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Which bank (or credit union) should we put our money in?

Apparently, Washington Mutual stock is now below $2 a share which makes me pretty uncomfortable considering all of my money is at Washington Mutual.

http://biz.yahoo.com/rb/080911/washingtonmutual.html?.v=1

But then I look at bankrate.com and they gave Washington Mutual their highest safety rating.

http://www.bankrate.com/brm/safesound/rating.asp

And the credit unions have bad ratings.

http://www.bankrate.com/brm/safesound/rating.asp

Whether you have a lot or a little, where's a good place to put your money these days?



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Bob Chapman of the

Bob Chapman of the International Forecaster is a regular guest on AJ's show and he always says to keep money in gold and silver assets or Swiss franc gov't bonds. Also, he states not to keep more than 5-10K in cash if possible.

For more info: http://theinternationalforecaster.com/

Local banks are better than the big banks

for a variety of reasons...the biggest reason being it deflates the global usurists and inflates your local community.

why any bank or credit union?

So it can sit idle (drawing little to no interest) and depreciate to nothingness, devoured by inflation? POOF..............

Sorry, I just can't understand why people put their "trusts" in any banking
establishment....same goes for credit cards

Which bank

Given the outrageously low returns on savings you might want to try the Piggy Bank. And while you're at it, you might want to see if you can buy some junk silver coins at today's bargain prices and put those in your piggy bank.

As far as a checking account or similar, I would choose a local bank whose officials you can contact personally and into whose office you can walk if there is ever an issue. Only put as much there as you need to lubricate current financial transactions.

If you are very rich, then you are out of my league, and I suggest you pay for some professional advice.

I can agree with that after

I can agree with that after the long conversation I had yesterday with my nice, local neighborhood bank official. ALL checks and ALL electronic transfers are routed through the FEDERAL RESERVE. ANY bank who has FDIC insurance (all of them) are run by regulation after regulation from the Federal Government. There is little any of them "can do" to reverse erroneous electronic transfers of your money, and a whole heap of other stuff. Banks consider the federal reserve as part of the federal government. There is no difference to them. They are giving so little interest for your money, I think the thing to do is stick it all in a safe deposit box, and put it in the checking account only as you write checks on it. Even then, it is horribly unsecure. Did you also know that NO bills are available at banks larger than $100? They just do not expect Americans to be able to walk around with even a $500 bill. This is so much worse than we have seen...and a whole lot more conspiratorial.

Get A Good Safe

Bolt it to the floor and wait out the mess that's ahead

Keep your cash on you.

When the markets crash, which we know they will, the banks will run out of money when everyone runs in on them. They'll be a huge spike in demand for FRNs. Whats going to happen is that everything will deflate at the same time as the markets crash, market forces will force the realignment of prices toward the actual supply of FRNs floating in the market. With the banks providing none (because everyone took out there money) the fractional reserve system will be going in reverse taking out huge loads of money from the banking system. At the same time, prices will drop because of the high demand for FRNs and high supply of items (not enough money in the market to purchase them) will make any existing FRNs (not digital ones) something everyone is looking for.

So the old saying about keeping your money under the mattress isn't such a bad idea. ;)

I reserve the right to govern myself.

I reserve the right to govern myself.

What are FRNs?

I'd be too afraid to keep my money in a safe in my house. I know I'd lose track of how much I spent. Plus, I want to start a Roth IRA and that's kind of hard to do in a safe.
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"We will never give up. We will never give in." - Dr. Ron Paul

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"We will never give up. We will never give in." - Dr. Ron Paul

FRN=Federal Reserve Note

FRN=Federal Reserve Note (commonly referred to as money)

i think bob barr

should start a bank for us.

but i want free checking!