Two Letters Re: Tomorrow’s Headlines? — A Nationwide Banking Panic

Hi James, First, thanks for sharing Mike [“Mish”} Shedlock’s recent article with the SurvivalBlog.com community. Like you, I’ve grown to trust his observations and analysis and I read his work as often as I read yours – daily. I wanted to add a couple of comments, which will strengthen both Mish’s and your viewpoints concerning your observations on the potential for a nationwide banking panic. First – is that [as mentioned,] the FDIC is preparing for this crisis right now, by hiring back some retirees, with specific experience in dealing with bank failures, as they are expecting a large number …


Odds ‘n Sods:

Matt Bracken suggested this economic commentary with a preparedness message by James Macfarlane: The Thin Red White & Blue Line. Matt’s comment: “Make sure to read to the “What to Do” section at the end of the essay.” Macfarlane’s essay ends with this: “The wisest words I heard lately are these: In the next few years it’s not going to be about where you live, but about whom you live with. Make friends with your neighbors.”    o o o Krys in Idaho found this ABC News piece for us: Everything Seemingly Is Spinning out of Control. A comment from …



Note from JWR:

Today we present a guest article from Mike “Mish” Shedlock, a registered investment advisor representative for SitkaPacific Capital Management. I highly value his investing analyses and his “big picture” view of the global economy.


Two Trillion Dollar Reduction In Credit Card Lines Coming Up, by Mish Shedlock

Credit is drying up everywhere. Banks are now concerned (finally), about rising credit card debt. They have every reason to be. The bankruptcy reform act of 2005, which encouraged such reckless lending is now blowing up in lenders’ faces. Banks and credit card companies wrote that bill. They got everything they wanted. It goes to show you two things: 1.) Be careful of what you ask, you might get it. 2.) Greed kills. Furthermore, I expect many of the debt slave provisions of the bill to be undone after Obama is elected. That will increase defaults. Even if an unwinding …


Tomorrow’s Headlines? — A Nationwide Banking Panic

Since September of 2007, I’ve been warning SurvivalBlog readers about the potential for bank failures and bank runs in the US, spawned by the unfolding global credit collapse. I am now raising my warning to multiple red flags. There are certainly some ominous signs. These include: New banking scrutiny–especially for investment banks. Plunging bank reserves. A few more bank failures this year than in a typical year. A record increase in “bank owned” (foreclosed) houses. New FDIC rules on assessing risks at major banks.To be ready for bank runs, the FDIC has even re-hired some former employees from its division …


Odds ‘n Sods:

Hawaiian K. mentioned a glow-in-the-dark paint product. This could have numerous uses at a retreat, such as painting firearms front sights. In my experience, luminescent paint is quite useful for painting light switch plate covers.    o o o There are now just 10 days left in BulletProofME.com’s special sale on Interceptor Body Armor and Kevlar helmets, just for SurvivalBlog readers.    o o o Chris Laird predicts economic and political trends by following precious metals market behavior. In Dangers – Danger period 2008 and 2009 posted at the Silver Bear Cafe. Laird writes: “…the US, the world’s biggest grain …


Jim’s Quote of the Day:

"A nation is the more prosperous today the less it has tried to put obstacles in the way of the spirit of free enterprise and private initiative. The people of the United States are more prosperous than the inhabitants of all other countries because their government embarked later than the governments in other parts of the world upon the policy of obstructing business." – Ludwig von Mises


Note from JWR:

Please continue to spread the word about SurvivalBlog. There are still a lot of preparedness-minded folks that have not yet heard about the blog. Links in your e-mail footer and/or at your web page or blog page would be greatly appreciated!


Letter Re: Advice on Storing Sterno-Type Canned Fuel

Dear Jim, Does Sterno style fuel have a shelf life? I have come across two cases (48 cans) of Don brand Heat Wick (WX-6) six hour fuel – the type used in catering. The price for the lot is $5. Seems like it’s too good to be true. Is it worth it? Are there special storage issues involved with this type of fuel? Thanks for all the info you put on your site every day. I am using it to get my family ready! Thanks again, – Beth F. JWR Replies: That is a great price! The cans should last …


Letter Re: Stocking Up on Socks and Underwear

Jim After stocking up on beans, bullets, and band aids, I recommend putting in a decent supply of socks and underwear for the whole family. One can get used to wearing old, worn out clothes in TEOTWAWKI, but socks and underwear can be like gold–to help one retain a bit of dignity and morale in a grim aftermath world. Ask any vet how important a pair of clean, fresh socks meant to them. – Ron in Upstate New York JWR Replies: In addition to dignity and morale, they are also crucial hygiene items. Every family member should have a three …


Letter Re: Salt Intake

JWR: A friend and I went to a Civilian Marksmanship Program (CMP) match last weekend. It was a good clinic to learn how to hit a long distance static target. (Cough.) Say what you will about how useful that it, I think that learning many different techniques for doing a thing gives you a better understanding of the thing. In this case marksmanship. On to the point. We both ended up drinking three liters of water over the course of the day. The next day I could barely balance, couldn’t eat, was mostly incoherent (felt stupid). I drank water for …


Odds ‘n Sods:

Some guys have all the luck! Commander Zero featured a link to blog by a gent who recently discovered a forgotten 60 foot long Nazi underground tunnel in his back yard. A brief video shows the excitement of the discovery.    o o o FerFAL (SurvivalBlog’s correspondent in Argentina) has posted some observations on a recent home invasion robbery incident in Martinez, Argentina.    o o o Frequent contributor Bill N. flagged an interesting article about growing your own fuel for a low speed diesel engine.    o o o Jack B. spotted this piece in The Financial Times: Security …


Jim’s Quote of the Day:

"God made Sun and Moon to distinguish seasons, and day, and night, and we cannot have the fruits of the earth but in their seasons: But God hath made no decree to distinguish the seasons of his mercies; In paradise, the fruits were ripe, the first minute, and in heaven it is alwaies Autumne, his mercies are ever in their maturity. We ask panem quotidianum, our daily bread, and God never sayes you should have come yesterday, he never sayes you must againe to morrow, but to day if you will heare his voice, to day he will heare you. …


Note from JWR:

The following is another article for Round 17 of the SurvivalBlog non-fiction writing contest. The writer of the best non-fiction article will win two valuable four day “gray” transferable Front Sight course certificates. (Worth up to $4,000!) Second prize is a copy of my “Rawles Gets You Ready” preparedness course, generously donated by Jake Stafford of Arbogast Publishing. Round 17 ends on July 31st, so get busy writing and e-mail us your entries. Remember that articles that relate practical “how to” skills for survival will have an advantage in the judging.