Should we be pulling our cash?

[Anonymous]

Like bank bank? My money is not in the bank.

[Anonymous]

Keep a few thousand in $5,10,$20 bills, $100’s might be too hard to spend on small things in a systems down scenario

[Anonymous]

I posted yesterday about Trump causing a run on banks with his crazy antics making people scared, but I was told I was nuts.

[Anonymous]

Anonymous wrote:My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

at what point do you people look in the mirror and say to yourself that it’s time to get help for your mental health?

[Anonymous]

Anonymous wrote:Op-where are you located?

In Loudoun. My neighbor works at a Wells Fargo branch in Loudoun.

Just in case the systems go down, we now have enough to cover our mortgage, utilities, and necessities for 2 months. DH decided to take that amount out this morning. We don't bank with Wells Fargo, but DH did report to me that there were lots of people waiting at our bank for it to open this morning at 9.

And do I believe in FDIC? If you'd asked me Jan. 19, I'd have laughed in your face and said, "of course!" But today? Now? It's hard to believe in anything with Federal in the name with him in charge.

[Anonymous]

No, you shouldn't be "pulling your cash". Your friend is likely exaggerating, just like you said she usually exaggerates.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

at what point do you people look in the mirror and say to yourself that it’s time to get help for your mental health?

You can talk down to them, but whether you think they are wrong to be anxious or whatever, Trump injecting such anxiety into the market that we get a run on banks is going to be bad for you too.

[Anonymous]

I have some basic cash at hand and a small amount in my local bank. I did some money to my money market account so I have some liquidity in case the market tanks for a bit. I also plan on retiring in the next few years so that is also a reason why I am more liquid.

[Anonymous]

The things people say on DCUM

[Anonymous]

yeah good idea keep a lot cash in your house. im sure based on your political beliefs you are a strong 2A supporter and are able to protect all that cash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

What? Why? You don't believe in the FDIC? In an inflationary environment, you should have your money in the market and not hoard cash anyway.

You do know that the FDIC is one of this administrations targets, don’t you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My neighbor works at our local Wells Fargo branch. She texted me that they've been swamped all day with people pulling their cash. So much so that they hit their daily limit of cash on hand (didn't know this was a thing, btw). Several customers made requests so large that the money had to be ordered for withdrawal tomorrow.

Anyone else here work at a bank or have a relative who does? I'm trying to gauge what kind of response I need. This neighbor is very much an anxious, 'sky is falling' type of person. Like, when they call for snow, she STOCKS up and preps like we're getting 2 feet of snow because her motto for everything is "hope for the best, prepare for the worst."

So, if she's not exaggerating too much, what will this cause? Won't people pulling their cash cause a crash? And should I pull out some cash? Both my spouse and I are people who never have cash on them. I just had to swipe my card at my son's game this past weekend to get my kid a $0.75 bag of chips and paid a $2 cc fee in doing so

What? Why? You don't believe in the FDIC? In an inflationary environment, you should have your money in the market and not hoard cash anyway.

For now. Trump says he’s coming after FDIC too. Hopefully he’ll get distracted and forget.

I'm trying to find ways to protect our cash because of the low FDIC maximums. I'm not putting it under our mattress but I know Trump will come for the FDIC soon and then I think we all have a lot to worry about

[Anonymous]

Anonymous wrote:yeah good idea keep a lot cash in your house. im sure based on your political beliefs you are a strong 2A supporter and are able to protect all that cash.

The 2A nuts in CA are realizing that theft isn't the only way to lose your cash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op-where are you located?

In Loudoun. My neighbor works at a Wells Fargo branch in Loudoun.

Just in case the systems go down, we now have enough to cover our mortgage, utilities, and necessities for 2 months. DH decided to take that amount out this morning. We don't bank with Wells Fargo, but DH did report to me that there were lots of people waiting at our bank for it to open this morning at 9.

And do I believe in FDIC? If you'd asked me Jan. 19, I'd have laughed in your face and said, "of course!" But today? Now? It's hard to believe in anything with Federal in the name with him in charge.

If the US banking system collapses, I will not pay my mortgage or utilities, nor will 99% of the population. Banks that hold your mortgage will have other things to do than foreclosing on your home.

[Anonymous]

They just killed the consumer financial protection bureau. I would expect FDIC to be next.