Sunday 12 March 2023

SVB Chatter

 There was a short odd discussion over the SVB bank scandal going on today, and talking about diversifying your assets.

So, if you had around half-a-million in bills.....it would make perfect sense back in 2005....to go over to two, and possibly four different banks....to spread the money out and ensure you had great protection.

However, if you notice now....most all banks have charges going on for your regular accounts.  Even for myself....my credit union has around $40 a year for just a plain regular checking/savings account.  

If I ran a business?  Well....by the time you figure daily deposits, fees and cost.....I might be paying out $5,000 a year for a business account through two or three banks.  

Trying to use safe deposit boxes for your 'loot'?  Even there, they want to suggest insurance fees....possibly going up into the thousand-dollar range if you wanted to stash gold or silver there.  

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