bank run imminent as FDIC drops dec 31

[Large Sarge]

http://www.silverdoctors.com/us-bank-run-imminent-as-fdic-expanded-deposit-insurance-ends-dec-31st/

[Hatha Sunahara]

When you have fiat money, and Too Big To Fail banks, the idea of a bank run is ludicrous. Reserves are worthless and banks don't need them any more. The government and the TBTF banks are following the Neoliberal Economics strategy of Privatize the gains, socialize the losses. There is no organized resistance to this yet because people can't see it. The Fiscal Cliff is a euphemism for Austerity. The language they use is designed to hide what is really going on.

Why is the discussion about not bailing out the TBTF banks off the table? Let them fail. Bankruptcy is specifically for this purpose. Once the TBTFs fail, we have no more crisis. All the secession petitions are because the government wants the people to pay to keep the crooked banks alive.


Hatha

[Neuro]

Lets just assume, that only the bottom 95% of PEOPLE, would be bailed out in a bank bankruptcy, on average they probably have less than a thousand dollar balance. Even if all banks of US collapsed, that would cost the FDIC less than $300 Billion. It is not a huge sum to be printed. The 5% that wouldn't get bailed out, probably would have other assets to fall back on. Lets get rid of the banking scourge. It only benefits the very few thiefs at the top.

[Ponce]

I only keep in the bank what is needed to pay my monthly bills........

[Carl]

Lets just assume, that only the bottom 95% of PEOPLE, would be bailed out in a bank bankruptcy, on average they probably have less than a thousand dollar balance. Even if all banks of US collapsed, that would cost the FDIC less than $300 Billion. It is not a huge sum to be printed. The 5% that wouldn't get bailed out, probably would have other assets to fall back on. Lets get rid of the banking scourge. It only benefits the very few thiefs at the top.

Currently, the banks are holding $6,454 billion in promises to pay as people's savings accounts and $913 billion promises to pay in people's demand deposits.

The current reserves of the FDIC are at $12 billion promises to pay.

If there are any bank runs, no one is going to get paid.

[Neuro]

Currently, the banks are holding $6,454 billion in promises to pay as people's savings accounts and $913 billion promises to pay in people's demand deposits.

The current reserves of the FDIC are at $12 billion promises to pay.

If there are any bank runs, no one is going to get paid.
Deduct what the people owe to the banks and deduct what the top 5% has in bank accounts, and I am sure it would be less than 300 billion dollars, FDIC could just get that straight from the printing press. Just let the fucking banks collapse!

[General of Darkness]

Here's a question. What would one do who's sitting on way to many dollars?

[mamboni]

Hatha is right. The banks don't need reserves. The system is pure fiat and maoney is created on the string. The FED will always backstop the banks. Physical currency could become scarce as it's supply is limited. But electronic money and credit are unlimited. The FED is pushing on a string.

[Libertytree]

Here's a question. What would one do who's sitting on way to many dollars?

How bout buying some farm land in Colorado and go into hemp farming? Game?

[Neuro]

Here's a question. What would one do who's sitting on way to many dollars?
DYoDD!

[mick silver]

when and if a bank run was to happen a new way to bank would come into place and the chip in the arm would be there in place of paper that way they can get there tax money alot easer

[Hatha Sunahara]

Here's a question. What would one do who's sitting on way to many dollars?

Buy as much silver as you can. Then use the rest to buy gold, and farmland, and other physical commodities.


Hatha

[sirgonzo420]

Here's a question. What would one do who's sitting on way to many dollars?

Spen' dem bitchez!

[singular_me]

I know the bank run has been hanging in the air for a while BUT that doesnt mean that January 1st the bank run will occur.

PS: I was hoping that the system wouldnt collapse before next spring as my van needs extra small repairs.





http://www.silverdoctors.com/us-bank-run-imminent-as-fdic-expanded-deposit-insurance-ends-dec-31st/