>>This much stupidity doesn’t happen by accident.
Observe this photo of the Ameriquest Sub-Prime Rainbow Blimp - hung with PRIDE in the Ameriquest Corp. HQ office:
Proud Predators of the American Dream
Got Moral Relativism?
Posted on 03/04/2009 11:45:13 AM PST by txmissy
WASHINGTON — The head of the Federal Deposit Insurance Corp. has warned that the fund insuring Americans’ bank deposits could be wiped out this year without the money the agency is seeking in new fees from U.S. banks and thrifts.
FDIC Chairman Sheila Bair acknowledged, in a letter to bank CEOs, that the new increased fees and hefty emergency premium the agency voted to levy last week will bring a “significant expense” to banks, especially amid a recession and financial crisis when their earnings are under pressure.
“We also recognize that assessments reduce the funds that banks can lend in their communities to help revitalize the economy,” Bair wrote.
But given the accelerating bank failures that have been depleting the deposit insurance fund, she said, it “could become insolvent this year.”
“Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative,” Bair wrote in the letter dated Monday to the chief executives of the nation’s 8,305 federally insured banks and thrifts.
(Excerpt) Read more at chron.com ...
Ok - so then you will go to your local bank and withdraw cash. I understand now (it’s been a long day).
End game
Are most registered or unregistered? Do you declare interest to Uncle? Can you point me to a reliable website to read up on this so I can quit bugging you :=}.. Thanks again for the information
One more link in the chain giving way.
Tin foil hat secured....add me to that ping list ;0)
pin ping ping
“Cash will be king”....look at Zimbabwe...they had so many zeros on their currency notes, they just had to reprint it with a Z (Zillion) in front of the note value AND they printed an expiration date on it! Paper is just a promise backed by gold which we are short of.
Could you explain that in simpler terms for those of us who need to be educated? Thanks in advance.
I have Bad news, good news and bad news:
Bad news: This is the worst kept secret since the Bay of Pigs invasion. It’s always been known that the FDIC doesn’t have enough in reserves to cover a catastrophic string of bank failures.
Good news: The printing press in Washington DC will cover for them and bail them out.
No need to rush to the bank to redeem your money.
Bad news: You might need a wheel barrow to carry your dollar bills to buy a loaf of bread.
How much is farmed? Barter will be the new standard, and time (work effort) will be traded for goods, not cash. Cash will be going the way of Zimbabwe...
The Democrats must think that by destroying our nation, they can gain control in perpetuity. That is insurrection to my way of thinking.
Thanks Kimberly.
There you go, trying to spoil a good frenzy by injecting some facts.
Next thing you know, someone will want to replace the headline here: “FDIC warns of insolvency”
with the one actually found at the link: “FDIC’s Bair warns on bank deposit insurance fund”
Has there been a time in our history since the revolution and declaration of independence, where good citizens have been more pissed off at our leaders? I doubt it.
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