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US Bank Run Imminent as FDIC Expanded Deposit Insurance Ends Dec 31st
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[quote:Renegade (Me too):MV8yMDUyMDkzXzM0NDg3NDQ4XzY4MzVCMDJC] [quote:Anonymous Coward 27352798:MV8yMDUyMDkzXzM0NDg3MzY4XzVGNENDNDJD] [quote:Anonymous Coward 23011194:MV8yMDUyMDkzXzM0NDg3MTU0XzdFNTMwRkFB] as far as moving your money out of the country, I'm pretty sure I saw in that obamacare bill that jan 1st, IRS takes 30% of all money wired out of the country. [/quote] Wow, why would that be in the affordable care act? That's interesting..... . [/quote] That is scary and very controlling. They do not want our money to leave the country, so they can loot it. [/quote]
Original Message
With the media fixated on the fiscal cliff, no one seems to be noticing the fact that the FDIC’s expanded 100% coverage for insured deposits ends January 1st, 2013.
As of January 2013 the FDIC stops offering 100% coverage for all insured deposits. That amounts to $1.6 trillion in deposits, 85-90% deposited with the TBTF mega banks. Once the insurance ramps back to $250,000 the FDIC risk amelioration offered to large depositors will cause them to flee from the insecurity of the much reduced FDIC coverage. This money will rotate immediately into short term Treasury securities. The treasury, in order to handle this flood of money, will immediately offer negative interest rates. This financing will resemble the .5% negative interest rate offered by the Swiss and Germans on the funds flooding to their banks from Spain, Greece and Italy.
This will be a bank run much larger than the Euro banks flight to safety.
[
link to www.silverdoctors.com
]
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