But how long until the FDIC runs out of funds since it went over its limit for each acct with the first bank collapse. Also the I figure most of the people that are shareholders and investors are kind of like Congress and see it coming and act accordingly
Exactly. That’s what I was thinking. They’ve lost nearly half their holdings this year alone already, from what I’ve read. If this year keeps going like this, they gonna be down to zero, and then what? Print more money? It wouldn’t worth the paper it’s printed on.
So the fed prints/invents more cash and spreads the recovery expense/cost/devaluation/inflation across everyone worldwide who uses US currency to conduct their business.
This works when the vast majority of the world is uses the Dollar, but as we are seeing many countries are pushing away from the dollar to insulate themselves.
BRICS has already started replacing the dollar for trading of goods and are changing their currency why would it take a long time for the US to change it if we have the gold to back our currency?
So for all the normal people who lose everything in this... what happens to them? Where is the protection of the people?
But how long until the FDIC runs out of funds since it went over its limit for each acct with the first bank collapse. Also the I figure most of the people that are shareholders and investors are kind of like Congress and see it coming and act accordingly
Last I checked, FDIC only had $180 billion. The total bank deposits are 100 times that.
Exactly. That’s what I was thinking. They’ve lost nearly half their holdings this year alone already, from what I’ve read. If this year keeps going like this, they gonna be down to zero, and then what? Print more money? It wouldn’t worth the paper it’s printed on.
So the fed prints/invents more cash and spreads the recovery expense/cost/devaluation/inflation across everyone worldwide who uses US currency to conduct their business.
This works when the vast majority of the world is uses the Dollar, but as we are seeing many countries are pushing away from the dollar to insulate themselves.
BRICS has already started replacing the dollar for trading of goods and are changing their currency why would it take a long time for the US to change it if we have the gold to back our currency?
lmao...lol even