12 upvotes, 2 direct replies (showing 2)
View submission: Don't invest recklessly
Uhhhh the FDIC is only for American banks, lmao
Comment by aballbag at 30/11/2017 at 23:26 UTC
14 upvotes, 2 direct replies
The USA is one of the few with a small depositor guarantee scheme, but not every bank is covered.
Also, the European Union is quietly proposing removing their guarantee and forcing everyone into a bail-in system.
Similar to Greece where all accounts are frozen when a bank unilaterally decides that it is "under stress".
Even worse, some countries turn deposits into equity. Depositors now become shareholders in an insolvent bank :(
Hence the interest in bitcoin, even from countries that are not suffering hyperinflation.
Comment by iarguewithshills at 16/12/2017 at 08:59 UTC
3 upvotes, 0 direct replies