Unlikely unless Trump crashes the bond market by refusing to honor treasuries. If that happens a lot of banks will be underwater in assets.

When the government tells you that you can't trust the government, you better believe them.

1. Tariff-taxes increase inflation.
2. Declining supply of cheap foreign goods cause consumer price index increases.
3. Federal Reserve Board increases federal fund rate to try to decrease inflation.
4. Stock market bubble collapses.
5. Real estate market declines as owners try to get out of "investment property".
6. Banks start foreclosure on many no-pay mortgages.
7. Without mortgage payments coming in, banks become insolvent.
8. A few weak banks go bankrupt, leading to a massive run on all banks.

...

9. Profit.

He's already made a few "casual" remarks about ending the FDIC. That would crash them pretty quickly.

https://www.cnn.com/2024/12/18/business/fdic-trump-bank-regulation/index.html

I don't know, but I'm gonna get my money out first thing Monday morning just in case /j

I'm not saying it's likely.

I AM saying that you can get a Canadian bank account that holds your money in US dollars.

FYI the photo on this post is from a bank run in the UK

Majority of banks a private companies.

SLPT: But yeah go ahead and take everything out. Let everyone know on social media too. 👍

It's good to be informed and make education decisions I just hope vulnerable people don't make dumb decisions.

how many times have you withdrawn your entire balance in a suitcase or whatever

About zero chance in the US. But certainly doesn't hurt to have some cash.

Not very likely, at least not yet. Ask again in 3 months.

Wow if they fiddle with FDIC I'd pull my cash out asap if I had an American account.

Basically if a bank collapses after FDIC gets messed with only the richest will be able to get money back. Average Joe's will loose everything in the account.

We saw a bit of this with the silicon valley bank fiasco. That's with protections in place. Without it good luck buying eggs ever again. It's going to make bread lines in the soviet union look like a good time.

Not sure really, but probably best to go an remove all your money now just in case! I bet hundreds of people are doing the same thing! /s