“the last thing you should be doing is pulling your money out of the banks…”
(by Half Dollar) This can’t be good.
When pseudo/quasi-government agencies tell you the last thing you should be doing, the truth is overwhelmingly found in the contrary.
The FDIC Chair has given an urgent message to everybody who has any money in U.S. banks.
When the Chair uses words and phrases like, “fear”, “volatility”, and “hoarding cash”, there must be a problem.
Here’s the, for lack of a better term, ‘public service announcement‘, in its entirety:
Now here’s the question: If the Fed and the Federal Government are simply going to backstop anything and everything and print up as much money as needed to cover any losses of real significance, then why does it even matter if people keep their money in the bank?
The FDIC won’t tell you this, the Fed won’t tell you this, and the government won’t tell you this, but here’s something that if I can see coming, then surely they can see it coming too, and this is why it matters: There are already so many inflationary pressures building in the economy with what the Fed and government are doing and planning, so any pick-up in money velocity that the Fed & government can’t get a clear picture of could put a damper on whatever they have planned for us.
Moreover, price inflation on Main Street could quickly spiral out of control, rendering fiscal and monetary stimulus even more ineffective than they already are, thus requiring even more fiscal and monetary stimulus, and so on and so forth until the US dollar hyperinflationary death spiral kicks-in.
In other words, once the crack-up boom kicks off in earnest, the variables are going to be hard for the Deep State Globalists to control.
Said differently, just like when Covid-19 takes hold in an area, the coronavirus is very hard to contain, and in a similar way, once people start panic buying stuff, the hyperinflation will not only be hard to contain, but ultimately, it will be impossible to control.
The “Chairman” (FDIC’s words, not mine) concludes by saying no depositor has ever lost a penny since 1933 (of FDIC-insured funds).
Of course, in reality, depositors have lost so much more.