|
Insured Bank Deposits At Risk, America Burns While Obama GolfsYouTubeMar. 19, 2013 |
Popular 
House Passes NDAA With Section 219 Aimed at 'Merging' U.S. and Israeli Militaries
Sen. Graham Worked With Israeli Officials to Push GOP Senators to Pass Aid Package, Amb. Reveals
Netanyahu Confirms Plan to 'Merge' U.S. and Israeli Militaries
Mark Levin Flying to Israel as Netanyahu Reportedly Seeks to 'Leverage' Levin to Trash Trump's Iran Deal
Sen. Lindsey Graham Dead at 71
 What happens in Cyprus doesn't necessarily stay in Cyprus. The media says it can't happen here but it can. If several major U.S. banks failed, trillions of deposits would be at risk, including hundreds of billions insured by the FDIC. However, the FDIC barely has any reserves to cover the potential losses. A bigger bailout than TARP would be required to bailout depositors. Where would the government get the money? If the Fed prints it, deposits would lose a much larger percentage of their value to inflation than Cyprus depositors are paying in deposit taxes! 
|
