Editor’s Note: I discussed this topic on my show today. Even though most Americans do not have a trust account with over $1.25 million in it, the way the FDIC is going about this change is truly concerning for everyone. It tells us they are anticipating more bank collapses soon. Otherwise there’s no reason for the rule change. Here are the details followed by a clip from my show…
(Discern Money)—Affluent Americans are advised to review their bank deposit insurance coverage following recent changes to Federal Deposit Insurance Corporation (FDIC) rules. These changes, implemented last month, have placed a cap on FDIC insurance for trust accounts at $1.25 million, a significant shift from the previous no-limit policy.
This adjustment aims to simplify the understanding of deposit insurance rules and expedite the determination of insured accounts in case of bank failures.
Under the new regulations, the FDIC continues to insure up to $250,000 per depositor and per account category at each bank. However, the changes affect how trust accounts are insured. Previously, each beneficiary of a trust could receive $250,000 in insurance protection, potentially insuring an “almost infinite amount” at one bank. Now, the new rule limits the number of trust beneficiaries receiving this protection to five, totaling at most $1.25 million.
Moreover, the FDIC has merged irrevocable trusts and revocable trusts into one ownership category, impacting the insurance coverage. This change could decrease coverage for some depositors but could also increase coverage for a small number of irrevocable trusts. The FDIC estimates that nearly 27,000 trust account depositors and over 36,000 trust accounts could be directly affected by these changes.
To ensure that your deposits are fully insured, use the FDIC’s Electronic Deposit Insurance Estimator to determine if any of your funds exceed the new coverage limits. If you find that some of your money is now uninsured, consult your bank. Financial institutions are typically ready to assist customers affected by these regulatory changes to ensure that large deposits remain protected. You may need to open a different type of account or deposit the uninsured sum in an account at another bank to maintain full insurance coverage.
Article generated from corporate media reports.
Independent Journalism Is Dying
Ever since President Trump’s miraculous victory, we’ve heard an incessant drumbeat about how legacy media is dying. This is true. The people have awakened to the reality that they’re being lied to by the self-proclaimed “Arbiters of Truth” for the sake of political expediency, corporate self-protection, and globalist ambitions.
But even as independent journalism rises to fill the void left by legacy media, there is still a huge challenge. Those at the top of independent media like Joe Rogan, Dan Bongino, and Tucker Carlson are thriving and rightly so. They have earned their audience and the financial rewards that come from it. They’ve taken risks and worked hard to get to where they are.
For “the rest of us,” legacy media and their proxies are making it exceptionally difficult to survive, let alone thrive. They still have a stranglehold over the “fact checkers” who have a dramatic impact on readership and viewership. YouTube, Facebook, and Google still stifle us. The freer speech platforms like Rumble and 𝕏 can only reward so many of their popular content creators. For independent journalists on the outside looking in, our only recourse is to rely on affiliates and sponsors.
But even as it seems nearly impossible to make a living, there are blessings that should not be disregarded. By highlighting strong sponsors who share our America First worldview, we have been able to make lifelong connections and even a bit of revenue to help us along. This is why we enjoy symbiotic relationships with companies like MyPillow, Jase Medical, and Promised Grounds. We help them with our recommendations and they reward us with money when our audience buys from them.
The same can be said about our preparedness sponsor, Prepper All-Naturals. Their long-term storage beef has a 25-year shelf life and is made with one ingredient: All-American Beef.
Even our faith-driven precious metals sponsor helps us tremendously while also helping Americans protect their life’s savings. We are blessed to work with them.
Independent media is the future. In many ways, that future is already here. While the phrase, “the more the merrier,” does not apply to this business because there are still some bad actors in the independent media field, there are many great ones that do not get nearly enough attention. We hope to change that one content creator at a time.
Thank you and God Bless,
JD Rucker
