Are bank deposits safe?

Posted by $ prof611 5 years, 1 month ago to Economics
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I have searched the gulch for this, and couldn't find it. I seem to recall something being said about deposits in a bank not really being the depositor's property any more. Could someone enlighten me on this? Is it true? If so, is it possible to do something else with our savings that the government would have absolutely no way of confiscating?


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  • Posted by MinorLiberator 5 years, 1 month ago
    As an advanced degree, free-market economist, all I can say is, regardless whether any laws have actually changed, cash in the bank is not safe, and getting less safe as unheard amounts of fiat money continue to flood the market. In case of a crisis (when rather than if), it will be worthless, and if you think it's really "insured"...well, never mind...

    I'd say you cant go wrong with some hard assets like gold or silver (I probably just violated several licensing laws even suggesting that), not to mention some supplies of food, water etc. in case of a real collapse.
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    • Posted by $ 5 years, 1 month ago
      Thank you all for your input. I guess my best bet so far is to buy the gold at jmbullion, since they will ship it to me. Then I hide it someplace ( effectively stealing it ). If I want to sell, I'm sure there are places here in the Caribbean where I can do that anonymously.

      BTW, if anybody has a better way, and it might be not legal, please PM me.
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    • Posted by $ 5 years, 1 month ago
      Thanks, ML. I would love to get some gold. I've seen it advertised on sites such as jmbullion.com, and they say it is an "IRA approved product". However, does that mean it's going to be reported to the government if I buy it? And if it is, what happens when I want to sell it?
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