the sky is falling! FDIC ready to tank

[Supplicate]

any thoughts?








Hope everyone's 401k is growing and fear is dwindling.

Invest in lead, lots of it in little cylinder shaped things...

 

[FriscoProx]

The gov't will honor the FDIC insurance of your account. The problem would be if your bank goes under, would you have enough cash on hand to pay the mortgage or other bills until the FDIC insurance comes in and your bank can re-open.

I'm trying to prepay my mortgage and truck for as long as I can while still being able to have a decent amount of cash on hand. The rest is going into silver coin and bullion. We got a $20 trillion hole in our economy and the Gov't isn't stopping $$$$$ printing presses anytime soon.

 

[Ollie]

The gov't will honor the FDIC insurance of your account. The problem would be if your bank goes under, would you have enough cash on hand to pay the mortgage or other bills until the FDIC insurance comes in and your bank can re-open.

Yep, you always want to be able to get your hands on about 2 moths worth of CASH.

The problem with todays society is that no-one knows how to save. The last 30 years have pretty much spoiled a couple generations. They are too used to just having money. How many times have you seen a teenager driving a 30k car and it's his.

Well guess what, it's time to pay the piper and people don't like it.
We are in this mess because of out of control spending in washington and way to many regulations with zero oversight.

 

[xrated]

hey i'm 25 with a 700 dollar car. what do i get?

 

[Wolfrun]

My father was born in 1898 an died in 1988. He often told me in his later years, "we probably need another depression, it taught a lot of people how to live".

 

[Ollie]

hey i'm 25 with a 700 dollar car. what do i get?

To pay for the kid to drive his 40k car he can't afford.
Don't you feel lucky.

 

[previous member]

The FDIC is a joke. Does anyone honestly believe that if the banking system tanked the FDIC would have the money to pay everyone several thousands of dollars all across this country. The country is not only flat broke, it is in debt trillions of dollars. The FDIC has NO money to pay people with. It is a hoax to convince people their money is safe in the banks, it isn't.

I used to fly a jet for a guy in Utah by the name of Howard Ruff, maybe some of you know of him. He is an author and a financial advisor. He at times has said things that really tick off upper government officials. He got a call from Ronald Reagan at home one time years ago due to something he had said in his newsletter and on TV.

Bottom line, if you trust the FDIC you are believing in smoke and mirrors........

 

[yardfarmer]

I am with the snowman on this one..., the banks go down the government will turn thier backs on wee the people!

 

[Ollie]

I am with the snowman on this one..., the banks go down the government will turn thier backs on wee the people!

No doubt on that one.
With Obama doubling the national debt in under 2 months and still raising it, we will go the way of the Soviet Union in about 4-5 years.

Of cource if the banks failed and they defaulted on all the FDIC accounts, that might be the catalist we need to actually start the revolution.

 

[previous member]

I honestly think the only way to solve the financial crisis is to allow everyone who is going to fail do just that, fail. The strong will come back and survive, they will find a way. The weak will just disappear. This is the way it should be if we want a strong country. You can't just keep going into debt in order to throw money at all these losers and crooks...........Grrrrr

If you go out sledding with say 6 guys and one of them has no gear, no food, no water, no tools to work on his sled and does not take care of and maintain his sled, guess what, that one guy drags down the entire group. If everyone got stuck or lost in a snowstorm those who were prepared would have to share with those who weren't and that could in some cases kill everyone. That is exactly what is going on in this country right now. Have no doubt, they are killing all of us............

In Vietnam I used to be part of a 5 man team that went out at night on surveillance. We would set up and just watch and report to the main part of our unit what we saw. If one of our team members sneezed, coughed or did some other crazy schit it could get all of us killed. That was some real schit, no room for screwups. This damm country of ours is full of screwups and they are getting us all killed...........

 

[Dogmeat]

any thoughts?








Hope everyone's 401k is growing and fear is dwindling.

Invest in lead, lots of it in little cylinder shaped things...

Obama has no intention of saving the economy.

He's giving "his people" a bonus before the whole US tanks ... then he's going to use his anus-lubing politi-speak to lube the collective anus' of everyone AGAIN in 2012 to rebuild the US as a socialist regime after there is nothing left.

 

[ArcticBoy]

any thoughts?








Hope everyone's 401k is growing and fear is dwindling.

Invest in lead, lots of it in little cylinder shaped things...

Smith and Wesson hit an all time high yesterday! Hmmm.

 

[Jeff C]

Having been in the financial industry for the last 20+ years now, I just happen to know about 200 bankers personally. We do business with these people all the time...........

The community bankers are getting hosed. Most of them have done absolutely nothing wrong, never played with mortgage backed securities.

