Making banks feel risky and unsafe will also push more consumers towards gold, crypto and other scam financial products, inflating their value and creating a new pool of victims. The Crypto Coup will loot all our country's wealth and prosperity.
Reposted from
Evan Sutton
The FDIC is funded through fees assessed to banks based on the level of risk they pose. Abolishing it would save the federal government $0, but it would save banks a boatload. Only downside, of course, is the risk that those banks go belly up and take regular people's money with them. No biggie.
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14% of all types of crypto is owned by around 1200 people.
They can individually sell all of their holding, watch it fall, then buy back more and sit on it again.
They are called whales. The person with 1BTC is nothing to someone who has 10K, 50K BTC
You can put money in a Canadian bank bc they have much stricter standards.
But if there is a global currency crisis? Hard assets.
In this case, I just look at his track record of suing, browbeating and bankruptcy. Only... You can't really do any of those things with gov't debt.
Relevant: https://siepr.stanford.edu/news/united-states-borrowing-binge-about-burst
Too many countries own US Treasuries and rely on the dollar. If the global reserve currency fails/or full faith and credit is lost, it's calamity.
Because, in such a scenario where there is a currency collapse or a debt bubble burst, bond premiums may disintegrate.
Block chain is a scam.
AI is a scam.
Driverless cars are a scam.
Clean coal is a scam.
Uber is a scam.
See a pattern?