[RayChuang88]

I think the deposits are going to rocket even HIGHER with the fear of the collapse of the Eurozone. This of course ends up benefiting companies like Morgan Stanley and Goldman Sachs.

Interestingly, why aren't the Europeans putting their money in the Big Four Chinese banks? Is it they realize the Chinese banks aren't much safer than the European banks?

[Former Proud Canadian]

Why would ANYONE put deposits in Communist Chinese banks???? No rule of law. No English common law. No history of democracy or fairness, especially to foreigners. No convertible currency.

[fightinJAG]

Do the Chinese banks have something similar to the FDIC insuring their depositors’ accounts?

The reason people deposit in American banks is that, if the whole place goes belly up, they at least have a shot at getting a bailout by the US taxpayer.

If your money didn’t earn anything invested, and you had the choice between a bank where you could still lose it all and a bank where, if you lost it all, the U.S. government was on the hook to made you whole for all you lost, you’d go with the U.S. bank.

That’s what’s happening here.