4 ms·
yeah but if I get a 4.25% FDIC insured I’ll prefer that and take the 0.75% loss. https://www.crisesnotes.com/i-got-the-fed-to-release-its-2011-treasury-default
by AlexCornila 2y ago
yeah but if I get a 4.25% FDIC insured I’ll prefer that and take the 0.75% loss.
https://www.crisesnotes.com/i-got-the-fed-to-release-its-2011-treasury-default-playbook-heres-what-it-says-and-why-it-matters/?ref=notes-on-the-crises-newsletter https://www.crisesnotes.com/i-got-the-fed-to-release-its-201...
- dawnerd 2y agoYou can get higher than that w/ fdic too. I use wealthfront and it's been great so far. Currently 5%
- fshbbdssbbgdd 2y agoWhat’s the FDIC going to do for you when the treasuries it uses to hold its own funds are in default?
- AlexCornila 2y agoFDIC is going to return my funds defaulted treasuries are not required to do so
- fshbbdssbbgdd 2y agoAs far as I know, the US Treasury and FDIC are both under a legal obligation but either could be unable to fulfill its obligation if it lacks the funds. Under this scenario where the Treasury defaults, tons of banks will will be broken (since they keep money in the Treasury too), how will FDIC save them when its money is also tied up in treasuries?
- sam2426679 2y agoHolding t-bills means you pay neither state nor local taxes, so the net difference is likely larger than 0.75% depending on where you live.
- latchkey 2y ago5.3 FDIC https://www.viobank.com/cornerstone-money-market-savings https://www.viobank.com/cornerstone-money-market-savings