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  1. 03-20-2020, 03:53 PM #1
    Bassin08
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    Safety of FDIC accounts

    Do you think the government will be able to cover these types of accounts? Even if they print the money to do so, will it be of any value? How about government insured Credit Union accounts?
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  2. NitroZ7
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    #2 03-20-2020, 04:22 PM
    I saw something that they were going to backstop money market mutual funds and I thought they said no limit. I would check with you broker on that and see if that went into effect. It is funny you asked this because I moved alot of money from a municipal money market fund into a Treasury money market fund today on worries that some municipalities could run into trouble. I have not heard anything about FDIC limits being increased. If there is an FDIC loss I cannot imagine them not covering within the program parameters. If they didn't we would have a run on banks and then it would be game over.
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  3. Bassin08
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    #3 03-20-2020, 05:15 PM
    I read an article that the FDIC will only be funded for about $1.25 per $100. If that is true, there wouldn’t be any advantage to keeping money in CD’s.
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  4. dvl2700
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    #4 03-22-2020, 02:31 PM
    The government will print more money to cover the FDIC accounts. Problem is due to inflation the money you had will not be able to buy much of anything. Think of Germany before WWII, Argentina, and the current Venezuela.
    dvl2700
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