The mere existence of the FDIC encourages risky behavior by banks and anesthetizes the public regarding the safety of their money. Free-market banking had its own non-governmental version of deposit insurance, but it was run as a real insurance operation, not as the current scam backed by government printing presses.
el8 over 11 years ago
Grigori A. Potemkin, prop.
blackash2004-tree Premium Member over 11 years ago
Where are the funds that insure our deposits are secure?
Could it be the same place as the Social Security Trust Fund?
What are the choices? Borrow from China or print more money?
pschearer Premium Member over 11 years ago
The mere existence of the FDIC encourages risky behavior by banks and anesthetizes the public regarding the safety of their money. Free-market banking had its own non-governmental version of deposit insurance, but it was run as a real insurance operation, not as the current scam backed by government printing presses.