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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".
