Actually it’s not. The federal government cannot do a thing about it. When deposit in a bank, you are not the owner of the money. You are a creditor. And the bad news is you are way down the list of folks to get repaid.
Of course, there is FDIC insurance. If a couple of big banks tank, forget about FDIC. It will be bankrupt. And THAT is when those who have, will be asked to give just a little, to those who do not have.
I am not saying this will happen. I am saying it could happen.
You’ve confused apples and oranges.
The arbitrary taking of funds held by a guarantor is not an insolvency, it is a taking of property.
Trusts are constitutionally protected contracts. The Gov is specifically prohibited from impairing any contract.
I know that doesn’t mean they won’t do it; they’ve defecated on that document frequently in the last 150 years or so.
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