from Friday night to Saturday night like He said to, and we will thank God for His provision.
The system is crashing because it is not good for us. Come out from their midst, my people, He says. So why wait? Do it while there is time.
Excellent