So my take away from this is that the Republicans are stealing our tax dollars, they’re stealing our Social Security, and now they’re going to come and steal our savings accounts. Have I got that right?
You’ve captured the pattern. What’s happening isn’t theft in the traditional sense—it’s policy-driven redirection of risk and resources from the public to the private elite. Social Security, deposit insurance, financial oversight—it’s all being stripped down under the narrative of “efficiency,” but the cost always lands on ordinary people. Calling that out clearly is critical.
I have been reading and following since the first article that terrified me. I shared with friends/family. They were reluctant, so I will send them this. Thank you so much. I am heeding your advice. So sinister, so destructive. This administration truly seeks to destroy US! Retribution for sure!
What in God’s and Humanity’s name can we do about it to stop it? Trump and his evil monkey’s are scaring the crap out of me…Is there a way to prevent it before it is too late?
I’ll tell you what I’m gonna do. I’m gonna call Congress tomorrow. I might not get through, but if there’s a recorder. I’m gonna leave a message. I already have some notes written down on what to say.
I urge you to read Civil Resistance: What Everyone Needs to Know. I think the case for a resistance that does not kill or harm people physically is compelling.
Maybe I’m not asking the correct question here but … anyone with a finance background have any insight as to where our money would be secure at this point? Where should we be looking into?
The extremely rapid breakdown of US institutions is laid out in project 2025 but what is allowing it all the happen was the 2024 election. The election which gave republicans control of everything. The election where the president was sure that he would win long before election day. Not confident - sure.
Election truth alliance has been checking out the voting machines since January. They just finished with Pennsylvania and found manipulation Have you looked up Greg Palast he’s an investigative reporter. He found votes were removed from Kamala and given to Trump. Check them out so you can get caught up.
Good idea! She knows her stuff. I imagine that she could find many actual economists, unlike those deregulating, that could add much valuable insight.
I wonder, is something like the financial crisis in 2008 something that is planned? Maybe as a farewell gift if republicans doesn’t win the coming elections?
Update: I heard from Senator Warren’s office. My concern had been elevated, casework has my question. I will be contacted, and will post when I hear back. Thank you Senator Warren, and staff, I very much appreciate your help and insight. I am a Californian, not a Massachusetts resident and appreciate your attention, it will not be forgotten!
Great question. It does seem counterintuitive at first. The key difference is that Treasury bills are direct obligations of the federal government—essentially short-term IOUs that are repaid with priority. Unlike bank deposits, which are subject to regulatory changes or institutional collapse, T-bills are backed by the full faith and credit of the U.S. and bypass the banking system entirely. They're less about trusting who’s in charge and more about leveraging the fact that governments—even flawed ones—rarely default on their own debt.
Great observation. Countries like China and Japan have been reducing their T-bill holdings for a while, but it’s important to understand why. Often, it reflects shifts in trade balances, currency strategy, or geopolitical tensions, not necessarily a lack of faith in repayment. That said, some nations may also be responding to perceived political instability in the U.S. especially as economic policy becomes more volatile and election cycles grow more extreme.
But even then, they’re not fleeing to crypto or banks—they’re just rebalancing. T-bills are still repaid first, and they bypass the institutions currently being hollowed out. That makes them uniquely insulated, even in moments of uncertainty.
Great question, Tracey. If the dollar were to completely collapse, no investment would be truly “safe,” not cash, not stocks, not even real estate in some scenarios. T-bills aren’t immune to currency devaluation, but they’re structured to be prioritized and repaid first, even in crisis. They’re not about betting on the strength of the system, they’re about minimizing exposure to that system breaking down. It’s not about being invincible, it’s about being the last thing to go if everything else starts to fall.
What makes you think it’s safer to have our money in local credit unions instead of FDIC-backed banks? Didn’t they take over the NCUA when they took over the FDIC?
If the value of the dollar crashes how will T- bills be worth anything? How would cash be worth anything? And if the gov't intends on making pymts from them electronic ( crypto?), is that the form we would be getting future tax refunds in? Or SSI pymts?
Sadly I would not trust the government to honor them if things go sideways. They won’t say no… they’ll just introduce a new law or order preventing payment.
It’s totally fair to feel skeptical about long-term guarantees right now. But T-bills are structured differently than Social Security or benefits. They’re debt instruments, not entitlements. Refusing to pay them would collapse the global credit system. Could something unprecedented happen? Sure. But from a risk hierarchy perspective, they’re still the last thing to go down, especially compared to uninsured bank deposits or digital assets dependent on deregulated intermediaries.