Yet the FDIC comes to them and demands of them to infuse the insurance part of the FDIC to the tune of one years profit.

These guys are getting hosed.


I am not talking about Wells Fargo here. I am talking about community banks. First National "schmung Junction" and Community Bank of X--------- Valley, or Peoples Bank of "Main Street small town America"


This "hold up" is not only with Banks. The NCUA which is the deposit insuring arm of the credit union market is doing much the same thing.........


Yep, it will work if your deposits are in small community banks and credit unions. I have seen the numbers. It will work because the FDIC and NCUA are crippling the profits of YOUR financial institutions.

These are not multibillion dollar banks, these are banks in Fargo, ND............ Billings, MT................Island PArk, ID.....................Kearney, NE and so on.......


Screw the big banks, support your credit unions and small community banks with your loans. Yep they cost a fraction of a percentage point more than the big boys, but they are the heart and soal of main street USA.

They need your support more now than ever. They did not get caught up in the BS that is gripping Wall Street, yet they are being asked to bail out the system that allowed the big banks to specualte with money they did niot even have........


Next time you need a truck loan, call your local community bank or credit union................

Support the people who give a "rat's @ss" about your local community..........

 

[Diesel99]

I honestly think the only way to solve the financial crisis is to allow everyone who is going to fail do just that, fail. The strong will come back and survive, they will find a way. The weak will just disappear. This is the way it should be if we want a strong country. You can't just keep going into debt in order to throw money at all these losers and crooks...........Grrrrr

If you go out sledding with say 6 guys and one of them has no gear, no food, no water, no tools to work on his sled and does not take care of and maintain his sled, guess what, that one guy drags down the entire group. If everyone got stuck or lost in a snowstorm those who were prepared would have to share with those who weren't and that could in some cases kill everyone. That is exactly what is going on in this country right now. Have no doubt, they are killing all of us............

In Vietnam I used to be part of a 5 man team that went out at night on surveillance. We would set up and just watch and report to the main part of our unit what we saw. If one of our team members sneezed, coughed or did some other crazy schit it could get all of us killed. That was some real schit, no room for screwups. This damm country of ours is full of screwups and they are getting us all killed...........

Great analogy but the problem is you have too many too big to fail banks holding toxic CDS's if one fails they have a built in detonator that kills all the other banks.
They are screwed and insolvent so the taxpayers are going to foot the bill on these guys until they can unwind the crap for say 10+ years.

check out: http://www.bankaholic.com/derivatives-credit-default-swaps/

 

[xrated]

To pay for the kid to drive his 40k car he can't afford.
Don't you feel lucky.

i guess so....as long as he stops to pull me outta the ditch or give me a push off the road when it breaks.

 

[xrated]

Having been in the financial industry for the last 20+ years now, I just happen to know about 200 bankers personally. We do business with these people all the time...........

The community bankers are getting hosed. Most of them have done absolutely nothing wrong, never played with mortgage backed securities.

Yet the FDIC comes to them and demands of them to infuse the insurance part of the FDIC to the tune of one years profit.

These guys are getting hosed.


I am not talking about Wells Fargo here. I am talking about community banks. First National "schmung Junction" and Community Bank of X--------- Valley, or Peoples Bank of "Main Street small town America"


This "hold up" is not only with Banks. The NCUA which is the deposit insuring arm of the credit union market is doing much the same thing.........


Yep, it will work if your deposits are in small community banks and credit unions. I have seen the numbers. It will work because the FDIC and NCUA are crippling the profits of YOUR financial institutions.

These are not multibillion dollar banks, these are banks in Fargo, ND............ Billings, MT................Island PArk, ID.....................Kearney, NE and so on.......


Screw the big banks, support your credit unions and small community banks with your loans. Yep they cost a fraction of a percentage point more than the big boys, but they are the heart and soal of main street USA.

They need your support more now than ever. They did not get caught up in the BS that is gripping Wall Street, yet they are being asked to bail out the system that allowed the big banks to specualte with money they did niot even have........


Next time you need a truck loan, call your local community bank or credit union................

Support the people who give a "rat's @ss" about your local community..........

only small town for me...in fact all loans minus the house are from the same credit union. fair rates, most important they work with me for the payments and schedule. they also know me and know my record so they are more willing to overlook credit scores.

Found this out when the wife and I got married. Her credit sucked, mine was good, but combined she lowered mine. The small CU still gave us the loan at my score, etc.

 

[Ollie]

My whole problem with the bailouts is this.
It would have cost a chingo less to just buy up all the costic loans than to continue to bail these idiots out.
What is it up too now?
2.1 trillion and they still can't get it right.