"What you own instead is a promise from the bank to repay. It’s an unsecured liability. That’s a very different thing from owning physical cash stuffed under your mattress...
Cash deposited into the bank technically makes you a creditor of the bank. You’re liable to get burned should the bank make a bad bet and get into trouble...
Government deposit insurance schemes are a false sense of security. With their current reserves, they could only cover less than half a penny for every dollar they supposedly insure.
...The way the political and economic winds are blowing, things are [likely] about to get much worse.
Central banks around the globe have created the biggest financial bubble the world has ever seen. Interest rates are the lowest they’ve ever been in 5,000 years of recorded history. In some parts of the world, they’re even negative.
We’re living in a financial Alice in Wonderland.
...the social and political implications of this bubble bursting [may be] even more dangerous than the financial consequences..."
http://www.internationalman.com/articles/not-everybody-went-down-with-the-titanic
Cash deposited into the bank technically makes you a creditor of the bank. You’re liable to get burned should the bank make a bad bet and get into trouble...
What is the establishment going to do,
bail themselves out again with everyone else's money?
Government deposit insurance schemes are a false sense of security. With their current reserves, they could only cover less than half a penny for every dollar they supposedly insure.
Truism
...The way the political and economic winds are blowing, things are [likely] about to get much worse.
Central banks around the globe have created the biggest financial bubble the world has ever seen. Interest rates are the lowest they’ve ever been in 5,000 years of recorded history. In some parts of the world, they’re even negative.
We’re living in a financial Alice in Wonderland.
...the social and political implications of this bubble bursting [may be] even more dangerous than the financial consequences..."
http://www.internationalman.com/articles/not-everybody-went-down-with-the-titanic
