Table of Contents
3/31/22 Question: Both Carolyn and Catherine have mentioned several times about a PA banking institution that they are using. If they don’t mind, I’d like to ask them which one it is. I live in the Lehigh Valley area of PA (Allentown/Bethlehem/Easton) and I’d like to open up a new account at a local credit union or smaller community bank.
Our response: Solari’s bank is National Bank of Malvern, which is located in Malvern, Pennsylvania, a suburb of Philadelphia. You may want to visit the following links, which we have just made public, for information on finding a great local bank, a 2012 interview with Lydia Willits Bartholomew (Catherine’s cousin and the chairman of National Bank of Malvern) and a 2010 article about National Bank of Malvern:
“My Bank: How Do I Find a Great Local Bank?” at https://library.solari.com/my-bank-how-do-i-find-a-great-local-bank/
“How Do I Find a Great Local Bank? – The Next Generation” at https://library.solari.com/how-do-i-find-a-great-local-bank-the-next-generation/
“The National Bank of Malvern” at https://library.solari.com/the-national-bank-of-malvern/
Question: What is the “people’s bank” you refer to, and why is it important to invest in a people’s bank?
Catherine’s response: When the litigation started, it turned out that I had loaned or gifted $250,000 to friends and family. When the Department of Justice and related media succeeded in cutting my business and personal income from near $1MM a month to $0, they also tried to intimidate my family and friends, including an uncle who helped me. I was told the family had a pow wow, concerned that if they continued to help me, they would be targeted. My uncle said that he would continue to help me, as I had always helped others. And so he did. Most of my family stood by me, thanks to his leadership.
Over the next 11 years, family and friends repaid, loaned, or gifted me $250,000. I would never have made it without that. I had put $250,000 in the “people’s bank,” and that was what kept me alive.
When the settlement was received in 2006, I was convinced that the tax authorities would try to grab it. So instead, I bonused a great deal back out to the people who had helped me. I felt the money was safer in the “people’s bank.”
If a Solari Circle does a “hand” or “partnership”—where they save cash together—it works in a similar way. For example, they have a potluck dinner once a month in a circle of 12. Each puts in $100 of cash or four silver coins. Then one takes the full amount—$1200 or 48 silver coins—and they do that each month for a year. So, instead of each having $1100 in the local bank, they each have $1100 in the “people’s bank”—or $100 with each one of the other Circle members.
In wartime, your family are the people who will not turn you in and will not let you go down. Those people need to be “bankable.”
Question: What if I live in a small town with no credit unions but only branches of major multinational banks?
Catherine’s response: My home base is in Tennessee, I live in the Netherlands, and my company has employees all around the world. Solari and I bank in a community bank in Pennsylvania (where I know the management well). Their ATM works here in my town in the Netherlands and all over the world. The service is great.
Find a great community bank or credit union near enough for you to get to know the people.
Question: My credit union has been expanding and now has 17 branches and a call center. Should I consider switching to a smaller bank, savings and loan, or other credit union?
Our response: Not every credit union is good, just as not every big bank (up to a point) is bad, and multiple branches may be an indication of successful management. WHAT YOU ARE LOOKING FOR IS A WELL-MANAGED LOCAL INSTITUTION THAT CARES ABOUT ITS CUSTOMER BASE. If your credit union is not responsive, you could look for alternatives. Bank rating information is pretty dense, but you can consult WEISS or AM BEST—services that provide bank ratings to their subscribers—at a public library. According to an Internet search, BauerFinancial includes ratings on credit unions, and you can search by typing in the name of your financial institution. We know nothing of that service and therefore are not recommending it. Apparently, there are also Internet-based services that will provide bank ratings for a small fee. You can find out a lot by doing basic Internet searches on bank and credit union ratings and what goes into them. However, don’t confuse ratings of a bank’s securities (by Moody’s or S&P, for example) with ratings of the bank itself as a depository institution. In all circumstances, knowing your banker is important.
See: “How to Find a Local Bank” at https://home.solari.com/how-to-find-a-local-bank/.
Question: Can you point to an article or a list of bad banks?
Our response: We do not publish a list of banks, good or bad. We RECOMMEND that you have a successful relationship with a WELL-MANAGED local bank or credit union. CHECK OUT YOUR LOCAL DIRECTORY OR CHAMBER OF COMMERCE TO GET A LIST OF THE LOCAL INSTITUTIONS.
