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Now You Can Panic: Economist Withdraws All of His Money from Bank of America
2014 Feb 1, 10:04am 1,762 views 8 comments
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Strategist
2014 Feb 1, 12:03pm
Anyone who puts $1million in a checking account is a fool. He could have doubled his money if he put it in the stock market a few years ago.
Bubbabeefcake
2014 Feb 1, 11:34pm
And economists are always right.
Noticed he picks Bank of America? Its the weakest bank of them all and isn't part of the exclusive club that bernanke has.
BAC is a criminal organization. That is reason enough to pull your money. The USA has had as a recent Treasury Secretary a common, but wealthy criminal - Hank Paulson. As even flagrant drug money launderers will not be jailed, citizens may have to take the law into their own hands.
John Bailo
2014 Feb 2, 4:28am
FDIC insures up to $100,000. Is that per person total. Or per bank. Or per account within the bank?
Also, if you have more than $100,000 cash, and you can't insure more than $100,000 in banks...where do you put it that's safe?
John Bailo
2014 Feb 2, 5:02am
APOCALYPSEFUCKisShostikovitch says
If you're really expecting broad swaths of failures, spread your deposits over institutions that have strong reserves.
Yeah, I figure at the point that the banks can lose our money things will be so bad we'll be fighting it out in the streets anyway. So I just can't worry about those things.
New Renter
2014 Feb 2, 6:43am
Anyone who puts $1million in a checking account is a fool. He could have doubled his money if he put it in the stock market a few years ago.
Like JCP?
http://www.pbs.org/newshour/making-sense/is-your-money-safe-at-the-bank-an-economist-says-no-and-withdraws-his/#the-rundown