Well-written and easily understandable article by Nick GAMBRUNO on Doug Casey's International Man website

Source: https://internationalman.com/articles/3-shocking-truths-most-people-dont-know-about-money-in-bank-accounts/

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Henry Ford once astutely observed that a revolution would occur overnight if people truly understood the banking and monetary system.

That’s because modern banking is an elaborate illusion—one that lulls people into a false sense of security… until it’s too late.

Large banks can fail within hours, and life savings can vanish overnight.

The US banking system is particularly vulnerable.

So, why do so many people place their confidence—and life savings—into such a fragile system?

It’s because they don’t understand three fundamental truths about modern banking:

#1. The money isn’t yours.

#2. The money isn’t actually there.

#3. The money isn’t really money.

 

You can read the full article here >  https://internationalman.com/articles/3-shocking-truths-most-people-dont-know-about-money-in-bank-accounts/

 

USA doesn't cover much, but most don't have much to cover.  

 

 

TH covers much less, so may want to spread it out a bit (different banks, not accounts in same bank), or keep it invested in land.  2021 was a bit eye opening, 10M to 1M  

 

 

Just spend it, have fun, you can't take it with you 

 

 

1 hour ago, Red Phoenix said:

So, why do so many people place their confidence—and life savings—into such a fragile system?

It’s because they don’t understand three fundamental truths about modern banking:

#1. The money isn’t yours.

#2. The money isn’t actually there.

#3. The money isn’t really money.

Not much else you can do with it.

Same for pensions, investments, insurance, crypto, gold, etc.

 

Best to buy, guns, ammo, claymores, shelf stable food and a bunker to store it all. 

Buy gold.

 

I've got so much stashed away in the house, the foundations are sinking.