[MysticMoons]

So people are going crazy because one tiny bank failed. Well I am not worried I never put money in that bank. Plus my money is insured. and yes well here Mutahar explains the whole and why people are going crazy. one thing about this bank that failed is that Roku had millions of dollars in there.

[Emmaojo]

Eh Banks, also in my country, are not feeling well because online banking apps have wanted to take their place in terms of making transaction free and many cashback to receive from them. This is why cashless policy affect a lot of citizens because they have to make money through riches.

[sabtra]

Glad the money of private citizens is insured.
As a general rule, when you deposit money to a bank, you no longer own it. You just own "credit".
Hopefully the Federal Reserve will intervene, it feels like this could have been prevented so maybe it was done on purpose.
Again, the rich get richer.

[nela13]

Glad the money of private citizens is insured.

In my country, bank deposits are only insured for up to 100,000 euros. If you have more than that, you could lose your money if the bank goes bankrupt. I'm safe, I don't have that money

[MysticMoons]

Glad the money of private citizens is insured.
As a general rule, when you deposit money to a bank, you no longer own it. You just own "credit".
Hopefully the Federal Reserve will intervene, it feels like this could have been prevented so maybe it was done on purpose.
Again, the rich get richer.

this is why I am turning all my money into gold. and burying it in treasure chests
like the pirates did!

[augusta]

it will be bad debt bsnks go bankrupt a lot of times when they can't recover their debt

[MysticMoons]

well the bank better have my money like the song says! i love money its so nice

[sabtra]

In my country, bank deposits are only insured for up to 100,000 euros. If you have more than that, you could lose your money if the bank goes bankrupt. I'm safe, I don't have that money

I think it's the same in the US, except it's in dollars. In some countries those who have more than 100k also have to pay taxes just for owning that much money and they usually turn the "extra" into stocks and other assets. It's usually a good idea to keep the bare minimum in liquidity.
I don't have that problem either, guess we're lucky.

I am turning all my money into gold. and burying it in treasure chests
like the pirates did!

Just remember where you buried all that gold. I can help with drawing maps.

[nela13]

In some countries those who have more than 100k also have to pay taxes just for owning that much money and they usually turn the "extra" into stocks and other assets. It's usually a good idea to keep the bare minimum in liquidity.
I don't have that problem either, guess we're lucky.

I have no idea if there is a tax for those that have more than 100K in my country, but there probably is as I pay taxes every time my deposits earn me something.
I can't believe how lucky we are

[raaman]

Nowadays, even banks are not reliable!

[Emmaojo]

Most banks have sold above 50% shares of their capital so this makes them unable to manage well when there is economic problem.

[friendociate]

I learned about it from MSNBC, so--naturally--I blame Republicans ... they relaxed the solvency-laws that used to apply to banks that get that big.

[MysticMoons]

Nowadays, even banks are not reliable!

they can burn in hell! I am turning all my money into gold coins and bitcoin.. its the only real way
to ensure my money

[friendociate]

Nowadays, even banks are not reliable!

they can burn in hell! I am turning all my money into gold coins and bitcoin.. its the only real way
to ensure my money

Right, because money isn't real unless-&-until it buys something; it's like "plans for the future"---they're GREAT when you really follow-through on them, but until then they're just 'happy thoughts'!

[Manuu]

Nowadays the news about banks collapsing have become so rampant that I am scared of depositing my money to the banks

[friendociate]

Nowadays the news about banks collapsing have become so rampant that I am scared of depositing my money to the banks

Oh really? I've only heard about two. How many more have you heard, to make the news so "rampant"?

"Rampant" comes from a wordroot that means "to Climb, Mount, Scale (like a Ramp ... though it also means 'Standing on the Hind Legs (like a Heraldic Lion), Fiercely, Ravenously')"---the same root that gives us "Rampantly, Rampancy, Rampage, Rampages, Rampaged, Rampaging."

[Treborika]

Initially I had the fear of saving my money in the bank accounts over collapsing bank's as time goes. However this is a bit disappointing to the members for that banks.

[MysticMoons]

it is better to buy gold coins and bury them in a chest! this is what pirates did.. they knew the evil banks
are not to be trusted

[friendociate]

it is better to buy gold coins and bury them in a chest! this is what pirates did.. they knew the evil banks
are not to be trusted

You probably shouldn't conflate "greed" and "evil" (or else you might mistakenly think YOU are evil ... your only reason for calling them 'evil' being their desire for money you don't think they deserve; where we ourselves desire money that others think we don't deserve).

"Conflate"--I'm reminding myself--means "Combine (Words, Ideas, etc.) into One," from a wordroot that means "to Blow Together, Kindle, Fuse"---also the root of "Conflates, Conflated, Conflating, Conflation."

[MysticMoons]

i just turned all my money into gold and buried it.. the other is hidden on a site all in bitcoin... lol
they will never get my money.........! my precioussssssssssssssssssss lol