Everyone - Please, please, please read or listen to Edward Griffin’s book “The Creature From Jekyll Island”. This is a story about the history of banking and money throughout the world with an emphasis on the worlds central banks, their relationship with the government and their role in the creation of money. What we are now going through politically and socially has much historical precedent. This is
written in understandable English in a who done it sort of way. It is a long book, about 22 hours on audible, that is 4 books in one. It has given me a great understanding of what we have gone through, going through and will go through. You will understand how banks make money, how inflation blooms and the predatory nature of the relationship between large banks, the Federal Reserve ( neither a federal agency nor holding any reserves) and our politicians. It will be worth your time…
Griffin’s book helped open a lot of eyes to the consolidation of financial power, even if some of its conclusions veer into less grounded territory. What’s important now is connecting historical patterns to what’s unfolding in real time. We’re watching a coordinated restructuring—not just of how money moves, but who gets to decide the terms.
Another step in the master plan to control our money. The Treasury Dept under Bessent is suspect and this is extremely disturbing. Recall DOGE went after the Treasury Payment system as their first foray into identifying waste, fraud and abuse. The Treasury Payment System is the ‘head of the snake’ to accessing the government’s funds and it is not surprising they want to consolidate control under Treasury.
Next they will revalue the gold and devalue the dollar and restate GDP then shift everything to crypto.
Thank you for this article. I wonder when Congress will wake up. They have been AWOL thus far claiming ignorance on DOGE doings with Social Security - a veritable cash cow of $2T that they would love to privatize. Hmmmmm
Yes—this isn’t just about banking mechanics. It’s about control. Treasury’s move to centralize payment infrastructure, especially under Bessent, fits squarely into the Project 2025 playbook. DOGE was a test balloon—what seemed like a crackdown on fraud is now being used to quietly restructure how oversight is defined and who it’s meant to serve. We should all be watching the “consolidation under Treasury” far more closely.
Musk is creating xAI, which is similar to China's WeChat. The Chinese have to do everything through it. Finances, scheduling, social media, etc. xAI + crypto = total control.
Now I understand. Everything is coming under the control of the executive branch of government. They don’t intend to give up their power. No one dismantles the political, economic and government structures of a country just to give it up in four years in democratic elections. They don’t intend to leave in four years.
Yes, that’s exactly it. You don’t dismantle a system just to hand it back. Project 2025 isn’t a policy reset; it’s a power consolidation plan. And the longer it stays quiet, the more permanent it becomes.
Smaller local banks and credit unions tend to be more conservative and transparent in their operations. They aren't as exposed to high-risk derivatives, speculative crypto ventures, or aggressive mergers. Many are more accountable to their communities, not shareholders. It’s not that they’re immune to collapse—but they tend to be better insulated from the systemic fragility being engineered into the larger institutions right now.
The credit union I use seems to really care about its reputation in the community. Also the board is made up of people who mostly live locally, so we might see them in the grocery store or school pick up line. Maybe that makes them more accountable to the people? We all “own shares” simply by depositing $ (they call checking accounts “share draft accounts” so we are shareholders.)
Exactly this. Local presence creates natural accountability. When your board members are also your neighbors, there’s less room to hide bad decisions. That proximity to power makes credit unions one of the few remaining financial structures where people still have a real stake—and a voice.
That and they seem to have more freedom to help people. I worked for this credit union about 15 years ago. I was in the mortgage department. For the conventional loans of course we had to follow Fannie/Freddie rules, but their HELOC products were more flexible. I specifically remember one lady had mental health issues and she didn’t want the appraiser in her house and they were able to help her with a drive-by appraisal. Bank of America would never!
The FDIC is critical to the people's sense of financial security. Take that away, especially when there's stock market insecurity, and people will run on the banks.
Absolutely. The FDIC has always been more than a financial backstop; it’s a psychological one. Undermining it doesn’t just shift risk; it breaks the quiet trust that keeps people from panicking. That’s what makes these changes so destabilizing, even if they’re happening quietly.
My generation learned this (at least here in CA) in grade school-yet majority voted for Dump to give us Smoot-Hawley and the ruins of 1930 banking philosophy.
in a just world they’d be sent into the meat grinder of the inevitable war the American Taliban will start.
