Given our economy's recession right now, would it be safe to deposit more money into my savings

How would depositing more money into my bank account affect the economy as of now (pertaining to the recession and such). Would it even have a great affect; if so, what kind? I have right now about $516 in my account.

Also, would something like this happen: the face value of $ decreases, the FDIC can%26#039;t insure HSBC and other banks anymore, and then we can%26#039;t really get our money from the banks back? Is the economy right now similar to the Great Depression? If so, how are they similar?

If our $ in the banks depreciates, would we be %26quot;losing%26quot; $ in the in the long-run if we deposit $ right now? Is this possible

Lastly, is putting $100 into my savings account better (for me) than having it sit in my room, despite having to consider the rate of inflation when opening a bank account/ depositing more $ into bank account? Must I pay tax if so what kind if my $ gathers interest, even if the interest is not a lot (even if the $ in my account is not a lot?

Thank you very much

Given our economy%26#039;s recession right now, would it be safe to deposit more money into my savings account?car loan

Put your money in the bank. It is safe there. This is NOTHING like the Great Depression of the 30s.

Given our economy%26#039;s recession right now, would it be safe to deposit more money into my savings account? loan

SRC is right. To answer your questions, you%26#039;d need a couple years worth of economics and banking education.|||You asked: How would depositing more money into my bank account affect the economy as of now (pertaining to the recession and such). Would it even have a great affect;... The US economy is figured in the Trillions of dollars. Your $100 added to $516 would not have ANY effect on the economy. We are nowhere near a great depression. Putting your money in a bank account earning less yield than inflation does mean you will lose earning power in the long run. But it is not as much of a loss as keeping it in your room and not getting any yield at all.|||if it is FDIC insured the ok|||I think its your choice in the end ,may be you should try investing in ETF ,ETF returns are much higher then depositing in the saving accounts it can very from 10% to 15% return per annum

and since now all the ETF are fairly cheap its a good time to invest in ETF|||yes putting cash into a major bank is very safe.

We are nowhere near the great depression. people were starving during that, and historically you need a war to break a depression too.

Whether your money is in the bank or out of it, it makes no difference to the price of the USD.

If it is accumualting interest that helps you. Once again, whether it is in or out, inflation will affect it the same anyway.

At least if it is in your will resist the effects of inflation more.

If your account gathers interest you are supposed to pay tax on it. For your sum it will not be worth worrying about yet.

Hard Cash is the worst investment, only useful if there is a big war on, or you have to leave the country in a hurry :)

And if it comes to the crunch like that inflation going through the roof or a corrupt goverment assuming your funds can make it worth nothing anyway.

If you want something that won%26#039;t devalue in that situation you are better off with gold or silver.|||when you walk in the bank and you see the FDIC sticker on some glass window or door or whatever you see it, then the bank is INSURED, MOST COMMERCIAL BANKS ARE INSURED, so put 99,999 in that bank and you%26#039;ll be ok, if you put 100,001 then you might lose a dollar if the bank crashes cause it only insures 100,000 OK......keep your receipt if you think they aren%26#039;t gonna give you back that amount, and yes your dollar loses value cause of INFLATION, as you can see gas prices go up, our dollar weakens, so the basket of goods and services go up, the price level goes up, CPI consumer price index is the technical term for that, check it out and see how much the CPI has gone up over time....you might learn something you never knew......some jobs help this from COLA cost of living adjustment, they pay you more cause the CPI gone up