Comment: Unless you have, in total,

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Unless you have, in total,

Unless you have, in total, more than the FDIC insured amount ($100K I think), you're probably safe consolidating into one account if that makes your life more simple.

If you do have more than the insured amount I'd keep the money in separate accounts, or if feasible, remove as much money from the banking system period as possible.

We've just seen up close in Cyprus what the elites are likely to do when push comes to shove. They'll protect the little guys to avoid their very lives being threatened by rioting, but they'll have no problem taking the big depositors. Word out of Cyprus this morning is that those depositors with more than the 100K euro insured amounts are facing somewhere between a 30 and 70 percent loss.

This is the downside of fractional reserve banking. When the banks over extend, somebody is going to get hurt. Just because you're only a depositor doesn't mean that you are immune from being a victim. When you deposit money in a bank you have to think of it as an investment in that bank. If the bank goes bust, you could potentially lose all of your money, no matter the amount.

In a fractional reserve world, the money deposited in a bank is NOT owned by you. It's owned by the bank. That's the fact of the matter.

I must be willing to give up what I am in order to become what I will be. Albert Einstein