Pick The Right Tool For The Right Job

Inspired by a post from Jesse's Cafe Ameriain, "pick the right tool for the right job, and remember nothing comes for free." 

I thought this would be a perfect slogan for our U-Vault Account because if you're looking for wealth protection and savings then why leave it with an institution that does not use the right tools for the right job? Savings in a bank account are only as solvent as the insurance company (FDIC or CDIC) backing those savings. Did anyone ever ask WHY there is even limits to these deposit accounts? After all it's cash in the bank, right? NO, it's not; it becomes bank credit the minute you deposit your money. So why can't these deposit insurance companies insure 100% of your money? Because your money is NOT there anymore! The bank took it and loaned it out at multiples of what you deposited. This is called "Fractional Reserve Banking," a great tool for the banks but not for you. 

So if you're looking to protect 100% your savings, whether it's $100K, $500K or Millions, than the U-Vault Account is the right tool for the right job, because there are NO LIMITS to the insurance on the funds in the vault, unlike FDIC and CDIC. How you might ask? NO fractional reserve banking, just your wealth collecting dust in a fully insured vault that you can access anytime. Yes, it sounds boring because it is, but it's also the safest place for your money!  BK

No Inflation Problem Here Folks, Just Move Along

Ontario's Teacher Pension Loses Inflation Protection

CIBC CEO Calls For Voluntary Contributions to CPP
In an unusual step, a bank CEO is admitting that private savings vehicles, such as RRSPs, aren't going to be enough to ensure adequate retirement savings for millions of Canadians.

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Thirty years ago $1.00 bought 4L of gasoline, now when you receive that same $1.00 back from your pension you can't even buy 1L of gasoline. Thirty years ago 4 silver quarters (or $1.00) bought 4L of gasoline, today 4 silver quarters buys 16L of gasoline! Makes you wonder what pensions are good for?   BK

The essence of intrinsic value:

When you remove Washington you have
 a piece of paper worth nothing.

When you remove Kennedy you
have silver worth $10 today.

The Bank Trap on Your Standard of Living

By William J. Quirk

Four years after the 2008 financial crisis, banks are behaving more recklessly than ever.

In 1989, the CEOs of our seven largest banks earned an average of $2.6 million. In 2007, the average CEO income had risen to $26 million. The ordinary citizen might believe that this is grotesque overcompensation, but the financial sector found the pay perfectly reasonable. A year later, this sort of thinking led us to the brink of complete financial collapse. The financial crisis of 2008 now looks more and more like a defining moment, a crisis of capitalism. Globally, it has produced, in addition to a crippling recession, an unending debt crisis. Our own escalating, unpayable debt makes the future of U.S. power increasingly uncertain. Government borrowing and spending policies have failed to stimulate growth in the economy.   LINK...

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Confidence is lost, the system is broken and your standard of living, your freedoms and liberties will be sacrificed for "their" gains. It's time to take serious action when considering your savings and wealth.  BK