Are you confident in your bank?

Question

Let's face it, the FDIC and US Government cannot allow citizens to lose their savings. They will do anything and everything to avoid that.

I'm more concerned with the news media concentrating their coverage on the minute number of bank customers that have uninsured savings.

Runs on banks are unnecessary.

Answer 1

Yes, panic is contagious. But since I don't have more than $100,000 in any account, I'm not concerned.

Answer 2

Anybody still keeping money in banks deserves to be robbed. Small amounts - a hole in the garden.(dig it at night so the neighbours can't see) Larger amounts - spare tyres are good. Really large amounts - see your local mafia representatives. (they take @40% whereas your bank will take the lot! Get it?)

If things get really bad get a wheelbarrow to transport cash about. In Zimbabwe an egg costs four billion Zim. dollars.

It won't get that bad in the US but you may still need a wheelbarrow for that loaf of bread.

Answer 3

i don't got anywhere near 100 grand, no worries for me. however, if I were a rich folk, I would use my paper money to buy solid bars of gold or platinum instead of putting money in the bank

Answer 4

I'm confident in my bank, I don't have enough money in there to worry about and the government guarantees I will get it back depending.  What worries me is the devaluation of the dollar.  If foreign countries start selling off our dollars and investing in the Euro, then the value of our dollar will decline rapidly.  Look at the inflation in other countries where a dollar bill today can buy a pick up load of their money but then it would take that much to buy a loaf of bread over there.  Japan and China have been investing heavily in the dollar keeping the value of the dollar up to a certain degree but that could change overnight.  If the dollar is devalued much more, all the money you have in the bank will be worth a whole lot less.  Of course you could draw it out of the bank and hide it in your mattress but with a devalued dollar, it sure won't be worth the value it is today.

Answer 5

Yes

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Why

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Because I have under $100,000 in just one name if I had my wife on another set of accounts then it would be $200,000 insured  

by the government

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The only think that kind of puzzles me is if the government has to bail out all these banks IF THEY do go deep 6

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Where does the government get all this money at

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I know they print up a ton of money every day but what gives them the right to just tell the presses to start the days printing with only $1,000 bills

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Answer 6

Maybe I'm wrong, but I think there is way too much sensationalism in the news. They like to scare people.

I'm pretty confident in my bank.

Answer 7

If your bank has LLC. at the end of its name, be careful, Indymac customers are learning the "LLC" was the loop hole around not protecting their monies byond $100,000.