tag:blogger.com,1999:blog-9194011958266414948.post7624279430590926267..comments2023-07-04T07:30:43.126-04:00Comments on Financial Truth: Unknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-9194011958266414948.post-69786980063641709992009-01-15T16:54:00.000-05:002009-01-15T16:54:00.000-05:00one of the biggest unknown truths with FDIC insura...one of the biggest unknown truths with FDIC insurance is that something like 98% of all deposit accounts are under this limit, with most not even approaching the then $100k and now $250k limits.<BR/>wealth has been disproportionally accelerated upwards in the past 3 decades. if we see Argentina like inflation from the early 2000, the middle classes savings could become worthless overnight.<BR/>I think without the FDIC people would be more cautious about where they store their wealth. Thereby they will keep a closer eye on and watch what and how their respective bank makes loans and manages itself.<BR/>It is this reliance on external forces (most of the time government) that allow our liberties to be taken from us.<BR/>end the fed!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9194011958266414948.post-766912569512778102009-01-15T16:45:00.000-05:002009-01-15T16:45:00.000-05:00Dr. Ron PaulDr. Ron PaulAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9194011958266414948.post-38148952827526621302009-01-15T12:33:00.000-05:002009-01-15T12:33:00.000-05:00So without a FDIC, you would still have deposit "p...So without a FDIC, you would still have deposit "protection" because the banks would just have some kind of insurance? <BR/><BR/>But if the private sector can take care of this, why do we have a FDIC? Why does the government (and therefore the taxpayer) needs to guarantee all bank accounts?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9194011958266414948.post-34431805868462847522009-01-15T09:28:00.000-05:002009-01-15T09:28:00.000-05:00as an example, although europe does have a FDIC-li...as an example, although europe does have a FDIC-like agency, it only insures deposits up to 20000 EUR and only 90% of it.<BR/><BR/>so what a lot of banks are doing is join a private insurance organisation which insures all deposits, and they pay a premium for that.<BR/>and they're actually advertising that fact to their customers, especially right now, the way it should be.<BR/><BR/>although the system in europe is not ideal (the private insurance has some kind of state guarantee, too...) it showw you the idea of a private FDIC.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9194011958266414948.post-2422654161001008782009-01-15T08:46:00.000-05:002009-01-15T08:46:00.000-05:00or rather several competing deposit insurance comp...or rather several competing deposit insurance companies. Not just a privatised govt monopoly.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9194011958266414948.post-44091930200171384902009-01-15T07:40:00.000-05:002009-01-15T07:40:00.000-05:00Watched it three times to really understand its me...Watched it three times to really understand its meaning, but some things are still a bit weird. A private fdic? What the??Anonymousnoreply@blogger.com