Should We Give the Banks Our Money?

If you have a certain type of savings account where the money has to be left in the account for a specified amount of time – usually for one to five years-then you can be sure that the bank will use that when they are setting up deals and investments. You may not be too worried about this, but if they do use your money in this way, then effectively you are giving them permission to do so. An increasing number of people are now taking their money out of the bank as they feel quite strongly that the bank should not have use of their money.

One of the main reasons that the world is in such a bad financial state is because there has been little or no regulation on what the banks could do with the money that was in their care When this happened once before in the late nineteen twenties, many people lost everything that they had. If you really want to make sure that your money is safe then you might do better to lock it in a strong box and have it put away. You won’t be making any interest but at least the banks won’t be frittering it away.