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Fresh off the press.

Krunoslav 9 Mar 24
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I just dumped US Bank and put my money in a strong, local Credit Union. Not sure that even matters as the value of the Petro-Dollar seems to be dropping a lot these days.

Well, if you have dollars or anything related to dollars, you really don't have much control over it. Since inflation will eat them away even if they are under the mattress. Ideally, you would invest in physical gold and silver, family and friends, and other things that actually will help you create value and support yourself. Not nescerally in that order, but that is the risk. All fiat currencies linked to the dollar are on life support now and it’s not a matter if, but when it will be printed to oblivion.

Having cash is slightly better than keeping it in the bank in the case of ever-present threat of a bank run, but inflation is tax on the purchasing power so no matter where it is, if the central bank controls it, it’s not protected. Also three is a trend to let smaller local banks fail and protect the big banks that are systemic risk. This centralized the power , but to extend the inevitable collapse of the big banks they have to pump in more dollars into the system to bail them out, meaning more inflation more devaluation of currency. Inflation after all is taxation withough legislation. So taxpayer indirectly is used to bail out the big banks, while the politicians and cronies line their pockets before the collapse.

Physical ownership of previous metals such as gold and silver has historically been shown to be good hedge against inflation and wealth preservation, but not everyone can afford it, so next best thing was real estate and similar tangible goods, but now release is part of everything bubble, so unless you own land its hard to buy it and make a profit , also maintenance cost etc is a problem. There is some luck for those with fixed mortgage rate vs variable one, but that eventually will also collapse as the banking system collapses.

Petro dollar is pretty much dead man walking with the OPEC deciding to use other currencies and not just dollars, Once petro dollar is irrelevant for projection of power, next up is dollar as world reserve currency and than dollar as domestic currency. Probably it will happen in that order.

Credit unions and community banks worry Fed moves will squeeze their customers

As the Fed announced the ninth-straight interest rate hike, neighborhood banks feel pressure to keep customers.

[inquirer.com]

0

Nothing but protecting the woke and the contributors to the Demos.

If you put all your money in one place and it burned down, you lose. Piss off. If you put more money in an insured account than the level of insurance, and .... piss off.
You do not deserve my protecting you from your inborn or brainwashed stupidity. Piss off.

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