Posted on 09/10/2013 9:15:36 PM PDT by TexGrill
WASHINGTON, Sept. 10 (Xinhua) -- The U.S. Federal Deposit Insurance Corp. (FDIC) on Tuesday approved a final rule stipulating that deposits in foreign branches of American banks are not covered by the FDIC.
The purpose of the rule is to ensure the U.S. will not become " a potential global deposit insurer", said FDIC in a statement.
Deposits in foreign branches of U.S. banks have doubled since 2001 and total approximately one trillion U.S. dollars now, according to U.S. official data.
"The final rule protects the Deposit Insurance Fund, while at the same time both the FDIC's commitment to maintaining financial stability through the prompt payment of deposit insurance and the evolving nature of the global banking system," said FDIC Chairman Martin Gruenberg.
(Excerpt) Read more at news.xinhuanet.com ...
Interesting.
Thanks for the tip.
C’mon guys, smarten up. You want those deposits at your disposal.
Why? When the time comes to pull a ‘Cyprus’ on the Americans and steal part or even most of their deposits for a forced ‘bail-in’, you can include those brances overseas! That’s hundreds of billions of cash the authorities would not have otherwise gotten their hands on. Get it?
If you’re going to steal...do it big.
Yup. A bank is just an ATM for me to grab cash, nothing else. savings? LOL!
Been investing a LOT of my money in alcohol, cause when a crash hits alcohol will have GREAT intrinsic Value!
And some of it gets “better” with age...
Are they not stating by their actions that they see the collapse coming?
An American bank is an American bank! This is the crap one expects of a banana republic.
Been investing a LOT of my money in alcohol, cause when a crash hits alcohol will have GREAT intrinsic Value!
I have a buddy who has bought hundreds of 1/2 pints of vodka and bourbon for bartering.
I have a buddy who has bought hundreds of 1/2 pints of vodka and bourbon for bartering
yup it is good stuff for that, also good for use as an anti-septic and m-cocktails and just getting drunk as hell when everything has hit the fan and one just doesn’t give a crap no more.
LOL!! Cheers.
You’re always welcome down here in La Plata county.
Very well put. People need to put this all together, because they are dribbling it out one piece at a time.
- The IRS claims income from Americans wherever it is earned around the world.
- Many foreign banks will now no longer deal with Americans due to reporting requirements back to the US gov.
-Safe deposit box users are being warned not to keep cash in the boxes.
-Cypres and Poland test out "bail in" (no revolution yet so full speed ahead.)
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