Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

Click for more information

0.51%

$1,391.7 gold futures

Ofcourse not. And you should know that the money is given to the...

First 64580 Last

Share
Profile

Follow
albatrosss

19,798 Posts.

636

17/01/20

17:04

Post #: 42440407
Share

Originally posted by AverageJoe: ↑

I will relate a real story from a victim friend of s bush fire many years ago. He unfortunately believed and so did I that a fire proof was exactly as claimed. They didn’t say the contents were fire proof, just the safe and in that story it was a post burned still fully functioning safe. The cash unfortunately turned to ash!

Regardless where cash is stored as physical or electronic, there are risks. I rather spend the time understanding the fiat monetary system than worry through ignorance creating paranoia about the safety of banks etc.

There is current however some speculation that the post Govt bank deposit guarantee reduced from initial $1M to $250K cannot be adequately met by the authorities if a bank run is triggered. Until fully tested heaven forbid I didn’t think the size of such guarantee was sustainable.

Expand

Ofcourse not. And you should know that the money is given to the bank and not you.
The bank distributes it. And has the power to give you less if it sees fit, as i understand it.
it sounds great, like the fireproof safe. But one must read the fine print
3 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 61,853 more messages in this thread...

First 64580 Last

Add GOLD (COMEX) to my watchlist