Posted on 03/11/2023 3:47:01 AM PST by EBH
Fortunately, bail-ins do not apply to deposits under $250,000, which are protected by FDIC insurance. That is true in theory, but as of September 2021, the FDIC had only $122 billion in its insurance fund, enough to cover just 1.27% percent of the $9.6 trillion in deposits that it insures. The FDIC also has a credit line with the Treasury for up to $100 billion, but that still brings the total to just over 2% of insured deposits.
If just one or a few banks become insolvent, the FDIC fund should be sufficient to cover the insured deposits (those under $250K). But under the 2005 Bankruptcy Act, derivatives creditors (which are considered “secured”) are first in line to recover the assets of a bankrupt bank; and the Dodd-Frank Act followed that practice. So if a bank with major derivatives risk collapses, there might be no bank assets left for the non-insured creditors; and a series of major derivative cross-defaults could wipe out the whole FDIC kitty as well.
As of May 2022, according to the most recent data from the Bank for International Settlements (BIS), the total notional amounts outstanding for contracts in the derivatives market was an estimated $600 trillion; and the total is often estimated at over $1 quadrillion. No one knows for sure, because many derivatives are “over the counter” (not traded on an exchange). In any case it is a bubble of ominous size, and pundits warn it is about to pop. Topping the list of U.S. derivatives banks are J.P. Morgan Chase ($54.3 trillion), Goldman Sachs ($51 trillion), Citibank ($46 trillion), Bank of America ($21.6 trillion), and Wells Fargo ($12.2 trillion).
(Excerpt) Read more at scheerpost.com ...
Yes, I am all in for this country too.
You left out GAMERA - Global Allocation of Monetary Economics Reserve Act, which permitted putting monstrous amounts of money into Shell companies.
US CB-anksters have shunned PMs, while Russia/China/India/etc have stacked and stacked for years. India’s citizenry for example have been stacking silver.
That doesn’t mean that entities within the US are PM-less - just not associated with our FED/CB.
I believe that Fort Knox and other repositories over the years, during the reign of Cabalists (GHWB, the bent one, GWB and the Bent One) was raided and emptied. DJT restored it, and Joey has no control over it now.
When, not if, we go PM-based, this metal will resurface to monitize NESARA.
To get there, we have more pain. IMHO, that means the pain of a fiat CBDC. When that fails, all patriot Americans will welcome the end of fiat.
We have little or no control. All we can do is remember history and react in the best way for our own situation.
I am sitting here crying this morning.
We are in for a very, very hard times.
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