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Part 1: Pomp On Balaji's 90 Day Bitcoin Bet, Digital Catastrophes, And Failing Banks
My First Million
Getting the F Out of the US
The FDIC does not have enough money to backstop every bank in America. Most Americans don't know that if you go and you deposit your money in the bank, it's not your money anymore. The lack of financial education of the average American is astonishing. And so yes, there's FDIC insurance that covers up to 250k. Like there's all these different things. But if you go look right now, like the FDIC does Not have Enough Money to Backstop Every Bank in America. It's like going to 108 billion. I think they use 20 or something.
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