We’re not much for writing about conspiracy theories but the links and quotes in some of these sources appear to be correct. These videos are from a November FDIC meeting.
It is important to note that after the 2008 housing fiasco that laws were changed from tax payer funded bailouts to bank depositor bail-ins. In essence, banks can “take control” of your money in your deposit accounts to stabilize the banking system. If you want to learn more, click here for a primer.
Investopedia suggests these steps to protect your funds in a bank.
- Keep a watchful eye on the performance of the financial markets and financial sector
- Ensure the financial institutions you choose are financially secure and stable
- Spread the risk by diversifying your money and assets across different banks and countries
- Keep balances at or below the $250,000 limit
- Make sure you monitor any changes to federal government policies about bank deposits
- Don’t bank with any institution that has large derivative and mortgage books, which can be risky in times of crisis
As always, stay tuned, stay profitable, and stay solvent…