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FDIC Insolvent!?!

December 3rd, 2011 | 20 Comments

How on earth is this not the biggest story in the news today? Hurricane Ike pales in comparison to the failure of the guarantor of the US (and world) banking system. WSJ article: online.wsj.com Music: Militaire Electronic : Kevin MacLoed (extro)

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Filed under: Insolvency · Tags: FDIC, insolvent

20 Responses to "FDIC Insolvent!?!"

1. bass109 says:

   December 3, 2011 at 11:55 am

   Jesus is king of kings and lord of lords

   Reply
2. kensho3 says:

   December 3, 2011 at 12:02 pm

   2nd quarter fdic statement comin’ tomorrow…! That’s All, Folks!

   Reply
3. jc7622 says:

   December 3, 2011 at 12:54 pm

   I was under the impression that they only had enough to cover 7% of the insured amounts. In years past this would have been more than enough. Now…the same rules don’t apply. I don’t dbout anything could happen any more. The rules have changed. I suppose they could borrow money from the Fed or whoever if they had to, but isn’t that just increasing the money supply even more???

   Reply
4. rapidrex says:

   December 3, 2011 at 1:40 pm

   I wonder when the run on the banks will begin in earnest?
   Make certain to buy some gold in small denominations…broken down small. You should have about 20 percent of your total assets in gold and or silver.

   Reply
5. fishysims says:

   December 3, 2011 at 2:16 pm

   Personally though I trust the banks more than I trust myself. I actually feel safer not having cash on me because if for some reason I loose my wallet I dont loose all my money with it.

   Reply
6. fishysims says:

   December 3, 2011 at 2:21 pm

   Ouch guess I should get all my money in cash so that I will have it when I need it.

   Reply
7. flubno says:

   December 3, 2011 at 2:27 pm

   The banksters are a bunch of Jive Turkeys. Get your money out or else they might steal it from you one day. Who cares about there one percent interest rate anyway.

   Reply
8. magic038 says:

   December 3, 2011 at 3:11 pm

   “A house of cards!!”

   Reply
9. wogsland says:

   December 3, 2011 at 3:39 pm

   Fractional Reserve banking is the real root of the problem though…

   Reply
10. proffmongo says:

    December 3, 2011 at 3:59 pm

    It’s a Wonderful Life but without Jimmy Stewart!!!!

    Reply
11. luvdabun says:

    December 3, 2011 at 4:47 pm

    so my pennies that I have been saving are safe as long as I keep them in the piggy bank, not the real one?
    bunnies rule!

    Reply
12. boobtubious says:

    December 3, 2011 at 5:42 pm

    The whole system needs to be overhauled, and the government needs to keep their hands out of it in my opinion.

    Reply
13. 420smokeymcpot says:

    December 3, 2011 at 6:18 pm

    i wonder if you predicted this in your video saying they are going to give too much money out

    oh yeah, you did

    Reply
14. wogsland says:

    December 3, 2011 at 7:02 pm

    Oh no, I had forgotten to put it there and you reminded me. Thanx!

    Reply
15. mcurren2004 says:

    December 3, 2011 at 7:44 pm

    No pattern, of course?!

    Reply
16. daicopoulos says:

    December 3, 2011 at 8:01 pm

    The tip of the iceberg my friend. We will recover again over the next 12 – 18 months; but when everyone gets complacent again…I am fearful of how bad it will get.

    No immunity over here in Australia, though many think we are, but the housing crisis is nasty.

    Reply
17. sonicflyingmachine says:

    December 3, 2011 at 8:05 pm

    Thanks and sorry. I thought I looked there.

    Reply
18. wogsland says:

    December 3, 2011 at 8:28 pm

    Done. (See WSJ article in sidebar)

    Reply
19. sonicflyingmachine says:

    December 3, 2011 at 8:37 pm

    Interesting. Can you give me a link to this article or something to substantiate what you’re claiming?

    Reply
20. huntersmith22 says:

    December 3, 2011 at 8:54 pm

    cool video man!

    Reply

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