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originally posted by: tanstaafl
originally posted by: KSDakar01
I did some research on the balance sheet of the FDIC. If you go to the website it will tell you that the reserve holding is like $168-200 Billion. This is not the current data...
If SVB did take the FDIC reserves, it wont show up on the balance sheet until the reported is posted for public view. On or about May 14 (55 days after Q1 ended March 23) the report will post. If and when the balance is ZERO, there will be a run on every small and medium sized bank in America. I hope I'm wrong here, but this is the event that could usher in a new CBDC that IS insured under a new type of FDIC.
So... are you saying it is never replenished from the general fund?
I'd be extremely surprised/dismayed to find out there was no automatic replenishment and/or fallback mechanism.
Me, I think I will do alright just making some primitive rustic furniture.
originally posted by: KSDakar01
If this happens....
The Fed NEEDS a crisis to usher in CBDC.
originally posted by: incoserv
a reply to: tanstaafl
Replies like this frustrate the hell out of me!
Really? Seriously? What "general fund" are you talking about? Where is this magical "general fund" supplied from?