What the hell is this?
There is no indication that there is a run on money in banks accounts so the FDIC just put this video out:
How idiotic can you get?
When there is no one thinking about the safety of the money in their bank accounts, it is the absolute worst thing in the world for the head of the FDIC to put out a video saying there is nothing to worry about.
(ht Martin Hill)
-RW
Having your money is not as worrisome as how much your money is worth.
ReplyDeleteObviously trying to stir up a problem so they can come in with their "solution".
ReplyDeleteCause the problem ...offer solution.
First they cause the economy to crash, now they are introducing UBI.
In this next case it will be bank run so they will be able to introduce a cashless digital dollar system. Everyone gets a little fitbit type RFID wallet.
Then cash will be gone.
Then everything will be tracked and traced and automatically setup to tax.
Then the IRS will be able to automatically be able to audit your finances.
Tax returns could eventually become fully automated.
Then they can introduce the social credit score so if they don't like you, your UBI decreases or your tax rate goes up, etc.
Then they can make owning Gold and Cryptocurrency illegal and no way to hide.
The system will be ripe for corruption from those with the power.
It'll come in handy for her congressional campaign.
ReplyDeleteActually,there was a mini-run on banks last week. Many watching what was happening in the grocery stores decided maybe they should have some cash on hand, you know, just in case. At the same time, a huge number of people who normally deposit cash from their "non-essential" businesses into a bank account just didnt. Banks order cash in advance based on routine expectations and many had to limit daily cash withdrawals to conserve cash on hand until future cash delivery dates. Cash withdrawal limits are still in place in most CA banks but are slowly relaxing.
ReplyDelete