Thank you for this ongoing analysis! Forewarned is forearmed. Which is more secure place for cash in a deregulated bank, a CD or savings account? Thank you.
In a fully deregulated environment, the risk shifts from interest rates to institutional failure. CDs and savings accounts are both subject to the same deposit insurance limits—but if oversight weakens or disappears, what matters more is the institution’s stability. A CD can lock in your rate but also your access. If flexibility is important, a savings account at a safer institution may be better. Either way, spreading funds across multiple stable banks, especially community-focused ones, is the safer hedge right now.
When this Administration first began dismantling everything, I told my husband to get out of the market, which we did, and the timing proved to be pretty lucky. (He follows all kinds of financial news but I follow politics.) Then as we were discussing finance I begin to think, are they coming for the FDIC? And here we are. At that time, I even wondered if we should spread our cash reserves across small community banks. Now it looks like we should! Egad, this administration is the worst! It never gets better.
I wish I had been following you all along. I just discovered your substack with this piece and quickly forwarded it to my husband. And subscribed.
I'm definitely part of the resistance. Glad you are here!
This means a lot! Thank you and I’m glad you found your way here. You were paying attention early, and that kind of instinct matters. There’s still time to act, prepare, and resist. And it’s voices like yours that will help others do the same.
Oh, no worries, I can answer here. We use Fidelity, because my husband's company uses them for their 403(a) and 403(b) programs. We moved our funds to a money market fund there. I can get the name for you if you like. We are just learning about money markets, so we have no idea if it's a good idea for the long-term! It was just more secure, at least for now.
We have a bit in a high-yield money market, but most is in a more standard one with a looooow rate. I'm not in front of my computer right now, but I could get more details if you want. Not sure how much this helps, though! We do also have about $15K in a large bank, a checking account.
Thanks! I'm looking at adding a credit union account, which might be safer than a bank if FDIC wrecked/rendered useless. We also opened a second checking account and are only using our old one for taxes.
Gregg, let me add to my initial reply. My husband had referred to a "money market" fund. But I talked with him further, and it's actual federal T-bills. So thankfully, that's exactly what this author recommended. Mark purchased a range of different ones, he said, and he just checked their performance yesterday, April 1, which was their first monthly payment of interest. Over the various ones we invested in, our overall gain was 4% for the month. We're quite pleased with that, but also aware that this could sink going forward, depending on what happens to our economy and interest rates set by the fed.
I had another investment thought this morning while listening to an NPR report on Finland's growing defense industry. They've seen a big uptick in orders from European buyers since Trump has trashed our alliances and thrown Europe to the Russian wolves. I don't know how you feel about supporting the defense industry, but I certainly know Europe needs to build theirs up significantly. If a bubble hasn't already formed in European defense stocks, then that's probably going to be a growth area. I'm going to have us take a good look at it.
I have a substantial amount at Bank of America. Nervous, I went to a credit union. They said to open an account they have to check my credit. I thought this was odd as I was depositing money and I was going to get a CD through the crrdit union.
I had a freeze on the 3 credit accounts (Experian, etc.) so I said I would unfreeze them & return.
1. Does this seem right they have to look at my credit? (excellent BTW);
2. Are CD’s safe at Credit Unions?
3. Is Bank if America one that I should close my accounts tomorrow (I have 4)?
Great question. So far, the NCUA has not been at the center of this push—but that doesn’t mean it’s safe. If consolidation under Treasury accelerates, it’s reasonable to expect pressure to standardize oversight across all institutions—including credit unions. For now, their more local governance structure and lower profile may offer some protection—but only for as long as they remain outside the political spotlight.
Do you think this change towards electronic currency will be a U.S. or World venture? I've been considering exchanging some dollars for currency in other countries thinking they may retain more value but our economies all seem to be intertwined nowadays.
Another great question. There’s global interest in digital currency, but not all systems are created equal. In the U.S., the concern isn’t digital currency itself but how it could be rolled out to consolidate control or limit access. Other countries may explore it for efficiency or inclusion; here, it risks becoming a tool of surveillance or restriction if implemented without transparency. And yes, because the global economy is so interconnected, shifts in one country ripple outward. But what matters most is who designs the system, and what values it’s built to serve.
