“If you’re so concerned about FDIC, keep your money with the big banks”
Don’t underrate FDIC so fast! In the 1980s, it was FDIC (actually another agency called FSLIC) that prevented Savings & Loan collapse from becoming a 1929. When systemic instabilities occur, a large institution is no match to US government’s full faith backing. I can well imagine Wells, BoA, Citi all going down and the world will continue, though with quite a few hiccups.
BTW, FDIC doesn’t cover “all the deposits”. There in lies the secret. It covers just enough that you don’t have to worry where you will get your next hamburger. That prevents the type of panic that caused 1929.
Also, if you don’t like FDIC for any reason, a good way to invest your cash equivalents is to directly buy Treasury instruments. Especially good in a potentially high inflationary regime are the TIPS (Treasury Inflation-Protected Securities)
