Comment: In theory this is a free market solution

(See in situ)


In theory this is a free market solution

But in practice no. The problem is in a real bankruptcy, the largest depositors and cronies of the bank will be alerted before the bank goes under and will pull all their money out. This will leave only the small depositors left to be crushed by the debt write down.

People just need to wake up and realize the risks associated with the banking system. Get your money out now! I realize many people have to do business with banks for direct deposit from work. If you do, work with a local bank or credit union that doesn't have trillions of dollars in derivatives exposure. You aren't making any money in your savings account anyways so just hide your cash and/or gold somewhere on your property and you will be far safer than in a bank vault.

peace + liberty = prosperity