“How to Find a Local Bank” at https://home.solari.com/how-to-find-a-local-bank/
“Bring Back the Boycott: Say ‘No’ to Big Pharma, Big Banks and Totalitarian Control” at https://home.solari.com/bring-back-the-boycott-say-no-to-big-pharma-big-banks-and-totalitarian–control/
“TAKE ACTION: Financial Takeover & Your Bank Account – BlackRock, Envestnet/Yodlee, and The Federal Reserve” at https://home.solari.com/take-action-financial-takeover-your-bank-account-blackrock-envestnet-yodlee-and-the-federal-reserve/
“Special Solari Report: The History and Organization of the Federal Reserve: The What and Why of the United States’ Most Powerful Banking Organization” at https://home.solari.com/special-solari-report-the-history-and-organization-of-the-federal-reserve-the-what-and-why-of-the-united-states-most-powerful-banking-organization/
Question: My employer requires that my paycheck be automatically deposited in my bank account. Is there any issue with this practice?
Catherine’s response: Make sure you have a good bank who knows you and will be available if there are any issues or problems.
Carolyn’s response: Just an observation from legal practice: Make sure that you save whatever you get on paper or email that shows the deductions from your gross pay. I’ve had clients who change jobs and then don’t have access to the online HR system that shows them the accounting for their deposited pay, which is only net on your bank statement. If you’re applying for credit for virtually anything, the creditors want to see all of that accounting (i.e., gross paycheck before taxes and other things are taken out). It’s a hassle to get that information if you no longer work for the employer. Besides, you should have this information for your permanent records.
Question: What percentage of my assets should I hold in precious metals?
Our response: See “What Percentage of My Assets Should I Hold in Precious Metals?” at https://home.solari.com/what-percentage-of-my-assets-should-i-hold-in-precious-metals and “Rethinking Diversification” at https://home.solari.com/rethinking-diversification/.
Question: What advice can you give regarding the purchase of precious metals and storing in overseas vaults (e.g., in Singapore or Zurich)? Is this something that would be good to do to diversify one’s portfolio and protect wealth?
Carolyn’s response: Clearly, given the lockdowns and travel restrictions accompanying the Covid “pandemic,” access to overseas vaults has been somewhat hindered and may be even more restricted in the future. For those with significant assets, however, this may be an alternative to supplement holdings that are more accessible while in the U.S. On the subject of installing a home safe, see “How to Buy and Install a Safe” at https://library.solari.com/how-to-buy-and-install-a-safe-with-dan-perkins. Other articles and interviews on the subject of precious metals investment are as follows: “Precious Metals Investing in Silver and Gold Coins” at https://library.solari.com/precious-metals-investing-in-silver-and-gold-coins-audio-seminar/ and “Allergic to Numismatic Coins” at https://home.solari.com/allergic-to-numismatic-coins/.
PUSHING BACK ON CENTRAL CONTROL, “VACCINE” PASSPORTS, AND CBDCs
Question: How can we fight the prospect of a central bank digital currency (CBDC) by which we could lose control over our spending decisions, become subject to social credit systems, and otherwise sacrifice our freedom to central bank control?
Our response: See “22 Ways To Stop Vaccine ID Passports in 2022 and Why We Must!” at https://home.solari.com/22-ways-to-stop-vaccine-id-passports-in-2022-and-why-we-must/ and “#CashFriday” at https://home.solari.com/cash-friday/.
Question: I listened to a couple of interviews with John Titus about CBDCs. He mentioned that it is not clear if it is legal for the U.S. Federal Reserve to issue a CBDC. I have been trying to find out more about this, but I am not finding a clear answer. Is this included in his full report that is only available to Solari subscribers?
Catherine’s response: The Federal Reserve has stated that it will ask Congress for authorizing legislation. Most of what John says about this is in his Wrap Up interviews. If you want his videos on his Best Evidence channel on YouTube, you may find more information there. However, the best source will be authorizing legislation when submitted.