I shared this link with my ny representatives, minority leader Jeffries and Senatirs Warren and Sanders. I say share this with everyone you know. Make this article go viral. As an earlier comment said republicans are going after social security and all other matters of our taxpayer dollars and yup now they are going after our money in our personal bank accounts.
Should deposit insurance, instituted after the bank failures during the Great Depression, be siantled we will see saving accounts of millions wiped out when the next banking crisis happens. And it WILL happen. and we will have the Great tRUmp Depression.
So my take away from this is that the Republicans are stealing our tax dollars, they’re stealing our Social Security, and now they’re going to come and steal our savings accounts. Have I got that right?
You’ve captured the pattern. What’s happening isn’t theft in the traditional sense—it’s policy-driven redirection of risk and resources from the public to the private elite. Social Security, deposit insurance, financial oversight—it’s all being stripped down under the narrative of “efficiency,” but the cost always lands on ordinary people. Calling that out clearly is critical.
I have been reading and following since the first article that terrified me. I shared with friends/family. They were reluctant, so I will send them this. Thank you so much. I am heeding your advice. So sinister, so destructive. This administration truly seeks to destroy US! Retribution for sure!
Yes, if they take away, Social Security people are going to die he doesn’t care
Sadly, I think that is part of the plan. I am frightened!
So true. The evil is beneath all of it.
What in God’s and Humanity’s name can we do about it to stop it? Trump and his evil monkey’s are scaring the crap out of me…Is there a way to prevent it before it is too late?
I’ll tell you what I’m gonna do. I’m gonna call Congress tomorrow. I might not get through, but if there’s a recorder. I’m gonna leave a message. I already have some notes written down on what to say.
The app 5 Calls gives you the numbers of your reps..I use it several times per week
I’m going to call Bernie Sanders too. He has been warning of this for a number of years
I am, too.
CALL ALL the Representatives & Senators 202-224-3121
Yes. 2nd amendment
I urge you to read Civil Resistance: What Everyone Needs to Know. I think the case for a resistance that does not kill or harm people physically is compelling.
Thankyou, Mike. I'm am going to try and find that
Maybe I’m not asking the correct question here but … anyone with a finance background have any insight as to where our money would be secure at this point? Where should we be looking into?
The extremely rapid breakdown of US institutions is laid out in project 2025 but what is allowing it all the happen was the 2024 election. The election which gave republicans control of everything. The election where the president was sure that he would win long before election day. Not confident - sure.
Yes. The real “stolen election” and not a peep from anyone
Election truth alliance has been checking out the voting machines since January. They just finished with Pennsylvania and found manipulation Have you looked up Greg Palast he’s an investigative reporter. He found votes were removed from Kamala and given to Trump. Check them out so you can get caught up.
Thanks!! On it!!
My call/email is to Elizabeth Warren. Maybe she can shed some light on this issue.
Good idea! She knows her stuff. I imagine that she could find many actual economists, unlike those deregulating, that could add much valuable insight.
I wonder, is something like the financial crisis in 2008 something that is planned? Maybe as a farewell gift if republicans doesn’t win the coming elections?
Will update, I know very busy, keep trying, going to try staffers and satellite offices in Massachusetts.
That’s my takeaway also!
Thank you everyone! It helps to know we’re not alone.
Update: I heard from Senator Warren’s office. My concern had been elevated, casework has my question. I will be contacted, and will post when I hear back. Thank you Senator Warren, and staff, I very much appreciate your help and insight. I am a Californian, not a Massachusetts resident and appreciate your attention, it will not be forgotten!
Correct
Yes
Can you help me understand why Treasury bills are safer? It seems counterintuitive to rely on the Treasury too. Thank you for these stories.
Great question. It does seem counterintuitive at first. The key difference is that Treasury bills are direct obligations of the federal government—essentially short-term IOUs that are repaid with priority. Unlike bank deposits, which are subject to regulatory changes or institutional collapse, T-bills are backed by the full faith and credit of the U.S. and bypass the banking system entirely. They're less about trusting who’s in charge and more about leveraging the fact that governments—even flawed ones—rarely default on their own debt.
FYI: Japan, China, and EU countries are quietly selling off their T Bills. What do they know/suspect that the public doesn't know?
Great observation. Countries like China and Japan have been reducing their T-bill holdings for a while, but it’s important to understand why. Often, it reflects shifts in trade balances, currency strategy, or geopolitical tensions, not necessarily a lack of faith in repayment. That said, some nations may also be responding to perceived political instability in the U.S. especially as economic policy becomes more volatile and election cycles grow more extreme.
