“What a great idea, honey! Let’s tie up our money for six years and get a whopping 2.5%. And it’s safe too.”
No, it’s actually a very stupid idea…and it’s not safe either.
After eight years of near zero interest rates, the banksters (with ads like the subject line) are trying to convince you that 2.5% is a good return for your money.
Nothing could be further from the truth.
Case in point: You can easily get 2%, or more, from numerous ETF’s (And I hate ETF’s) and not have to tie your money up.
The major difference is the perceived belief that CD’s are safe and ETF’s are risky.
Again, nothing could be further from the truth.
“But! But…What about FDIC insurance?”
Forgive me. I just spit my coffee all over my laptop screen.
Anyone who still believes the FDIC is solvent is terminally infected by the rampant bulls**titus the govt. dishes out to the sheeple.
It’s a tactic the Feds use similar to: “Look!…a squirrel!”
If you’re paying attention, all you have to do is look at their numbers.
As of 12/31/16 the FDIC has about $83 Billion (with only 1.3 Billion in cash) to cover over $7 Trillion in consumer deposits.
In plain English that means they only have 1.8% coverage for all insured bank deposits.
So, do you still think your FDIC maximum coverage of up to $250,000 is relevant?
If you do, then all I can say to you is: “Look! A squirrel!”
These numbers do not include the massive derivative problems hanging over the banks like a “Sword of Damocles.”
Learn more about the Quadrillion Derivative Time-Bomb in our January newsletter (HERE).
You’ll thank us later.
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