Question: I am a Canadian and we have watched with horror as Justin Trudeau has used the government to freeze the accounts of ordinary Canadians who donated to the Freedom Convoy as well as the truckers’ accounts and businesses. Now there are rumors that the next step in the Globalist plan is to temporarily shut down the entire banking system, then reboot it into a digital-only, digital ID access system. The ultimate endpoint being of course the Chinese style system of “social credit” controlling every aspect of your personal and financial life. So, my question is: If they can come after us for simply donating $50 to a cause we feel is worthy but happens to be political anathema to the government, is there any form of typical banking or finances that will be safe? Or should we go to the bank today and withdraw all our cash, then use it to purchase food and other necessities? Lock the cash into a household safe like our grandparents did in the Great Depression when they had to stuff money into mattresses?
Our response: See “22 Ways To Stop Vaccine ID Passports in 2022 and Why We Must!” at https://home.solari.com/22-ways-to-stop-vaccine-id-passports-in-2022-and-why-we-must/.
Question: Could you direct me to the list that I saw once on the Solari website that had many things that everyone can do now to stop building their digital concentration camps? The list had things that we can do with our cell phones, stop using Amazon, etc.
Our response: See “22 Ways To Stop Vaccine ID Passports in 2022 and Why We Must!” at https://home.solari.com/22-ways-to-stop-vaccine-id-passports-in-2022-and-why-we-must/.
Carolyn’s response: One thing Catherine mentioned on Financial Rebellion was the use of a Faraday bag for one’s computer and/or cell phone when not in use to prevent hacking and violation of privacy. There’s a liner that blocks digital signals.
Question: Ohio lawyer Tom Renz has formed a group called Make Americans Free Again (https://makeamericansfreeagain.com). There are groups in all 50 U.S. states. The goal is to raise money to fund lawsuits to enforce the Constitution. Is it possible for you to have a spot on one of their weekly calls? That would give you an opportunity to talk about Cash Fridays, how to find a local bank, etc.
Catherine’s response: I had Tom on the Solari Report when he first started litigating. He is on the list to have again.
Question: I am wondering, even if one manages to become self-sufficient for food, heat, and water, pay off the property mortgage to avoid being foreclosed, if worse comes to worst, how can one find means to pay property taxes if they mandate vaccines and one does not want or even cannot for health reasons comply with that mandate and ends up blocked from accessing his/her financial resources? It seems that not even bitcoin could help in such a case…. Any insights on that?
Carolyn’s response: Yes, property taxes are a problem you share with many who are retired (and others). Some of us may have to go back to work part-time to cover costs not covered by our Social Security and pensions. As for being blocked from financial resources, fight back as we at Solari have been advocating for many years. Network. Start a Solari Circle to take action politically and build relationships with local people who can support each other during trying times. Bank at a local institution where you are known and that is less likely to readily go along with Mr. Global. We all should have some readily-available cash and assets that can be converted to cash or sold relatively easily, like precious metals. In some circumstances and countries, things like jeans and cigarettes can be bartered for cash or goods. It all depends on one’s personal situation.
Question: My mom and I are leaving Poland in April, and I’m very concerned about the forced testing and masking on airplanes. We’re flying from Gdansk to Amsterdam, then to Los Angeles. I know my own personality and I’m not going to want to conform to what to me feels invasive and unnecessary, and I’m hoping against hope that there’s a legal or even religious work-around for this. Any ideas or suggestions would be very greatly appreciated. How can I get out of this and claim my sovereignty? Do the airlines have the legal right to refuse my flight if I don’t comply?
Carolyn’s response: I wouldn’t fight mask mandates once on a plane—you could get on a no-fly list they are reportedly creating for troublesome passengers and then you can’t go anywhere. Legally, in the U.S., in the absence of legislation to the contrary (which does not exist now, to my knowledge), airlines are private companies and generally can put whatever conditions on your travel that they want—they just can’t discriminate based on your membership in a protected class (race, disability, gender, religion, etc.). You can sue them for harming you and for other reasons, but suing an airline isn’t a practical remedy. Airports may be publicly owned but, if so, you’re fighting the same people who impose other Covid-related mandates. I flew to Amsterdam in July and had to wear a mask on the airplanes and in airports. I was uncomfortable. People who have to wear masks for long periods of time repeatedly may have problems, but for a day or two, I figured it was not worth canceling my plans or making a scene on the airplane. I figure you have to pick your battles. Some of the mandates are starting to relax at this writing, but you might want to find out alternative routes where there are no onerous mandates.
