@TokenBoomerM to Progressive Politics • 12 hours agoSmiling Hackerimagemessage-square45arrow-up1341arrow-down121file-text
arrow-up1320arrow-down1imageSmiling Hacker@TokenBoomerM to Progressive Politics • 12 hours agomessage-square45file-text
minus-square@rockSlayerlink19•10 hours agoBanks are insured, along with all accounts under $250k. I don’t know about you, but I’ve never had to worry about going over the FDIC limit.
minus-square@[email protected]linkfedilink1•5 hours agoI mean, I’m not taking sides or anything but isn’t the FDIC a government agency and any insurance money used to cover thefts ultimately come from taxpayers?
minus-square@rockSlayerlink2•55 minutes agoNo, because the US federal government has monetary sovereignty using a Fiat currency, meaning the US can pay for it without extracting it from taxes.
Banks usually hold other people’s money.
Banks are insured, along with all accounts under $250k. I don’t know about you, but I’ve never had to worry about going over the FDIC limit.
I mean, I’m not taking sides or anything but isn’t the FDIC a government agency and any insurance money used to cover thefts ultimately come from taxpayers?
No, because the US federal government has monetary sovereignty using a Fiat currency, meaning the US can pay for it without extracting it from taxes.