Thread: Put your money under a mattress !!!

Well it seems they have come up with the idea that they need to charge you to store your money in the bank. It's called negative interest rates. The Central banks have already started dropping from .35 to .50 in Sweden for example. The next step is charging you to keep money in your bank. Of course this sound sill right but it's already happening. Most banks disguise it as a charge and don't call it what it is and it will grow once people get used to the idea. They are still afraid people will pull their money out of the banks right away so they will ease into this.

This pisses me off and it should you too. They keep your money in their bank and charge you for it. Then they use your money to loan it to your neighbor across the street and charge him for it. Not to mention their system allows them to loan a lot more against your money than the amount it is. Part of the Fiat system. Anyway, I say if they charge you to keep it in the bank, don't. I bought a safe a long time ago and sometimes it's stuffed and right now it isn't :<0) But if I added up what I didn't have to pay in credit card interest and fees I bet it pays for my RAD. I also use only free checking and I don't even buy checks as I pay online. My last box of checks lasted me 8 years.

I remember when bank cards first came out and the ads of how convenient they are to use makes it silly not to use them. I watched many times as idiots would buy a $1.25 coke and use that card that (at the time) cost them $.50 to use each purchase. I only spoke up when they were so happy the Big Gulps were on sale. Then I couldn't help but point out how dumb they actually were for not using cash.

Some of you may have money to burn lighting cigars and great for you. Spend it how you like. But don't turn around and complain about the cost of the cigar :<0)

Here is the article :
http://www.nytimes.com/2016/02/13/up...ockethits&_r=0

My grandpa (Rest his soul).....NEVER trusted banks. He kept a little bit of money in an actual bank account. The rest or most of his cash he kept in his safety deposit box (small yearly fee) and some was hidden at his farm. Right before he died, he started to gift his cash to his 4 children and 8 grandchildren. I refused most of what he offered to me. He was my grandpa, but I figured my mom deserved what he was offering. He respected my decision. I was amazed at how much he had. And he worked damn hard to earn every penny...... And the banks and the government had no idea on how much money he had.

Banks are a business....to make money. And to use the money they have access to (our money) to make more money. Nobody ever got rich by just leaving their money in the bank. Unless it was huge amounts and they could live on the little interest the banks paid out.

Yea, banks up here have been a lost cause that way for decades. The interest you get on your money does not even cover the real inflation rate as opposed to the "official" inflation rate. Never mind paying tax on the interest so you are in a losing proposition before you even start. Add to that all the little fees they dream up too. It's not pretty.

Credit cards are fine as long as you pay your monthly bill in full. If you don't then you are the customer that they are looking for.

Bob

Valid point on safety deposit boxes. I may begin to worry about it a little more when I actually have enough cash to worry about.

Oh, don't get me started. I stayed out of my own thread (President of the US of A), but if we're going down this rabbit hole have a look at some Peter Schiff videos. America should rue the day Ron Paul retired. There, I said it. To the member who accused me of being an Obamalyte, how do ya feel now, buddy? Here's the video. At around 50 secs he states that the American people will stop spending and start rebuilding. If that is true, how do the banks make money? Here's the link:

https://www.youtube.com/watch?v=sgRGBNekFIw

Bueller... Bueller... Bueller....

What money?? I lost 2 jobs and my house in the "crash" of 2008. Living with the parents now.

Nothing new. About 30 years ago I moved to the big city and things were hand to mouth for a while. [A roommate stole a fifty dollar bill I had hid.] I had a checking account to cash my checks but after a while I finally had an extra $100 to start a savings account. When they told me it would cost $3.00 a month to keep it there until I hit the minimum limit I kept the money in my wallet and told them I would take my chances of getting hit over the head for it.

I been on a cash basis for 15 years now. I had 25k in a safe at 1 time but lawyers and X dwindled that down to nothing. I refuse to pay them to use my money and using cash gives me the sense of what I am doing , when I do it. Now you need some credit to buy a car or a house (so they have you believe) but if you save up for those things you spend soooo much less and have it paid off quicker. A little suffering goes a long way in the end. And there are better deals out there IF you can wrap your head around it.

Example::: What do you guys pay for Levi's ? 40, 45 bucks ? Plus the interest on your credit card. Bet you don't think about that :<0) I paid 21 dollars each for 6 pairs of 517s last 2 times I bought them. Now it sounds like a lot to spend $250 at Levi.com but they have 40 and 50 percent off deals if you spend that much. That's 125 divided by 6 < 21 dollars. Free shipping. Use pay pal if you don't have the cash and get 6 months interest free. Okay, so that's 21 dollars a month pfffff

And puketui41 it doesn't matter the politicians. Even a good 1 can't do much against the rest. The consumer has the power. That's what's bringing all this negative interest on. People are sticking to what they NEED and laying off the WANTS. Not to mention most are because the economy is in the tank. No matter how rosie the smoke smells they blow up your (*) if you have a job your not making near enough compared to the amount inflation has risen. Another word you don't hear on the evening news anymore but if you pay attention you can see what's going on.