Americans are hoarding money in checking accounts

originally posted by: seasonal

originally posted by: Liquesence

Americans are hoarding saving money in checking accounts

There, fixed it for ya.

Wow, so now "saving" money is being negatively connoted as "hoarding" money?

What world did I wake up in?

The world of consumerism. If you ain't spending it they (corps) are not getting it. Unfair if you ask them (corps).

Yup.

Reminds me of the commercials/advertisements/coupons: Spend $50 and get $10 off! You save $10!

Yeah, but if I spend nothing I keep (SAVE) all 50.

Could it be that the last recession, kind of made it where people are not out purchasing so much as to keep something in for a rainy day, and are now living within their means and paying their bills. Is that such a bad thing?

originally posted by: silo13
a reply to: seasonal

I'm wondering at some facts that are just not - factual.

More and more people are getting ready for the 'big one' in increasing numbers and I don't see those people keeping their money in the bank.

Personally none of my friends or family do. Just enough to cover the bills paid on-line and that's that.

Hmmm...

Could this story be propaganda?

If so to what end?

originally posted by: infolurker
a reply to: seasonal

Oh, nice bank bailout money!

You know depositors are "unsecured creditors" for the banks now.

allnewspipeline.com...

www.moneymetals.com...



www.collapsingintoconsciousness.com...

But they are spreading their money between multiple bank accounts so that each is covered for the full amount (less than $120,000) and not over $120,000. And they will be under different names and with different banks so that no one bank can try and merge accounts in order to get around this legal requirement.

originally posted by: seasonal

originally posted by: silo13
a reply to: seasonal

I'm wondering at some facts that are just not - factual.

More and more people are getting ready for the 'big one' in increasing numbers and I don't see those people keeping their money in the bank.

Personally none of my friends or family do. Just enough to cover the bills paid on-line and that's that.

Hmmm...

Could this story be propaganda?

If so to what end?

The fact that the headline says "hoard" speaks a lot.

If people save money and are prepared, they are affected less (assuming money retains a portion of its value). That it makes it seem like saving money is hoarding (and therefore "bad") speaks to what you said about consumerism, and wanting people to spend spend.

Yes, money needing to be injected into the economy via spending is good to a degree, but making it seem like saving is hoarding and is therefore bad is very deceitful.

a reply to: sdcigarpig

Nail hit firmly and squarely on the head.

But our corp controlled damaged capitalist system does not want savings. Spending, and above all BORROWING.

The system is set up for debt, and of course foreclosure.

We bailed the people out who bundled crap investments (home mortgages) then lied about the AAA rating. People will not forget what Bush started with the bail outs.

a reply to: seasonal

Not sure - I'm not a financier - but I would think it would give false security to those who are not keeping money in the bank to follow the lemmings that do?

Just a thought.

originally posted by: Zarniwoop
a reply to: seasonal

Not surprising.

Folks who watched what happened in the last market collapse are naturally a bit hesitant to go through that again.

Well thats really the last time cash was king, right after the thud. Good stuff selling for half price or less those were the days. I wouldn't recommend hiding cash in banks these days thought.

originally posted by: Liquesence

Americans are hoarding saving money in checking accounts

There, fixed it for ya. Wow, so now "saving" money is being negatively connoted as "hoarding" money?

What world did I wake up in?

I swear I read a reply that classified the $10Trillion-in-checking-accounts as Bogus Propaganda...And I Agree !

the financial system ha some $2 Trillion in 401Ks ( as cited by several well credentialed money guys that are NOT "in the Establishment System'...


and 5 X that $2T of life savings sum value is locked up in casual 'Checking Accounts'...... Bull Hockey I say


the banker scum or else the Rothschilds/Illuminati/Goldman Sacs... are trying to herd cats and get the gullible peasants to 'TRUST' in the integrity & ethics of Your local bank used for you checking & debit card handlers


the recent Federal Reserve Q&A with Yellen had not come out & announced anything of such magnitude... which would have made great interest I Fed Policy if the info was correct (@ $10T)

if the banks were sitting on $10Trillion in accessible checking account funds... the come Hell-or-high-Water... the banks would be lending all that multiplier-money out at 6-8% interest...instead the TBTF banks are strapped into living off the pittance they receive for "accumulating Excessive Federal Funds in their Holding Accounts'


this is a Hoax generated meme...
people, generally ain't sitting pretty as another poster cited... NO emergency cash or less than $500 per family is the new 'Norm'...

peeps are not flippin houses like in 2005-2008 at the time of the Krash

Never leave money in the bank.....NEVER

a reply to: St Udio

You are right, 10T is a whole lot O cash.

Seems like the theme maybe to get suckers to put $$$ that they don't have into the bank. For a hair cut or a "small" charge to keep your money safe and warm in their big huge safe.

originally posted by: MissCoyote
Never leave money in the bank.....NEVER

For Sure

I recollect I kept a $100. dollar account at the Riggs National Bank (Dupont Circle) just so I could cash paychecks back in the tail-end of the 1960s....
but some 30-40 years later, I contacted the bank (but without a account number)... they said no account name ever existed...

Just wait till I get my 1850s book from Riggs National that was a complementary gift to big accounts when the bank had a grand pile-of-cash @ $1 Million ... I kept all my stock certificates, car titles, bank account numbers stashed in the thousand pages of Shakespear's Works along with splendid etchings of each Story presentation (Its my version of a Family Bible that was Illuminated too, used as a hallowed place for all family treasures)

... the book is Un-appraised at present but I will unseal it in the near future in front of a gallery of high integrity persons here in myrtle beach SC

I don't really understand the money hoarding mentality.
I've been rich, I've been poor.
I'm always near broke. Spend that #.
You can't take it with you when you die.
Spending money is what makes an economy bloom.
Live within your means. Debt is a thing to avoid.

a reply to: seasonal

And yet, 67% of Americans still have $400 or less in their combined bank accounts.

originally posted by: sdcigarpig
Could it be that the last recession, kind of made it where people are not out purchasing so much as to keep something in for a rainy day, and are now living within their means and paying their bills. Is that such a bad thing?

The way credit card debt has gone up suggests that people aren't living within their means. People have more debt than ever before, and fewer assets.

a reply to: Aazadan

We are turning into a nation of renters. Just like the dark ages-serfs.

Nevermind.
It's complicated.

originally posted by: skunkape23
I don't really understand the money hoarding mentality.
I've been rich, I've been poor.
I'm always near broke. Spend that #.
You can't take it with you when you die.
Spending money is what makes an economy bloom.
Live within your means. Debt is a thing to avoid.

i'm with you on that thought-scape


I got no gold
I got 10 silver coins
I got 7 months of shelter costs (property taxes divided by 12... outside of banks)
1 got 5 months of advanced monthly expenses ($143.00 mo) in the bank

I just got a $173 refund check, I am earmarking $100. for Adult entertainment ... the rest for gardening & battery reconditioner


party-on

a reply to: St Udio

You sound like a person who is very organized and have been through some thin times.

I keep a minimum amount of cash in the bank. I do not like centralized banking or the fractional reserve lending system. That coupled with out dollar that is backed by only men in suits makes me understand how screwed we are.

a reply to: Aazadan

Ya just did some basic math, and if 100million people had 10trillion, that is $100,000 per. Something is not exactly adding up.

This must be a story to encourage people into giving their $$$ to banks.