Insured Bank Deposits At Risk, America Burns While Obama GolfsYouTube
Mar. 19, 2013
1.Trump is Right: GOP Debate Audience is Packed Full of Republican Donors
2.Government Agents Hunt Woman Down After Seeing Facebook Picture Of Her Rehabilitating Baby Squirrels
3.Florida Cops Unload On Man Holding Gun Fearing Home Invasion After Knock On Door At 1AM, Had Wrong House
4.VIDEO: Americans Express Support When Told Obama Had 'Launched A Preemptive Nuclear Strike On Russia'
5.Mandatory Mental Illness Screening and The Drive to Confiscate Firearms
6.Three Reasons to Be Worried About The Economy
7.Miami Police Retaliate Against Female Driver Who Filmed Herself Pulling Over Cop
8.Trump On Debate Audience: "They Gave Me 20 Tickets"
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!