iBankCoin
Joined Nov 11, 2007
31,930 Blog Posts

The Secret FDIC Rule That Puts Your Savings At Risk

“April 8, 2013

What happened in Cyprus isn’t a “one off” event.

The financial media and elite have been trying to convince the world that Cyprus was a unique situation… a “one time” deal… and that our money is safe in the banks.

This is untrue.

Spain, Canada, and New Zealand have already proposed similar measures through which individuals’ SAVINGS accounts would be used to prop up the banks during times of Crisis.

It’s called a “bail-in,” but really it’s “THEFT” plain and simple. The banks made the terrible mistakes that rendered them insolvent. They (the banks) should simply fail. But instead of failing, the regulators want to keep the banks in business… using YOUR money.

Why is this?

Two reasons:

1)   The regulators don’t have the money to actually insure deposits that they claim.

2)   Politicians realize that people are fed up with the public funding bank bailouts… so they’re targeting individual savers in the banks that are in trouble.

It’s a simple question of math regarding #1. Banking deposits are in the trillions of Dollars and most deposit insurance entities only have a few billion Dollars in funds. Obviously, if a large bank were to fail under these circumstances there wouldn’t be the funds to cover deposits…

Regarding #2, politicians have begun to realize that the public simply won’t stomach another Federal bailout of the banks. So instead of getting everyone and their children to chip in by using the public’s funds… they’re going after the deposits of a select few people who have their funds IN the troubled bank.

Their thinking is that if you can’t steal a little from everyone, you might as well try to steal a lot from a few people.

Could this happen in the US?

You better believe it. In fact, the FDIC has already put forth a proposal to do EXACTLY this in the event of a Crisis.

Just four months ago, the FDIC drafted a formal strategy in which it suggested that during the next Crisis, it can…

1)   Decide WHAT banks are systemically important.

2)   Take control of any “systemically important” bank that it deems at risk of default.

3)   Once in control of the bank, YOUR savings deposits can be “written down” in value (meaning you LOSE money you thought was yours) as part of the bank bailout.

Less than 99% of Americans realize this is the case, but the legislation allowing this is already IN PLACE and the FDIC has already written out the rules for what will happen…..”

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9 comments

  1. ottnott

    Very classy. iBC news now reposts cheesy sales letters for cheesy financial advice services.

    ================
    This report is titled, “The Secret FDIC Rule That Puts Your Savings At Risk.”

    How much is this report worth?

    How much money do you stand to lose if your bank declares a “holiday” and your funds are frozen then WRITTEN DOWN IN VALUE?

    We’ve made this report FREE to all subscribers of our Private Wealth Advisory newsletter. An annual subscription to Private Wealth Advisory costs just $299. Given the importance of the risk posed to your wealth, I imagine that “The Secret FDIC Rule That Puts Your Savings At Risk.” alone is worth at a minimum, TEN TIMES that amount.

    To reserve a copy of this report (we’re only making 100 copies available)… all you need to do is take out a trial subscription to Private Wealth Advisory.

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    • CRONKITE

      ottnot,
      never mind the source, but rather the content.
      Want the real deal for free then use your research skills: http://www.fdic.gov/about/srac/2012/gsifi.pdf

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      • ottnott

        Crappy content from a crappy source. I’ve read the FDIC paper. It has nothing at all to do with FDIC insured deposits.

        The point of the paper is that a new process is needed to avoid the need for massive injections of public funds into financial institutions to maintain the stability of the financial sector and the overall economy.

        The massive injections of public funds were needed because the bankruptcy system couldn’t handle the failures with enough speed and flexibility to maintain stability and the FDIC can take over and sort out only FDIC-insured depository institutions.

        The FDIC paper addresses how to quickly sort out impending failures of large, international financial institutions without relying on taxpayers to step in to absorb losses that should be borne by equity holders and creditors.

        This plan is something we need, not evidence of a nefarious plan to steal your insured deposits.

        I appreciate that you stroll throughout the internet to look for info that might be useful to iBC readers. I just wish that you’d scrape the dog shit off your shoes at end of your stroll instead of bringing it in here and posting it.

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  2. drummerboy

    people just want to ignore the inevitable. let them.these are the very folks,that when they wake up one morning,”could never believe that it could happen here”. ha ha,”where’s your bitcoin now bitchezzzz.

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  3. drummerboy

    keep up the great work cronk.fully appreciate all you do.thanks

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    • CRONKITE

      drummerboy,
      not sure why people want to ignore reality. no safety in burying your head in the sand!
      any way i wish i had more time to post. glad you enjoy the work.

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  4. drummerboy

    it’s like this kid rhino,he pours his heart out in what be believes can help people all over the world,only to find that no one cares,and things are for naught.everyone wants to help this world be a better place for all,but dont ever think that the “good karma” that comes out of this place is ever a waste,cause it’s not.

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