Safe Havens When Gov Guarantee Expires?

[nokiacasio]

The government's guarantee on bank deposits expire in less than three years. This means that if I have heaps of cash in my bank, if that bank goes bankrupt then all my money is gone.

Where then can I put my money that is safe?

Some people say that buying property is safe. However, when you buy land, the title is held by the bank. If the bank goes bankrupt, would I be able to get my title back?

If I buy gold and store it in a safe deposit box at the bank, if the bank goes bankrupt, would I be able to get my gold back?

 

[year of the roo]

Just buy a nice thick mattress and chuck all your cash in there.

What a stupid thread, really.

 

[The KEY]

The government's guarantee on bank deposits expire in less than three years. This means that if I have heaps of cash in my bank, if that bank goes bankrupt then all my money is gone.

Where then can I put my money that is safe?

Some people say that buying property is safe. However, when you buy land, the title is held by the bank. If the bank goes bankrupt, would I be able to get my title back?

If I buy gold and store it in a safe deposit box at the bank, if the bank goes bankrupt, would I be able to get my gold back?

By creating a thread this stupid, I'm surprsed you have any money

 

[Papa Juggs]

Yes the Government has given us a doomsday clock.

All accounts will be reset to $0.

 

[HighettBomber]

The government's guarantee on bank deposits expire in less than three years. This means that if I have heaps of cash in my bank, if that bank goes bankrupt then all my money is gone.

Where then can I put my money that is safe?

Some people say that buying property is safe. However, when you buy land, the title is held by the bank. If the bank goes bankrupt, would I be able to get my title back?

If I buy gold and store it in a safe deposit box at the bank, if the bank goes bankrupt, would I be able to get my gold back?

If you are relying on the deposit guarrentee and the Australian Gov goes bankrupt what are you going to do?

 

[utility]

Hard assets. That includes gold. Google 'Alpa Strategy' and read the PDF book. No asset is 100% safe, even property can be confiscated (stolen) or destroyed.

The government guarantee doesn't provide you with guaranteed access to all of your money when you want it, nor does it guarantee the money will retain its purchasing power.

 

[ChrisFooty]

Dit it ever occur to you that the economy might be recovering in 2011?