FDIC has like $50 billion. That is like 1.3% of all deposits they cover.
Discussion
They also have a $500 billion line of credit from the treasury.
In short, like everything in this ridiculous shell game, we pay for it.
When the parasitic class overwhelmes the producing class, the parasites will turn on themselves until nothing is left to leech on.
Grab your popcorn 🍿
🤣 A line of credit to pay in the case of a banking credit crisis. The irony is magical.
Do you know how they hold that $50 billion? Is it as UST that they have to dump to cover payouts?
Okay I was way off. They have like 125b on their balance sheet and a 100b line of credit at the treasurt. And I have no idea what the balance sheet consists of. The banking sector represents like 22t of deposits, so that's also a fun fact.
So the fractional reserve system is insured by fractional reserves?
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I mean…you didn’t actually think they had cash sitting in a vault just hanging around waiting for a bank collapse, did ya?
🤣 I actually just assumed they had absolutely nothing, $0. I thought they would immediately fire up the printers. Surprised there’s anything.