This morning before we started school I quickly checked my email, and couldn't help but notice the latest headlines about another big bank failure-- WaMu being purchased by JP Morgan. I was commenting about it to my husband, as we were discussing how it will affect those of us living overseas who must deal with the falling dollar. The government is scrambling to rescue the banks and economy, and we are seeing a domino effect as one by one banks are being bought out by even bigger banks. You have to wonder when it is going to stop. WaMu assured the investors that on Friday, "everything will be business as usual."
It reminded me of the television show I used to watch as a young girl, "The Beverly Hillbillies." Jed Clampett became a millionaire after discovering oil on his property back in the hills, then moved to Beverly Hills, California, and put it all in Mr. Drysdale's bank--as he was assured it was the safest place to keep his millions. Every once in a while Jed would get the notion to go withdraw his money, and Mr. Drysdale would panic--and would do everything he could to convince Mr. Clampett not to withdraw his money--little did Jed know that "his" money was not really sitting in Mr. Drysdale's bank--it had been invested somewhere else, hopefully wisely and the bank could be trusted to do this for him. One time Mr. Clampett even went to the bank just to "check" on his money and asked Mr. Drysdale if he could see it.
Ever since we got married, my husband and I have been investing in this really great bank that we both committed ourselves to. (It really helps when both the husband and wife are in agreement when it comes to finances.) We decided that we would try our best to live debt free, and put as much as we can into this bank. It pays great dividends, and all the investments are backed in solid gold and precious stones, and only prime real estate. Some investments pay hundredfold, some sixty, and some thirty.
At the current time, we have far reaching interests at home and abroad, in the U.S. and countries such as Papua New Guinea, Italy, China, Ukraine, Poland, India, the Canary Islands, and a few in Africa. We know our future is secure with our resources and assets going there, and fully trust the Sovereign Governor of our trust fund, because of his government there shall be no end.
Where are you putting your investments? I know I will someday regret not laying up more where thieves can not steal, and where moth and rust doth not corrupt.