Money Beat

Do you know what this means? We all know that the stock market has tanked. This article is hinting that even bank accounts are not safe investments anymore. Why would that be? Think about it. They are hinting that there are more bank failures to come and this time not all of your money in there is safe. FDIC can't cover it all.

Darin you are wrong. FDIC covers up to 100K I believe it is now 250K. You are safe in leaving your money in the banks. There is no hinting that you should park it with a 0% or .05% interest rate with the government. The institutions/individuals that are buying the t bills are just mixing up their portfolios so they include t bills that are known to be a safe investment with other riskier investments.

Yeah they can. They will print more and keep printing. Eventually the Gov. will own the majority of the banks and will continue run with huge deficits.

Scary. I don't know a lot about economics but I do know that I have money in the bank that I NEED (I know...like we all don't). Makes me want to take out my cash and hide it under my mattress.

Are you finally ready for real change, instead of smoke and mirrors promises that can't be kept because money, politics, and religion always come first? Tired of watching the multitudes struggle and suffer, while awaiting deceptive solutions from an illusory political shell game?

Wisdom dictates that we let results speak for themselves, hence the instruction to "know them by their fruits" (the end-results of deeds). Now look at this sad, sordid, and chaotic excuse for a civilization, created by money, religion, and politics, and tell me again that these three "strong delusions" are good for anyone, except those in power. Look around at monetary, political, and religious leaders to see how many are little more than snakes in fancy clothing, constantly writhing to avoid truth and justice. Consequently, humanity has long suffered from the horrendous side effects of a long-term lack of wisdom, imposed by millennia of greedy and deceptive leaders and their flimflam deceptions.

Here is Wisdom...

When the Atman meets the Brahman you will find peace.

This is the most ridiculous thing I've ever heard. Why not use CDs or savings accounts? Even 2% is better than ZERO!

Very interesting story, however it is difficult to respect this kind of financial news reporting when the journalist can't even seem to spell the word "Principal" correctly. Twice. Come on ABC News, let's increase the quality just a bit by at least asking your journalists to use a grammar checker if they aren't astute enough to know when to use the word "principle" versus "principal".

Their Old High School Principle (sic) Would Be Embarrassed!

It's not so much this one (repeated) error in this article that is disconcerting, but rather the fact that over the years I have frequently seen news articles on ABCnews.com riddled with grammar and spelling errors. The bottom line, is if your journalists are posting their articles without so much as bothering to check spelling or grammar, how are readers supposed to rely on them having done any other kind of basic fact checking???

Thomas - I couldn't agree more. I double check emails I send to people at work, let alone stories that will be run by millions over the Internet. Very weak ABC !

Spell check will not step in with the word principle and principal. Both are proper english words. RTFD

Our income has gone down,to the bottom, since the gasoline started up, our credit is shot, Can we have a package to restore our credit? We are twoo retirees living on our govt. pensions, we LOST BIG when Enron went down, and no one has offered to restructure our finances? How does the regular small people get their credit restored? Why cant the goverment help all of the many persons like us? JoEllen

Our income has gone down,to the bottom, since the gasoline started up, our credit is shot, Can we have a package to restore our credit? We are twoo retirees living on our govt. pensions, we LOST BIG when Enron went down, and no one has offered to restructure our finances? How does the regular small people get their credit restored? Why cant the goverment help all of the many persons like us? JoEllen

PUT YOUR MONEY UNDER YOUR MATTRESS ITS BETTER THERE...FYI

B.S.!!! The banks are not safe. A few big banks tank and the FDIC does an Argentina. They said, Oh yes, your money is safe, we're insured. Then they said, oh my, sorry, we ran out of money. Google, The argentina crash of 2001. Lots of the same banks are talked about....they did a lot of the same things. Still tanked.

I say the government gave the banks their bailout money and the banks are putting it in T-bills.

I talked to Wachovia the other day...asked what's up with the Wells Fargo thing. Was told, that won't be finished for 2-3 years. Bet you didn't hear that on the news.

Believe nothing you hear on the major news outlets. Everything is manipulated. There will come a time when too many things happen at once to control the market. Then pray.

Those buying t-bills would have far more than what would be covered by the FDIC, correct? These are the major investors and institutions.

