You know that our financial system is totally and royally screwed when FDIC has to borrow funds from banks.
I thought this was satire but I confirmed it after I saw articles in mainstream news.
It is supposed to work the other way around….FDIC is supposed to lend to banks who are at risk or failing. When you see “FDIC Insured” that is supposed to mean that even if the bank fails you will get your money back (up to a certain amount). Now that very fund is borrowing from them? This is such a scam. Guess who’s paying for all this? Clue: It begins with tax and ends with payers.