FDIC’s Bair Says Insurance Fund Could Be Insolvent This Year

Here’s a concerning report from Bloomberg this morning concerning the warning of the collapse of the F.D.I.C. this year if conditions worsen and banks continue to fail. Never in my life did I ever truly expect to see the demise of western society. The big concern here of course is with the F.D.I.C. unable to stabilize the banks and cover our money, what will happen to our society in general? Riots? Violence? It’s interesting to see the possible intention of our government to assert control in such cases with its establishment of the FEMA camps and other means of urban pacification. Anyway, I felt this story needed to be posted this morning.

Here is the link to the bloomberg.com article www.bloomberg.com...

This is upsetting to read considering it looks like Citigroup is about to go under. (stock trading @ under a $1.00) With this being such a large bank, will the FDIC have enough to back the deposits?

If they tell people, sorry, we're out of money & we can't give you your life savings, then yes, people will riot, there will be violence & chaos will ensue. I don't see it as a maybe any longer, I'm just wondering what event will be the trigger at this point.