Catherine’s response: Actually, I do fight. It is one of the reasons I have not flown since February 2020. Numerous people here in Europe have recommended flying through Mexico to avoid LAX and the more brutal treatments. If I were flying to the U.S. this month, I would likely fly to Mexico and then fly to Texas or drive across. Flying through Miami is another possibility. I would never fly into California under these circumstances.
Question: Can you comment on the following strategies:
1. Choose member-only banks—as you previously suggested—so that they are not exposed to corporate buyout.
2. Get out of debt—stop being a slave!
3. Support local small business for basic commodities like food, etc.; again, they can’t be bought out on the stock exchange.
4. Tech products are clever—you have to pay to buy their product, then to use their product, software and monthly access. Pool computer use or find ways to get off altogether. Write letters, post checks, etc.
5. Support jobs—I queue in shops instead of using self-checkout and use banks, not ATMs (when they are open), pay bills in person with cash, not online, etc.
6. Use a land line and cable computer when these have to be used—I believe wireless tech is at the root of a lot of evil—including making people sick and weakening the immune system when they increased the radiation with the new generation. The fact that one followed the other couldn’t be a coincidence. Also, the way the global situation has been managed suggests the businesses supplying KNEW, i.e, we had our temps taken in the first 6 months—they were checking to see how many people had elevated temps because of intracellular activity, i.e., if it had crossed the blood-brain barrier. Social distancing works because you need to be close to another mobile device or tower to amplify the signal, etc. Worse, I think, is the long-term effects of toxic constant radiation—increase in cancers, neural diseases, cognitive impairment, etc.
Global warming, loss of bees, birds’ migratory patterns, children with ADD, more people with stress and anxiety, others think they have tinnitus—when it’s the electrical buzz created by all the increased electrical activity, etc. All have coincided with the increasing uptake of mobile technology.
Carolyn’s response: Exactly.
Catherine’s response: Great list.
Those interested in these subjects may want to read the following:
“An Intelligent Conversation about the Environment” at https://home.solari.com/an-intelligent-conversation-about-the-environment/.
“22 Ways To Stop Vaccine ID Passports in 2022 and Why We Must!” at https://home.solari.com/22-ways-to-stop-vaccine-id-passports-in-2022-and-why-we-must/.
Question: You recommend using cash for as many transactions as possible, and I understand the purpose of doing that, but I must admit it is very difficult to get back in that habit, though we always did that many years ago. My question is: Is paying by check acceptable, or does it need to be cash only?
Carolyn’s response: Checks, while not legal tender, are considered “cash” under most other circumstances and for large amounts. The idea is to get away from credit cards and, worse, digital payment systems.
Question: I have begun paying all of my service providers in cash with an explanation why. My dry cleaner explained to me that his costs for hangers have gone from 0.11/hanger to 0.55/hanger. He also pays anywhere from $1,800 to $2,000 per month in credit card service fees. He really appreciates the cash. We started a hanger-give-back program, and his customers have embraced it along with cash, once they understand why. The same applies to my hairdresser. He is also welcoming cash as his fees are between $2,000 to $2,500 per month depending on the season as the holidays are a much busier time for him.
Carolyn’s response: Excellent examples. Good for you.
Question: What do you think about filing our tax returns in paper form?
Catherine’s response: I am planning on filing paper filings this year as well as having Solari file in paper form. I am told that there is a risk that it will slow down your refund. Make sure you send it registered return receipt.
Question: I’ve been a part of numerous group discussions, for a while now. One of the gentlemen told me to go exempt, through my employer, and quit paying federal income taxes. Is it legal to quit paying state and/or federal income taxes, through an employer? I keep hearing people say, “taxation without representation.”
Carolyn’s response: Not that I know of! If you are talking of becoming an independent contractor instead of an employee, there are no employment taxes withheld and you are responsible for paying the taxes yourself (and have no workman’s comp coverage). The downside of that is that you end up paying more to Social Security because there is no contribution by the employer. So, you should command a higher “salary” if you are an independent contractor. It’s difficult to establish that one is not an employee if one has to take detailed instructions from the employer (as opposed to being responsible only for the results of one’s work) and work full-time for only one company. When you are an independent contractor, the company you work for provides a 1099 to report to the IRS what would otherwise be salary that has been paid to you. It isn’t a matter of being “exempt” vis-a-vis the employer. You are self-employed.
