“If the FDIC is going to be overwhelmed, the $ 100K coverage won’t help. So limiting deposits is useless.”
If FDIC is depleted would not the feds provide funds for insuring up to 100K? In this environment I believe maintaining anything over that amount in any one bank is taking undue risk.
I don’t subscribe to a doomsday collapse or revolution but do believe the unwinding of this credit bubble will be painful to many or at least a reduced standard of living for a period of time.
Your points are well taken especially trusting in The One who runs the whole show.
Good point there. I didn’t mean to imply (although it appeared that way) that a person should just go over the limit. Should have said, “Any deposit is at risk if what Mr. Cow says is true.” And, honestly, a scrunch in standard of living might have a few good side effects,like changing the sense of entitlement that you see around (that Socialist mindset that seems to have crept in, Mr. Cow referred to. That part I agree with). We might all get to think about what we should and should not value. And, thank you for your service, Sir.