This is why I have already moved a large portion of my savings into decentralized Banks/Exchanges, namely BitShares's and StellarPort's DEXs.
Storing them as BitUSD (Bitshare's own stablecoin -- backed by the BitShares core token BTS; https://steemit.com/bitshares/@xeroc/what-makes-the-bitusd-than-nubits), and also as BTS, XLM, BTC, and other coins supported by these decentralized Bank/Exchange.And also why I hate Ripple that is supporting these massively for-profit centralised mega banks, sucking tax payers money to feed corporate welfare to enrich their top executives and CEOs. The world needs decentralized banks such as Stellar/BitShares to succeed and dominate the monopoly of these mega banks.
Supporting these decentralized banks/DEXs will also increase the market dominance of Bitcoin and other major cryptocurrencies/tokens/projects, and boost the crypto ecosystem as a whole.See the article below, from: https://www.sanders.senate.gov/newsroom/press-releases/cbo-bank-deregulation-bill-would-lead-to-more-bailoutsCBO: Bank Deregulation Bill Would Lead to More Bailouts
Tuesday, March 6, 2018
WASHINGTON, March 6 – The Congressional Budget Office estimated Monday that the Economic Growth, Regulatory Relief, and Consumer Protection Act – expected to be voted on by the Senate this week – would "increase the likelihood that a large financial firm with assets of between $100 billion and $250 billion would fail."
The increased likelihood of large financial institutions requiring taxpayer bailouts is a result of changes to how these banks are designated, which "would result in fewer assets being subject to enhanced prudential regulation," according to CBO.
"This banking bill is a disaster. The Wall Street crash of 2008 showed the American people how fraudulent many of these large banks are. The last thing we should be doing is deregulating them. As the Congressional Budget Office reported today, the bill that the Senate will be considering this week will 'increase the likelihood that a large financial firm with assets of between $100 billion and $250 billion would fail.' Why would any member of Congress vote to move us closer to another taxpayer bailout of large financial institutions? This bill must be defeated," said Sanders, the ranking member of the Budget Committee.
A 1 percent decrease in the capital-to-assets ratio for a bank can increase the probability of failure by up to 60 percent, according to research CBO relied on when producing their cost estimate.
If financial institutions failed at a higher rate than estimated, CBO predicted "the costs to the Deposit Insurance Fund (DIF) or the Orderly Liquidation Fund (OLF) would be very large."
