Yes or about how much FDIC insurance exists ($125bn and a $100 loc) relative to the $22T in banking deposits?
Discussion
Yep, I brought this fact up with our friends. Most said “Well that would never happen.” One started to look extremely uncomfortable and texted me to go to coffee today.
Then you can also tell him that since 2008 now bank bail-ins are allowed... and show him the leaked FDIC meeting conversation...
Oh another thing #[5]
Many still dont know it yet... but there are 0 reserve requirements for banks anymore... #[6]
So true. I actually got into an argument with a very successful, very smart businessman friend about this last year. He was adamant I was wrong so I made him Google it in front of everyone. He kept saying, “That can’t be right.” 🫠
The main problem is that there are no adults left. There’s no one to trust at the fed, in politics, they’re mostly all old geriatrics. Who will restore trust and order? Who would they put out there with any credibility to bring order and give the illusion of security?