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Saturday, October 1, 2011

ATM fees by BofA and City?

ZeroHedge Posted this article today about the concern that with certain large banking institutions in the banking cartel (BofA and Citi) implementing debit card fees, many depositors will be taking their business elsewhere, precipitating, perhaps, the next government bailout on the road to a nationalized banking system. 

My advice?  Bank local.  Even credit unions seem like a good option at this point.  It won't be long before JP Morgan-Chase follows suit (indeed they already have very little to offer bankers over competing small banks).

If the government does indeed 'have' to step in again to bail these companies out, we will see an end to this supposed recovery, an increase in the price of gold, and a decrease in the value of the dollar.  Again.

Good game.

I still blame the Federal Reserve.


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