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>I don't offer financial advice, but it certainly would seem that maintaining bank accounts above the insured limit in any of the countries you listed is very h

>I don't offer financial advice, but it certainly would seem that maintaining bank accounts above the insured limit in any of the countries you listed is very high risk at the moment. I'd agree, but i'd like to add that one would have to be fooling themselves if this high risk is anything but contained to the PIIGS or the EU. ex: Some british pension accounts were hit: http://www.telegraph.co.uk/news/worldnews/europe/cyprus/9944544/British-pensioners-fear-for-savings-as-Cyprus-proposes-capital-controls.html http://www.telegraph.co.uk/news/worldnews/europe/cyprus/9944... I guess in any case, having any bank account over "insurance" limits in any country isn't sound (as we've seen that even those limits can be changed [usually changed or able to be removed at any time like what the FDIC announced in December]). But then again, people don't usually act in a logical manner (which I guess in a weird sense they shouldn't since any currency is ultimately built upon trust or belief which is not directly connected to logic). I guess it's just better to stick to the basics (food,water,shelter) and let the bankers worry about when their fellow citizens or russian oligarchs will come for their heads which according to history, eventually happens :P

qdog 14y ago
It would probably be beyond my abilities and knowledge to really write about the banking system fully. I would note, even the US has a long list of banks on the endangered list: http://www.calculatedriskblog.com/2013/03/unofficial-problem-bank-list-declines_30.html http://www.calculatedriskblog.com/2013/03/unofficial-problem... Some big banks in the US seem immune at the moment, but the recent revelations about Chase losing billions while trying not to reveal it to regulators is just par for the course. I personally trust the US government to back my small deposits far more than any bank. It's not because the US government is so good, it's because the banks are so bad. To me, it appears that without IMF prodding and EU intervention, Cypress would eventually have had a banking collapse that would have wiped out 100% of all depositors. The general operation of banks when losing money seems to increase leverage to try and make up for the losses, instead of acknowledging losses.

qdog 14y ago

It would probably be beyond my abilities and knowledge to really write about the banking system fully. I would note, even the US has a long list of banks on the endangered list: http://www.calculatedriskblog.com/2013/03/unofficial-problem-bank-list-declines_30.html http://www.calculatedriskblog.com/2013/03/unofficial-problem... Some big banks in the US seem immune at the moment, but the recent revelations about Chase losing billions while trying not to reveal it to regulators is just par for the course. I personally trust the US government to back my small deposits far more than any bank. It's not because the US government is so good, it's because the banks are so bad. To me, it appears that without IMF prodding and EU intervention, Cypress would eventually have had a banking collapse that would have wiped out 100% of all depositors. The general operation of banks when losing money seems to increase leverage to try and make up for the losses, instead of acknowledging losses.