TokenBoomer@lemmy.worldM to Progressive Politics@lemmy.world · 19 hours agoSmiling Hackerlemmy.worldimagemessage-square34fedilinkarrow-up1473file-text
arrow-up1473imageSmiling Hackerlemmy.worldTokenBoomer@lemmy.worldM to Progressive Politics@lemmy.world · 19 hours agomessage-square34fedilinkfile-text
minus-squareAnas@lemmy.worldlinkfedilinkarrow-up4·18 hours agoBanks usually hold other people’s money.
minus-squarerockSlayer@lemmy.worldlinkfedilinkarrow-up29·18 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-squarePyr_Pressure@lemmy.calinkfedilinkarrow-up1·13 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-squarerockSlayer@lemmy.worldlinkfedilinkarrow-up7·9 hours 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.