Comments by "Joe Swanson" (@joeswanson733) on "Bank Collapse 2023 Bailout and Fed | First Republic + Silicon Valley Bank" video.

it's simple folks the FDIC only has around 2% of all deposits covered. so around 390 billion out of 19.5 trillion in us deposits. these 3 banks that failed (silver gate, synergy, SVB) that were made known to us publicly if they're all allowed to drop completely would wipe out at least half the FDIC funds in a drop of a dime. now they're trying to contain or prevent some kind of cascade failure but if the failures were just these 3 banks alone and all other banks are fine and it would noly deplete 50% of the FDIC funds why is the government freaking out over this? are those tech startups or tech companies that weren't able to make payroll if they couldn't get their money would lead to even bigger ripple effects?
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difference is back in the 1930s the us was on the gold standard and they used the great depression as a excuse to ban the ownership of gold by companies and private citizens. since we're not on a gold standard they have no legal basis to ban the ownership of gold. it was unconstitutional then (executive order 6102) it would be unconstitutional today
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@richardventus1875 of the us were to be back on a gold standard , there are 2.05 trillion USD in circulation just currency, if we use global GDP at 85 trillion of all Valued in USD , there are 208,874 tons of gold in the world equal 6.683 billion oz it would be at least $12718 per oz but this is if we use all gold on the world to back all the GDP in the world in usd , if we just use how much gold is in the usa it would be $89,178 per oz to back thr us gdp. The us has 261,498,926 oz of gold
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