I know that many business (more than should) rely on credit. I got the whole story this morning from a friend that owns an insurance agency who I called to check on my Annuity.
He explained it to me and I know that it’s bad. My point to him was the fact that being a business owner myself there is NO way that I would put ALL my money, that I’ve saved, in risky intruments that I have no control over and rely on credit to run my business.
Sure I’m not getting the best rate or return, but it’s safe.
I just can’t wrap my head around that, but then I don’t claim to know everything.
Raising the FDIC is just going to raise the amount the banks have to pay into it lol, far from a the saving grace of the bill.
I’ve heard both sides make this suggestion.
To me it’s like gambling. Don’t invest more than you can lose. Put your money in gold or silver. Something you can see.