Loading ...I’m sure you remember what happened in Cyprus several years ago. When their banks failed the people were reimbursed up to a certain amount, the rest of their money was treated as if they owned shares of the bank. I forget if it was up to $50 or $100K. Withdrawals from ATM’s were limited to $200 or $50 or something like that.
Who can know what these criminals will do here? Maybe they’ll just try to replace it with CBDC’s. It’s really nothing to them to print up a few trillion to make everyone whole, but they don’t do that for us useless eaters. Rather they’ll inflict a maximum amount of pain and chaos to bring us to our knees and usher in whatever they’re looking to accomplish.
If you think about it, bank failures should never happen with ability to print, nor should their be any taxes.
I know I didn’t answer your question, I suspect they’ll make you whole up to the FDIC amount, whatever that is now, used to be $100K. Anything over that I suspect will vanish.
One thing for sure. If there is a bunch of failures, all the talking Fed heads and soothsayers will claim they didn’t see it coming.