But even then, they’re not fleeing to crypto or banks—they’re just rebalancing. T-bills are still repaid first, and they bypass the institutions currently being hollowed out. That makes them uniquely insulated, even in moments of uncertainty.
My guess is that the value of the dollar will crash. I don't understand how T-Bills can be a safe investment if they aren't worth much?
Great question, Tracey. If the dollar were to completely collapse, no investment would be truly “safe,” not cash, not stocks, not even real estate in some scenarios. T-bills aren’t immune to currency devaluation, but they’re structured to be prioritized and repaid first, even in crisis. They’re not about betting on the strength of the system, they’re about minimizing exposure to that system breaking down. It’s not about being invincible, it’s about being the last thing to go if everything else starts to fall.
Thank you for explaining that to me
There's been talk that in the last few weeks, China, Japan, and the EU were quietly starting to sell off T-bills.
So I’m to understand that T-bills are safer than buying gold & burying it in the backyard! What about college funds for all my granddaughters?
What makes you think it’s safer to have our money in local credit unions instead of FDIC-backed banks? Didn’t they take over the NCUA when they took over the FDIC?
Curious about the prepaid debit cards. How are they a safe bet of the money is still basically in a bank?
There are so many fees and stipulations that come with a pre-paid debit card. I’ve decided that’s not the way to go, at least for myself.
Agreed
I'm not sure I still believe in "the full faith and credit of the US" anymore. 47 has destroyed my faith in our government.
Trump doesn’t. He has already said he doesn’t want to honor certain treasury obligations.
If the value of the dollar crashes how will T- bills be worth anything? How would cash be worth anything? And if the gov't intends on making pymts from them electronic ( crypto?), is that the form we would be getting future tax refunds in? Or SSI pymts?
Thank you.
This is not a government. It is a regime. Does that make a difference ?
Sadly I would not trust the government to honor them if things go sideways. They won’t say no… they’ll just introduce a new law or order preventing payment.
It’s totally fair to feel skeptical about long-term guarantees right now. But T-bills are structured differently than Social Security or benefits. They’re debt instruments, not entitlements. Refusing to pay them would collapse the global credit system. Could something unprecedented happen? Sure. But from a risk hierarchy perspective, they’re still the last thing to go down, especially compared to uninsured bank deposits or digital assets dependent on deregulated intermediaries.
That explanation is very helpful. Thank you
Where do you get treasury bills?
You can purchase them from the US Treasury website
Thank you so much for this information.
Everyone - Please, please, please read or listen to Edward Griffin’s book “The Creature From Jekyll Island”. This is a story about the history of banking and money throughout the world with an emphasis on the worlds central banks, their relationship with the government and their role in the creation of money. What we are now going through politically and socially has much historical precedent. This is
written in understandable English in a who done it sort of way. It is a long book, about 22 hours on audible, that is 4 books in one. It has given me a great understanding of what we have gone through, going through and will go through. You will understand how banks make money, how inflation blooms and the predatory nature of the relationship between large banks, the Federal Reserve ( neither a federal agency nor holding any reserves) and our politicians. It will be worth your time…
Griffin’s book helped open a lot of eyes to the consolidation of financial power, even if some of its conclusions veer into less grounded territory. What’s important now is connecting historical patterns to what’s unfolding in real time. We’re watching a coordinated restructuring—not just of how money moves, but who gets to decide the terms.
Thx for the recommendation
Thank you buying audio and print
Also The Great Taking
I just received this book in the mail based off your recommendation. I'm looking forward to learning something
Another step in the master plan to control our money. The Treasury Dept under Bessent is suspect and this is extremely disturbing. Recall DOGE went after the Treasury Payment system as their first foray into identifying waste, fraud and abuse. The Treasury Payment System is the ‘head of the snake’ to accessing the government’s funds and it is not surprising they want to consolidate control under Treasury.
Next they will revalue the gold and devalue the dollar and restate GDP then shift everything to crypto.
Thank you for this article. I wonder when Congress will wake up. They have been AWOL thus far claiming ignorance on DOGE doings with Social Security - a veritable cash cow of $2T that they would love to privatize. Hmmmmm
Yes—this isn’t just about banking mechanics. It’s about control. Treasury’s move to centralize payment infrastructure, especially under Bessent, fits squarely into the Project 2025 playbook. DOGE was a test balloon—what seemed like a crackdown on fraud is now being used to quietly restructure how oversight is defined and who it’s meant to serve. We should all be watching the “consolidation under Treasury” far more closely.
