Mar 28 2008

money’s gone, time to blow the popstand

Non-Borrowed reserves of US depository institutions (1950 – 02/2008) – Source Federal reserve of Saint Louis

And as for Wile E. Coyote’s future…  (hat tip to pluto)

13 comments

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  2. You would hardly be the first to do so.

    • Pluto on March 28, 2008 at 08:16
    • #

    Heh. I see you’ve pulled out all the stops, Kiddo.

    I’ve been using tiny snippets of that info, but I’ve refused to provide a link, so far. Maybe this is the best way. Leave a trail of breadcrumbs.

    I’ll say it again.

    Folks, get some of your money in Swiss Francs or Euros right now. You can open a foreign “asset checking account” at Everbank.com World Desk for as little as $2500. It’s a US bank and it’s FDIC insured.

    Please use any extra money or savings to buy (a lot) of food right now that you know you’ll be eating this summer and fall.

    You don’t want to be in the stock market.

    There, Stonemason. Feel better?

  4. Wile. E. Coyote indeed.

    So basically, does this mean the US banking system is insolvent?  

    • shpilk on March 29, 2008 at 02:33
    • #

    it’s a testament to how resilient the American economy was, that it took this long to happen.

    Happen, it has.

    http://www.berkeley.edu/news/m…

  6. Euro’s. Can I take my savings out and go somewhere with it in person to buy Euros. I am not comfortable with net only financial transactions. Can your bank do it? We transfered our savings a while ago to OnPoint which is a credit union started years ago for teachers in Oregon. Some of the money is in their version of a money market, only it invests in the community not stocks or corporations.

    We all can’t blow this popstand, we have families and not enough to retire. Not suburban here, we have good bikes and pretty much don’t drive. Community is another option/solution rather then fleeing. In my youth I lived without heat,other then a wood stove, phones or a car. A wagon works good to haul your stuff and barter is as a system that has worked for eons.      

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