Sunday, January 26, 2014

A little nervousness goin' on.

HSBC imposes restrictions on large cash withdrawals
"Chipmaker Intel said Friday it plans to reduce its global workforce by over 5,000 people over the next year."
US stocks slammed; Dow falls 300-plus points in worst week since 2011
Lagarde warns of risks to global economic recovery
'The world is catching emerging markets flu': UK and US shares take a hit as plunging currencies worry global investors.


Rhodes said...

The money you place into the bank on most common types of account is no longer your money it becomes literally a credit device to the bank, a loan if you will.
Hence they are able to balk on payments, think about that.

Anonymous said...

your savings acct is an unsecured loan to the bank. because it is unsecured, your acct is last in line should the bank go belly up. And the FDIC has very little actual $ to cover savings acct losses if there is a bank run or a couple (maybe only 1) of the big 3 banks fail.


Anonymous said...

The FDIC is obligated to pay back every dollar lost by a depositor in an insured account up to a statutory limit. But there is no guarantee that those dollars will be worth anything at that point. Remember when gasoline was $0.22 per gallon?