Families around the world are pulling cash out of banks and hiding it in their homes

Families around the world are pulling cash out of banks and hiding it in their homes

NaturalNews) The financial crash and Great Recession of 2008-09, which was felt far beyond U.S. borders, so spooked families around the globe that increasingly many have begun hoarding cash in their homes rather than trust it to banks.
According to a recent report by The Associated Press, “Five years after U.S. investment bank Lehman Brothers collapsed, triggering a global financial crisis and shattering confidence worldwide, families in major countries around the world are still hunkered down, too spooked and distrustful to take chances with their money.”

Among the key findings:
–People fled stocks: “A desire for safety drove people to dump stocks, even as prices rocketed from crisis lows in early 2009, and put their money into bonds,” the AP reported. In the five years following the crisis, investors from the top 10 countries pulled $1.1 trillion from stock mutual funds.
–The great cash hoard has begun: “Looking for safety for their money, households in the six biggest developed economies added $3.3 trillion, or 15 percent, to their cash holdings in the five years after the crisis,” the AP reported. That’s slightly more than in the previous five years, per the Organization for Economic Cooperation and Development.
–Getting rid of, and avoiding new, debt: In the five years before the financial crisis, average household debt grew at an unprecedented rate. In the U.S., the United Kingdom and France, debt rocketed more than 50 percent per adult; for all 10 countries, it rose 34 percent. Since then, debt per adult in the 10 countries has declined 1 percent, which economists say has not happened since 1946.
–Cutting spending: In order to cut debt and save more, spending has been sacrificed. “Adjusting for inflation, global consumer spending rose 1.6 percent a year during the five years after the crisis, according to PricewaterhouseCoopers, an accounting and consulting firm. That was about half the growth rate before the crisis and only slightly more than the annual growth in population during those years,” the AP reported. Sources:
http://news.yahoo.com
http://www.cnbc.com
http://www.bcg.com

13 thoughts on “Families around the world are pulling cash out of banks and hiding it in their homes

  1. This is not something that surprises somehow. Now wheres my mattress, I need to go by some bread ? – a one way trap that we are forced to step into or your arms are strapped behind your back with no resource to anything but clarity for those who see 😉

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    • Well I think that the best idea is not to use their system, which is actually built on laziness and then greed.
      So don’t use a bank, withdraw all the money, Don’t use a phone for important business (NSA has no power) and go back to real human interaction and then they loose their power

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      • Good point. If only I could…This generation will break the cycle. Using the medium we are now to enlighten as you are. Oddly. For some – too far sucked in to get out, short of becoming a gypsy. Though that thought pulls on my heart. I would be removing the opportunity I now have to give my children to be more than I, more aware in their steps and choices and exposed. They will see and the future must be set free for them. Through this medium – I see what I have felt, and I make plans to protect. In battle – some are the voice – some are the and feet – some hold the wounded and prepare them for the next fight.

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      • Wise words.
        When I was young I was aware of it but thought that the situation is not that bad. Bud by following the real news from the last 2-3 years I started to be real conscious about what’s what.
        And I think that if we who are awake and see the world wide tyranny we can apply the same tactics as they do but then … if we win … what stops us from becoming them.
        I think that is why in the Bible the lord is calling us sheep. Because as a group humanity really needs to have a leader good or bad because the vast majority is too afraid of ruling over their own lives

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