SO YOU THINK YOUR MONEY IS SAFE IN A BANK

4 comments

Posted on 16th March 2013 by Administrator in Economy |Politics |Social Issues

,

Today Cyprus, Tomorrow Spain, the next day Downtown USA.

4 Comments

  1. Celtic Tiger says:

    There have been rumbles about this for weeks, but watching the news pop up on Zero Hedge today makes me think this is an Archduke Ferdinand moment in Europe. There will be bank runs galore. This will lead to the economic devastation of Europe and the end of the EU. Unbelievable to see the arrogant, moronic behavior of the Eurocrats. (But of course they are all socialists).

    Oh, and they have pissed off the Russians. I wonder what retaliations Czar Vladimir has up his sleeve. “Mysterious technical trouble” on the Gazprom pipelines may just be a start.

    Well-loved. Like or Dislike: Thumb up 13 Thumb down 0

    16th March 2013 at 9:04 pm

  2. SSS says:

    I’ve said it before, and I’ll say it again. USAA Federal Savings Bank. According to the FDIC, as of June 2011, USAA held over $43.8 billion in deposits with more than 6.3 million accounts. I’d be willing to bet that the deposits today are rapidly approaching the $50 billion mark.

    Anyone can open a bank account at USAA or use their investment services. What you can’t do, if you don’t meet their military-connected membership requirements, is use their insurance (auto, home, etc) services, which are easily the best in the nation.

    USAA is the last “bank”/company in America that the federal government will fuck with. The entire organization is totally front-loaded with active duty, former, and retired members of the armed forces. Plus its an “association,” which provides additional legal insulation that even the TBTF banks don’t have.

    Like or Dislike: Thumb up 2 Thumb down 2

    16th March 2013 at 2:25 am

  3. Bruce says:

    SSS,
    But what happens if………..fiat money that is worthless in the first place becomes worthless? What if investments evaporate (it’s gone) and insurance underwriters go bust or can only pay off in worthless money that’s become worthless? How does the USAA and the integrity of it’s management insulate you from that?

    No matter what we might all be doomed.

    Like or Dislike: Thumb up 3 Thumb down 0

    16th March 2013 at 5:40 am

  4. napari says:

    If you read the actual BCG report included on zero hedge the USA needs to get a 26% haircut to reduce the debt levels to the manageable 180% level!
    Am I frightened….you bet I am and I’ve prepared!

    Like or Dislike: Thumb up 3 Thumb down 0

    16th March 2013 at 6:10 am

Leave a comment

You can add images to your comment by clicking here.