bank run – The Burning Platform

BANK RUNS, BAIL-INS? IT COULD BE TIME FOR YOU TO BAIL OUT!

I found the last section of the article “Are U.S. Banks About to Stress Out?” particularly interesting.

It’s not discussed in the article but I would assume that bail-ins are going to be associated with some kind of bank holiday similar to what happened in Cyprus and Greece as opposed to being a singular event. Either way I’d encourage people to maintain a stash of small denomination bills outside of the banks and credit unions. A couple of months worth of expenses in 1’s, 5’s, 10’s. Throw some twenties into the mix but sparingly as change for 20’s, 50’s and 100’s will likely be in high demand.

If you have debt, payments on that debt will still be due on time even if the banks are closed so keep a couple months worth of debt payments in the larger notes on hand as you should still be able to purchase money orders and mail them in on time as verified by the post mark on your payments.

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