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FDIC only $100,000?

Topic closed. 44 replies. Last post 8 years ago by psykomo.

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United States
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June 22, 2005
5582 Posts
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Posted: September 18, 2008, 6:49 pm - IP Logged

THANK'sssssssss for UR support bigato1010:

Most people on the LP donot know that (or realize) that PSYKOMO has a

"Little" BRO named psyjomo>> and he live's in a pur country somewhere

in centrail america..........BUT>> and we all know ther is alway's a BUTT

out dare somewhere???BUT>> we send HIM & the cuzion's MONEY$$$$

as much as we can AFFORD in these TRY'in TIME'$$$$$$$$$$$$$$$$$$

LOL>>>>>>>>>JACKPOT 2-U>>>>MYFRIEND$$$$$$$$$$$$$$$$

PSYKOMO

As long as your brother dosen't live on a dollar a month.

    Avatar

    United States
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    March 25, 2008
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    Posted: September 18, 2008, 7:22 pm - IP Logged

    For me, I WOULD have several $100,000 accounts. Probably around 10-15 split between checking and savings/money market. I'm VERY big on gold investments. I know alot about that market and have made VERY generous profits from it before. I would amass a good amount of gold. I would invest in a near indestructible safe in a secure location.

     

    I also believe cash is king. Believe it or not I use to keep 30k cash on hand at all times when I actually had money

      time*treat's avatar - radar

      United States
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      Posted: September 18, 2008, 7:43 pm - IP Logged

      According to a Sept 14, 2008 article in the Financial Times "Wall Street Crisis hits stocks", one of the emergency measures implemented by the Fed was the suspension of the rules prohibiting banks from using deposits to fund their investment banking subsidiaries.

      In neo-conned Amerika, bank robs you.
      Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

        tntea's avatar - Lottery-059.jpg

        United States
        Member #5344
        June 30, 2004
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        Posted: September 18, 2008, 9:43 pm - IP Logged

        Thinking of...

        WHY worry>>>>>>>>Nancy Peso and her RICH hubby from kaliephonu

        will BAIL-U OUT>>>>>Maby she will send U a case of wine if U-WILL V

        for O'BAMA & BARBARA TRYZAND $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

        JUST MAKE a huge contro to the DEM'$$$$$$$$$$$$$$$$$$$$$$

        "GREAT SOCIETY">>>they will set YOU FREE!!!!!!!

        if U-WANT CHANGE>send MONEY>lot's of $$$$

        to O'BAMA>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

        THEN U may or may not get UR call & THANK-YOY from KALIEPHONU!!!

        NOTE:

        PLEASE tell O'BAMA to HELP his PUR 1/2 brother who lives on $13/week!

        TRANSLATION:

        ENJOY UR $100,000>>HELP the ONE's U-LUV>>>>>>>>>>NOW!!!!!!!!

        DON't PROMISE "BULL$HIT"!!!!!!!!!!!!!!!!!

        we are MAD as HELL and WON't TAKE-IT ANYMORE!!

        LOL>>>>>>>JACKPOT>>>>>>>>>(to giverer's) NOT-NOT TAKER'SSS!!

        PSYKOMO

        wow. .Not deleted....  wow is all I can say...  You got the touch... I guess

             OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

          jarasan's avatar - new patrick.gif
          Harbinger
          D.C./MD.
          United States
          Member #44103
          July 30, 2006
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          Posted: September 18, 2008, 9:54 pm - IP Logged

          Thinking of...

          WHY worry>>>>>>>>Nancy Peso and her RICH hubby from kaliephonu

          will BAIL-U OUT>>>>>Maby she will send U a case of wine if U-WILL V

          for O'BAMA & BARBARA TRYZAND $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

          JUST MAKE a huge contro to the DEM'$$$$$$$$$$$$$$$$$$$$$$

          "GREAT SOCIETY">>>they will set YOU FREE!!!!!!!

          if U-WANT CHANGE>send MONEY>lot's of $$$$

          to O'BAMA>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

          THEN U may or may not get UR call & THANK-YOY from KALIEPHONU!!!

          NOTE:

          PLEASE tell O'BAMA to HELP his PUR 1/2 brother who lives on $13/week!

          TRANSLATION:

          ENJOY UR $100,000>>HELP the ONE's U-LUV>>>>>>>>>>NOW!!!!!!!!

