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You Have No Deposits at the Bank but Only an IOU in Your Hands

Tags: bank deposit

A nice reminder that once you Deposit mony at the Bank it is not yours anymore. Simply said your deposit is a – currently no interest paying – loan to the bank with little paperwork. Better get it before the bank runs begin.


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This post first appeared on The Prudent Investor, please read the originial post: here

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You Have No Deposits at the Bank but Only an IOU in Your Hands

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