5 ms·

Don't think it will work. Banks accounts are federally insured.

by recursive 4y ago

jbverschoor 4y ago
Here in Europe is's only 100k per account per holder. (Used to be 20K in NL)
- recursive 4y ago
  Having 100k in a bank account seems to be well into 1%-er territory. I don't think that's going to do much for the alleged PR campaign conspiracy.
  - rootusrootus 4y ago
    Nah, especially among older folks, 100K+ in a bank account is fairly common. My mom does, my grandmother did, my stepmother does, and trust me none of these folks are 1%ers or even close.
    - recursive 4y ago
      Huh. Well, I'm surprised. $100k in a bank account is earning next to nothing, and is probably (opportunity) costing at least $5k/year. I would have assumed that people that can afford not to care about that would be in the highest tiers of wealth.
      - postalrat 4y ago
        Gotta keep some petty cash for small purchases.
      - rootusrootus 4y ago
        I have several ideas (with no scientific basis, just observation) on what drives the behavior. Old people today lived through some much leaner times than we are accustomed to, so having easily accessible cash is appealing. They don't care to deal with investment complexity. And they have this kind of money in a checking account because it just accumulated through routine saving over the course of 50 years; it's habit. Plus, their situations are different from a typical younger person today. All of the folks in my family who keep large amounts of cash in their checking account are mostly not relying their own savings to live. They all have pensions and social security, they're not pulling from an IRA at this point. They've never had the habit of directly investing in their own retirement.
  - jbverschoor 4y ago
    Let’s say you just got your 10m series A, and you you gave 1 week of runway left. That’s not even enough to make an emergency landing
antibasilisk 4y ago
[flagged]
- deleted 4y ago
  [deleted]
- theGnuMe 4y ago
  Themselves. They have magic money printing machines.
monocasa 4y ago
At essentially $250k per account (although like all things banking the specifics are far more complicated than that).

Don't think it will work. Banks accounts are federally insured.

jbverschoor 4y ago

Here in Europe is's only 100k per account per holder. (Used to be 20K in NL)

recursive 4y ago
Having 100k in a bank account seems to be well into 1%-er territory. I don't think that's going to do much for the alleged PR campaign conspiracy.
- rootusrootus 4y ago
  Nah, especially among older folks, 100K+ in a bank account is fairly common. My mom does, my grandmother did, my stepmother does, and trust me none of these folks are 1%ers or even close.
  - recursive 4y ago
    Huh. Well, I'm surprised. $100k in a bank account is earning next to nothing, and is probably (opportunity) costing at least $5k/year. I would have assumed that people that can afford not to care about that would be in the highest tiers of wealth.
    - postalrat 4y ago
      Gotta keep some petty cash for small purchases.
    - rootusrootus 4y ago
      I have several ideas (with no scientific basis, just observation) on what drives the behavior. Old people today lived through some much leaner times than we are accustomed to, so having easily accessible cash is appealing. They don't care to deal with investment complexity. And they have this kind of money in a checking account because it just accumulated through routine saving over the course of 50 years; it's habit. Plus, their situations are different from a typical younger person today. All of the folks in my family who keep large amounts of cash in their checking account are mostly not relying their own savings to live. They all have pensions and social security, they're not pulling from an IRA at this point. They've never had the habit of directly investing in their own retirement.
- jbverschoor 4y ago
  Let’s say you just got your 10m series A, and you you gave 1 week of runway left. That’s not even enough to make an emergency landing

antibasilisk 4y ago

[flagged]

deleted 4y ago
[deleted]
theGnuMe 4y ago
Themselves. They have magic money printing machines.

monocasa 4y ago

At essentially $250k per account (although like all things banking the specifics are far more complicated than that).