Deposits Are Dangerous
Hello Mr. Livingston,
Â Weâ€™ve been reading your newsletter for quite some time now.Â I have a question. What do I do with $150,000 dollars in the bank?Â I believe everything you are saying is about to happen and we are worried about losing our hard earned retirement savings. Please advise.
Â Thank you and God Bless,
I am not a financial adviser and for legal reasons cannot provide advice on what you should do with your money. I can only tell you of the danger of keeping your money in banks. Bank deposits are now considered loans to the bank, making depositors unsecured creditors. Should the bank get in trouble, it can seize your deposits without compensation. In the event of a banking crisis, your bank deposits will get a â€śhaircut,â€ť as happened in Greece last spring. I explained this in detail here.
Bob Livingston is an ultra-conservative American and author of The Bob Livingston Letterâ„˘, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.
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