Last week, the government came out and said that all bank accounts in the United States will be covered, no matter how big they are. Essentially, we are being told that a $120 billion insurance plan from the FDIC can handle $122 trillion in bank deposits. Obviously, that math does not add up. The amount of inflation that is going to be created by the bailout regime that is currently in office, where nobody is allowed to fail, puts us on the direct pathway to capitalism.
There is no such thing as a free lunch, so this is an obvious topic of serious concern. In this segment from The Financial Physician, host Lou Scatigna, CFP® provides guidance on how you can financially protect yourself during these troublesome times.