Insured Bank Deposits At Risk, America Burns While Obama GolfsYouTube
Mar. 19, 2013
1.New York & California Move to Ban The Sale of Current iPhones Because They Protect Your Data
2.Trump is Right: GOP Debate Audience is Packed Full of Republican Donors
3.Jeb Bush Wore High Heels To Look Taller Than Trump [Pic]
4.Trump Calls Out Bush WMD Lies: 'They Knew There Were None, They Lied'
5.Feds Push New Plan For Home Visits to Check On Parents
6.Ted Nugent Replies 'Eat Me' to Critics of 'Anti-Semitic' Gun Control Post
7.VIDEO: Workers Rage After Being Told They're Losing Their Jobs to Mexico
8.Feds Pouring Money Into a Project to Create a Database to Track "Suspicious" Internet Memes
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!