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Black monday coming up?
ahofle:
I know it's been that way for decades. My point is that if everyone tries to take their 'virtual' money out of the banks right now, it would become worthless, even if the FDIC gives it to you.
On a side note, here's a pretty depressing 'crash course' on the economy:
http://www.chrismartenson.com/crashcourse
SavannahLion:
--- Quote from: ChadTower on October 01, 2008, 08:43:50 am ---
--- Quote from: protokatie on September 30, 2008, 09:20:48 pm ---
--- Quote from: ChadTower on September 30, 2008, 08:23:21 pm ---
Rethink that. The FDIC is stable and insures you against loss of your money... but doesn't make guarantees as to when you'll get it.
--- End quote ---
Will you care to expound on that? Im not up on my FDIC insurance policies. Does the gov have the right to just say "No! To Drugs (and paying you what the insurance was for)"? Im not too worried about my bank, it is a small local Maine bank that is in an area that is of little risk. But still, I would like to know what you know of FDIC policies when it comes to payment....
--- End quote ---
The gov't has the right to say whatever it wants to say - not necessarily by law but by the apathy of the people. There are never enough citizens to fight something the gov't really wants to do. Haven't been for a long time. On the FDIC issue, that's a general insurance issue, too. Large reimbursements take time. Reimbursements in quantity take time. Your mortgage/rent do not take time. All that has to happen is for your bank to go under and have them take two months to get you your cash back. No mortgage/rent for two months and the result is obvious.
--- End quote ---
Holy crap, I never thought of it that way.
What about Credit Unions and NCUSIF?
At the rate everything is going to hell, my mattress and shotgun are going to be safer places for my money.
SithMaster:
--- Quote from: SavannahLion on October 01, 2008, 06:19:20 pm ---
--- Quote from: ChadTower on October 01, 2008, 08:43:50 am ---
--- Quote from: protokatie on September 30, 2008, 09:20:48 pm ---
--- Quote from: ChadTower on September 30, 2008, 08:23:21 pm ---
Rethink that. The FDIC is stable and insures you against loss of your money... but doesn't make guarantees as to when you'll get it.
--- End quote ---
Will you care to expound on that? Im not up on my FDIC insurance policies. Does the gov have the right to just say "No! To Drugs (and paying you what the insurance was for)"? Im not too worried about my bank, it is a small local Maine bank that is in an area that is of little risk. But still, I would like to know what you know of FDIC policies when it comes to payment....
--- End quote ---
The gov't has the right to say whatever it wants to say - not necessarily by law but by the apathy of the people. There are never enough citizens to fight something the gov't really wants to do. Haven't been for a long time. On the FDIC issue, that's a general insurance issue, too. Large reimbursements take time. Reimbursements in quantity take time. Your mortgage/rent do not take time. All that has to happen is for your bank to go under and have them take two months to get you your cash back. No mortgage/rent for two months and the result is obvious.
--- End quote ---
Holy crap, I never thought of it that way.
What about Credit Unions and NCUSIF?
At the rate everything is going to hell, my mattress and shotgun are going to be safer places for my money.
--- End quote ---
Until they run off together with your money.
This country is getting worse by the day. How Canada doing? Are the politicians there at least useful?
ChadTower:
--- Quote from: SithMaster on October 02, 2008, 12:39:54 am ---How Canada doing? Are the politicians there at least useful?
--- End quote ---
No, but they have a tenth of the population, so they have a much easier job. Plus they have oil and a direct pipeline (literally) to the US' wallet.
shmokes:
--- Quote from: ChadTower on October 02, 2008, 08:56:24 am ---
(literally)
--- End quote ---
I do not think that word means what you think it means. ;D
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