Loading ...It’s come up on this page. What do you think will happen to cash– money in the bank or money in cd’s or other short term instruments– in the event of banking crisis, bank failure, financial collapse? We always hear about FDIC insurance; you’re covered and you’ll get your money if the bank fails…but will you? Will you if there is catastrophic failure rather than just a few that can be bailed out (as has happened in the past)? The guy in the video at 9:57 talks about vastly underfunded FDIC and raiding individual accounts. Whether they simply can’t pay because the losses are too large and too widespread (which can happen to any insurer, and has plenty of times, I’m sure), or whether they actually raid individual accounts for cash; either way, you have cash in bank account or bank instrument…you lose. Does it cause you enough concern to stash your cash somewhere else; somewhere outside the banking system?
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