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Trump’s DOGE Team Is Asking Potential Appointees If They Can Abolish the FDIC (truthout.org)

submitted 2 days ago by Garibaldee@lemm.ee to c/usa@midwest.social

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[–] SineSwiper@discuss.tchncs.de 5 points 1 day ago* (last edited 1 day ago) (1 children)

If it's in a bank, that's peasants' money, not the stock options and real estate and foreign accounts and Bitcoin investments and the other thousands of ways the capitalists hide money.

And why wouldn't they cause another bubble to pop that the government would be forced to bail them out of?

[–] DefinitelyNotAPhone@hexbear.net 8 points 1 day ago

The bank's money is the capitalists' money; that's what they're loaning out to each other and investing into stocks. A mass bank run would run through Wall Street like a wildfire.

And the FDIC is the government bailing them out, that's the entire point of insuring money in bank accounts.