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re: Instead of trillions of dollars of “stimulus” why not just press pause
Posted on 4/10/20 at 11:13 pm to Jcorye1
Posted on 4/10/20 at 11:13 pm to Jcorye1
quote:
Woof
OP doesn’t realize there’s around $10T in US deposit accounts that would need to be insured by the FDIC which has $125B in coverage
It also would mean the FDIC would take over every bank in the US in a matter of months.
Posted on 4/10/20 at 11:28 pm to Golfer
I’m not sure that the OP realized that when his bank lends his neighbor money that his bank is actually lending the neighbor OP’s money with a federally backed promise to give it back to him in the event he asks for it and that the group that backs that promise doesn’t have $13T+ to actually back all US deposits.
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