Carolyn’s response: I have been exposed in law practice to the legal situations of people with IRS problems as the result of joining groups that take the position that the IRS has no legal right to require us to pay taxes. They therefore did not pay any federal income taxes.
In one case, I had to advise a money manager about handling an IRS subpoena for the financial records of a customer who was a member of a group like this and had failed to pay federal income taxes. In another case, the person who had not paid taxes for years, formerly well-off, was living as a pauper to pay the IRS back-taxes assessed. In a third case, a man had a business that was not incorporated and failed to pay taxes for years. When he died, his daughter had to deal with tax liens on her home because she had him as a co-owner to use his credit to qualify for the mortgage. We found that when there are no financial records, the IRS makes assumptions as to income and places liens on property in amounts that are astronomical based upon such assumptions.
All I can say is, whether or not there’s an argument that taxing is not legal under the Constitution, in my experience those who fail to pay federal income taxes experience major legal problems costing them enormous amounts of money. Do not assume the government cannot find your assets. Nothing is secret any more.
HEALTH ISSUES AND CONSEQUENCES OF TAKING THE JAB
Question: My partner got the Moderna shot last May, and he is now showing some symptoms of a potential autoimmune disorder. I would love to connect with any doctor anywhere in the world who might be aware of any sort of antidote for the mRNA spike protein infiltration. I heard something about chlorine dioxide, but I don’t know if it is safe or effective. Do you or does Catherine have any contacts who might know of anything?
Carolyn’s response: You and your friend might be interested in watching the symposiums put on by Doctors for Covid Ethics (with Catherine as a moderator/speaker) linked from the Solari.com site. As for finding doctors, I believe the website for Front Line COVID-19 Critical Care Alliance at https://covid19criticalcare.com has information on health professionals sympathetic to treating vaccine adverse events (you can search by location). You also might get some helpful information from the site for America’s Frontline Doctors: https://americasfrontlinedoctors.org/.
Catherine’s response: To date, the Doctors for Covid Ethics do not know of a way to detox the mRNA spike protein.
Question: I am a psychotherapist with a successful practice. I have two contracts with insurance companies and struggle with a decision whether I should terminate them to go out of the system. I do hate to be in the system, but what if accepting self-paid patients will make me less accessible? More people may want to use insurance to pay for my services as the financial crisis progresses. What is the best decision?
Catherine’s response: My expectation is that the contracts with insurance companies will come with steadily increasing risk and terms and conditions. The only way to avoid this is to build a practice without them. My experience with doctors is that they start and grow their concierge or cash business steadily so they can cancel the insurance when the time comes. That is, they are steadily reducing their dependency so that they have the option when the risks or conditions become unbearable.
Question: Are Bitcoin and other cryptocurrencies a good way to reinforce financial independence from banks and lending institutions? Why or why not?
See “Can Bitcoin Circumvent Economic Tyranny – Interview with Catherine Austin Fitts and Aleks Svetski & Dr. Mercola” at https://home.solari.com/can-bitcoin-circumvent-economic-tyranny-interview-with-catherine-austin-fitts-and-aleks-svetski-dr-mercola/.
Question: Will you be doing another interview on Bitcoin on Dr. Mercola’s channel, in particular addressing some of Nassim Taleb’s objections to Bitcoin and “altcoins”?
Catherine’s response: No date has been planned for a follow-up interview. You would have to pose this question to Dr. Mercola, at whose invitation this interview took place.
PERSONAL FINANCE CONSEQUENCES OF CENTRALIZATION OF CONTROL
3/31/22 Question: Do the new U.S. Passports and state Drivers Licenses have chips and codes imbedded in them that are already being implemented for digital surveillance and trackability? For example my new Passport card has an RFID chip. The letter it came with said: “The RFID chip in the passport card does not include any personal information just a pointer to stored records contained within secure government databases.”
