The continuing tremors in the banking system, as indicated by the intensified stress in the credit markets (see BCA Research chart above), which has fundamentally emanated from the bubble bust in the US, has rippled almost internationally and has most importantly began to raise questions about the sanctity and integrity of the current operating monetary platform-the Paper money standard.
As the system remains besieged from its self-inflicted ordeal, it is everyone’s task to ensure of the security of their deposits via the institutionalized deposit insurance coverage or a safety net (guarantee) provided by government institutions to depositors in order to promote financial stability.
According to the Economist, ``AS BANKS tumble like skittles, customers across the world are eyeing their cash nervously. Savings are protected in around 100 countries, with varying degrees of generosity. Those spooked by a run on a bank in Hong Kong this month may have been particularly nervous because only HK$100,000 ($12,860) of their cash is protected, including interest. Ireland has recently extended its limit from €20,000 ($29,337) to €100,000, to reassure savers. In America the first $100,000 is guaranteed for each depositor at each bank, while Britain's savers are limited to £35,000 ($64,650) in one institution, although an increase is expected soon. It is not only a matter of how much is protected, of course, but also of how quickly and easily the savers would get it back.” (highlight mine)
Of course, the other alternative is to own precious metals.