Fundamentals for USD getting worst.Well it looks like the FDIC is broke. They are seekng to borrow 500 billion from the Treasury. What happenes when that 500 billion is gone, and the next 500 billion, etc. etc. etc.
The FDIC increased the insured amount of deposits from $100,000 to $250,000 to stop a run on the US banking system. This was clearly a very dumb idea since it more than doubled their liabilities. Now they have to pay for all the bank failures and are running out of cash while this depression is just beginning. The US has no choice but to print tons of dollars to cover this, which will lead to rampant inflation down the road. The only other course is for the US government to declare itself insolvent and let the whole thing fall apart.
Goldbugs know what to do. Do you?
https://online.wsj.com/article/SB123630125365247061.html