Do not take all of your money out of the bank. A run on the big banks has already happened, of sorts. You see contrary to 5 months ago, August 2008, when the president and congress tried to assure us that the economy was fine and progressing, we've all heard differently since that time. So, what happened in such a short period of time?
Well, the previous news that the economy was good, was a hopefully reassurance, to get you to spend money, if you had any, especially during the holidays. Reality is, the banks are seriously broke. Consider all the bankruptcies taking place, not just individual bankruptcies, but the big companies as well. Large corporations are falling by the wayside in record numbers. I'm sure you watch the news, so you are hearing this too. The loans and bank notes held by the banks, for all these bankruptcies, is literally breaking the banks to the tune of millions of dollars a day. They are becoming insolvent and to put it more simply, they owe more than they can take in, from outstanding loans now in default.
Citi Group and Bank of America have already received millions in bailout money and they need even more bailout funds as soon as possible. The government will not allow them to fold, but the sweep to merge and create a stronger banking industry is fast underway.
So how can you protect your money? Unless you have millions of dollars, your money is insured and safe, so no need to rush to the bank and make a major withdrawal. If you want to find a safer way to invest your money, and have it rise higher in value, you should seriously consider buying gold coins or gold bullion. When all else is failing gold has always gone up in value and has never hit zero, or even close to it.
Even though the government has already generated some $350 billion in bailout money, they will need to do this a second time and fast. Once the banks are assured they can access money to lend and create new accounts to customers, the price of gold and gold coins will also rise. Having money invested in gold is a really smart investment right now and you can always buy and sell gold easier than any other commodity. Gold is universal and maintains it value stronger than any stock on the stock market.
Rare old coins are another great investment. There's no money like old money. With limited availability and holding these rare coins from being sold can also assure you that the value will only continue to go up. Long and scary story in short, buy gold coins or gold bullion and protect your investments, as safely as possible in such a volatile market and economic times that we are currently experiencing.