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it's 250k per account so.. no one should have uninsured deposits
by denimnerd42 7y ago
it's 250k per account so.. no one should have uninsured deposits
- Mirioron 7y agoBut if the system collapses, what's the chance of actually getting the value of your money back?
- JamesBarney 7y agoPretty good. Its insured by an entity that can literally print money.
- Mirioron 7y agoYes, but if they print money then your $100k will be worth less than $100k. This is why I asked about value. People saved to buy an apartment towards the end of the Soviet Union. When the Soviet Union collapsed they could barely afford a car for the saved money.
- cm2187 7y agoYou don’t need for the financial system to collapse for inflation to eat into these deposits. Even target inflation (about 2%) eats these low yielding deposits over the long term. And the never ending increase of public debt will result in high inflation at one point. My point being that if you have $250k in savings, it probably shouldn’t sit and melt on a savings account.
- JamesBarney 7y agoUsually a bank run will involve people hoardong money, and run away inflation is caused by people spending money as quickly as they get it.(is a rapid increase in money velocity and the other a rapid decrease). So these two forces should counteract each other.
- A2017U1 7y agoThe Venezuelan government can print money too. I really doubt people who get the the face value money back while the value of the money plummets are going to be fooled. How many people will like the price of petrol and iphones doubling overnight?
- acct1771 7y agoAll of the people that can already afford 15 each of those everyday items won't mind.