VIDEO ON MSN MONEY
That worked real well for wealthy Russian investors in Bank of Cyrus when the economy collapsed.
Accounts were frozen to prevent further bank runs and charged a up to 40%% on larger accounts over $100,000 Euro to help stabilize the banks.
The Russians were making up 15% interest on savings until the banks started to fail.
Must be a good investment if foreign countries are buying it up like it was a fire sale.
The Government should borrow money from the people that have money in the banks instead of from China. They let the banks use are money . The reason the economy is bad cause a lot of the people cannot draw any interest on their money so they have less to spend and live on.
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[BRIEFING.COM] The S&P 500 trades lower by 0.5% with eight sectors showing losses. On the upside, materials (+0.2%) and telecom services (+0.3%) have held modest gains since the opening bell.
There were no noteworthy earnings reported in the materials sector today, but the group has drawn strength from mining shares. The Market Vectors Gold Miners ETF (GDX 26.50, +0.42) trades up 1.6%, while gold futures are higher by 0.6% at $1298.30/ozt.
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