This surely is a sign to Wall Street that the bears are not done. Once you see money moving out of t-bills and into the market, that will be the sign that the market is recovering, correct?

There's a real change of inflation, so putting your money under a mattress isn't the best idea. It would be a better idea to buy commodities, invest in silver or gold coins, or even just stock up your pantry. If inflation really kicks in, money will loose value where ever it is, even if it's under your bed.

Buy long term storage food! It's the commodity that keeps you free!

There is someone...let's call it something very evil, trying to buy our country for pennies on the dollar. They want you as their slave. They don't need your money, they want it. They want power and control.

Fractional reserve banking, banks lend 100k of others money, keep 10% in reserve. You lose your property to a foreclose. They go right to the courthouse and buy it for 10k...bought your property for 1/5 of what you paid. Quite a deal huh? Destroy the privately owned Federal reserve!!! It's the system that's killing our country. It's not moral! It's a legal mob! Sitting on your sofa with a whopper and coke will do nothing. Fight! Call you Senator! Tell him you're pissed! It takes 3 minutes to email him. If you don't, then don't whine when you lose everything.

Believe nothing you hear on the news. What does your gut say...listen to it!

There are a lot of people running our country like the Governor of Illinois. You are a gnat to them...they will sqwish you and joke about it at the congressional luncheon!

What would Peter Schiff do? Have you guys seen that clip on the internet of Peter Schiff's predictions? I think whatever Peter is doing might be a good idea. What about Jim Rogers?

What would Peter Schiff do? Have you guys seen that clip on the internet of Peter Schiff's predictions? I think whatever Peter is doing might be a good idea. What about Jim Rogers?

Hey! NOW we can at least fillup our tanks
& get on with business.;-)In my town.Its $1.57.,& go look for a job.

Andrea: Hide your money. what will you do if you go to the bank and there's a sign on the door, closed, bank holiday. You'll do the same thing everyone else will do. Panic. If you have your money you will buy yourself some time to think. Pay with money orders for a few years.

Whitelightning: Ask yourself, why is there so much gas now? I thought there was a shortage 3 months ago. Did we stop driving so much we dropped the price by 200%? Ask your gut! Is someone playing games with the gas prices? There's a glut of gas in the world. They just opened new fields in Indonesia and Rissia. They are like two Saudi Arabia's. Why did they keep them until now? If they can drop it in 3 months, do you think they can raise it back up in 3?

Money does not just dissapear.There are groups of people who have huge amounts of currency that there sitting on and that is the problem.All of that currency taken out of circulation has destroyed the worlds economy.Does any one remember the attack on a specific piece of property that represented the economic world trade.We have been under attack by are own.We as a society are to blame.We see the enemy walk around on the TV screen with absolutley no worries and were are to blame.Just because every thing is allright in your world does not mean every things allright.Question;Does one have to be attracted to his own to be part of the gay community.They are bad asses.They are not putting up with the prop 8 andthey unite and stand tall.I am a 7th generation American but I do not want to change my sexual preferance to remain a American bad ass.

kennedy,
Yeah, the gas thing (along with the oil cartel) is fully rigged...all to the advantage of the dirty, rotten, filthy rich. I remember back in the 70's when (supposedly) the cause of gas rationing and prices, then, headed skyward was due to fossil fuels running out. Yeah, right. But what followed the "fossil fuel shortage"? Hmmm...umm--yes, that was the SUV craze...and that lasted how long? Oh, some 30+ years. The rich (corporate "big" wigs, stock broker filthmongers, et al) have their respective boot(s) to our collective necks--just as they love it. It can only get worse...unless we the people wise up and stop their madness.

Kennedy,
Gas prices are inversely proportional to the value of the dollar. High dollar, low oil prices. Low dollar, high oil prices.

The value of the dollar should be low right now because of our debt, but it's not because of the world crisis.

The problem for the government is that they need the dollar to be low to make the debt smaller. However, no-one was minding the store and derivatives and banks were deregulated and are now blowing up.

Paulson has given money to his buddies and they have made sure to get their millions in bonuses before they will close shop. The super-wealthy can live anywhere in the world, remember.

"My God, such as the economic crisis, looooook, handbags are not worth www.handbagsjobber.com" Excuse me, you, I see only good news would like to share.Merry Christmas everybody