Originally Posted By: Pete
So back to financial assets ... ... don't put all your eggs into one basket. And assume that nothing is SAFE. There is no perfect "SAFETY DEPOSIT BOX" in the world.


This is very good advice.

My estimate (based on once having met someone who claimed to be an economist) is that if the US financial system goes down, for whatever reason, banks everywhere would suffer severe effects. I don't worry about it very much other than having cash on hand for short-term use.