Quote from: jakelyson on June 16, 2016, 09:51:40 PM

Quote from: randy8777 on June 16, 2016, 02:14:51 PM

Quote from: Hashminers on June 16, 2016, 01:36:02 PM

One of the problems with saving your money with a bank is that the small amount of interest you get from them right now does not out pace inflation so you will be losing money the longer you money is in the bank just because of inflation alone.
You would be losing even more money if you account in the opportunity cost of the investments you could have made with the money while it is in the bank.

this week there was a complete news item about people removing a large percentage of their savings to use that money for investment purposes. the low interest rates are a reason for that, but also the fact that some backs even consider to charge negative rates on savings accounts. that to me doesn't make any sense. how much more want banks to squeeze out people? it's just insane.

Any link on this news? So we can check the authenticity of this news. I do not think banks will make that move, charging negative interest. Who will put their money on a bank that will charge you negative interest? That is just insane. You don't money in the bank to lose it, you put it there for safe keeping.

The bank really is the most legal institution of money stealer from their clients. Since they are permitted by the gov't to operate.
Of course the gov't has share for it, so for me it is always been better to save money in your own piggy bank. Even there is no interest adding up
to your savings. But it is much more safe in it.