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 Will water replace gold someday as the next precious commodity? |
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 As a twenty-one year old, what's the best way to start an investment portfolio with $1000? |
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 What is the best way to invest $300,000? |
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 Interested in learning about investing, the stock market, etc.? |
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dualsailer | Is the FDIC really safe? |
If the USA doesn't have the gold to back the paper money they print. If recession / depression comes can the fed government pay every account? |
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Sharon F
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FDIC is safe because the government is covering up to $100,000 at each banking facility account that you have..... |
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Ken D
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As long as you are under the limits of coverage it is as safe as the U.S. government, and if that collapses the dollar is meaningless. |
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Marla
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Well if the FDIC had to pay every account for what reason, there probable would not be enough people to collect it. |
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Sally
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In theory it is safe.
However, as the other individual posted, if they have to get out the printing presses to cover a economic collapse, the dollar they give you is worthless.
I am not saying this will happen. I am just talking here. |
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jeff410
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Its safer than a gold standard. Its easier to pay 100k per account than to withstand a run on gold. That caused a Depression in the 1890s. |
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Eric Knows Best
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You will never see the FDIC in action because there will never be an economic collapse like the 1920's. There are now security/safety measures that will shut the market down if it drops beyond a certain percent. |
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richard t
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this is a managed economy.there is not enough gold in the world to cover the US debt..........and we don't use gold........
Every bank will not go under at the same time and they only pay up to 100k per person..............also the FDIC is not the whole Federal government............and does not have the power to use the funds of the whole governement to pay.............. |
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Krissyishere
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FDIC is safe assuming that not all banks go bankrupt at the same time. If they all do, then we are just toast. You are covered up to $100k per account per owner. IRA's are covered up to $250K. For example if you had an account with just you on it then that is covered up to 100k. If you were on an account with somebody else, that is covered up to 200K. If you had a trust with 4 trustees then you are covered up to 400K in that account. Hope this helps! |
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muncie birder
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Sure! They will just print more green backs. And a loaf of bread will go for a wheel barrow full. Back in Germany during the depression, a postage stamp went for 10 billion marks at one point. I believe it was Hitler that finally straightened the country out. Gives one pause for thought as to what is happening here. Hitler invaded Poland and we invaded Iraq. Sort of makes me wonder. |
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