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.
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.