The FDIC Apocalypse Is Coming

The head of the FDIC is officially on record saying the FDIC will be out of money in six months.

What happens after that is impossible to forecast.

I work for a bank. I live in Houston. I was here for Ike. We did not hesitate to restrict withdraws leading up to Ike's landfall.

If you plan on having easy access to your money after the FDIC apocalypse, start making withdraw arrangements now. (Some of my customers already are.)

And you better not tell a living soul. Don't tell anyone who doesn't need to know. Your family's safety depends on it.

Good luck.

Get ready.

Or learn the hard way.

It won't matter if the feds bail out the FDIC or not. Once the FDIC crashes, this year, it will be a brave new world.

Peace until war.

I belive that it can happen faster. the "zero" time is the G20 meeting on begining of April. they will be unable to give any reasonable solution for the current problems and this is going to be very destructive for the financial world.

I belive 3 months from that point we are going to enter the really dark time in economy and in real lifes too.

the only thing is if withdrawl can help you any way. you belive that the money will be worth still something? I have a lot doubts. the best is to spend it and make some supplies.

good luck for everyone

Washington plans for big bank failure
money.cnn.com...

NEW YORK (Fortune) -- The government is bracing for a big bank failure.

A bill introduced in Congress would give the FDIC, the agency that stands behind Americans' bank deposits, temporary authority to borrow as much as $500 billion from the government to shore up the deposit insurance fund.

The bill -- the Depositor Protection Act of 2009, backed by Senate Banking Committee Chairman Chris Dodd, D-Conn. and Sen. Mike Crapo, R-Idaho -- wouldn't change the status of individual bank accounts, which through the end of this year are insured up to $250,000.

Think this will help or no dice?

The day the FDIC gets that half a trllion is the very day the depression starts.

The USD is about to become worthless.

The ONLY thing keeping our economy going right now is corrupt, givernment approved book cooking.

Enron style.

Good luck.

Peace until war.

I do NOT want to be working at a bank the day after the FDIC Apocalypse.

I start looking today. Wish me luck. I'll need it.

If anyone keeps their money in the bank........ there may be No getting it back............. I have heard through an "alternative" source........... that we can ALL expect a "Bank Holiday" in the NEAR future.

Originally posted by Hx3_1963
Think this will help or no dice?

Unfortunately, I think the moment this gets to the Senate floor will be the moment that (average) people realize their money is no longer safe in banks. God help us all then.

I have to say, where I live Albuquerque, what's been happening in the news with the market and housing crash was nothing more than something that was happening to other people in other parts of the country....
Then stores started closing, Circuit City, Mervin's, Linens and things, Eclipse Aviation, Intel had laid off a couple thousand in its Rio Rancho plant with whispers of closing it by May... We have not been hit with all the foreclosures but no one is building new homes either.
While we are pretty well isolated from from the brewing storm I can say that we have had a huge influx of people from other parts of the country coming here with nothing but the shirts on their backs. only to find their problems have followed them.
We've yet to see a bank fail but if it does start to happen I would guess we'd be one of the last places to really feel the effect. By the time we do feel it the rest of the county would probably be in total meltdown mode

reply to post by DaddyBare
People are probley showing up because it'll be warm enough, most of the year, to setup the soon to be coming to your area Bushbamaville New Tent Citys...

Originally posted by Hx3_1963
reply to post by DaddyBare

 

People are probley showing up because it'll be warm enough, most of the year, to setup the soon to be coming to your area Bushbamaville New Tent Citys...

that would be a fatal mistake...
while Albuquerque isn't so bad I've seen it snow 4 feet in a day in the mountains east of us. down in the low lands the summer temps reach well above 100 and we don't have a lot of water here... plus everyone carries a gun...
On a map or browsing tourist web sites this may seem like a good place to be but our extremes are just that and dying from heat stroke will kill you just as quickly if not faster the freezing to death...
Never happen as the mayor already bulldozes vacant abandoned properties and the first tent he see's he'd probability set fire too.

reply to post by DaddyBare
Ok...all good points...was just a ramblin' off the cuff remark...

I had thought of the extremes AFTER I posted...silly me...

reply to post by Hx3_1963


Thats what I like about you Hx3...you are such a good natured one!

FDIC...well I took mine out in Dec 07, and am not putting it back in.
I have no doubt we are in for another year of "unprecedented".

Bush's $800 billion + Obama's $800 billion + another $500 billion "loan" to save the FDIC = $2.1 trillion.

Do you know were that $2.1 trillion is coming from? They are simply printing another $2 trillion dollars!

Currency Trading 101:
You have a Babe Ruth card. The only one ever made. On EBay, it goes for $1 million.

