Does the FDIC actually have enough to even cover our deposits?
â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â BONUS CONTENT | March 17, 2023 | [Sign Up]( Dear Reader, How much money do you have sitting in your bank account right now? Would you consider it safe? How sure are you about that? Because after Silicon Valley Bank and Signature Bank failed so quickly, it’s foolish to assume that any funds are “safe” in today’s bank system. On the one hand, it’s a system that is backed and guaranteed by the Federal Deposit Insurance Corporation (FDIC) … But on the other hand … The FDIC reported that its Deposit Insurance Fund had a balance of $128 billion at the end of 2022 – about 1.27% of the total insured deposits. That’s particularly unnerving when we consider that 10% of banks have larger unrecognized losses than those at SVB – and that SVB wasn’t even the worst capitalized bank, with 10% of banks having lower capitalization than SVB. Which means a bank run could turn out to be a very scary reality… Plus, according to Financial Times, “even if only half of uninsured depositors decide to withdraw, almost 190 banks are at a potential risk of impairment to insured depositors, with potentially $300 billion of insured deposits at risk.” So again, I’ll ask you … How safe is your money? Look, here’s the thing … I don’t think the government would allow a true bank run to wipe out everyone’s funds. But I do think the end result could be worse. Much worse. Especially for investors. And while banks are the first domino to fall, ultimately, it could end with a toppled US Dollar. I’ll explain the entirety of the situation during a live training for readers on Tuesday, March 21st at 6:30 pm EST / 3:30 pm PST. It’s free to attend, just [click here to let us know you’re coming.]( I’ll see you there. So it goes, Addison P.S. Last time around, the room filled up fast. This time, we’re opening registration up a little more but it’s still first come first serve, so make sure to [click here to secure your seat]( and show up early. The Daily Missive from The Wiggin Sessions is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to The Wiggin Sessions delivering daily email issues and advertisements. To end your The Daily Missive from The Wiggin Sessions e-mail subscription and associated external offers sent from The Daily Missive from The Wiggin Sessions, feel free to [click here.]( Please read our [Privacy Statement.]( For any further comments or concerns please email us at feedback@wigginsessions.com. If you are having trouble receiving your The Wiggin Sessions subscription, you can ensure its arrival in your mailbox by [whitelisting The Wiggin Sessions.]( © 2023 The Wiggin Sessions 808 Saint Paul Street, Baltimore MD 21202. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We expressly forbid our writers from having a financial interest in any security they personally recommend to our readers. All of our employees and agents must wait 24 hours after online publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Sent to: {EMAIL} [Unsubscribe]( Consillience, LLC, Saint Paul Street, 808, Baltimore, Maryland 21202, United States