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/biz/ - Business & Finance

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49699760 No.49699760 [Reply] [Original]

They say the government guarantees up to $250,000 in FDIC insured banks and credit unions. But what they don't tell you is the government has unlimited time to repay what you lost if your financial institution collapses.

So is it better to keep your money at home?

>> No.49700552

>>49699760
I've always wondered this myself. Plus what's the point if the government is under economic collapse? By printing money to pay back already dilutes your money.

>> No.49700620

Keep your money in crypto. Don't give them a way to know you have it, they WILL seize. Fiat is going to zero.

>> No.49700661
File: 535 KB, 1206x1473, Byron Dale letter from US Treasury.gif [View same] [iqdb] [saucenao] [google]
49700661

>>49700552
Government doesn't print money. They get all revenue from taxation and borrowing. All money is created digitally by private banks.

The Feds would protect your deposits and pay FDIC claims promptly in the even of a bank failure. But where would they get the money to pay you? They would borrow it from private banks. And where do the banks get the money to lend to government? Banks create this new money out of thin air, digitally, in their bank computers.

>> No.49701565

>>49699760

They protect you from gaining interest

>> No.49701584

>>49700661
The bank buys bonds with real money
They lend with fake money made from nothing, but when they buy govt bonds it's real money