The banks are broke, FRB:H.3

Discussion in 'Trading' started by Aaron Copland, Feb 15, 2008.

  1. Mind providing an explanation?
  2. Essentially the banks do not have enough cash to cover their depositors. They have negative reserves. As far as I can tell this hasn't happened for...oh...I don't know, 50 or so years?

    The question is - what do you do with your money if you cannot trust a bank?
  3. thx for the rapid response, watching now
  4. There you have it. Nothing to fear :)
  5. I would advise people to buy XLF puts and then go withdrawal their funds from the bank. Profitable strategy.
  6. Ever hear of the FDIC ?
  7. No, pray tell! What is that??

    Duh! If you think that's a comfort to the majority of investors, then you should be starting your own talkshow with Day7793.
  8. Deposit your money with a Las Vegas casino.
    #10     Feb 15, 2008