Our answer: Based upon the March 24, 2022 article “First U.S. Airport Begins Using Mobile Driver’s License or State ID for Verification” in Homeland Security Today, it appears that preparations are being made to implement the use of chip-enhanced passports and driver’s licenses for identification at airports, with Arizona’s Phoenix Airport being the first. Chapter I of Corey Lynn’s “Global Landscape on Vaccine ID Passports” sets forth the status by state of legislation to implement vaccine passports. We think that a given state’s legislative stance on vaccine passports may provide an indication of the likelihood of state implementation of chip-enhanced drivers’ licenses.
3/31/22 Question: How do we prevent the government from spending taxpayer dollars on the Covid treatments that are ineffective/dangerous (vaccines, drugs, etc., although some like monocolonal antibodies may be helpful)? Also, the test & treat program proposed by the president.
A major theme through the events involved in the global coup d’etat seems to be corruption. This seems to be endemic & reflects a “race to the bottom.” How do we counteract the mentality that if I don’t do it, someone else will? How do we reestablish ethics?
If our elected officials are key to changing the trajectory, how do we prevent election fraud?
Carolyn’s answer: Local and collective action is the answer, through Solari Circles or other organized groups of like-minded community members. Taking action locally and at state level and coming clean in our own decisions about spending and whom to do business with is more effective than attempting to effect national or international changes through mass demonstrations, complaining or changing laws, although there are times when joining a large collective effort can produce results. Don’t waste your time on those who will not listen and with media that are lying or withholding the truth. Support those who are doing the yeoman’s work for the causes of free speech, opposing the control grid and communicating the truth as you see it through monetary contributions, offers of service or spreading the word to those who are not in the know. In many cases, as with “vaccine” mandates, the solution is “just say no” and stand behind your decision with everything you have. Regarding enforcement issues look to your sheriff (local enforcement), state attorney general (state enforcement) or state US attorney (federal enforcement). Let your state and federal congress members and members of council, aldermen and other elected representatives know your positions on issues relevant to them. Attend and ask questions at campaign events for politicians running for office as well as their key meetings open to the public. Run for office or support a friend running for office. The following links may be instructive:
“Coming Clean: Building a Wonderful World” at https://home.solari.com/coming-clean/
“Coming Clean Beyond the Fiscal Cliff” at https://home.solari.com/coming-clean-beyond-the-fiscal-cliff/
“Solari Circles: Take Action Together” at https://takeaction2021.solari.com/solari-circles-take-action-together/
“Special Solari Report – American Suicide: Proposals for Constitutional Amendments & Convention with Edwin Vieira, Jr.” https://home.solari.com/special-solari-report-american-suicide-proposals-for-constitutional-amendments-convention-with-dr-edwin-vieira-jr/
“Enforce the Constitution: The Militias with Dr. Edwin Vieira” at https://home.solari.com/enforce-the-constitution-the-militias-with-dr-edwin-vieira/
“Who’s Your Sheriff?” at https://library.solari.com/whos-your-sheriff/
“Want to Have a Real Impact? Shift Your Time to State and Local Politics” at https://home.solari.com/want-to-have-a-real-impact-shift-your-time-to-state-and-local-politics-2/
“U.S. Taxation: With or Without Representation?” at https://ourmoney.solari.com/taxation/
“Loosen Technologies Grip on Your Mind “ at https://takeaction2021.solari.com/loosen-technologys-grip-on-your-mind/
Solari’s “Enforce the Constitution” series at https://constitution.solari.com/
“Investment Screening: Can We Filter for Productive Companies?” at https://home.solari.com/wp-content/uploads/2022/03/Solari_3rd_Q_2016-pages-1-21.pdf
Question: Is real estate investment, in particular rental properties, a good idea in light of the possibility of a reduction in the population due to environmental and food poisoning, toxic vaccines, and other means used to deal with stolen money and resulting pressures on the Social Security system?
Catherine’s response: Given the move into real assets and the rising expense of home ownership, there are many favorable trends for rental properties. However, all real estate is local, so whether or not rental properties are attractive depends on the economics of the local market, including the regulatory and enforcement environment. If you are buying outright, make sure you do a very careful due diligence on the quality of the assets and real costs of maintenance and other liabilities. Real estate is one investment where you can lose more than 100% of your investment.
Question: After retirement , should I leave my investments in the federal government’s Thrift Savings Plan (TSP)?
