More Americans opting out of banking system

Discussion in 'Politics' started by Dissent, Sep 13, 2012.

  1. Dissent
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  2. Katzndogz
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    Katzndogz Diamond Member

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    With a banking system in which your bank could be taken over by the government at any moment, who in the world would trust this system.
     
  3. Truthmatters
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    credit unions are a great way to go
     
  4. Truthmatters
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    You dont understand much about what it means to be federally insured bank do you?
     
  5. Truthmatters
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    Credit union - Wikipedia, the free encyclopedia

    A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members.[1][2][3]

    Many credit unions also provide services intended to support community development[4] or sustainable international development on a local level,[5] and could be considered community development financial institutions.

    Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size,[6] ranging from volunteer operations with a handful of members to institutions with several billion dollars in assets and hundreds of thousands of members.[7]
     
  6. Truthmatters
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    Imagine what would happen to the banks if most people joined a credit union instead of a bank?
     
  7. uscitizen
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    uscitizen Senior Member

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    I have my cash split between several banks so it is all insured.
     
  8. OohPooPahDoo
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    They aren't "opting out" of the banking system so much as they don't have anythinng to put in a bank.
     
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  9. OohPooPahDoo
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    Yeah, because if my bank fails, I want to lose all my money.
     
  10. OohPooPahDoo
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    OohPooPahDoo Gold Member

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    Not if the U.S. defaults on its debt it isn't.
     

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