Loading ...The US Banking System Is Teetering On The Brink
Listen to this whole video and specifically his explanations of what and why. Get all your money out of banks while you still can.(Probably have to do it in small multiple cash withdrawals and large purchases of bullion via wire transfers and checks.)
GREAT VIDEO. DO NOT MISS.
No words wasted here and on point.
Clear Concise and a Bombshell
Correct me ig I am wrong but when those other 3 banks Failed didn’t the fed Imply that ALL deposits in the US were now under the umbrella of the FDIC …?
Yes, without coming out and saying it, because I believe it goes against some of the Dodd Frank provisions, they have basically prevented anyone from losing, even if over the prescribed insurance limits. I think they need to avoid anything that leads to a bank run for now. When the SHTF and a collapse comes they will probably adhere more strictly to letting people lose their deposits that were above the limit. By then, those funds (at least in terms of purchasing power) probably won’t be worth much anyway.
My big take away from this video was that the balance sheet of the FDIC is $121B while the assets they insure is $10T. That is only about 1.2%. If say 2% or 3% or 5% of the banks were to fail, does that mean they would not have the funds to reimburse some of the depositors? Or would some only get a percentage of their money back?