Yes, if the FDIC were eliminated, it could indeed lead to a situation where people might be less inclined to trust banks with their savings. This could encourage a shift toward cash or other alternative forms of storing wealth, like gold or cryptocurrencies.
Wouldn’t this lead us to a cash based society since I can no longer trust the banks to have my money?
Yes, if the FDIC were eliminated, it could indeed lead to a situation where people might be less inclined to trust banks with their savings. This could encourage a shift toward cash or other alternative forms of storing wealth, like gold or cryptocurrencies.