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Bhatara Katong Gage: Fans Books Jobcopas: The Safest Assets in the World #There's another reason banks have been moving a lot of cash ...
54 Banks Safeguard Their Own Money Here...
#BB&T has funneled $3.6 billion into the corporate version of this account.HSBC moved over $229 million here
Citibank has invested $4.7 billion.And HSBC has moved over $229 million.The crazy part is—they're not telling a single one of their clients or depositors about this account.You won't find a single press release about it.In fact, many of the companies havegiven these accounts different names just so people don't find out what they've been doing.Why?
Well, how would you feel if you found out your bank was putting its own money in an account that pays up to400-timesmore interest than what they're offering you?
That's exactly the case with SunTrust. They offer .01% interest on checking accounts...Yet, they have $810 million of their own money in this special type of account.And they're not the only big bank with big money socked away here.
#Etrade is one of 215 U.S. Corporations that have funneled money into "invisible accounts"Consider ETRADE...If you go to the company's website, you'll see they offer a variety of IRA plans, 401ks, options accounts...And of course they'll take your money if you want to buy and sell stocks through them.But nowhere on the website do they offer this type of account to the public.Yet, they have over $298 million of their own money invested in them.To put that into perspective, that's 17% of what their entire business netted in 2013.Many of the banks I'm talking about are the ones who got us in trouble in2007 by investing our money in risky, subprime schemes.The same banks who in 2009 gobbled up all of that free TARP money and pocketed record-breaking returns from the Fed's low-interest rate policies.Now, they're collecting more interest than they offer you and me... and they're doing it tax-free too.See the end of this article for a full list of the banks we've identified who have "invisible accounts."
54 Banks Safeguard Their Own Money Here...
#BB&T has funneled $3.6 billion into the corporate version of this account.HSBC moved over $229 million here
Citibank has invested $4.7 billion.And HSBC has moved over $229 million.The crazy part is—they're not telling a single one of their clients or depositors about this account.You won't find a single press release about it.In fact, many of the companies havegiven these accounts different names just so people don't find out what they've been doing.Why?
Well, how would you feel if you found out your bank was putting its own money in an account that pays up to400-timesmore interest than what they're offering you?
That's exactly the case with SunTrust. They offer .01% interest on checking accounts...Yet, they have $810 million of their own money in this special type of account.And they're not the only big bank with big money socked away here.
#Etrade is one of 215 U.S. Corporations that have funneled money into "invisible accounts"Consider ETRADE...If you go to the company's website, you'll see they offer a variety of IRA plans, 401ks, options accounts...And of course they'll take your money if you want to buy and sell stocks through them.But nowhere on the website do they offer this type of account to the public.Yet, they have over $298 million of their own money invested in them.To put that into perspective, that's 17% of what their entire business netted in 2013.Many of the banks I'm talking about are the ones who got us in trouble in2007 by investing our money in risky, subprime schemes.The same banks who in 2009 gobbled up all of that free TARP money and pocketed record-breaking returns from the Fed's low-interest rate policies.Now, they're collecting more interest than they offer you and me... and they're doing it tax-free too.See the end of this article for a full list of the banks we've identified who have "invisible accounts."
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