Insured Bank Deposits At Risk, America Burns While Obama GolfsYouTube
Mar. 19, 2013
Sen. Claire McCaskill Said She Never Met Russian Ambassador -- She Attended Dinner At His House
Undercover Vid: CNN Producer Admits Russia Narrative 'Mostly Bullshit,' Pushed For Ratings
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Muslim Woman Arrested For Setting Fire To Iowa Mosque She Attended
Polish MP Schools BBC Host On Refugees: 'How Many Terror Attacks Have You Had In London?'
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!