“Not many people give much thought to the financial standing of the banks to which they entrust money. That’s a mistake. When you deposit money in a bank, you become an unsecured creditor holding an IOU. That IOU is only as good as the financial standing of the bank. In return for assuming this risk, what do you get? The highest interest account I have in the US pays me a whopping 0.46% annually. That reassuring FDIC logo on your bank’s front door masks the fact that the FDIC Insurance Fund has a reserve ratio of 0.79%. For every $100 on deposit, the FDIC has only 79 cents to back it with. The new global model is the ‘bail-in,’ first seen during the Cyprus banking crisis that began in 2013.”
http://www.nestmann.com/are-you-making-this-financial-mistake
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