⚡The money trail doesn't lie⚡
🏛️ The Federal Deposit Insurance Corporation (#FDIC ) is an independent federal agency of the United States and was formed as a result of the Crash of 29. It was created after the Glass-Steagall Act of 1933 was passed, which among other things established the creation of the FDIC, which must guarantee the recovery of money to its depositors if a bank fails.
🇺🇸 The FDIC provides money when financial institutions fail, inspiring confidence in banks and customers. The agency guarantees deposits of up to 100,000$ in member commercial banks, contributing to the solvency of the United States financial system and ensuring that savers and depositors do not have to worry about their money.
📊 The chart exposes a terrifying reality: the unrealized losses now plaguing FDIC-insured institutions are exceeding those seen during the 2008 crisis. By far.
✍🏻 The data underscores the severity of the situation and serves as a dire warning of the storm brewing in the financial sector. It's not a crisis. Nor is it a recession scenario. This is an eerie replication of what happened in 2007-2008, but on a far more dangerous scale.
🏦 Now tell me what you think about Treasury Secretary Janet Yellen saying the US economy "is healthy" and that the past few months of cooler jobs data are a sign of a "soft landing," not a recession, and that the economy is "deep in a recovery."
💎"Money needs to be separated from government."
