Elon Musk’s Advice to Stop Bank Runs

Elon Musk’s Advice To Stop Bank RunsElon Musk Suggests This To Stop Bank RunsMarch 18, 2023Twitter and Tesla Chief Elon Musk has been actively tweeting about the collapse of US banks.Replying to Washington oped, Musk wrote that FDIC needs to change to unlimited coverage to stop bank runs.Elon Musk also advised the Treasury to stop issuing ridiculously high yield bills.Treasury needs to stop issuing ridiculously high yield bills, such that it makes no sense to have money in a low interest rate bank “savings” account. Right now, Musk added.Three major US banks collapsed within a week from each other, sending the entire economy in a downward spiral.As reported earlier, JPMorgan predicted that the Federal Reserve could inject as much as $2 trillion into US banks to ease liquidity crunch.Several economists have predicted that more major banks could go down soon.More Crypto Stories...