thx1138
02-29-2008, 09:38 PM
Near Collapse: FDIC only has $52 Billion to insure $4.2 Trillion in Deposits!
FFDIC only has $52 Billion to insure $4.2 Trillion in Deposits - Bank Reserves: MINUS $18 Billion - TAF increased to $60 billion loaned to near insolvent Banks by the Feds...
Chart Link: http://bp1.blogger.com/_nSTO-vZpSgc/R57ax-UG3EI/AAAAAAAAB_0/LoeoDxkgXCs/s1600/non-borrowed-reserves.png
FDIC only has $52 Billion to insure $4.2 Trillion in Deposits - Bank Reserves: MINUS $18 Billion - TAF increased to $60 billion loaned to near insolvent Banks by the Feds...
http://www.federalreserve.gov/releases/h3/Current/
The approximately $41 billion in reserves that the US banks used to have on their books are now provided by the Term Auction Credit (TAF) to the tune of $60 Billion, without which the banks would be insolvent: when the run on banks begins, only 1 customer in 20 may get some money, if lucky...
The FDIC Bad Joke: only $52 Billion Fund - not all of it liquid and available - to PROTECT/INSURE $4.2 Trillion Deposits = 1.22% Ratio, or 1.2 cents on the Dollar...
The FDIC may protect your deposits in times of average financial failures, BUT don't count on it in the expected Financial Melt-Down: for more information, click on the 2007 FDIC Annual Report in the link below...
file:///C:/FDIC/Financial%20Reports.htm
The article on the inadequacy of the FDIC reserves linked below uses older figures, but its conclusion could not be any clearer...
"The bottom line is this: your bank accounts are insured unless there is a banking crisis. Then, you must hope for the best."
http://www.garynorth.com/public/91print.cfm
There truly is very little now separating your money on bank deposits or in brokerage accounts and the Abyss that will open wide when the first Banks officially go belly up, since they're now mostly insolvent and the FDIC will be useless...
FFDIC only has $52 Billion to insure $4.2 Trillion in Deposits - Bank Reserves: MINUS $18 Billion - TAF increased to $60 billion loaned to near insolvent Banks by the Feds...
Chart Link: http://bp1.blogger.com/_nSTO-vZpSgc/R57ax-UG3EI/AAAAAAAAB_0/LoeoDxkgXCs/s1600/non-borrowed-reserves.png
FDIC only has $52 Billion to insure $4.2 Trillion in Deposits - Bank Reserves: MINUS $18 Billion - TAF increased to $60 billion loaned to near insolvent Banks by the Feds...
http://www.federalreserve.gov/releases/h3/Current/
The approximately $41 billion in reserves that the US banks used to have on their books are now provided by the Term Auction Credit (TAF) to the tune of $60 Billion, without which the banks would be insolvent: when the run on banks begins, only 1 customer in 20 may get some money, if lucky...
The FDIC Bad Joke: only $52 Billion Fund - not all of it liquid and available - to PROTECT/INSURE $4.2 Trillion Deposits = 1.22% Ratio, or 1.2 cents on the Dollar...
The FDIC may protect your deposits in times of average financial failures, BUT don't count on it in the expected Financial Melt-Down: for more information, click on the 2007 FDIC Annual Report in the link below...
file:///C:/FDIC/Financial%20Reports.htm
The article on the inadequacy of the FDIC reserves linked below uses older figures, but its conclusion could not be any clearer...
"The bottom line is this: your bank accounts are insured unless there is a banking crisis. Then, you must hope for the best."
http://www.garynorth.com/public/91print.cfm
There truly is very little now separating your money on bank deposits or in brokerage accounts and the Abyss that will open wide when the first Banks officially go belly up, since they're now mostly insolvent and the FDIC will be useless...