You have a Babe Ruth rookie card. It is #2,159,157 out of 10 million of them. On Ebay, one person bids $0.50.

What should be a Babe Ruth card is the USD. Just for kicks, someone should try to auction a US one dollar bill on EBay. The auction would be shut down but it would be interesting to see what it goes for.

The day the FDIC takes that (wink wink) loan, that is the very day the depression starts.

Saving the FDIC will delay what is coming. It will lessen what is coming. But it will make what is coming last so much longer......

The market has lost 20% of it's value since the first two bail outs. Add an automatic 5%-10% once this goes through.

Not including the further sustained bleeding that will result. On top of the sustained bleeding we already have.

We are already drowning in a bowl of crap and a third butt just sat on the toilet.

Once this goes through, people will stop entering the stock market. They will only exit.

If the DOW is below 5000 before Easter, it better not go below 2000 before January 1st, 2010. If it does, it will be below 100 (that's one hundred) before 2011.

Anybody up for WWIII in the next 10 years or less?

After the FDIC Apocalypse, don't worry about paying your credit cards. Your credit won't matter, good or bad.

They will jack up the fees and it won't be able to afford it anyway with the coming inflation.

Americans are about to lose their ability to swipe plastic; that's when chaos will begin.

Remember how concerned everyone in the US was during the Rodney King riots? Everyone was concerned it would jump cities.

When the chaos starts, it WILL jump cities. It will spread faster then an air borne virus in Africa.

Get ready.

If you don't have the money to get ready and you are hanging out on the internet, you have time to get a second job so you CAN get ready.

I am getting out of banking even if I have to take a pay cut. I want a job that does NOT involve working at a bank or a grocery store or gas station or a gun shop, ect.

Those are the very last places on earth you will want to be when the chaos hits your neighborhood.

As unbelievable as it sounds, what if WWIII is fought inside US territory. We are sure over due.

UN troops are sent here to restore the order and they sure won't be a welcome site.

It will all start with the FDIC Apocalypse. Bail them out or don't, it will not matter.

Get ready.

Peace until war.

[edit on 3/7/2009 by Genfinity]

reply to post by Genfinity
Now ya know the IMF is also lookin' for at least $500B+ and are lookin' fer "large western ecomomies" to increase stimulus...right?

IMF: Big economies need bigger stimulus
money.cnn.com...

A few currencys/economies/countrys look to take a hit?




[edit on 3/7/2009 by Hx3_1963]

If they run out of money the gov will probably just bail it out and print more for them. Or not even print any. Just turn all the digital 0s in their accounts to 1s. What will that do to the dollar? I don't know, but I'm not worried about it. If they print too much money won't be worth anything due to inflation and I won't be needing money anyway. It won't buy anything.

Also, I'm not worried about getting my money out of the bank if they fail either though and I'll tell you why. If I woke up one day and nobody could get money out of the bank then the money wouldn't be worth anything anyway.

After the riots half the town would be burnt down and all the food would be missing from the grocery stores anyway because it will have ranksaked and looted. If you had any food or money, even though the money wouldn't be worth anything, some moron with a gun would just be killing you for it because they're dumb. They'll think it could still be used to buy something, but if he buys something with it like bread then someone smarter will just kill him for the bread lol. It would be a total cluster. In other words, you won't need your money when that day comes. Look at H Katrina. You think those people were worried about if the ATMs worked that day? No, it was a total cluster. Dollar bills were worthless. There weren't no stores to buy anything from anyway lol. It won't be worth anything and there won't be anything you can buy with it. So, who needs it?

Now if just a few banks go down? Well I have three different accounts in two banks and a credit union. As one started to fail I could move my money and open up new accounts at other banks. So I'll still have money because it's not likely all the banks I have accounts in will fail the same day. However, if they all fail, then I won't need my money. Like I said the whole town would be on fire because if I can't get my money, that probably means nobody else can either. At that point money becomes pointless. People go back to survival of the fittest.

Originally posted by questioningall
If anyone keeps their money in the bank........ there may be No getting it back............. I have heard through an "alternative" source........... that we can ALL expect a "Bank Holiday" in the NEAR future.

I believe a bank holiday is on its way. BUT that doesn't mean that your money vanishes completely. A bank holiday is a temporary shutting down of the banking system. You cannot access your account for a while.....

btw. is your alternative source GG?

reply to post by Genfinity


Ok, a few comments to your post.
1. Printing money per se is nothing bad. Inflation itself is not bad. If the printed money would be used for production, expansion, and economic strength.
The problem we are having here is that the printed money is not intended for production but buying up assets, basically you could blow it into a fire...

