watgate Posted July 28, 2020 Share Posted July 28, 2020 My limited understanding is the US Gov't can confiscate funds in excess of 250.000 usd on deposit by depositors in a crisis situation based on a law that was passed which addressed ball-ins by financial institutions. What has me a little concerned is I was reading an article recently which stated that funds in excess of 100.000 usd on deposit in a financial institution in the US can be confiscated in a crisis. Is anyone familiar with the current threshold amount and is anyone concerned at all about the possibility of something like his coming to fruition? I guess if one had their money in stocks they would be outside the long arm of the law. In these crazy and uncertain times it is best to try and position oneself for any possible situation, however remote it might be, so I am interested in hearing about other folks strategies or investment choices especially in these trying times. Link to comment Share on other sites More sharing options...
worgeordie Posted July 28, 2020 Share Posted July 28, 2020 They always get it,one way or another,I would not like to live in a country where the Government and Banks can steal your money, because THEY have made a mistake. regards worgeordie Link to comment Share on other sites More sharing options...
Pib Posted July 28, 2020 Share Posted July 28, 2020 More info on the OP's post. And am I worried regarding my US bank deposits? No. https://gsiexchange.com/how-dodd-frank-made-it-legal-for-banks-to-confiscate-funds-during-a-banking-crisis/ Link to comment Share on other sites More sharing options...
Leaver Posted July 29, 2020 Share Posted July 29, 2020 On 7/28/2020 at 7:02 PM, worgeordie said: I would not like to live in a country where the Government and Banks can steal your money, because THEY have made a mistake. Which countries do you see as safe havens then? Link to comment Share on other sites More sharing options...
cmarshall Posted July 29, 2020 Share Posted July 29, 2020 Seems like a ridiculous concern. The Federal Reserve can create money out of thin air and lend it banks and sometimes other businesses interest-free, if they wish. Currently, the US Congress can borrow apparently unlimited amounts at interest rates close to zero. There is a lot to worry about in the current situation. Federal confiscation of your bank account isn't one of them. Link to comment Share on other sites More sharing options...
Leaver Posted August 7, 2020 Share Posted August 7, 2020 On 7/30/2020 at 6:07 AM, cmarshall said: There is a lot to worry about in the current situation. Federal confiscation of your bank account isn't one of them. How about in Thailand? Do you really think a bail-in or an account hair cut is not possible? Link to comment Share on other sites More sharing options...
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