Unbanking vs. Underbaking - How to Break up With The Financial System. ~Repost~

[gunnerbob]

Unbanking vs. Underbanking - How to Break up With The Financial System. ~Repost~

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Personally, I go with underbanking. What do you do?

 

[BC1]

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Personally, I go with underbanking. What do you do?

Good article. I'm contemplating what to do right now. The Cyprus situation gives me cause for concern. I don't trust BO. I don't have any trust in the rocket scientists that twist our currency. Our stock market is way out of wack with reality. Stock values are inflated and are not representative of the true value of the companies we invest in. One thing I did do was convert cash to real-estate. Excess cash that could be subject to confiscation (tax) is out of harm's way, yet can earn money in rental income. I encourage people to dump their debt. Make every effort to pay-off real estate and credit card bills. Owe no one and you're beholden to no one. Can you imagine the goverrnment imposing a confiscation tax on money that could have been used to dump debt? While gold is an option the prices are ballooning which also concerns me. While it will always have value it's impractical as a currency. You can't buy groceries or a car with it. I recently told my wife this is the first time in my life I don't know what to do with our money.

 

[Steve Kittel]

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Personally, I go with underbanking. What do you do?

I'm starting to do the same...the latest crisis in Cyprus was the final wakeup call....no point keeping money in the bank if they arent paying any interest for it, and if it's not under your controls, it's not yours... Unfortunately, unless you work for a company that doesn't require direct deposit, or have another way to pay your bills, underbanking is the minimum for our current society. If you have the "luxury" of owning your own land and raise your own food, then you can use cash for almost everything else.

 

[gunnerbob]

Good article. I'm contemplating what to do right now. The Cyprus situation gives me cause for concern. I don't trust BO. I don't have any trust in the rocket scientists that twist our currency. Our stock market is way out of wack with reality. Stock values are inflated and are not representative of the true value of the companies we invest in. One thing I did do was convert cash to real-estate. Excess cash that could be subject to confiscation (tax) is out of harm's way, yet can earn money in rental income. I encourage people to dump their debt. Make every effort to pay-off real estate and credit card bills. Owe no one and you're beholden to no one. Can you imagine the goverrnment imposing a confiscation tax on money that could have been used to dump debt? While gold is an option the prices are ballooning which also concerns me. While it will always have value it's impractical as a currency. You can't buy groceries or a car with it. I recently told my wife this is the first time in my life I don't know what to do with our money.

Do you have live stock? Get some. Do you have a well dug? Get one. Do you have fuel storage? Get some. Solar panels capable of recharging batteries? Get some. Is your property completely fenced in? It should be. Any home improvement projects you've been putting off? Do them now. Do you have fields for crops? You should. Do you have a tractor? Get one. Do you have hand tools for every job? Get them. Do you have fluids for your vehicles(oil, radiator fluid, etc)? Get some. Spare tires? Get them. Do you have extra building material(2x4s, 4x4s, plywood, etc)? Get some. I could go on and on BC... point is, money is not wealth... it's the illusion of wealth. Tangibles do not always mean precious metals, it's anything and everything EXCEPT fiat currency. Your investments should include everyday items, things that stay good nearly forever... something as simple as various assortments of nails. Get out of the dollar as much as you can.

 

[gunnerbob]

Why Gold Is Money | Zero Hedge

 

[Austin]

Some good points by Gunnerbob.