Hugh, Every small fire resistant safe I’ve found has a warning that the fireproofing material emits moisture, and they recommend putting papers in plastic to protect against mildew and rot. They also recommend airing the box out periodically, which might be difficult if it’s cached someplace. We use our Foodsaver to protect against this. Just wanted to mention it in case someone doesn’t read the instructions that come with the safes. Regards, – P.T.
U.S. national debt is more than all the world’s physical cash, gold, silver, and bitcoin combined. – B.B. o o o Central Banks May Choose Helicopter Money Over Negative Rates o o o Case For -2% Rates, Banning Cash? Jim Grant Blasts Lunatic Proposals – DSV o o o An Explosion of Global Debt. Excerpt: “Whether we talk about Greek, Spanish, French, Italian or German banks, their balance sheets are all lumbered with billions of toxic assets with the only buyer being the ECB. This is why the current ECB printing program will not end in March 2017 but instead …
Hugh, A caution to those storing cash at home: Those “fire-proof” lock boxes are only relatively fire proof and are typically rated for temperatures up to 1000F for up to 20 minutes. High temperatures for long periods will completely destroy them. A severe house fire can easily exceed 1000F and take hours to extinguish. The best place to keep them is in a basement or crawlspace, which tends to remain (relatively) cool even in a devastating fire. Regards, Don in Oregon
Major Problems Announced At One Of The Largest Too Big To Fail Banks In The United States – W.C. o o o Iranian oil output stagnates for third month amid OPEC bargaining o o o Oil Markets Brace As U.S. Looks To Sell 100 Million Barrels From SPR. Aging infrastructure could render the U.S. strategic petroleum reserve (SPR) increasingly ineffective, leading to a potentially smaller reserve in the near future. o o o From steaks to furniture, Hanjin Shipping collapse to raise freight costs o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see …
Police seize over 5,000 ounces of silver from man’s home o o o The Six Presidents Causing US Bankruptcy – A.D. o o o Gold Could Blast Through $1,350 And Be $1,500 In The Blink Of An Eye o o o Latin America’s Pink Tide Crashes on the Rocks o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see our Provisos page for details.
Why You Should Be Paying Attention to America’s Quiet War on Cash – DSV o o o 5,300 Wells Fargo employees fired for creating over 2 million phony accounts – P.S. o o o Hanjin Bankruptcy: a Harbinger for the Global Economy? – B.B. o o o Hanjin Shipping’s Troubles Leave $14 Billion in Cargo Stranded at Sea o o o Are they serious? First picture of four-bed house that jobless couple with eight kids slammed council for offering – P.M. o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see our Provisos page …
IRS Warns Against Keeping IRA Funds In Gold At Home – J.C. o o o Negative Interest Rates and the War on Cash (2) – H.L. o o o This One Chart Should Drive Investors Into Buying Gold & Silver o o o Worse Than the Depression: 1 in 6 Working Age Males Has No Job Under Obama – B.B. o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see our Provisos page for details.
Recently, I discovered the last local bank in the area is being bought by a bank with eight times more exposure to derivatives. As I attempted to explain the dangers of this increased exposure to my family one evening, I realized my father may have more than the current FDIC insured limit stashed in this one bank. In an attempt to make the case for him to at least spread out his savings, I have been researching the many reasons he should consider changing where his money is kept. I believe it is important for everyone to recognize the danger …
When they say ‘hoarding’ instead of ‘saving’ you know you’re in trouble o o o Cash in a Box Catches On as Swiss Negative Rates Bite – G.G. o o o Items from Mr. Econocobas: Sorry Losers! how the Fed Screwed the Many to Benefit the Few – From the folks at Peak Prosperity, good read for sure Cash in a Box Catches On as Swiss Negative Rates Bite o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see our Provisos page for details.
10 Lessons From Venezuela’s Economic Collapse – J.C. o o o Obama Kept His Promise, 83,000 Coal Jobs Lost And 400 Mines Shuttered – DSV o o o Limited Spare Capacity Could Lead To An Oil Price Spike o o o Sorry, Krugman: Austerity Is Good for the Economy o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see our Provisos page for details.
The Fed may be preparing for the unthinkable — negative interest rates in America – B.B. o o o Global Recession? The Canadian Economy Shrinks At The Fastest Pace Since The Last Financial Crisis – H.L. o o o Bloomberg: Abolish Cash to Create a Freer Market. Excerpt: “Some Bloomberg editorials are stranger than others. This one is especially strange because it argues that banning cash will create a stronger, freer market.” – B.B. o o o Is Putin’s Support For An OPEC Freeze A Game Changer? – Oil prices bounced on Friday morning after Russian President Vladimir Putin expressed …
Conor Sen: Conditions Are Ripe for a Big-City Exodus o o o Which shipping company is next to fall? People should view this as a canary about the decline of the global economy. Hanjin Shipping bankruptcy unlikely to ease glut of ships – P.S. o o o OPEC Pumps Record Crude In August o o o Yet another example of consolidation of ownership at a local level. McDonald’s Is Pushing Out the Small Fries o o o The Ethics of Entrepreneurship and Profit o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see our …
There is approximately $17 trillion sitting in retirement accounts, 401ks, and pensions. Sources of liquidity of such magnitude are certainly at risk in the face of the upcoming financial crisis. The U.S. government, its central bank, and its entire financial and banking system are about to face a massive shortfall for cash. In 2008 the bailout required via TARP was $700 billion, and estimates of backdoor easing and bailouts are in the tens of trillions, or more, not to mention the confirmed and admitted trillions in Federal Reserve off balance sheet transactions. This time the bubble is many multiples …
Hugh, August proved to be an eye opening experience regarding “Big Brother” and the banking system. We recently sold our home in a large metro area to move to our own redoubt in an adjacent county. During the underwriting process for a mortgage, the banker asked which bank has the money we identified as savings? Our savings was in physical cash, however, the bank underwriters won’t accept this when applying for a mortgage. The mortgage originator instructed us to get the money in our checking account. We proceeded to deposit cash every few days for a month. A couple of …
US Factory Orders Tumble For Longest Streak In History – B.B. o o o The Sinister Side of a Cashless Society – G.S. o o o Solid Hiring Without Wage Jump Tests Fed Hopes for Inflation o o o SurvivalBlog and its editors are not paid investment counselors or advisers. Please see our Provisos page for details.
