@TokenBoomerM to Progressive Politics • 1 month agoSmiling Hackerimagemessage-square59arrow-up1552arrow-down137file-text
arrow-up1515arrow-down1imageSmiling Hacker@TokenBoomerM to Progressive Politics • 1 month agomessage-square59file-text
minus-square@rockSlayerlink28•1 month 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•1 month 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@rockSlayerlink6•1 month 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 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.