>>508320802 (OP)I donโt think the FDIC will insure your account in the case of the inevitable bank collapse and bail out.
As many of you know the fractional reserve requirement was reduced to 0% during covid:
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
Which means they have no money on hand.
The FDIC has been telling some banks their plans for bankruptcy arenโt sufficient:
https://www.usatoday.com/story/money/2024/06/21/fed-fdic-bofa-citigroup-goldman-sachs-jpmorgan-chase/74173224007/
There has also been unexplained closures and wiping of bank accounts:
https://www.cbsnews.com/chicago/news/chase-bank-identity-theft-mystery-250000-gone-from-accounts/
https://www.nytimes.com/2023/04/08/your-money/bank-account-suspicious-activity.html
Due to โabusesโ.
And guess what? FDIC doesnโt cover losses from cyber crime:
https://www.cfr.org/blog/no-fdic-doesnt-insure-your-bank-account-against-cybercrime-and-why-ok
And you know what one of the โbiggest threatโ to our banking system apparently is? Cyber crime from foreign actors:
https://www.investopedia.com/articles/personal-finance/012117/cyber-attacks-and-bank-failures-risks-you-should-know.asp
https://www.imf.org/en/Blogs/Articles/2024/04/09/rising-cyber-threats-pose-serious-concerns-for-financial-stability
Pay off your debts as fast as you can and try to keep $10-20k cash on hand along with some PMs (silver, gold, platinum) if you can.
Start a garden if you can, even a small garden if properly maintained can produce a lot of food. Chickens and rabbits are easy and require little space, if you have more space some goats can produce 1 gallon of milk a day and hogs require very little room and can live under tree cover.
Having food production alleviates some monthly expenditure.