wall street bailout is just the beginning of the worse
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my suggestion is keep your cash in a safe bank.
what bank, i leave it to you.
wallstreet bailout has change to US economy rescue plan. coz it can sell better to the mainstreet.
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Originally posted by reyes:
i can only suggest DBS bank.
defintely can gurantee all your saving than what it stated officially SGD 20,000.
Lealli ? Then why don't DBS officially state ALL deposit will be guaranteed.. instead of just SGD20k ?
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Originally posted by reyes:
put your money where temasek put theirs and you are alot safer!
this is like betting lky would live up to 100 years old
! why not buy gold? -
Lealli ? Then why don't DBS officially state ALL deposit will be guaranteed.. instead of just SGD20k ?
why it was not gurantee, you had to ask MAS. maybe we should.
Anyway, gurantee saving deposits is not banking industrial practice. But it has start to gain spotlight in recent mths with each country govt trying to increase the guarantee amount such as USA And england
Irish, german banks will give full gurantee amount to prevent massive withdrawal.some german banks has even stop accepting deposit from new customer.
If you dont like DBS, you can always withdraw your money put it in soda biscuit can.
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this is like betting lky would live up to 100 years old
! why not buy gold?gold is a consider a safe haven and hedge against a declining stock market, but, it is already trading near USD850-950 range. Can it go beyond USD1000? if it hit that range, there would be great nos of ppl from india, china, singapore or anywhere in the world ppl lining up to sell their gold for cash. thus putting a cap on how much it can trade up.
that is my own personal opinion.
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Originally posted by reyes:
my suggestion is keep your cash in a safe bank.
what bank, i leave it to you.
wallstreet bailout has change to US economy rescue plan. coz it can sell better to the mainstreet.
the safest bank, my dear fuller is our Deutsche Bank, or otherwise our Piggy bank.Me started to save now, drop a coin in my piggy bank.
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Originally posted by lotus999:
this is like betting lky would live up to 100 years old
! why not buy gold?
gold is also not constant hor. later gold because of goldrush goes down, you n me can go Swenson and eat Goldrush ice cream liao -
Originally posted by reyes:
why it was not gurantee, you had to ask MAS. maybe we should.
Anyway, gurantee saving deposits is not banking industrial practice. But it has start to gain spotlight in recent mths with each country govt trying to increase the guarantee amount such as USA And england
Irish, german banks will give full gurantee amount to prevent massive withdrawal.some german banks has even stop accepting deposit from new customer.
If you dont like DBS, you can always withdraw your money put it in soda biscuit can.
Our Fuhrer banks only take in gold, and you hv to be a member of the Nutzi before being eligible.The true is, no banks can guarantee you the safest of your money, please read those small tiny words printed on the terms and conditions. In the events of unforeseen circumstances such as war, natural dieseaster, riot etc etc..the Bank shall hold no responsibility in the lost of.....
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SGD 20000 is so pathetic. why wouldn't they think of increasing it ?
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i think there was an article by the MAS saying there is no need to increase the $20k guarantee on the accounts. Saying that the $20k covers more than 80% of accounts already.. honestly i think this is crap.
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Originally posted by maxtor:
i think there was an article by the MAS saying there is no need to increase the $20k guarantee on the accounts. Saying that the $20k covers more than 80% of accounts already.. honestly i think this is crap.
That just means 80% of account holders don't have more than 20K in their bank account lor... very sad.
Are we really that poor ?
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we are rich in paper asset, poor in cash.
are we really prepare for the coming recession?
be careful
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the safest bank, my dear fuller is our Deutsche Bank, or otherwise our Piggy bank.
Me started to save now, drop a coin in my piggy bank.
if no money just deposit into my Hitler investment account.
will invest in more panzerfaust, tiger tanks,stukas and 88s.
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I heard Iran bank is offering 16% interest...
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Originally posted by reyes:
we are rich in paper asset, poor in cash.
are we really prepare for the coming recession?
be careful
Donch worry... we have billions in reserves.. if economy crunch.. our gahmen can also do the "bailout".... I hope...... -
haha yeah, bail themselves out first, leave you to dry.
singapore only use surpluses and not reserve to help singaporeans.
if no surpluses that means you are on your own.
anyway, i never know they help. whateve they give you from the left pocket, they take it from you automatically and put in right pocket.
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Originally posted by jojobeach:
Donch worry... we have billions in reserves.. if economy crunch.. our gahmen can also do the "bailout".... I hope.........right, use the money they take from the people to bail out the rich.... hahaha.... what's new? Raise electricity prices to bail out the rich, raise telephone prices to bail out the rich...
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Originally posted by reyes:
we are rich in paper asset, poor in cash.
are we really prepare for the coming recession?
be careful
US bonds, Stocks and Shares, these are all papers..even your currency, US$ or S$ is also paper only...start collecting coins... -
Originally posted by jojobeach:
That just means 80% of account holders don't have more than 20K in their bank account lor... very sad.
Are we really that poor ?
no no no, we are not poor, like me, i keep it in my piggy bank and also at my garden under the long banana tree.As for most sg uncles, they also got PRC gal banks to deposit.
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Originally posted by sgdiehard:
US bonds, Stocks and Shares, these are all papers..even your currency, US$ or S$ is also paper only...start collecting coins...US bonds is now a big bomb
Jap bonds is bondage
British bond is James Bond
Singapore Bonds is family Bonding
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Originally posted by reyes:
anyway, i never know they help. whateve they give you from the left pocket, they take it from you automatically and put in right pocket.
No wonder i see many Uncles like to put their hands inside their pockets. -
Originally posted by reyes:show
US bonds, Stocks and Shares, these are all papers..even your currency, US$ or S$ is also paper only...start collecting coins...aiya, you are too pessimistic.
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US bonds is now a big bomb
Jap bonds is bondage
British bond is James Bond
Singapore Bonds is family Bonding
cute, -- i mean the writing.
how much time you spent thinking?
The joochiat night is still young as Viet meimei.
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No wonder i see many Uncles like to put their hands inside their pockets.
they are scratching not taking money out to put in govt pockets. coz they have none to give.
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STI has drop below 2100 mark.
well obviously the begging of the worse is nightmare. i think STI could be heading to 50% retraction from the peak of 3600. that is 1800.
why?
1. singapore 3Q data is going to shown negative growth.
2. there isnt any good news coming from wallstreet(BOA miss forecast), mainstreet( consumer spending, housing data down, jobles rate up).
3. crude oil going up soon as OPEC cut production= inflation pressure not down but most central bank cutting rates. that means world economy has to tackle world recession cum inflationary problems
damn DOOM picture.