s only a matter of time
The global financial crisis of 2008 left many people feeling scared and confused about the future of their money, and the stability of the banking system. In January of 2009, the Chancellor of the UK declared a second bailout for banks in fear of a financial collapse. As news of the bailout spread, it became clear that the US Federal Reserve had two choices: keep tightening, leading to a recession and a new financial crisis with new bailouts; or stop tightening, leading to a potential spiral of inflation, and consequently the US Dollar losing its status as the strongest currency in the world.
The bailout created a new generation of believers and skeptics alike, which has been especially evident in the crypto-currency community. While crypto-currency is still a controversial topic, the truth is that banks are still FDIC insured up to a capped amount of $250,000, which does not increase with inflation. This amount is relatively low and could barely get you a loaf of bread.
The current crypto-currency implosion has lead to the collapse of FTX, a company dealing in shady activities with crypto-currency. This news has sparked some concern amongst crypto-currency believers, who worry whether or not their funds are truly safe.
The truth is that the government is working diligently to fulfill its obligations when it comes to FDIC insurance, and the funds deposited in banks are generally safe. However, the price of bitcoin and other altcoins have been falling along with SVB, which can create a sense of fear and insecurity.
It is not surprising that the mainstream media is trying to push their own narrative of propaganda and fear onto the public, since this is what sells. But it is important to remember that the more time passes, the more banks could potentially get rekt. The system has not changed much since the financial crisis of 2008, so it is only a matter of time before we see more bailouts and collapses.
It is important to remain vigilant and aware of the current financial situation in order to protect ourselves, while also doing our own research to make sure we are making the right decisions when it comes to our money.