Thursday, March 05, 2009 7:33:11 PM · by bimboeruption · 53 replies · 591+ views
Wall Street Journal ^ | 3/5/9 | DAMIAN PALETTA
Posted on 03/04/2009 1:43:03 PM PST by Syncro
I have a bad feeling and I’m trying to “turn my brain off”. But I think we’re in for the end of life as we know it. People will do a lot of ugly things when they’re hungry. And do I really want to “prepare”. How long could we last even with stored food. We bounced back pretty good from Hurricane Ike. But I have to wonder where we would be in the electricity had never come back on.
Think about it, what if the FDIC went bankrupt, and then the Bildebergers (secret society of bankers, politicians and NWO promoters) are in control. They can close whatever bank they want, and NOONE gets their money back...just what does that mean for us, Americans? Will work for Food!!
If FDIC goes broke, and US congress does not help banks, then banks close doors taking your 401K with them...in fact if FDIC goes broke, just what is the dollar worth anyway???
ZERO!!
Was this part of Stimulus Round 1 - upping the limits to $250k and raising fees?
Bair has a strange kind of respect from the media, almost like the kind they ladled over the “women of Enron” who were hailed as whistle blowers. [Never mind that the women of Enron were very ineffective whistle blowers.] I’d watch how this is handled by the general and business press, who think she walks on water. Slowly, a couple of things will dawn on them:
1. If she was doing such a stellar job - stuff like this wouldn’t be unloaded on the industry.
2. How many years are we post S&L Crisis? Almost 20. And the FDIC does not seem to be using risk based premiums on their deposit insurance.
Government IS Broke.
With a big MINUS in it’s bank account!
It’s a secret?
take care of your FAMILY first
Our 401K’s aren’t in a bank, they’re with investment firms, but I agree with the fact that if the FDIC goes broke, they’ll print more money, and it will be worth ZERO (think Weimar Republic.)
What will stocks be worth? 401k’s will be worth nothing when the money is worth zero, and the stock market plummets to 300 and all investment companies close, insurance companies close and everything we know as a nation becomes barbaric. I’m not saying that will happen anytime soon, and we could have a comeback to say 10,000 or more on stock market (that’s not a prediction), but at some point we will have to pay the piper over this unprecedented spending, and have to pay China back....it’s unknown territory at this point, and what do they care, only bankers will have the money then in other countries.
It’s not the same article.
Disregard
“Maybe his “secret plan” is to make sure everyone goes broke, not just those in the market.........”
“It’s a secret?”
Yes it is a secret. Well it is to the masses (freepers excluded) as it’s not anywhere in the NBC/ABC/CBS NEWS.
Why, does it bother you?
There is plenty more where that came from and nobody has to make any of it up to keep it coming.
If you aren’t afraid you either never did have anything to lose or don’t anymore.
“This was already posted- how about you stop posting your alarmist fear-mongering observations”
Why shoot the FR messenger? It’s reality time...straight from the horses mouth...it needs repeatig and it should be BREAKING NEWS:
“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 [FDIC Chairman] wrote in the letter dated Monday to the chief executives of the nation’s 8,305 federally insured banks and thrifts.”
But, I’d be interested to know why I shouldn’t be alarmed or fearful?
Um ............
This is seems .............. not good.
In fact, this seems .............. bad.
And Obama is trying to talk down the markets every chance he gets! I call that treason.
They are going to throw money at it
Thanks goodness for that smokin' hot printing press (it's working overtime) and our grandchildren's taxes!Bill Seeks $500 Billion for FDIC Fund
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.