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<p>[QUOTE=&quot;justafarmer, post: 1311241, member: 3926&quot;]You missed the point of my post. It&#039;s my fault. I am not a very good writer and in many cases fail to get my message across clearly. Let&#039;s take this from a different direction.</p><p><br /></p><p>Being that all of the dollars I have held as deposits in my bank are FRNs as YOU state. Then all of the dollars of every customer held as deposits in my bank must also be FRNs. Therefore if the above is true as You claim then my bank&#039;s reserve has to stand at 100%. That is the only amount my bank&#039;s reserve can be if what you claim is true. That is where my bank&#039;s reserve will always stand if what you claim is true. Making insurance on my deposits unnecessary. In fact risk of failure of my bank or any bank for that matter would not exist as the entire banking system&#039;s reserves would stand at 100%. The only risk of loss for depositors would be the failure of the Federal Reserve. Being that this is the entity underwriting deposit insurance what good does it do.[/QUOTE]</p><p><br /></p>

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