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US Bank Run Imminent as FDIC Expanded Deposit Insurance Ends Dec 31st
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[quote:Anonymous Coward 20889314:MV8yMDUyMDkzXzM0NDkwMzUzXzQzMDQ1RjZF] [quote:smokahontas:MV8yMDUyMDkzXzM0NDg4NzE5XzM4NjBEQUY3] [quote:truth 10870676:MV8yMDUyMDkzXzM0NDg4NjU4XzJBQzk0NTUy] [quote:Anonymous Coward 20889314:MV8yMDUyMDkzXzM0NDg3NjM5XzUzRjdDMjE0] You guys keep your money in a bank? What is wrong with you? Cash your pay check and take it home. Pay cash for things. Good luck using your debit card or credit card when the SHTF. Many found this out with Sandy. When real big problems occur they will freeze everything and you will not get at your money. Then what are you going to do?? [/quote] so then how do you pay your monthly bills like electric, gas, water, rent, mortagage, insurance, things that require a check to be sent out? [/quote] I only leave what is required for bills in bank...not a penny more [/quote] That is exactly what I do as well. [/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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