2. The indexes won't fall to a 100. Way before that can happen they will shut down the whole financial system. That's what we are facing here pretty soon.

3. What you refer to WWIII is not a response the the failure of the US economy. civil war is very likely on US soil as a response.

4. WWIII has already started in the middle east. The fire just takes some time to spread around...

I don't see the FDIC failing because that would cause exactly the opposite outcome than what is needed to correct this problem and that is the flow of credit. If the government lets the FDIC fail, there will be a run on banks and the number of failed banks would go through the roof essentially bringing down the global financial system. They won't let that happen and they will simply print more money.

I think a couple of things are happening here that are very dangerous.

1. Obama is playing a game of chicken with Wall Street. They don't like his plan and as a consequence the markets keep dropping. There are hours and even a day here or there where profit takers drive the market up, but it has been dropping like a stone since he took the job. At one level, I'm sure he wants it to correct and begin to recover. On another level, I think he is looking at the worsening situation and thinking (or being advised) that the worse it gets, the better his chances are to ramrod through his socialist nonsense. Wall Street will win this game of chicken, because they can. The market is low because folks have pulled all of their money out. Placed it into metals and mostly put it into cash - under the FDIC protection. Until the street gets comfortable with his plan, the money will stay on the sidelines and the markets will continue to drop.

2. The rest of the world is in worse shape than the US. There is a race to the bottom going on right now where the last thing much of the world wants is a strong US recovery. Gordon Brown is not the only leader calling out for a global new deal. Much of the world would love to tie up to the US right now because we are in better shape than they are and will keep them afloat.

3. Obama does not have much time. He has already run out of people to blame about the market situation. With all of the hoopla about him and the "god" factor attributed to him, his being a failed presidency in the first year (I think there is a real possibility of that) will cause massive unrest in the US. Class warfare to the 10th degree. The Presidency is all about leadership and credibility and unless he gets some plan together soon, he will lose the later and therefore be unable to provide the former we need.

The markets like stability. They want competent people running the economy. They are voting with their feet right now and will continue to do so. Typically by this time the Treasury is filled with Wall Street vets. Not now. We still don't have any under-secretarys because nobody from the street will take the job. They just lost their latest candidate to be under-secretary of the Treasury. She just pulled out. Even the candidate for Surgeon General just pulled out.

There is a real problem here and all of the teleprompter speaches and cute talk about Portugese Water Dogs and Michelle's triceps ain't going to fix it. When what he needed to do is come up with a plan and stabilize the markets and manage the message and ensure that competent staff was in place to execute a recovery plan, he tried to jam a bunch of socialist crap down the throats of the American people and continues to say he wants to cram more down the gullet. The black lash is brewing and once it happens, he is toast. His poll numbers are dropping about a point a day and now over 60% of Americans don't think his plans will work and think they are too big and that he is trying to do too much.

Back on topic and sorry for the rant, but they will not let the FDIC fail, if for the simple reason being that should it fail he will be completely unable to push his leftist agenda.

On a good note, keep your cash. At some point, they are going to have to suck the excess cash out of the system and interest rates will hit double digits and folks with cash are going to make good money.

I told my mother about this and her response was 'we're doomed'
Shes not an economic nut like I am and it shows you what the normal person thinks about this.

Although they could in theory, I would have to agree there is no way the Fed let's the FDIC fail.

The quick result would be anarchy in the streets.

When it comes to over throwing the government, I think we let the military worry about that. Support the military that supports your point of view.

I think it's a very bad idea to encourage private citizens to militia up.

I would support a protest but it would have to be at least a thousand people. I will not be one of ten retards standing near a road with a sign. One of a thousand retards, yes. There is strength in numbers.

Good point about the DOW not going below 100. I will worry about 2000 when it falls below 5000; regardless of when it decides to happen.

I have zero desire to be in banking after the FDIC takes the half trillion dollar "loan."

But this is about the worst time ever to look for a job. I just don't want to be in a "core" business when/if the feces hits the fan.

Once rioting of ANY kind breaks out, keep an ear on a TV or radio. When it starts, it will be difficult to contain. Remember, it took heavy armored vehicles to put down the LA riots.

Please keep the opinions coming.

Originally posted by Genfinity
The head of the FDIC is officially on record saying the FDIC will be out of money in six months....

Well, spill the record then, we are all waiting!

Do you mean this video? It is hearsay:

**Good Source** Fed Reserve Employee under Geithner! Reveals Hyperinflation Guaranteed! SOON!

I have not verified this "good source". So far it is just some dude on youtube quoting some other dude on some discussion forum.

[edit on 7-3-2009 by pluckynoonez]