...during the collapse, the FDIC (which couldn't cover even $100,000 per institution as it was at the time) raised the level to $250,000 per institution!!!
This was done to make the people BELIEVE their deposits were covered and so the withdrawals were halted.
It's like making a tight rope walker BELIEVE there's a net under him (when there isn't) in order to get him to walk the tight rope in the first place.
A trick of the mind you might say. This is exactly what the FDIC does to keep depositors believing there is a safety net in the event of a major financial collapse of banking institutions, leading to mass withdrawals of savings as this video proved.
It also exposes the immoralaty of fractinal reserve banking.
"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
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