Insured Bank Deposits At Risk, America Burns While Obama GolfsYouTube
Mar. 19, 2013
French Mayor Found Guilty Of Incitement For Saying 91% Muslim Classrooms Are a 'Problem'
Red Bull Founder Starting New Conservative Media Outlet
Bill Nye Show: White People Need to Stop Using 'Asian Wallpaper,' Ruined Yoga With 'Their Lululemon Hands'
Bill Nye Show: Penalize Parents For Having 'Extra Kids' In Developed Countries
America's First Somali Lawmaker Votes Against Ending Life Insurance Payouts To Terrorists
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!