The bank run is happening! Almost half a trillion withdrawn from banks in the past 3 months
(dailyhodl.com)
🏆 - WINNING - 🏆
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You need to read more than the headline on this one:
The “primary driver” of deposit flight came from uninsured deposits, says the FDIC, as people moved to protect capital that is above the $250,000 FDIC insured maximum.
Case in point – the amount of insured deposits held by banks actually increased during the quarter as people diversified their risk.
Yet that 250k insurance really means nothing when this collapse happens. The FDIC is about as trustworthy as Pfizer
I totally agree.