Background:
- Trump’s second term could mean the downfall of the FDIC, CFPB: Here’s what that means for consumers | CNBC
- Senator warns of national security risks after Elon Musk’s DOGE granted ‘full access’ to sensitive Treasury systems | TechCrunch
What prompted this is I logged into my bank this morning to send some bill payments, and the FDIC banner at the top caught my attention. At first it made me laugh because of recent events, but that laugh turned into kind of a nervous chuckle:
I was like “Surely this administration won’t fuck with the FDIC” but then read through the articles above, and now I’m not so confident.
Currently, I use a small, local bank. I’ve never really worried about it because of FDIC protections, but should I move my money out of it to a larger bank? Withdraw it all and stuff it in my mattress?
I’m not freaking out, but I am concerned about this for the first time in my life.
The rational part of me says that if it gets to that point, my money would probably be worthless anyway except for burning it to keep warm.
Yeah, I’m definitely not going to trade my real money for phony crypto nonsense. Logistically, gold is a non-starter since I can’t actually use that to live.
Basically I’m at the stage where I’m trying to determine if my money is going to remain safe in a small town bank. Like I said, until now, I’ve had confidence in the safety net the FDIC provides.
LMFAO. “Real money”. Someone still doesn’t understand. You almost get it with the realization of gold but still not quite there.