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A comment on Why Banks Are Suddenly Closing Down Customer Accounts. Parent comment

Re:Why Banks Are Suddenly Closing Down Customer Accounts by phil21 on Monday November 06, 2023 @07:10AM (#38161497)
I am a firm believer of having 10% of ones liquid net worth in cash or equivalent not gatekept by anyone but myself.

This is from extremely hard won personal experience.

Yes, it's a lot of cash. I don't mean keep it all under your mattress.

[ Parent | on HN ]
Re:Why Banks Are Suddenly Closing Down Customer Accounts by gentleman11 on Monday November 06, 2023 @09:20AM (#38162906)
One day, pirates learned they could get better interest on their treasure by putting it into banks than they could by burying it. But many had forgotten where they buried it and were not able to take part in this new world
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Re:Why Banks Are Suddenly Closing Down Customer Accounts by phil21 on Monday November 06, 2023 @10:36AM (#38163972)
I suppose the smart pirate would diversify their portfolio. Keeping it all the bank doesn't sound super smart for a pirate who might be unmasked and assets seized.

Certainly no form of wealth storage is without risks!

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