Bank vs. Credit

Discussion in 'Money, Investing & Precious Metals' started by Tom, Oct 26, 2008.

  1. Tom

    Tom Guest

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    Who do you think would be a safer bet in a very bad economic downturn?
     
  2. green girl

    green girl Member

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    At this point? Still waiting to see the bottom of the market. Most of my investments not in RRSPs (Cdn) are pretty much in cash. Funny to be saying it on this forum but I think the best bet right now is in land you can live off! Its hard to say when the markets will be anything but a sucker's bet for those us with thousands instead of millions. And when the markets do stabilize, I'll still be looking at long term investments (10-20 years). Been thinking that it might be better to get into business with people/companies, rather than investing in stock. But that's a steep learning curve.

    I would like to know a better real value for a barrel of oil. This bouncing around is crazy. And feels mighty artificial now. Scientific figures of supplies and production rates would be nice. To start anyways. I'm 40 mins away by car on backroads from my farm. I wonder how expensive it will be to get there in the future.
     

  3. The_Blob

    The_Blob performing monkey

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    maybe pennies, if you convert an older (larger) car or pickup to a PEV... of course the initial expense is daunting, but not overwhelming.
     
  4. Canadian

    Canadian Well-Known Member

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    Close your safety deposit box and buy a safe. Keep all your money at home in the safe with just enough in the bank to cover bills etc. The bank is the last place you want to keep your money. If the electricity goes out credit and bank cards are useless.

    If the bank decided to hold your money and not open to the public for business you'll never get your money out. There's no point to the bank. They don't pay any interest anyway. You bank could go out of business any time. If you keep your cash at home you can make a withdrawl any time you want.
     
  5. The_Blob

    The_Blob performing monkey

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    just make sure the safe is too big to move easily, otherwise it defeats the pirpose of safeguarding valuables... IMO of course ;)
     
  6. Canadian

    Canadian Well-Known Member

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    Modern safes bolt directly into the floor of your home.