The FDIC attempts to universalize risk in banking. Regardless of whether or not you even deposit money in a financial institution, whether or not you discriminate between different banks and the practices thereof, we are forced into subsidizing risk through government deposit insurance. The FDIC normally guarantees deposit insurance up to $100,000, while the insurance [...]
I often refer to the Federal Reserve as a secretive and dangerous agency, but many people don’t understand what I’m specifically talking about. Publicly, the Fed participates in hearings in Congress, and it generally seems accountable to the President and Congress. Few understand there is information that Congress and the American people are prohibited to [...]
