A deposit in a bank is not a riskless form of saving. “Banks are not vaults. They are thinly capitalised asset managers that make a promise– to return depositors’ money on demand and at par– that cannot always be kept without the assistance of a solvent state.” Or, in our case, a fiat currency with a central bank willing to print enough money to reflate asset prices and keep the banks afloat. The theme song of fractional reserve banking is “I’m forever blowing bubbles.”
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It's getting time to take one's money out of the bank and invest in heavy metals, like copper jacketed lead.
Who is Bubbles?
Exactly what I've been saying all along, Corporate Greed stole our gold.
Another appearance by the one-note tard....Give it a rest dickhead....Even Hitler knew when to check out....
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Government managed 401Ks, anyone? That one is floating around the Leftosphere now, and it's only a matter of time before the Media Masters decide that it is a mainstream idea, and begin flogging it as the only solution to our economic woes.
Well, since all my assets are tied up in poverty I guess I don't have to worry.
What the hell, my credit must be good, because I owe every one.
Just kidding about that last bit. I save money and pay cash for what I want/need. I have 1 credit card with a 5 grand limit, and it has net been used in years, I keep it because if I need to get back home in a hurry for any reason, I have the assets to do so.
They keep wanting to raise my limit, but I have no desire to be worth even MORE debt.
FDIC has $25 Billion in insurance to cover $9,283 Billion In Deposits. Feel better?
No. Who offers the insurane? And if the FDIC has to pay out thoe $9,283 billions in deposits,. what does that say about the rest of the global economy. Where will the insurance payout come from?
It won't. FDIC has very limited amounts of money to pay out. Look it up, I was surprised at just how little it is.
The gold that Corporate Greed stole.
Shut up Cheeto Dick