FDIC Could Become Insolvent This Year
- Thread starter MrDODGE
- Start date
That's just great. So we have three choices:
A: Keep on going like we are and let the FDIC fail, leading to bank runs
B: Raise fees on banks, which makes banks more likely to fail, which leads to the FDIC failing, which leads to bank runs
C: Drop FDIC insurance on the weak banks
So it's probably not a good idea to have money in a bank that is a penny stock, depending on who the government picks to bail out.
A: Keep on going like we are and let the FDIC fail, leading to bank runs
B: Raise fees on banks, which makes banks more likely to fail, which leads to the FDIC failing, which leads to bank runs
C: Drop FDIC insurance on the weak banks
So it's probably not a good idea to have money in a bank that is a penny stock, depending on who the government picks to bail out.
I think we have about a 75% probability of at least one bank run this year (nationwide run on multiple major banks). :eek:
FDIC could NEVER handle a run like that......so it would be even more "print money" time. :eek:
This of course would then bring in a FED directed reactionary forced "banking holiday" of 3 to 7 days......WHAT FUN! :eek:
No ATM's.....No Debit Card/Credit Card transactions.....No bank withdrawals.....No ACH.....No nothing! If you did not have cash on hand when this type of event took place you would be &^^$%#$$%%^&^!!! :eek:
FDIC could NEVER handle a run like that......so it would be even more "print money" time. :eek:
This of course would then bring in a FED directed reactionary forced "banking holiday" of 3 to 7 days......WHAT FUN! :eek:
No ATM's.....No Debit Card/Credit Card transactions.....No bank withdrawals.....No ACH.....No nothing! If you did not have cash on hand when this type of event took place you would be &^^$%#$$%%^&^!!! :eek:
BTW, 100 billion will in no way cover a nationwide bank run......not even close. 
www.youtube.com/watch?v=-xKPcyvlfnc&feature=related
http://www.infowars.com/rep-kanjorski-550-billion-disappeared-in-electronic-run-on-the-banks/
www.youtube.com/watch?v=-xKPcyvlfnc&feature=related
http://www.infowars.com/rep-kanjorski-550-billion-disappeared-in-electronic-run-on-the-banks/
Infuckingcredible! Is the government intentionally trying to collapse the banking system?
CNBC's Maria Bartiromo interviewed BOA Ken Lewis in Sept 08 and here is Lewis' startling back of the envelope assessment.
"BARTIROMO: SO RIGHT NOW WE HAVE, WHAT, 9,000 BANKS? 9,000 BANKS IN THIS COUNTRY.WHAT WILL YOUR PREDICTION BE AS FAR AS HOW MANY THERE ARE IN THE NEXT FIVE YEARS?
LEWIS: GOSH, I HAVEN'T THOUGHT ABOUTTHAT. MAYBE HALF. "
Source: http://www.cnbc.com/id/26728058/
"BARTIROMO: SO RIGHT NOW WE HAVE, WHAT, 9,000 BANKS? 9,000 BANKS IN THIS COUNTRY.WHAT WILL YOUR PREDICTION BE AS FAR AS HOW MANY THERE ARE IN THE NEXT FIVE YEARS?
LEWIS: GOSH, I HAVEN'T THOUGHT ABOUTTHAT. MAYBE HALF. "
Source: http://www.cnbc.com/id/26728058/
And we should listen to Lewis why?
I agree that he's sorta the expert, but he has since demonstrated some significant flaws in his analytical and decision-making capabilties. As a result I try not to attach too much weight to his opinions and actions.
