Banking… how things have changed

[Jstpssng]

I only have about 20% of my portfolio in gold, but it looks better and better with each additional trillion this country goes into debt.

The difference between you and some people is that you have gold; many others have a piece of paper saying that they have gold.

 

[WM75Guy]

I don't have an issue with BOA, other than it is 40 miles one way to the closest branch. But most of my banking is electronic, so it really isn't a big deal. I deposited a $60,000+ check in my BOA account last week using my phone app at 5pm. The funds were available the next day. A quick turnaround is possible, if the bank wants to do it.

 

[Hay Dude]

I was a loyal wells fargo customer for 30 years. Than 2 years ago i closed everything and have all my accounts in 3 different credit unions, including my business acct.

i just lost all faith in big banks. All accounts are still fully insured, and rates are better. All accounts are fee free. The cd’s are paying over 5%.

plus one credit union just opened a branch 5 minutes from my place. Never been happier.

Wells Fargo holds my home mortgage. Getting rid of it/them couldn’t come sooner.

 

[Hay Dude]

The difference between you and some people is that you have gold; many others have a piece of paper saying that they have gold.

True.
I have a physical gold and silver SEP IRA as well as gold (and silver) on hand at home.
I do also have a SEP IRA that invests primarily in gold & other precious metals, but it’s a smaller account.

 

[ultrarunner]

The difference between you and some people is that you have gold; many others have a piece of paper saying that they have gold.

One old guy since passed with no children amassed over a million in value from US silver and gold coins…

His nephew inherited quite a haul… just bullion silver coins and eagle and double eagle gold… said he didn’t trust banks!

 

[2manyrocks]

I have read that in the early days of the US, it was a capital offense punishable by death to debase the currency.

 

[MossRoad]

We don't but it could be because police cars are broken in and or have been torched at the station so not really a safe part of Oakland...

When I sold a tractor the buyer traveled several hundred miles and at the last mile had a sinking feeling he had been had pulling off the freeway.. almost turned around.

Anyway, he made the last mile and I saw him out front in his truck... so I went out and exchanged greetings. He said where is the tractor and I said out back.

It was only later I learned he nearly turned back... what a difference a mile makes.

I realized what a difference a mile makes a long time ago. Wife and I were dating, probably around 1980. We drove through Benton Harbor, MI and it was a ghost town. Abandoned and empty buildings, dilapidated houses, etc. We crossed a bridge over the river into St. Joseph, MI and the town was vibrant, flowers in the boxes, thriving. Honest to goodness there was a brass band playing in the park. Only physical thing separating those two towns was the river.

I won't go into what happened and why the towns were so different. At one time, they were both the same.

Anyhow, great strides have been taken since then, and Benton Harbor has done an impressively good job trying to turn things around.

 

[two_bit_score]

Credit Union said to swipe twice filling my truck so OK.

When I swiped twice two days in a row buying gas my debit card was declined for possible fraudulent activity… go figure.

Talk about 'can't win for trying'.

 

[two_bit_score]

One old guy since passed with no children amassed over a million in value from US silver and gold coins…

His nephew inherited quite a haul… just bullion silver coins and eagle and double eagle gold… said he didn’t trust banks!

I bet he lived very frugally too.

 

[Hay Dude]

Name brand stocks like Apple..Amazon..MS...Nvidia...even Tesla...put that percentage to shame.

I bet you own them all too, right r!ppy?
How about InBev stock? Disney stock?

You talk big on them when they plummet in value?

Easily converted you say? Depends on what pawn shop you go to.

Even jewlers have issues with karats.

Pawn shop?
You clownin me holmes?
I don’t do pawn shops.

Like I said, it’s about 20% of my portfolio. Plenty of S&P 500, money market, bonds in there, too.