Here's the letter I wrote to my family.
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Here's the letter I wrote to my family:

I was so upset about the banking downgrades yesterday that I felt
obligated to reach out to the people who are closest to me and talk to
them about this situation. Some of them will listen, and some will
probably roll their eyes, but my conscience would not be clear if I did
not make every effort to inform my friends and family about what's going
on.

I want to share with you the same advice that I gave to them. The email
I sent them is as follows:

Dear Loved Ones:

It's me again, your friendly family conspiracy theorist. 🙂 All jokes
aside, I'm writing to talk to you about something very serious: the
banking system.

You probably know that some banks out in California failed earlier this
year. It probably seemed distant because you don't live in California
and you don't bank there.

But now, the writing is on the wall for a whole bunch of other banks in
the United States. Yesterday the news came out that 27 American banks
did not have a good financial outlook. The one where I have one of my
personal accounts is one of them. I'm not going into lists and details -
you can easily find it on the internet, and I think it will seem more
real when you see that these downgrades were discussed on every major
news outlet yesterday.

You may find that your bank is on the list of banks not doing so well
too, and you may not know what to do about it. I've been writing about
things like this for more than a decade, and I have some advice for you.
None of it is outrageous - it's all perfectly rational stuff you can do
pretty easily.

1.) Make sure not to put all your eggs in one basket.

I strongly recommend you diversify all personal and business finances.
For example, I have three business accounts and two personal accounts.
They're at different banks. I do this because if one bank fails, the
other banks may still be okay.

Yes, the FDIC will most likely get your money back to you but it could
take months, and you'll be without it that entire time. If your money is
evenly distributed, you'll have something to fall back on.

I'm not saying you need to rush out and withdraw every penny in a panic.
I'm saying you need to be wise and spread your money and bill payments
out among multiple accounts.

2.) Don't think you're safe or exempt from this.

You may be looking at those lists thinking, "Oh, my bank isn't on there.
Everything is fine!" Well, the day before yesterday NOBODY'S bank was on
that list. It can change at the drop of a hat. You may think that
because you are at a big bank you're safe because they are too big to
fail. You may think if you are at a small bank you're safe because it's
more personal and you know the people there and they know you.

I'm here to tell you that I don't believe there's a bank in America that
is totally safe. That's why you must pay attention and be prepared to
make changes quickly if it's warranted.

3.) You need a plan for your savings.

If you have a savings account, as in money you don't spend or dip into
on a regular basis, I suggest you create a plan to protect it.

* Keep some of it in cash. I always keep a fireproof safe in my house
with cash in a variety of denominations. If things go haywire in the
banking industry, I have cash for buying groceries, medicine, and
gasoline.

* Keep it in different accounts. If you have way more than you want to
have kicking around the house, please consider following the advice in
point #1 and dividing it into different accounts at different banks. The
FDIC only covers 250K in deposits so you do not want to go over that
amount in one bank and you don't want to risk everything by trusting
just one bank.

* Invest some of it in tangible assets. Now might be a great time to
invest in some goods that you know will hold value. Extra food, tools,
work-related items, and precious metals are all great ideas, depending
on your budget. Get things that you either know you will need and use or
things that you know will hold value.

* Talk to an expert <[link removed]>
without skin in the banking game. One of my friends told me, "I called
my bank, and the investment guy there told me it was nothing to worry
about." I was horrified. Why on earth would you trust the people who
want to keep your savings right there at the facility you're concerned
about? OF COURSE they're going to say everything is fine! They want to
keep their jobs. I have advisors I trust, people who understand the
fragility of our system and you can call them right now at 866-517-1257
to book an appointment and just ask questions. It won't cost you
anything, and I'd feel so much better if you just discussed your options
with them.

What do I do? I personally put most of my savings into precious metals.
No, I won't be able to easily "spend" that right away, but if I did need
to, it's always going to be liquid. If my thousand dollars in cash is
only worth a hundred dollars later, I still know my thousand dollars of
gold will be worth the same or more. If you want to learn more about
that, go here <[link removed]>.

I care about you and your future. I worry about you because I think
times are going to get a whole lot harder. I don't want you to be taken
by surprise. You may not act on my advice but I'd feel horrible if
something bad happened and I'd never said a word.

Please take steps to protect yourself. This whole thing seems like it's
speeding up and I don't want you to run out of time and wish you'd acted
sooner.

Love,
Daisy

Contact the experts I use <[link removed]>
_________________

Sent to [email protected]

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