FDIC is in trouble

[Hawk9955]

I"m a new subscriber Thank You for Your research and information :)

[55ella2007k]

Hawk9955: thanks for your comment and the sub :)

[cuff1944]

Great informative videos as always.

[KamikazeKoscki]

Excellent Research! 35 and now 95 banks failing, fdic down 3 quarters left of their reserves.

[PreciousOne1104]

So...What's a good bank to bank with??

[55ella2007k]

Consider going with a credit union. Other than this, keep in mind that the big banks (Chase, BOfA, WellsFargo) will gobble up the smaller banks first. Just keep enough money in there to pay your monthly bills, and not a penny more :)

[stratvic]

FDIC is like Freddie and Fannie. If they go broke the government will bail them out. If the government can't borrow the money they will print it. then it does not matter where you have your money stashed .... the value of that money will be depreciated. It is called and inflation tax. That is where anyone holding dollars or has contracted to receive dollars in the future pays. It is an insidious tax because it penalizes savers and rewards the borrowers that caused the problem. Moral Hazard!

[cv1122]

this is why I keep as little money as possible in the bank - not that I have much anyway , great post ella

[laurieannek]

All according to plan by the evil illuminated elite get ready for the fall of the dollar and the new currency the Amero.

Get right with the Lord we are living in the last days.

[PressForFreedom]

FDIC is and always was a scam, like most gov programs it's designed to make you "feel" safe. The big banks can pay it they have bailout money! It doesn't matter they won't let FDIC fail either... they will pay on all deposits, they will just print the money! Please read End The Fed by Ron Paul it reall explains how this stuff works.

[55ella2007k]

PressForFreedom: I agree with some of Ron Paul's suggestions, and thanks for recommending the book. The problem, as far as Paul is concerned, is that he's a free-market guy all the way, yet he wants to abolish the Fed, which is PRIVATELY owned? Isn't this a contradiction in terms? And why, if Paul is against most government programs, is he still a member of government? >>>

[55ella2007k]

>>> Medicare has saved milliions of the elderly + disabled from becoming destitute +yet, you believe this program useless? The reason why SS / Medicare are going broke, is precisely because of the free-market system. The funds were looted for other projects, such as tax cuts for the wealthy + defense spending. Read Greenspan's Fraud, when you get the chance. Paul had no problem with Greenspan, until the economy tanked. In fact, he supported de-regulation of the banks, and now he's complaining?

[55ella2007k]

>>> Not to be misunderstood: yes, I support Paul's stance against the financial bail-outs. I was against them as well. Paul essentially votes NO on every bill in Congress - including civil rights legislation and education. Yet, when it comes to narrow political issues, such as abortion, he tends to think that government has a role to play. If this is not an oxymoron, then I don't know what is.

[PressForFreedom]

Ron's stance on abortion and many other issues is that these are to be left to the States. I feel like I'm just defending RP here and I don't really agree with Everything he says, but I do believe he is honest and I see that as very rare. My point has always been we need honest discussion of all these issues and for that we need honest people. We can unite on certain fronts, Bernie Sanders and Ron Paul are evidence of that.

[PressForFreedom]

The people have become dependent on these programs and Ron Paul would gladly fund them through cuts in defense spending. BTW he did have a big problem with Greenspan.

[PressForFreedom]

I think if you frame Ron Pauls positions in the context of the Constitution he would make more sense to you. He doesn't vote on the basis of what he would like, he votes on the basis of does the Constitution allow it at a Federal level. The FED is not completely private BTW it is a creature of Congress. The free market would not allow legal tender laws, or allow a central authority to set rates.

[onlywhenprovoked]

GOD I hate the Boston Herald.

good ole Rupert Newscorp/FOX owns that RAG.

You have no idea how many times I have seen Bill O'Rielly write the words "leftie moonbats" in that RAG.

ok sorry - had to get that out of my system.

That was in no way meant to criticize what you were saying. Perhaps they got that whole story right... I will read it.

(did i mention that the herald is a RAG?) lol

[55ella2007k]

Thanks...OWP :) No offense taken at all :)

[RonRepublican]

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

[55ella2007k]

RonRepublican: it may interest you to know, that Marx basically shared this exact same sentiment.

