Who is the FDIC?
From their own website...
The Federal Deposit Insurance
Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits
in banks and thrift institutions for at least $250,000; by identifying, monitoring and addressing risks to
the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank
or thrift institution fails.
An independent agency of the federal government, the FDIC was created in 1933
in response to the thousands of bank failures that occurred in the 1920s and early 1930s. The FDIC receives no Congressional
appropriations – it is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and
from earnings on investments in U.S. Treasury securities. With
an insurance fund totaling a mere $3.9Billion, the FDIC insures more than $7 trillion of deposits in U.S. banks and thrifts
(according to it's own website Dec 2nd 2011) - deposits in virtually every bank and thrift in the country. The FDIC employs
about 7,000 people. It is headquartered in Washington, D.C., but conducts much of its business in six regional offices
and in field offices around the country. The FDIC is managed by a five-person Board of Directors, all of
whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political
party.
For the hard of reading, let's break this down in simple terms:
The
FDIC is an insurance company. They have an insurance fund totaling $3.9 Billion and they insure more than $7 TRILLION.
Do
the math and think about it....
in September 2009 CCN reports that Corus bank was closed down and they this single bank with only 11 branches had deposits
of $7 Billion
Between 1929 and 1933 over 10,000 banks failed - about 57%
| | 1929 |
1933 |
| Banks
in operation | 25,568 | 14,771 |
According
to FDIC data, there are 7,567 savings/commercial banks.
If the International Bankers engineer another
crash similar to 1929 what does this mean.
Let's take FDIC data.
$6.5 Trillion - that is $7,000,000,000,000
divided by 7,567 banks = $925M average deposits per bank
Now,
if just 10% of these banks fail that would be 766 x $925,000,000 = $708,550,000,000
Or $708.5 BILLION
But
the FDIC Only has funds totaling $3.9 Billion
SO WHO'S COVERING THE REMAINING
$704.6 BILLION - ANSWER IS SIMPLE - NO ONE, WELL ACTUALLY IT'S YOU, THE TAXPAYER
A SHORTFALL OF $704 BILLION WITH JUST 10% BANK FAILURE WHEN HISTORY SHOWS US THAT WE"VE HAD GREATER THAN
50% BANK FAILURES.
MOST LIKELY, OUR GOVERNMENT WILL ATTEMPT TO COVER
THIS BY BORROWING MORE MONEY FROM THE PRIVATE FEDERAL RESERVE, SO THEY WILL CREATE MORE MONEY INTO THE SYSTEM THAT WILL CAUSE
HYPER INFLATION AND RESULT IN THE DOLLAR BEING WORTHLESS.
YOUR 401K/PENSION and COLLEGE SAVINGS FUNDS WILL
ALSO BE WORTH NOTHING.
