Posted on 08/22/2012 1:33:08 PM PDT by Kartographer
Just following up with citations and illumination on the whole propaganda meme that is the FDIC, because, as far as I can tell, the vast majority of people think that the FDIC is a magical, omnipotent entity that has infinite resources and will magically swoop in to "take care of them" like a magic flying unicorn. This is what happens when you have a civilization filled with emotional children with exactly ZERO critical thinking skills. You have to hand it to the Communist infiltrators. That did a damn good job of brainwashing and psychologically destroying four generations of human beings.
Per the Q4 2011 FDIC Chief Financial Officer's report to the Board, published on March 30, 2012, the FDIC's Deposit Insurance Fund had a balance of $11.8 billion dollars.
(Excerpt) Read more at barnhardt.biz ...
With our back up against a fiscal cliff I don’t see it. The money has to come from somewhere and pretty soon borrowing it won’t be and option.
It's not the same magnitude. We're talking the mother of all bank runs as investors all over the world flee US banks.
I've very little trust in our Federal Government....
Then you have more than I do:) Fedgov can be trusted to act in its own interest, and a bank run of that size would be disastrous to it.
JP Morgan:
Total Assets $1.8 TTT
Total Derivatives Exposure: $78 TTT
Citibank:
Total Assets: $1.2 TTT
Total Derivatives Exposure: $56 TTT
Bank of America:
Total Assets: $1.4 TTT
Total Derivatives Exposure: $53 TTT
Top 25 commercial banks:
Total Assets: $8.3 TTT
Total Derivatives exposure: $249 TTT
If Europe crash and burns as it’s more than likely to, then the loss in derivatives will be a might blow to these banks.
I agree, but such an event would not be confined to the FDIC. I just don't see a scenario where the FDIC defaults, but the dollar and treasuries are intact.
If you don’t have it and you can’t borrow and you have to pay it then you print it and what’s it worth then?
Why not?
Who are going to borrow from? The Fed with printed money?
Fact is...I think there's plenty of politicians and others...that would like nothing more than a "re-set" of everything. Of course..only if they are in charge of the "re-set".
Individuals, companies, or foreign governments.
We have borrowed money since 1835.
The treasury holds debt auctions where it sells bonds, bills and notes.
Demand for US treasuries is strong right now as they are seen as a safe haven to investors.
Time to go feed the flying unicorns now.
What is your point?
As a percentage of GDP our public debt is lower than many industrial nations.
The UK, France, Germany, Italy, Spain, Canada and Japan all have a higher debt-to-GDP ratio.
Must be nice living in the land of money trees. Your answer to a problem is to borrow more money when we can’t payoff what we owe now. Keep borrowing and see where that gets us.
But I think you can’t grasp the point, you must live in the land of money trees and flying magic unicorns.
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