sad but true... "take care of me big daddy govt."
Imagine a global "hack" compromises bank systems. The money is gone (although they could just restore it all from last night's backup). What assets are left in the banks' and asset managers' control needs to be used for a bail-in. Peopel are fresking out about how their funds are supposed to be insured by the FDIC.
The president comes out and says, "don't worry. We have a BEAUTIFUL solution. I will be issuing everyone perfect money in a Treasury wallet for you. America is in the best shape of all the countries. Now, we can't cover everything at once, so we will be giving your money back 10% at a time over 10 years. You will be made whole. Also, we will give you an extra $5k in your wallet, which you can use for food items at great American stores like WalMart and Kroger and online at Amazon. The wallets will be issued within two weeks. In the mean time, pull together like we did during covid. We will get through this together."
I think there's a good chance of this sort of think happening in 2027 or 2028.
The president comes out and says, "don't worry. We have a BEAUTIFUL solution. I will be issuing everyone perfect money in a Treasury wallet for you. America is in the best shape of all the countries. Now, we can't cover everything at once, so we will be giving your money back 10% at a time over 10 years. You will be made whole. Also, we will give you an extra $5k in your wallet, which you can use for food items at great American stores like WalMart and Kroger and online at Amazon. The wallets will be issued within two weeks. In the mean time, pull together like we did during covid. We will get through this together."
I think there's a good chance of this sort of think happening in 2027 or 2028.
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