Note from JWR:

By now, most of you have read read that following the spectacular failure of IndyMac Bank, two (effectively, three) more US banks have failed. Clearly, the dominoes are staring to fall, just as I presaged.

The pace at which the wave of bank failures continues is difficult to predict. It depends on a lot of things including public sentiment, which is largely influenced by mass media spin. This could get very ugly, very quickly, so be ready. If you didn’t take my advice months ago, I most strongly suggest that you set aside a reserve of two months worth of greenback cash to cover your regular expenses, post haste! Your banks doors could soon be locked, ATMs shut down, and your online banking services “temporarily suspended.” OBTW, to keep track of subsequent bank failures, see this FDIC web page. And our friend Todd sent us a link to a web site that is already familiar to many SurvivalBlog readers: Implode-o-Meter. It lists all the US banks that have failed since 2006 and has a list of “ailing banks”.