Where is a SAFE place for my money?

Question

I DON'T TRUST ANYTHING ABOUT THE FEDS, the MARKETS or the Polititians right now. I have my money in a diversified Schwab Portfolio. I got out of all volitile stocks last Friday (and I dont really want to hear opinions about that. I can not afford to sit and watch my money go away. I would have nothing LEFT when the recovery happens!)

I am questioning EVERYTHING! I do not even trust FDIC.

Question: has it ever really been put to the test?

I see this : "In Los Angeles, police had to order people lined up outside an IndyMac Bank branch to remain calm or face arrest as they tried to pull out their money on the second day of the failed institution's federal takeover"

If FDIC is so safe - WHY could these people not just go thru the DriveThru and GET ALL THEIR MONEY WITH NO PROBLEM? Really ! I read 90 more banks (can anyone tell me WHICH 90?) may fail. Does that mean that if I move this cash into CD's that they could be at risk? WHAT ABOUT BUYING GOLD? WHAT IS TOTALLY SAFE???

Answer 1

A BANK!!!!!

Answer 2

First of all, gold is not safe.

It's gone up, it'll go down.

Besides, what intrinsic value does gold have?

In the mess after Katrina, did you see people bartering wiith gold?

No, but I bet you could have bought a TV with a few bottles of water and some canned food.

Second, find me one news article that talks about people with INSURED deposits lining up and panicing.

Answer 3

get a safe

or the bank

Answer 4

hahhah you are funny, i would say put it in cd, or money market, the bank could protect your money upto 100,000 . so less than 100,000 you should be fine no matter what happen, dont, i think now is better to buy silver, with that you could make money now

Answer 5

safefest place for ur money besides a bank is in  ur own hiding place like set up a location in ur home or on  ur property that u can set up a safe and save ur own money urself

Answer 6

You're getting a little paranoid.  However, there is NOTHING in life that is "totally safe" including gold or other commodities.  Life = risk.  Diversify and invest prudently - that is the best plan.

Answer 7

In the mattress

Answer 8

Get a safe and bolt it down to the floor. That way, no one who breaks in gets all your money.

Answer 9

Some smartbutts really came out didn't they?

While nothing is 100% safe in the world, you're already in a great place.. Schwab..  I have 1/3 my money with them.  Realizing that the markets were likely to get chaotic, I put most of that money in their Money Market Funds.  It's not beating inflation at the moment with a 2.24% interest rate, but the interest rates may go up and the MMFs provide the greatest flexibility and safety in my opinion.

Answer 10

in my pocket so no one will steal it so just gimme my i mean ur money and ill just walk away

Answer 11

Buy government bonds. They may not pay much interest, but if it's safety you want.......

Answer 12

a safe.

Answer 13

In reality, no one is really safe from anything. Things happen to all of us, whether we like it or not. When it comes to money, the only safe place to keep it is at a bank because there aren't too many risks of losing it. With all these stories on failing banks, it's hard to know just what to do. Anything that you do has some risks. You could just get a fire-proof safe and keep it all at home.  Some people s***w it to the floor so even if your house gets robbed, they can't walk away with your money. Forget about gold for now and just save the money you're making from work.

This is a search for failing banks, if you wanna know more, just look through them. Hope it helps.

http://us.search.yahoo.com/search?p=fail...

Answer 14

The safest place would be in my safe.

Answer 15

FDIC and the Fed can pretty much put out as much money as they want, so dont worry about that.

I would tell you to get a bunch of unmarked, crisp $100 bills and bundle them all up in your bank's safe deposit box.

The thing with the bank liquidity wont affect the contents of the bank boxes. It's the monetary accounts that are in trouble; basically, your bank gets money from the patrons, but loans out money to borrowers. When people make a rush on the bank, they end up not having enough cash on hand to guarantee that you will be able to retrieve money.

But, we wouldnt have to worry about bank liquidity if everyone wasnt running around like chicken little trying to get their money and stick it in a safe deposit box!!!!

Answer 16

maybe empty a coffee jar and put your money in there :)

Answer 17

in my wallet-

you want my address??