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Some Depositors Are More Equal than Othersmises.org/power-market/some-depositors-are-more-equal-others
252 sats \ 4 comments \ @Undisciplined 5 Dec econ
By Douglas French
It turns out that bank bailouts are not as equal as the state would like us to believe.
Rothbard:
“Deposit insurance” is simply a fraudulent racket, and a cruel one at that, since it may plunder the life savings and the money stock of the entire public.
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42 sats \ 0 replies \ @DesertDave 5 Dec
Not a surprise
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15 sats \ 2 replies \ @Rothbardian_fanatic 5 Dec
We knew this, already, didn’t we?
“Deposit insurance” is simply a fraudulent racket, and a cruel one at that, since it may plunder the life savings and the money stock of the entire public.“ —Rothbard
Yes, the small guy seems to be covered by FDIC, while the big guy is hung out to dry. However, it doesn’t work that way when the banks buy each other and the assets and liabilities of the defunct, bankcorrupt bank.
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20 sats \ 1 reply \ @Undisciplined OP 5 Dec
Not everyone is aware of it.
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15 sats \ 0 replies \ @Rothbardian_fanatic 5 Dec
I think that may be because TPTB don’t want people to know about this kind of racket. It would be detrimental to the operation of the ELite money operations. That is how we are kept enslaved and which BTC could be the answer to.
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