Ross Gerber: Don’t Trust Bitcoin? ‘FDIC Is A F!%&*$g Fantasy’

Ross Gerber sharing some gems here, his rant on the FDIC and US govt is spot-on!

https://decrypt.co/70115/ross-gerber-dont-trust-bitcoin-fdic-fantasy

Ross Gerber, CEO of wealth management firm Gerber Kawasaki, which announced in March it would help clients buy and manage cryptocurrency via Gemini exchange, said the trust in the almighty dollar—and fear in crypto as risky—is misplaced. In his view, the Federal Deposit Insurance Corporation (FDIC), which insures customers’ holdings in traditional banks and credit unions, is weak. “The FDIC went bankrupt in the financial crisis,” said Gerber. “The FDIC doesn’t exist. That’s a fucking fantasy. Rule number one: Any promise the US government makes is a fantasy. We don’t have any money, we have a trillion in debt. So with the banks gone or [if] JP Morgan goes under, FDIC covers 0% of it.”

Master Asked on May 6, 2021 in Bitcoin.
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