Friday, October 03, 2008

money and banking troubles

Throughout my research and tidbits I have picked up lately, there is good reason to believe there may be a "banking holiday" next week or shortly thereof. If the house bill does not pass tomorrow it is almost assured there will be an event next week.

I have recommended in the past that you make sure your investments are secure by checking on them, and making sure they are in foreign currency, commodities, gold mines/futures, or other hard assets. I have recommended (based on research of others) to get out as much money as you can and put into gold, silver and other tangible assets. Quite frankly, even foreign currency is speculation at best, so gold is really your best option. Gold can be purchased in small denominations as small as $20-$100 sizes.

Today I am desperately encouraging you to take out enough money to last for a couple weeks. If nothing happens you can always put your money back in next month.

You can always read my blog at to see all the craziness I have been looking through. Regardless if you believe some of it or not, there is good reason to be cautious, have a plan, have some real money on hand (don't rely on checks, ATM or credit), and buy some tangible assets like gold if you can.

My previous two posts should be reviewed as well:

get ready for what may be a very rough ride in the next few days...

When faith is frayed - Financial Review time

The most important thing is DON'T PANIC even if something happens. A well thought-out plan of action is good to have around anyway, so use it, and know that everything bounces back. Even the worst of situations God knows what is going on, but that doesn't mean you sit back and hope some kind of rescue will happen by magic.

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