Are Your Savings Safe In The U.S., England Or The Euro Zone?

U.S. government debts are skyrocketing, Washington is gridlocked and the U.S. is borrowing money as quickly as possible to cover its debts. Fortunately for the U.S. it bought some time from the latest financial panic as some big investors put money into U.S. Treasury Bills thinking they're safe. Meanwhile, England is floundering in debt, the latest Greek bailout has stalled and behind them will come Ireland and Portugal for 2nd bailouts if Spain and Italy don't get there first to receive their 1st bailouts.

What nobody wants to say is the U.S., England and the Euro Zone are insolvent and the International Monetary Fund and the European Central Bank don't have the money to bail them out. So are your savings safe in the U.S., England or the Euro Zone? They are if they are guaranteed by the government of each nation where they are held. That may seem contradictory considering their insolvency but what nations typically do as they go broke is to print more money, which then drives down the value of their currencies. So what will happen is you will be reimbursed but in money losing its value. While that's unpleasant, it's better than losing your money completely.

Dick
To learn more, please see the following Wall Street Journal articles: "Talks on Greek Bailout Are Stalled," http://online.wsj.com/article/SB10001424053111904583204576545811058225074.html, "Berlusconi Under Fire for Dawdling on Austerity Plan," http://online.wsj.com/article/SB10001424053111904583204576546403497996510.html, "Spain Is Closer To Controls On Budget," http://online.wsj.com/article/SB10001424053111904583204576546101414263340.html or just Google this topic and you'll see how dismal the situation is.