Musk is creating xAI, which is similar to China's WeChat. The Chinese have to do everything through it. Finances, scheduling, social media, etc. xAI + crypto = total control.
This now makes sense why Musk wants to add a Visa type pymt system to x (now xAI) but doesn’t want to play by CFPB rules. He’s patterning after China.
As for CFPB barrier, his solution is to shutdown CFPB. So far the courts have said no dice.
Thank you for this insight.
Now I understand. Everything is coming under the control of the executive branch of government. They don’t intend to give up their power. No one dismantles the political, economic and government structures of a country just to give it up in four years in democratic elections. They don’t intend to leave in four years.
Yes, that’s exactly it. You don’t dismantle a system just to hand it back. Project 2025 isn’t a policy reset; it’s a power consolidation plan. And the longer it stays quiet, the more permanent it becomes.
Why are smaller local banks and credit unions considered safer than big banks?
Smaller local banks and credit unions tend to be more conservative and transparent in their operations. They aren't as exposed to high-risk derivatives, speculative crypto ventures, or aggressive mergers. Many are more accountable to their communities, not shareholders. It’s not that they’re immune to collapse—but they tend to be better insulated from the systemic fragility being engineered into the larger institutions right now.
Yet, my federal credit union is still under government control. As a retiree the ending of the FDIC is terrifying.
The credit union I use seems to really care about its reputation in the community. Also the board is made up of people who mostly live locally, so we might see them in the grocery store or school pick up line. Maybe that makes them more accountable to the people? We all “own shares” simply by depositing $ (they call checking accounts “share draft accounts” so we are shareholders.)
Exactly this. Local presence creates natural accountability. When your board members are also your neighbors, there’s less room to hide bad decisions. That proximity to power makes credit unions one of the few remaining financial structures where people still have a real stake—and a voice.
That and they seem to have more freedom to help people. I worked for this credit union about 15 years ago. I was in the mortgage department. For the conventional loans of course we had to follow Fannie/Freddie rules, but their HELOC products were more flexible. I specifically remember one lady had mental health issues and she didn’t want the appraiser in her house and they were able to help her with a drive-by appraisal. Bank of America would never!
The FDIC is critical to the people's sense of financial security. Take that away, especially when there's stock market insecurity, and people will run on the banks.
Absolutely. The FDIC has always been more than a financial backstop; it’s a psychological one. Undermining it doesn’t just shift risk; it breaks the quiet trust that keeps people from panicking. That’s what makes these changes so destabilizing, even if they’re happening quietly.
My generation learned this (at least here in CA) in grade school-yet majority voted for Dump to give us Smoot-Hawley and the ruins of 1930 banking philosophy.
in a just world they’d be sent into the meat grinder of the inevitable war the American Taliban will start.
In a just world.
What do you think about putting cash in foreign banks with stable banking systems like Canada?
Thank you for this ongoing analysis! Forewarned is forearmed. Which is more secure place for cash in a deregulated bank, a CD or savings account? Thank you.
In a fully deregulated environment, the risk shifts from interest rates to institutional failure. CDs and savings accounts are both subject to the same deposit insurance limits—but if oversight weakens or disappears, what matters more is the institution’s stability. A CD can lock in your rate but also your access. If flexibility is important, a savings account at a safer institution may be better. Either way, spreading funds across multiple stable banks, especially community-focused ones, is the safer hedge right now.
When this Administration first began dismantling everything, I told my husband to get out of the market, which we did, and the timing proved to be pretty lucky. (He follows all kinds of financial news but I follow politics.) Then as we were discussing finance I begin to think, are they coming for the FDIC? And here we are. At that time, I even wondered if we should spread our cash reserves across small community banks. Now it looks like we should! Egad, this administration is the worst! It never gets better.
I wish I had been following you all along. I just discovered your substack with this piece and quickly forwarded it to my husband. And subscribed.
I'm definitely part of the resistance. Glad you are here!
This means a lot! Thank you and I’m glad you found your way here. You were paying attention early, and that kind of instinct matters. There’s still time to act, prepare, and resist. And it’s voices like yours that will help others do the same.
