The Elites are bailing out their own banks, not yours

98% of the deposits in SVB were uninsured, meaning that those deposits wouldn’t shouldn’t have been covered by FDIC insurance. That means any accounts with balances above $250K were facing the loss of their funds.

….it was decided that all deposits would be covered, insured or not. Crisis averted, right?

Wrong. It turns out that only SVB and Signature banks would be covered; if any other banks fail, like your bank, your community co-op in your hometown or state, or any other bank in flyover America far away from the Coastal elites – if they get into trouble (because people are moving their money into “protected” banks), then that’s not covered……. That’s tough titties for you.