          DON't PROMISE "BULL$HIT"!!!!!!!!!!!!!!!!!

          we are MAD as HELL and WON't TAKE-IT ANYMORE!!

          LOL>>>>>>>JACKPOT>>>>>>>>>(to giverer's) NOT-NOT TAKER'SSS!!

          PSYKOMO

          Yes, that is what Jesus would do.  He would also help his sisters and his mom.

            jarasan's avatar - new patrick.gif
            Harbinger
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            Posted: September 18, 2008, 10:14 pm - IP Logged

            wow. .Not deleted....  wow is all I can say...  You got the touch... I guess

            Mr. Psykomo has the touch, a very special touch.

             

            http://www.youtube.com/watch?v=DcNUx0-XEfw&feature=related

              tntea's avatar - Lottery-059.jpg

              United States
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              June 30, 2004
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              Posted: September 19, 2008, 4:25 pm - IP Logged

              Mr. Psykomo has the touch, a very special touch.

               

              http://www.youtube.com/watch?v=DcNUx0-XEfw&feature=related

              Maybe he knows something others should.  Maybe $$$ ...lol  ...  I have learned... $$$$ will not leave me... NO WAY  NO HOW...  Others beware.. lol   You can't Touch this....

               

               

              NOT MY MONEY

                   OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

                sirbrad's avatar - Lottery-062.jpg
                PA
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                October 6, 2005
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                Posted: September 20, 2008, 4:17 am - IP Logged

                Nobody who has millions and a lick of sense isn't interested in investing. They may not devote their life to it, but they make some sort of effort. Whether you invest or not, the only way to  protect a large investment is to be conservative and to spread it around into a lot of small amounts.

                That leaves you two basic choices. One is to  buy a big house, put in a good security system, and keep the money in your basement. The other is to devote a bit of effort to managing it as if it actually mattered.

                Aside from having to invest in order to qualify, SIPC insurance is far different than FDIC insurance. SIPC will cover you if your broker sells your investment (not all investments qualify) and is then unable to pay you for some reason. The investment itself is not insured. There's no reward without some risk.

                I would invest, however I am trying to find out the options and security for not investing as well. Why is it that one must automatically invest millions in order to have some sense of security? Sounds like some type of conspiracy to me. I know that Millionaires/billionaires do not invest all of their money entirely, as that would be a huge risk also. So it is also a risk not to have it doing nothing, and just sitting in a savings account?

                So basically you are saying that if you have millions of dollars it is not safe anywhere! Even in your home, as it could burn down or be stolen etc. I just find it odd they do not have accounts that can assure you up to say at least $100 million so it wouldn't mater too much if you lost it. But $100,000 for $100 million lost? Please, they have got to be kidding! Not very much incentive to put my money into a bank is it?

                Not to mention more time consuming/more expensive/more paperwork to maintain multiple accounts and investments, just what the banks and advisors want...

                  grengrad's avatar - nw rogue.jpg
                  Raleigh
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                  January 17, 2007
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                  Posted: September 20, 2008, 7:19 am - IP Logged

                  I would invest, however I am trying to find out the options and security for not investing as well. Why is it that one must automatically invest millions in order to have some sense of security? Sounds like some type of conspiracy to me. I know that Millionaires/billionaires do not invest all of their money entirely, as that would be a huge risk also. So it is also a risk not to have it doing nothing, and just sitting in a savings account?

                  So basically you are saying that if you have millions of dollars it is not safe anywhere! Even in your home, as it could burn down or be stolen etc. I just find it odd they do not have accounts that can assure you up to say at least $100 million so it wouldn't mater too much if you lost it. But $100,000 for $100 million lost? Please, they have got to be kidding! Not very much incentive to put my money into a bank is it?

                  Not to mention more time consuming/more expensive/more paperwork to maintain multiple accounts and investments, just what the banks and advisors want...

                  The more money you have the more time it takes to manage it.

                  The GOVERNMENT insures people's deposits up to $100,000 to prevent your average person from losing everything if their bank goes under. This also creates CONFIDENCE in the banking system, so that people will not do a run on the banks of times are tough, making them worse, and crashing the financial system.

                  There is no reasonable reason for them to insure $100,000,000.

                  1. You would be perfectly fine even if you lost 90% of your money.

                  2. Wealthy people usually know to split their money up, so they will be protected by the fact that if one bank fails, they will only lose a small portion of their money.

