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03-09-2023, 10:29 AM
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Sage
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Join Date: May 2013
Location: South of 466a, if you don't like me.......I live in Orlando.
Posts: 12,836
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Quote:
Originally Posted by manaboutown
This is a cite from 2014 so not current. Probably a greater inability to compensate savers exists today.
"The FDIC currently has far less money in its fund than it has insured deposits: as of Sept. 1, about $41 billion in reserve against $6 trillion in insured deposits. (There are over $9 trillion on deposit at U.S. banks, by the way, so more than $3 trillion in deposits is completely uninsured.) "
Is your money safe at the bank? An economist says ‘no’ and withdraws his | PBS NewsHour
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If >$41B needed......................it's called printing money.
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Identifying as Mr. Helpful
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