What's going to happen if a bank collapses?

People have been asking this question.

So one of the first things that's going to happen is the FDIC insurance would kick in only if you have deposits that are under the amount of $250,000.

If you don't, that amount above is not going to be covered.

Now, before a bank can get a government bailout, the government is going to have them do what's called a bail in.

And that means the bank legally keeps all of the deposits and says, hey, we cannot give you your money because the banks are using it to stay solvent.

So you can see in 2011, when the European financial collapse happened in Greece, they were limiting people to withdrawals of $25 a day from their checking account.

Even if you had more.

The bottom line is you've got insurance there.

If you're over $250K, it's not going to cover.

There's only enough money to cover about 2% of deposits with FDIC insurance anyway.

So if a large scale bank failure happened across the country, the money's simply not there.

Government bailouts will happen.

You will lose your deposits and taxes will go up.

Hope you enjoy this video!

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Jerry Fetta


Jerry Fetta is the CEO and Founder of Wealth DynamX. He is a nationally recognized financial expert featured in Forbes, Yahoo Finance, Fox, Chicago Weekly News, New York Finance, interviewed on over 80 podcasts with world renowned experts, earning endorsements and affiliations throughout his career with names like Kevin O'Leary, Grant Cardone, Dave Ramsey, and Pamela Yellen.


Jerry’s mission in life is to help create millions of financially educated and solvent families achieving greater financial freedom and sharing the truth about money with those around them.


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(DISCLAIMER: The information in this content should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Wealth DynamX can and does not provide advice unless/until engaged by you.)

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