                  3. Wealthy people usually have a better understanding of the economy and are less likely to see a story on the news about AIG or LEH and irrationally go down to the banks and start pulling all their money out.

                  4. Banks are a poor investment vehicle. Most people with money put some of it in the bank for the banks security (they rarely fail and are insured).

                  5. When banks fail they rarely went from having 100% of their deposits covered to having 0% covered in modern times with strict regulation. If you had $2,000,000 in a bank account and it got shut down, your bank would most probably be taken over by another bank, who would assume any uncovered bank accounts with the assistance of the FDIC if necessary, and you will probably automatically keep all your money. It would be very rare for you to lose much.

                   

                  I do not know a single person who has more than $100,000 in assets outside of the value of their home, car, and business that does not invest.

                  My grandfather for example, who recently passed. He had lived through the great depression, and was very careful. He had it split into bank accounts of $75,000 each, but he also bought mutual funds, and left money in them for decades. It is pretty amazing seeing the starting and ending balances on investment vehicles that were purchased 20-30 years ago and just left to accrue value. 

                   

                  Investing is a very normal thing to do, and not a bad idea as long as risk is managed.

                  Every 10-20 years there will be a major financial crisis. Those who diversify their assets will only suffer a little bit. Those who put it all in one place may come through fine or may really take a hard hit.

                  If you want to invest and not worry about it, hire a financial consultant. Talk to him about your goals, and make sure he is someone who can get them done for you. If you talk to him and it sounds like he wants to be a lot more aggresive with your money then you want, find a different financial advisor. Once you find a consultant that matches your needs, make sure he understand that you want to be a good steward to the money, so that it will last for generations. You want to diversify your interests as much as possible, and invest in low risk reasonable yield investments for maximum safety. He should be able to help pick your investments for you, and give you a profile where the risk is distributed in such a way where you have a decent yield, but is very safe.

                  Also, remember that with that much money, you can always take $1,000,000 put it in Euros, fly to Switzerland, and put it in a safe deposit box deep in the Alps, incase your luck really goes south.

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                    Kennesaw, GA
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                    Posted: September 20, 2008, 8:04 am - IP Logged

                    With all this speculation, it would be real nice for someone who has money or delt with this before to give a reliable answerWink

                      GamerMom's avatar - tails

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                      Posted: September 20, 2008, 9:14 am - IP Logged

                      actually I wonder if real estate isn't the way to go at the moment.  Buy lots of houses that are in the $100,000 range and rent them out because the way things are going there are more foreclosures which means more renters. Then when the market picks itself up again if you are tired of the real estate business you can sell all of your houses.  No banks to worry about and unless someone burns your property to the ground (and you don't have insurance) you don't really lose any $$$.

                        time*treat's avatar - radar

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                        Posted: September 20, 2008, 10:46 am - IP Logged

                        actually I wonder if real estate isn't the way to go at the moment.  Buy lots of houses that are in the $100,000 range and rent them out because the way things are going there are more foreclosures which means more renters. Then when the market picks itself up again if you are tired of the real estate business you can sell all of your houses.  No banks to worry about and unless someone burns your property to the ground (and you don't have insurance) you don't really lose any $$$.

                        If they didn't pay their mortgage, why do you think they'd pay their rent? ROFL

                        In neo-conned Amerika, bank robs you.
                        Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                          GamerMom's avatar - tails

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                          Posted: September 20, 2008, 11:09 am - IP Logged

                          well i don't see tons of homeless people out on the street so they have to go somewhere, i might as well collect what I can!  I'm no donald trump, i don't want to turn a huge profit, rather maintain what I have and risk it in real estate rather than the banks.

                            DC81's avatar - batman39
                            MI
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                            Posted: September 20, 2008, 2:58 pm - IP Logged

                            I think investing in building reasonable priced, nice apartment complexes would be better than buying single family houses.

                            You can't predict random.

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                              Posted: September 20, 2008, 4:48 pm - IP Logged

                              Where to park 50 million, gee what a nice problem to have.....  If I were to worry about protecting my wealth I would simply open a personal account for 100k each for my wife and myself, one joint account for us both for 200k, and a "payable apon death" account for each of us for another 100k each. That covers you for 600k insured dollars in one bank. Do that with half the money at 40 some odd banks, take the other 25% and invest it in goverment bonds, gold, ect..... and take the last 25% in cash and build yourself an underground bunker with a big ass safe......