I live in the states. FDIC. Trust my bank just a smidgen more than some d00d from Cyprus - the home of secure banking 
But you go right ahead and invest.
*Danny's also buying into a plain old fiat bank, so if you're worried about real banks going tits up, you've bet on the wrong horse
But you go right ahead and invest.
*Danny's also buying into a plain old fiat bank, so if you're worried about real banks going tits up, you've bet on the wrong horse
"Yes, the Federal Government (via the FDIC) insures deposits in most institutions up to $250,000. But there is a problem with this insurance. The FDIC currently has far less money in its fund than it has insured deposits: as of Sept. 1, about $41 billion in reserve against $6 trillion in insured deposits."
http://www.zerohedge.com/news/2014-01-31/why-harvard-economist-pulling-all-his-money-bank-america
The company that insures my car would also fail if every car it insured killed a pedestrian and got sued.
It's frightening that i have to explain the basics of life to the budding financiers on this thread.
Anyhow, the tinfoil hatters here think that more fiat gets printed by teh bankers whenever shit hits the fan. So how is it possible for the bankers to not have enough fiat? They borked the presses?
Obviously the question is one of reserve ratios. The FDIC you put your unfounded faith in has reserves to cover 0.68% of deposits.
The issue with fiat is not that there isn't enough - it's that too much is printed and faith in it is lost as a crack up boom ensues and the mass of people suddenly realise their mass produced currency is headed into a downward spiral and dump it in favour of unprintable assets.
http://www.paulnathan.biz/commentaries/18-the-crack-up-boom.html