People are so shook thinking they will never get their money back blah blah blah.. the government literally prints new money every day... there will be PLENTY of paper money to ensure your savings. If you're that scared, just buy physical gold and silver.. but it's a manipulated metal. All of this hype is just to scare people, only idiots would run and pull their money out of a bank that's FDIC ensured.. bunch of idiots and clowns that don't know how money works. Sad. Stop giving into the propaganda.
If your money is in a bank that is FDIC insured, you're protected. If you have money in crypto.. you're fucked. There is zero FDIC insurance on crypto... it's the wild west.
FDIC only has 200 billion dollars in funds, but they're able to cover trillions of dollars (everyone's bank acct)? FDIC can just print money? Or is that the treasury? How does it work? I just want to know, not arguing or anything.
The FDIC is backed by the U.S. government; the U.S. Treasury and the Federal Reserve which is basically the printing-press that is capable of printing unlimited amounts of paper cash. That's why it's stupid to do any "bank runs" or be worried about it, all cash is literally digital anyways and if there needs to be cash the fed can just print as much as needed. As long as you bank with an FDIC insured bank or a money account that is FDIC insured you have nothing to worry about... even if a bank flops, that's why there's an FDIC in the first place and most likely why the government stopped making currency that is backed by gold. If you have cash in a bank, you'll have it until you spend it, it's yours.. but it's only a matter of time until that cash you hold is going to lose its value. I have a feeling they will market CBDC as backed by something of value, and will claim it's an "inflation killer" blah blah blah.
This will mean USD will be inflated and will lose value compared to other currencies like BRICS. The problem isn't running out of money, but USD Fiat losing all value. Diversify. Some cryptos will go up, most will go down. Gold and silver are safe bets. You see the value loss, but look at currency revaluation, you won't get 1:1 trade for your fiat in the new system. See this as an opportunity
Crypto is THE WORST thing you can invest in, it is unregulated and thieves flock to crypto as the best thing to steal because it's literally the wild west. Crypto is not backed by FDIC, many people have been scammed out of their NFTs and crypto, it happens all the time. A crypto company you keep it in can go bankrupt and you're basically fucked.
Gold and silver are the safest bets, it's always in your possession, it will maintain its value and its accepted as money everywhere and has been accepted as money for thousands of years.
See, not your keys not your crypto, that's where your woke argument against crypto falls apart.
Only a fool doesn't have the keys to his crypto, and then, the whole fucking point of crypto is you don't need FDIC because it's impossible to do a bank run or print more crypto.
If you think crypto is the worst investment when Bitcoin has outperformed every asset in the world of the past 10 years you dont know crypto. You are correct that it is an emerging market and there have been some scammers but crypto and the blockchain networks they run on is the future
I'm not a financial guy but here is my take on this. The federal reserve and the FDIC are part of US inc which is currently, or will be very shortly, bankrupt. There is a current liquidity crisis that straining all of these over leveraged banks, all of which are playing music chairs with an ever decreasing number of chairs.
If the FDIC runs out of money, the fed would have to print more which would make the situation far worse because then EVERYONE would be trying to pull their money out. If congress doesn't raise the debt ceiling, which I believe WILL happen at some point, US inc goes brankrupt.
The problem is that the cabal needs the CBDC to be ready to take over and they aren't ready for that transition yet based on my understanding.
So I don't understand why running to the bank to pull out large sums of cash is "stupid." In fact, if it makes things worse for these asshole bankers, then it's my civic duty to help by doing exactly that. Don't we WANT this system to crap out sooner rather than later? Follow up question, doesn't adding to the crisis help bring that faster?
Side note, we're on a board that is dedicated to waking people up to the deception of those who run this world and you're telling people "Don't worry, trust the FDIC (ie government) with your money, when the banks fail Uncle Sam will make it better? US inc WILL default because it has to, and when it does, things like the FDIC will go with it. In fact, I think the reason they shut down SVB first was to bail out VCs before the major shit show.
I have a theory that all of this fear and panic that we are experiencing on GAW is astroturfed to an extent by our enemies to neutralize one of their greatest foes and a major force against the Great Reset, and people here ate it all up and ask for more, because it plays right into their biases and fears. And all of that fear and doom have rendered GAW impotent.
2 Timothy 1:7 in the Bible states:
So, stop acting like a scaredy cat. Kill your fears, kill your hysterical feelings, and kill your biases. Time to put on our thinking caps on and figure all of this out.
I dont think you understand whatbis meant when we say “print” money. The banks create new money via debt. That money is never actually printed though. They never had of it. Its just numbers on a screen.
I won’t be surprised if this also gets used as a club to beat on Republicans in the House to pass a clean debt limit increase. There are already articles crying about how they’re endangering the economy by insisting on conditions to pass a debt limit increase.