healthmyths
Platinum Member
- Sep 19, 2011
- 29,043
- 10,525
- Thread starter
- #301
obsession runs deep
As they say in the middle East...
والحقيقة تجعلك حرا
Now if you were as Internet adroit as you think you are you should be able to translate that!
The reason I am doing this is because obviously you don't comprehend the dire nature of our
existence under the continued assault on our country as some of us recognize!
Wait till QE3 stops... watch how quickly the DJI drops! Watch the run on banks!
And then remember your "obsession" comment as you pay $8.00 for gas...
The banks have trillions in cash, why do you feel there will be a run on the banks?
Oh you naive person...
Ever read the charter of the Federal Deposit Insurance Corporation?
Definition of 'Emergency Banking Act Of 1933'
A bill passed during the administration of former U.S. President Franklin D. Roosevelt in reaction to the financially adverse conditions of the Great Depression. The measure, which called for a four-day mandatory shutdown of U.S. banks for inspections before they could be reopened, sought to re-instill investor confidence and stability in the banking system.
The infamous stock market crash, which preempted the Great Depression, put great strain on the U.S. monetary system. Collective fears of loss of individual savings as a result of bank failures caused massive runs on the banks, which only compounded the problem. Roosevelt's actions helped restore credibility (and thus functionality) to the banking system and the creation of the Federal Deposit Insurance Corporation under this legislation helped provide a more permanent solution.
Emergency Banking Act Of 1933 Definition | Investopedia
The fact IS there is NOT enough money in the FDIC fund to cover ALL the deposits up to $250,000.
What will happen is FDIC will go to the treasury and borrow.. but that piggy bank is busted already with QE3!!!