$22 Trillion in US Banking System Backed by Just $225 Billion at FDIC: Bitcoin Proponent Gabor Gurbacs

A strategy advisor at Vaneck/MVIS is highlighting the disparity between the money held at the Federal Deposit Insurance Corporation (FDIC) and the amount of money sitting in the US banking system.

Highlights

• A strategy advisor at Vaneck/MVIS is highlighting the disparity between the money held at the Federal Deposit Insurance Corporation (FDIC) and the amount of money sitting in the US banking system.
• Gabor Gurbacs examines the latest data from the FDIC – a US agency whose mission is to maintain stability and public confidence in the nation’s financial system.
• The renewed scrutiny comes amid the collapse of Silicon Valley Bank, which shut its doors after losing $1.8 billion from selling mainly US bonds that are supposed to offer banks a safe way to diversify.
• However, the price of those bonds has dropped significantly due to the Federal Reserve’s steep interest rate hikes.

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