Interesting info here....the FDIC now backs "noninterest-bearing accounts" to an UNLIMITED AMOUNT!!!!! See here -> http://www.fdic.gov/deposit/deposits/changes.html OK, so who the heck has a "noninterest-bearing" account??? Hmmm, could this be related to one of my previous posts? Is this "money" deposited from Cede & Co. that needs to be backed up? I asked a question a while back...how safe are the stocks you "own?" I asked it in this thread -> http://www.elitetrader.com/vb/showthread.php?s=&threadid=211059 Anybody have insight into this? What the heck is going on? -gastropod
1) Banks practically pay no interest on checking and savings accounts. Therefore, they are almost all non-interest bearing. 2) Try to keep your money in a "safe" bank that will not become illiquid. 3) Don't rely on the FDIC for "protection". Their "guarantee" is "good" as long as you never need it. :eek:
The FDIC's guarantee is good as long as the FED has the ability to print money because the FDIC is backed by the FED. Therefore, the banking system is not in trouble, presently.
The banks all over the world own the stock market and financial markets and own the forex market...the 4 pillars gone...banks are making billions in profits on the expense of the average joe...banks don't have any money to lend...they borrow money from the central bank 0% the 4 pillar financial was what prevented teh 1929 crash from not happening for 80 years. now the bank global syndicate back to it's evil ways.. they control the markets...and the economy. they are borrowing money at 0% and buying up stock and pushing commodities up and causing inflation while Ben is worried about the boogie man deflation. the banks are making fortune in trading this market and rigging this market .. the millionaire traders are traders working for the banks..all the hedger funds depend on th banks money..the banks get the money from the central bank. the reason for the crash of 2008 was the credit crisis.there was actually no money as all the money was credit money or borrowed money to buy paper assets and when the party was over when lehman close their books the house of cards folded......same thing this market is high on credit or borrowed money...now the FED is printing money money that dosen't exist and lending it to the banks to pump up the markets. reality is there is not enough savings or cash in the world to buy all the equities or lend to the US gov't to cover the deficits.... why do you think the US dollar is worth LESS than the Canadian dollar... the problem with continuous non-stop quantitiateve easing is it leads to hyperinflation or inflation and causing any job recovery to halt. the economy cannot stand a $200/barrel oil. there is no free lunch with quantitative easing... the banks are making money of the working people.. who pay higher prices for everything...like stocks house,food etc...