Hello Mr. Livingston,
We’ve been reading your newsletter for quite some time now. I have a question. What do I do with $150,000 dollars in the bank? I believe everything you are saying is about to happen and we are worried about losing our hard earned retirement savings. Please advise.
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 “haircut,” as happened in Greece last spring. I explained this in detail here.