The common thread in currency and bond markets is that, thanks to Trump, dollar assets — traditionally the foundation of the global financial system — are no longer perceived as safe.

Jordan Haedtler: “It is the agency that makes sure that you don’t lose all your money if your bank fails. It’s astounding that DOGE would want to weaken its capacity to fulfill that important responsibility.”
Haedtler underlined the fact that getting rid of these federal protections is not even a mainstream position in right wing circles, and is a more extreme tactic that it appears the Trump administration is pursuing.