[matahaari]

416 US banks failed the stress test. If we run out of money maybe we paupers will come up with a new monetary system. Seeds, anyone? A safer bet might be an independent credit union in a reasonably affluent neighborhood (check house sales/foreclosures in the area for stability).

[theracemixer]

Ella i told you 1 and half year ago not to keep your money in a bank.

1) As soon as you get paid take the money out of the bank and leave a little in the bank in case of emergency.

2) And When the bill comes you can pay it in cash.

It maybe a hassle but butter safe than sorry

[55ella2007k]

theracemixer: not to worry, I have any money in the bank, because as soon as I deposit my check, it just goes to pay the bills - so nothing stays in there for more than 2 weeks. If the dollar tanks, the cash won't help either...nor a gold buillion for that matter, because the local grocery store won't have enough change left. In an underground ecomony, you start exchanging cigarettes or booze or other shit to stay alive.

[cowboycarl04]

People still generally fail to understand that the money in the bank that you deposit IS NO LONGER YOU MONEY.

You loan the money to the bank at an interest rate that is much lower than they let you borrow it. Prior to the FDIC, if the bank failed, you lost everything.

Now, the insurance that protects us is broke. They'll need more money, which means the bank will pass it on to us.

[valhala56]

Did you guys hear that 7/11 the convience store corporation tried to negoaiter with Mastercard and Visa over onerous fees and the banks told 7/11 to take a flying fuck.

7/11 got up something like a million signatures to take to congress, but Congress is owned by the Banksters.

[FeelFreeToArgue]

Too much is going wrong at once, the FDIC is stretched too thin. It will run out of money soon.

We've already missed the point where we could "bail out" the American people. Bush made that choice, and Obama seconded it. Banks got the money with no substantive requirement that they help people in need. The govt was obviously paid off, and so there will be a soft landing for bankers.

Not so much for the people.

Good thing a lot of people didn't get mad about that.

[valhala56]

Cut up your credit cards. Even if you owe money on em. Hit em where it hurts. Don't give the banks anymore money. They are Parasites and you have to kill a parasite if you want to live. Otherwise the Parasite/Banks willl suck the life out of you.

[shuvankr]

FDIC is using the crisis as an excuse to handover whole of banking (retail and investment ) business to the big boys. The Manhattan bankers (Too big to fail) does not have the network or willingness to serve the clientèle of these regional banks. The "too small to bail" banks will be slowly gobbled by Manhattan rich and their finance cartel will achieve one of biggest dreams of the "Neo-cons". They are the new age royalty of United States of America. Sorry to bust the democracy bubble.

[wuastwais]

The whole banking system is a scam.

The savings rate is low, so how can money be so cheap?

We have a system based on debt and credit, which the fed creates. A productive economy depends on savings. A system based on credit, destroys savings and encourages borrowing against future prosperity, even as the government borrows from future generations.

Eventually the price has to be payed, and that is where we are now.

[bluecat1122]

fire up the presses Ben!

[NibiruMagick2012]

Trouble is an understatement...

[skybirdbird]

Yes......I have been waiting for this........there is no way on Gods green earth the FDIC has enough to cover "the exposure".......TKX for the post...........

[vmpslr2]

i worked security in many banks in oil rich louisiana an none of em had much cash,if its insured i guess the gov can print more,, someday

[czarwright]

just thinking out loud here, oct 1929 looks cold winter of change here again.

Peace and love =)

[justsomeoneallen]

I think it was 100 thousand dollars until recently, They were in trouble a long time ago and they will probably need some kind of bailout. Been awhile since I looked into it but I think there is a big gap in time before they have to pay you back.

[meikagirl]

Tick,Tick,Tick-Kaboom! It's only a matter of time before this Govt sponsored bubble is pricked! This bubble will end all bubbles!

[RedWhiteandBetrayed]

Thx for keeping us informed Ella....

[RedWhiteandBetrayed]

Is it bad to say I hope they all fail? I think they have to much power and Im kinda glad they are hurting. We need to get rid of big corporations, banks, Government, etc... and get back to everyone having a trade and their own small business. I dont think God meant for a man to be as wealthy as some of these freaks we have today. Power corrupts and when your corrupt you only hurt people.