Maybe the fed should open a bank for deposits that's guaranteed but provides either tbill interest or zero interest.
It's pretty ridiculous for people to need to judge whether their bank is fiscally sound.
It's pretty ridiculous for people to need to judge whether their bank is fiscally sound.
> It's pretty ridiculous for people to need to judge whether their bank is fiscally sound.
This is a great idea. We should look into this more.
iirc three researchers asked this same question back in 2018.
> A potential policy recommendation was posed in 2018 by three researchers, two of whom worked in the Treasury Department. Under their proposal, the Federal Reserve would offer the option to all individuals and businesses in the United States to open a bank account, termed a “Fed Account,” with the Federal Reserve itself, providing an alternative to private banks or credit unions. Such an option could have significant effects on a wide array of monetary and economic issues.
https://econreview.berkeley.edu/fed-accounts-and-the-right-t...
If you operate in 1% space of wealth there are and should be risks. Making everything the lowest common denominator literally leaves us with Camacho for president.