Banking system under strain. FDIC coverage just went from 250K per account to 250K per person.
h/t Ann Barnhardt
"And remember, total bank deposits in the U.S. are somewhere around TEN TRILLION DOLLARS and the FDIC deposit insurance fund as of March 31, 2012 had a whopping $15 BILLION.
"Bottom line: if you think your bank deposits are "insured" or "safe" because of FDIC protection, you're totally irrational"
"December 31, 2012 As scheduled, the unlimited insurance coverage for noninterest-bearing transaction accounts provided under the Dodd-Frank Wall Street Reform and Consumer Protection Act expired on December 31, 2012. Deposits held in noninterest-bearing transaction account are now aggregated with any interest-bearing deposits the owner may hold in the same ownership category, and the combined total insured up to at least $250,000."