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Is our money safe in banks?

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Is our money safe in banks?

Postby tuhin71 » Sat Mar 23, 2013 2:36 pm

Do the govenment protect it?

I think there could a another banking crisis if Greece defualts, as others may defualt too, and the banks will lose loads of money, and the govenment has no money to bail them out anymore.
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Is our money safe in banks?

Postby hoireabard » Sat Mar 23, 2013 2:51 pm

Do the govenment protect it?

I think there could a another banking crisis if Greece defualts, as others may defualt too, and the banks will lose loads of money, and the govenment has no money to bail them out anymore.
The safest in my opinion is to invest in the AIM section of the FTSE in the London stock exchange.

It will increase more in a bull market, and can be watched and adjusted in a bear market.

I am doing it in the UK and have been since 1986. Still doing investing at 91 years for my living.
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Is our money safe in banks?

Postby haniel » Sat Mar 23, 2013 2:55 pm

Banks collect deposits of various nature from public and lend to various activities.
Banks lend only 60 - 70 % of the deposit and the balance they keep in liquid asset
to meet eventualities. Besides, all Banks have good reserve and their own capital
and a lot of assets like their own office buildings. They have also deposit insurance to a certain limit of deposit amount.
They take care of their Liability ( deposits) Assets ( loans) management.
So money is safe with a Bank.
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Is our money safe in banks?

Postby devery » Sat Mar 23, 2013 3:17 pm

Yes. Right now a number of banks are under pressure because they're so exposed to mortgages. And one way you can tell is if a bank is offering a higher interest rate on CDs or savings accounts than the bank down the road. The reason they do that - and IndyMac Bank was one of those banks. They were doing it because they desperately needed deposits because they were having some financial trouble.
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Is our money safe in banks?

Postby nicky73 » Sat Mar 23, 2013 3:21 pm

Don't panic. Your money might be locked for some time, but it is not lost. If you have kept it in savings or checking account or a deposit, your money is safe.
If you still think it is not safe, withdraw all the money from bank and keep them at home. But I don't think it makes any sense.
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Is our money safe in banks?

Postby rendall » Sat Mar 23, 2013 3:24 pm

for most banks yes. If it gets to the point where even banks are broke, then we are all probably gonna be screwed anyway so it wont make any difference
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Is our money safe in banks?

Postby oakden » Sat Mar 23, 2013 3:37 pm

hi, the first £80.000 is covered by the banks in case of any crisis.
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