Unbelievable. Thanks for this info.
Karen, what did you move your money into if you don't mind my asking?
If you want to go offline, I'll give you my email.
Oh, no worries, I can answer here. We use Fidelity, because my husband's company uses them for their 403(a) and 403(b) programs. We moved our funds to a money market fund there. I can get the name for you if you like. We are just learning about money markets, so we have no idea if it's a good idea for the long-term! It was just more secure, at least for now.
We have a bit in a high-yield money market, but most is in a more standard one with a looooow rate. I'm not in front of my computer right now, but I could get more details if you want. Not sure how much this helps, though! We do also have about $15K in a large bank, a checking account.
Thanks! I'm looking at adding a credit union account, which might be safer than a bank if FDIC wrecked/rendered useless. We also opened a second checking account and are only using our old one for taxes.
@Greggb57 (how do I tag in Substack???)
Gregg, let me add to my initial reply. My husband had referred to a "money market" fund. But I talked with him further, and it's actual federal T-bills. So thankfully, that's exactly what this author recommended. Mark purchased a range of different ones, he said, and he just checked their performance yesterday, April 1, which was their first monthly payment of interest. Over the various ones we invested in, our overall gain was 4% for the month. We're quite pleased with that, but also aware that this could sink going forward, depending on what happens to our economy and interest rates set by the fed.
I had another investment thought this morning while listening to an NPR report on Finland's growing defense industry. They've seen a big uptick in orders from European buyers since Trump has trashed our alliances and thrown Europe to the Russian wolves. I don't know how you feel about supporting the defense industry, but I certainly know Europe needs to build theirs up significantly. If a bubble hasn't already formed in European defense stocks, then that's probably going to be a growth area. I'm going to have us take a good look at it.
What about places that many of us have IRAs and 401ks in, like Vanguard and Fidelity? (Mutual funds). Any ideas of how we can keep that money safer?
I have a substantial amount at Bank of America. Nervous, I went to a credit union. They said to open an account they have to check my credit. I thought this was odd as I was depositing money and I was going to get a CD through the crrdit union.
I had a freeze on the 3 credit accounts (Experian, etc.) so I said I would unfreeze them & return.
1. Does this seem right they have to look at my credit? (excellent BTW);
2. Are CD’s safe at Credit Unions?
3. Is Bank if America one that I should close my accounts tomorrow (I have 4)?
Thank you for these updates and summaries. So much happening at once. Chaos by design to distract us from the unity we need to resist!
We have to FIGHT this!!
Does this include the NCUA, the equivalent for credit unions?
Great question. So far, the NCUA has not been at the center of this push—but that doesn’t mean it’s safe. If consolidation under Treasury accelerates, it’s reasonable to expect pressure to standardize oversight across all institutions—including credit unions. For now, their more local governance structure and lower profile may offer some protection—but only for as long as they remain outside the political spotlight.
What is the NCUA please?
National Credit Union Association
Do you think this change towards electronic currency will be a U.S. or World venture? I've been considering exchanging some dollars for currency in other countries thinking they may retain more value but our economies all seem to be intertwined nowadays.
Another great question. There’s global interest in digital currency, but not all systems are created equal. In the U.S., the concern isn’t digital currency itself but how it could be rolled out to consolidate control or limit access. Other countries may explore it for efficiency or inclusion; here, it risks becoming a tool of surveillance or restriction if implemented without transparency. And yes, because the global economy is so interconnected, shifts in one country ripple outward. But what matters most is who designs the system, and what values it’s built to serve.
Wow! I had no idea. I have been assuming at least the FDIC would be left
alone. How could I have underestimated the Heritage Foundation, their Project 2025, Muskovites, MAGAets, T, etc?
Do you remember Trump saying, ‘The Federal Reserve? I’m not sure there is any gold there…’
I shared this link with my ny representatives, minority leader Jeffries and Senatirs Warren and Sanders. I say share this with everyone you know. Make this article go viral. As an earlier comment said republicans are going after social security and all other matters of our taxpayer dollars and yup now they are going after our money in our personal bank accounts.
The problem is then there may be a “run” on the banks, collapsing everything quickly like the Great Depression.
Should deposit insurance, instituted after the bank failures during the Great Depression, be siantled we will see saving accounts of millions wiped out when the next banking crisis happens. And it WILL happen. and we will have the Great tRUmp Depression.