Yes, its $250K per institution. So say a share trading account, term deposits and a lump of cash in the one institution, and then imagine the exposure vs guarantee. You don't have to look to hard, but it is a shallow, worthwhile rabbit hole for people with cash to delve into. TBEOT wont mention this sort of truth because they don't want people to think about how far they put themselves out on a limb on "govt guarantees banks to $250k".
Banks and "money" seem to be diverging in some way.
Banks for many now are just money transfer businesses.
Why store you money in what is just a processing company? I mean they have way more debt than cash, and lots of that debt in things that can be neglected, burned, washed away or de-valued.
I believe if TSHTF, creditors will bear the brunt , not just debtors. See, debtors can bankrupt, walk, wait and start again. Creditors usually loose their only chance.
Any way, own your nest and spread your eggs.
GOR Price at posting:
$1.78 Sentiment: Hold Disclosure: Held
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