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posted 3 years ago by MerlinsCry 3 years ago by MerlinsCry +378 / -2

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– Carry_Handle 5 points 3 years ago +5 / -0

"Yes, it’s insured by the FDIC, but if the financial system collapses the FDIC has nowhere to go to source this money."

The FDIC had to offer the up to $250,000 insurance on all bank accounts then they would only have enough currency to cover about 2% of bank accounts.

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– Michael_Golfer 1 point 3 years ago +1 / -0

Thank you for sharing. That’s a lot worse than I was expecting it to be. Even though the banks got us into this mess, we might ultimately be the ones who have to pay for it.

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