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/biz/ - Business & Finance

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51066045 No.51066045 [Reply] [Original]

What is the point of FDIC if banks have 0% reserve requirements and they can bail in deposits? It's literally just a taxpayer baghold for banks to take extra risk...

>> No.51066863

>>51066045
>It's literally just a taxpayer baghold for banks to take extra risk
Yes. They gamble you lose. For your protection.

>> No.51066975
File: 535 KB, 1206x1473, Byron Dale letter from US Treasury.gif [View same] [iqdb] [saucenao] [google]
51066975

Banks do not lend out the deposits of savers.

Banks create new digital money AFTER the borrower signs the loan contract. The entire money supply is created in this way by private banks, NOT government.

The original purpose of FDIC was to restore confidence in the banking system after 9,000 banks failed during the great depression. These banks failed because they practiced "fractional reserve" banking where the bank lent our more money than it had in deposits of actual money (gold and silver).

Fractional reserve banking no longer exists. Banks simply create new digital money when they lend, with no prior need for deposits or reserves.

FDIC still serves its original function of persuading people to trust evil banks.

get proofs at:
bankLIESdotORG

>> No.51067012
File: 618 KB, 782x782, 1660687629434562.png [View same] [iqdb] [saucenao] [google]
51067012

Oy Vey!
Stop being so anti-semitic, goys!