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Article posted Mar 19 2013, 11:20 AM Category: Economy Source: YouTube Print

Insured Bank Deposits At Risk, America Burns While Obama Golfs



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!





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Comments Add Comment Page 1 of 1
Anonymous

Posted: Mar 19 2013, 5:37 PM

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173242 "America burns". I say let it burn, baby, burn.


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