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Do I love banks? - Printable Version

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Do I love banks? - Hugues - 2020-02-28

Do you believe I do?
Watch this and you will know the answer.




RE: Do I love banks? - Carsten - 2020-02-29

Sadly the interview is 30 min and the two persons are not very interesting to listen to for me at least so I lasted only 6 min and then scrolled through the video. It was no news to me what I heard. In Denmark you have a government guaranty that if a bank go bankrupt then whatever deposit you have up to 750.000 kr (~ 100.000 Euro) is payed back to you. Whatever you have above is lost.

There is a new situation here since it's now COST money to put your money in the bank. More banks have NEGATIVE interest of a deposit above 100.000 Euro and a single one recently put negative interest on deposit above only 33.000 Euro.

The interest is basically zero for amounts below 33.000 Euro so the inflation alone will reduce what you can buy for your money.


RE: Do I love banks? - BobBobert - 2020-03-02

In the Uk too there is a govt guarantee if the bank goes bust but it covers the banks in a group so if you have 100k in Cartsen Bank 1 and also 100k is Carsten Bank 2, and they are both part of the Carsten conglomerate, then you are only covered for 100k, but if you have another 100k is Bob Bank, then it is covered too. I would in general assume that my bank is safer than Carstens Smile

If I had 100k then I would not leave it in the bank for close to zero interest. Far better to chuck some at gold/silver, crypto, property and shares.


RE: Do I love banks? - Carsten - 2020-03-02

It's the same here Bob. The money is guaranteed pr. bank.