update #2 on: U.S. Going Bankrupt?
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Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act: yahoo
With the "financial storm of the century" hitting financial institutions, many Americans are worried about the safety of their bank deposits. While the FDIC insures individual accounts up to $100,000, the reaction to IndyMac's failure this summer -- lines outside retail branches -- shows Americans have limited faith in the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000.
But Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes there is already a "slow-motion run on retail banks" occurring nationwide.
That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.
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Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act: yahoo
With the "financial storm of the century" hitting financial institutions, many Americans are worried about the safety of their bank deposits. While the FDIC insures individual accounts up to $100,000, the reaction to IndyMac's failure this summer -- lines outside retail branches -- shows Americans have limited faith in the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000.
But Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes there is already a "slow-motion run on retail banks" occurring nationwide.
That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.
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Warning being sent?
Run on the banks? "Justified to be worried"? This article from Yahoo seems to be sending a subtle message that people could possibly even lose their "insured" bank deposits in the certain turmoil ahead as the 'consolidation' i.e. globalization of the U.S. financial system and the restructuring of this nation into a 'homeland' presses toward the completion of that goal. It should be understood that while the complete deconstruction of the 'existing world order' is a work in progress, so to speak, it has now passed the point of no return. Once destroyed, the 'new world order' of the global Zionist kingdom can be ushered in.
This past weekends 'financial 9-11' implosion was the unmistakable sign that this time has come! Be informed.
see: (the only hope) Return of Jesus Christ - Lewis Sperry Chafer
The LORD God sends warnings too:
Zephaniah 1:18 Neither their silver nor their gold shall be able to deliver them in the day of the LORD's wrath; but the whole land shall be devoured by the fire of his jealousy: for he shall make even a speedy riddance of all them that dwell in the land.
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