Catherine’s response: If you are planning on leaving your funds in the TSP, you may want to read “Missing Money Update: Thrift Savings Fund—Treasury Account 026×6153” at https://missingmoney.solari.com/missing-money-update-thrift-savings-fund-treasury-account-026×61531/.
Question: Should I use my financial assets to pay off my mortgage instead of keeping my investments in the securities markets?
Catherine’s response: To answer this question, a financial person would need to know much more about you, your financial profile, and your assets. That is confidential information, so please do not send to us as we do not offer individual investment advice.
Generally, you always want to make sure you have some assets that are highly liquid. So, generally it is better not to pay off a mortgage if it leaves you without liquid assets and reserves.
If you have a low interest rate on your mortgage and you are making a higher yield on a hedged equity portfolio, you may want to continue to take advantage of the difference by keeping your mortgage outstanding. Do the numbers on an after-tax basis before deciding.
Question: What effect do you think a war in the Ukraine could have on regular folks’ finances?
Catherine’s response: It depends on what happens. If this turns into WWIII, you are likely to lose everything, including your life. If the invasion ends with a Russian occupation, you can expect much higher energy and food costs. If the result of the sanctions is that more countries come out of the petrodollar system, expect much greater inflation and an accelerated push for central control. In that scenario, the Western governments could dramatically reduce the contracts and subsidies they are paying out to citizens, local governments, and businesses.
Question: How safe is a CD? And in your opinion, what is safer, a local bank or a credit union? I also have money in TIAA-CREF retirement savings. Now that I have retired, I am considering putting that money into an IRA. How secure are IRAs now? How about gold or silver IRAs? I guess that my main question is, what should I avoid doing at all costs with investing?
Carolyn’s response: Bank accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) and credit union deposits are guaranteed by the National Credit Union Administration (NCUA). I cannot tell you from one month to the next which government fund is more stable (which depends on the balance versus potential claims) but, traditionally, it has been thought that both funds have the implicit guarantee of the U.S. government if they become insolvent. It is always best to hold funds in a financially stable credit union, bank, or savings and loan. Deposits, including CDs, are guaranteed up to $250,000 for each separate account. If you have more than $250,000 on deposit, consider holding no more than $250,000 in a given account under a given name. The rules are described on the web pages for FDIC and NCUA.
An IRA is as secure as what you invest it in. If you are retired, you might consider taking the income earlier rather than later to invest in something that does not qualify for holding in an IRA without a great deal of legal wrangling (e.g., a private investment in a business). As always, it depends on your circumstances. Having control over your money is always better than not having control. Many pension funds have funding issues.
Catherine’s response: I do not use IRAs or 401(k)s. Here is why: https://library.solari.com/financial-coup-detat-your-401k/.
Question: I am a health care professional and own a commercial condominium in NYC with a small mortgage, which gives me freedom of practicing the way I want. Is my investment safe? With my profession it is not easy to sell the property and move since a practice takes time to build.
Catherine’s response: Your risk in New York will likely be local laws and enforcement, so you want to be aware of what is happening. Do make sure you have good fire and liability insurance that will protect your equity investment.
Question: I am concerned that as the powers-that-be control issuance of cash, too, as they continue to pursue their implementation of a “cashless society,” will we increasingly be seeing “no cash available” at cash dispensing points? I just feel they must have a plan to phase out/control/diminish availability of cash. What are your views on this?
Catherine’s response: This is likely. The more we use cash and the greater the market share for cash, the harder it makes it for the central banks to do this.
Question: I heard Catherine mention something about joining local Solari groups. Is there any sort of list of these groups?
Carolyn’s response: Are you a Solari Report subscriber? We have a “Solari Connect” program available to subscribers. If you are a subscriber, you can do a search for “Solari Connect” when you are logged in to find out more. Even if you are not a subscriber to the Solari Report, you can start your own Solari Circle!
Catherine’s response: “Take Action 2021” is open to the public on the Solari Report site at https://takeaction2021.solari.com. See all four parts, including “Loosen Technology’s Grip on Your Mind.”
The Connect software to form circles with other subscribers is currently subscriber-only. We have had discussions on how to connect up with local members of Children’s Health Defense, the Weston A. Price Foundation, and the Farm-to-Consumer Legal Defense Fund; so far, we are just encouraging people to connect locally.
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