Topic: Harvard Economist says your money isnt safe in the bank, withdraws $1 Million - page 2. (Read 3595 times)
February 04, 2014, 10:49:17 AM
I dont have the answers as to what the alternative is, I just know that I dont personally use any large bank such as B of A. I think buying some precious metals is a good idea, but more so just having food. At the very least it will give you a lower grocery bill for the next few months.
February 04, 2014, 10:19:24 AM
I think everyone is feeling a little uneasy about this. But what is the alternative? Turn 1 mill into gold and bury it in the woods somewhere? If a bank employee sells the information to some criminal the person's life can be in danger. They kill for far less than $1mill.
February 04, 2014, 09:44:17 AM
http://www.pbs.org/newshour/making-sense/is-your-money-safe-at-the-bank-an-economist-says-no-and-withdraws-his/
Harvard economist Terry Burnham is worried about the safety of his money that he formerly kept with Bank of America. His reasoning:
1. I receive zero dollars in interest on my $1,000,000
2. They may not be able to come up with all of it
3. The FDIC only has $41 billion in reserve against $6 trillion in insured deposits
An interesting article, with some tips on what to do with your cash. I've been seeing more and more respected economists come out talking about a very probable dollar crash, this being the most recent one.
Harvard economist Terry Burnham is worried about the safety of his money that he formerly kept with Bank of America. His reasoning:
1. I receive zero dollars in interest on my $1,000,000
2. They may not be able to come up with all of it
3. The FDIC only has $41 billion in reserve against $6 trillion in insured deposits
An interesting article, with some tips on what to do with your cash. I've been seeing more and more respected economists come out talking about a very probable dollar crash, this being the most recent one.
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