Insured Bank Deposits At Risk, America Burns While Obama GolfsYouTube
Mar. 19, 2013
Guardian Front Page: "A 16-Year-Old Migrant Cries..."
FACT CHECK: Hillary Said 90% of Clinton Foundation Donations go to Charity. Actual Number? 5.7%
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WATCH: Hillary Aide RUSHES to Her Side to Help Her Climb ONE Step!
Homeless Woman Protects Trump's Walk of Fame Star From Violent Leftists
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!