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Vanguard Total Stock Market ETF Message Board

  • thebookstar1 thebookstar1 Aug 19, 2011 3:42 PM Flag

    VG MONEY MKT ACCTS NOT IMUNE FROM BREAKING THE BUCK ...

    If you are still in stocks like a fool, you are in a money market sweet acct. That is not fdic insured. that means that if the prime money market investments in gov. Obligations and other gov. Bonds, bills and other investments get whacked from the s & p downgrade of us debt, you have a chance of losing as much as 5 or 10 cents or even more of your standing cash. that means on 100k you will lose 5k if your money market fund breaks the buck by five cents. ten cents will lose you 10k on your 100k in sweep acct. Cash. it can happen and if you stand there and let the truck run you over, then don't blame me or anyone else for not doing something about it. by the way etrade offers fdic insured sweep accounts so you avoid all this added risk you have with unprotected vg accts. best of luck to those of you wise up, and god bless!!!

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    • You nailed it!!! Pulled all my money from Vanguard yesterday. Thanks for the heads up brother!!! My Brother Jeff who is one of the top big wigs at JP Morgan told me that I made a smart move. VG is totally unprotected against breaking the buck, so are hundreds of other brokerages out there. Not the time to take chances with nonFDIC accts of any kind. And, Jeff has alot of basis for his saying this. He told me more about what's really happening in Washington and with the fed, and with the majority of banks out there. My warning to all, check the fine print at your bank, including BofA, Citi, etc... Are you really FDIC insured or r they just telling you are? Have you checked your bank accts. facts in hard printed form. Ask for the bank acct. description in written form that the bank must give you. If they don't have it, run!!! But withdraw all your money first. ; )

 
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