The FDIC Apocalypse Is Coming

reply to post by Genfinity


I've read in other posts of a secret "99 year repayment clause" on failed banks. FDIC issued the following response to debunk the 99 year myth:

"This is a completely false notion that many bank customers have told us they heard from someone attempting to sell them another kind of financial product. The truth is that federal law requires the FDIC to pay the insured deposits "as soon as possible" after an insured bank fails. Historically, the FDIC pays insured deposits within a few days after a bank closes, usually the next business day. In most cases, the FDIC will provide each depositor with a new account at another insured bank. Or, if arrangements cannot be made with another institution, the FDIC will issue a check to each depositor."

Dis you catch what they said..."as soon as possible" . So, I take from that the assumption that if it is not possible to repay in 99 years, aaah...they could take a little longer. That's how FDIC clears up a "myth". Time to quickly turn those little pieces of green paper into something usable like long term food/water and shelter. Hang on tight!


[edit on 8-3-2009 by romanmel]

People are losing their homes and living in tent cities : because there are too many homes.
All these problems are on paper. Forget the money creators and money itself, form something new. Of course the money creators do not want this. They want to enslave the world with their pieces of paper.

Originally posted by pai mei
People are losing their homes and living in tent cities : because there are too many homes.
All these problems are on paper. Forget the money creators and money itself, form something new. Of course the money creators do not want this. They want to enslave the world with their pieces of paper.

Better buy your tent now...could be a rush on tents in the near future! Wonder what the stock price is on tent manufactures...Oh right, they're all made in China now, aren't they?

[edit on 8-3-2009 by romanmel]

I typed a reply earlier but somehow, I wasn't logged in. Who knows were THAT post went??

Anyway...,

If you have any money, I would suggest buying what ever you need if the power goes out for a prolonged amount of time.

I would also suggest buying camping supplies if you were to camp for 3 days without running water or electricity.

I would suggest a mountain bike to (with pedals).

If you live in the north, buy clothes you would were in the south in the summer.

If you live in the south, buy clothes and coats you would wear in the north in the winter.

I say that because staying put may not be a good idea.

Turn your money into something. Buying gold and silver are also being suggested as viable options.

Buying food and water is fine but what is your plan when your stock of food and water runs out? THAT is the plan you should go with from the start.

On the financial markets, watch for the official news release saying the Fed has given the FDIC a $500 billion line of credit. Of course, they stopped telling us which banks are getting how much. How convenient.

Watch for the DOW to go below 5000. Watch for corporations to be very hush-hush until it is simply not possible to cheat the books anymore.

On another note, Democrats bashed Bush for eight long years. Republicans endured.

Where ever Bush went, the anti crowd was close behind. That was about the extent of it.

Now the tables are turned and Republicans are returning the favor to Obama x 100.

In response, Democrats are saying, "Republicans are making a bigger deal of this then they should. It's THEIR fault anyway. And Rush is running the party."

If Democrats are not talking the Republican rhetoric seriously, they better start.

This is waaaaay beyond the losing party doing their President bashing ritual.

People better start paying attention to what the heck is getting started. The situation is way ahead of the people. Most people are so far behind, they aren't even in the dust cloud anymore.

It's one thing to be blind. It's another thing when your so stupid, you don't even realize your blind.

Peace until war.

reply to post by pere66


Almost exactly the same scenario. Milosevic was a banker in NY before he became leader of Serbia. Many think he was simply executing orders from CIA.

There is a trend in the USA among individual states to claim independence from Federal government. Local politicians want more power for themselves. And if Federal gov fails to bring economy on track, which is hardly going to happen, there will be strong attempts for revision of "contract".

This is a great danger, much greater than it appears to be, because people tend not to believe it is even possible.

Relax people, its all about changing the current system for a new one - that's all.

They cant just announce on TV "Hi, we're the NWO and we'd like to take complete control over your lives. So what we're doing is causing financial Armageddon, but don't worry, its just a passing phase to get you scared enough to allow us, to work on your behalf for a better future for us all"

We now return you to your regular dose of brainwash the masses ....

Beyond the FDIC to watch is light crude and Russia. Russia has based it economy on oil being around $90 a barrel. With it now hovering around $44 they are in a world of hurt. Giving a $500 Billion FDIC bailout might also effect the price of light crude. If light crude drops below $30 a barrel you can expect Russia to head south looking to shore up the failing economy any way they can. Have you been keeping an eye on Eastern Europe? Their economy is in the toilet bowl and Russia is securing oil links.

A further weakening of the dollar on the global market via an FDIC bailout can cause a serious backlash. Personally I doubt that the US will go into civil war but civil unrest with riots are a sure thing. Once that happens you can bet your bottom dollar China will be like a vulture dropping in on a kill. They already are after our oil interests and when opportunity knocks they will jump.

There is allot more to this game than just the FDIC being bailed out. It is really looking like an opportunity to knock off three birds with one stone. Namely Russia, China and the USA. All three are spring loaded to a Middle East conflict and it is not about nuclear Iran either. That is just an excuse for oil grabbing.

If and when the FDIC gets a $500B bailout, watch light crude and Russia. If light crude drops and Russia heads south you will need food and ammo because things will get ugly quickly.

[edit on 3/8/2009 by pstrron]

Originally posted by dolphinfan
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.

What if that's exactly what the Rothschild cabal wants... for the entire system to collapse so they swoop in and save us all by installing their "one world government" and "one world bank" plan?

reply to post by Genfinity


Because of the state of things, I believe what you have stated will happen sooner then within six months. I think it will happen within four months.

Originally posted by Rocketgirl
reply to post by Genfinity

 

Because of the state of things, I believe what you have stated will happen sooner then within six months. I think it will happen within four months.

Well I hope it doesn't happen before two months! End of April/beginning of May is when I'm moving out of LA and back home to the boonies in the midwest. Thank God!!Where my family has tons of land and guns, in the middle of nowhere, far from any major city.

Just hope I make it back in time. Or worse, I hope TSHTF doesn't happen while I'm driving back, in the middle of the desert, society all fallen apart in anarchy mode, with all my personal belongings. Yikes I'm paranoid about the drug cartels now too.

I just want to get out of here!!!! LA doesn't seem like the place to be when SitX happens

This is some intense scary stuff... However, what credidibilty, or other sources can confirmthe failure fo the FDIC? Yes, i kow its bad out thier amongst us all,..but i think more info is indeed needed, before we start shakin on our boots.

reply to post by ziggy1706


Source

But I think that may be changing as well. A bill just introduced in the Senate by Chris Dodd (D-Conn) and Mike Crapo (R-Idaho) would allow the FDIC to borrow some 500 billion dollars from the Treasury to replenish the fund it uses to take over "troubled" financial banking institutions. The bill already has as many as four Republican Senators on board.

Posted a few hours ago

[edit on 9/3/2009 by wycky]

Originally posted by Genfinity
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 believe the Apocalypse is already here because in the past and today it is apparent that the FDIC could never insure all the so called monies insured up to $200,000 and originally up to $100,000 held and deposited by individuals and entities inside the banks in the U.S. The FDIC does not possess the enormous amount of capital to be able do so but can for only limited amounts. This will be more apparent as the domino effect continues with many more failing banks to come in the U.S.

reply to post by pstrron


That was very well thought out. I think your right on target with that. I even passed that on to a few friends. Hope you don't mind.

No one here is telling me that, there is no propaghanda, they have their own problems here that they would never dwell in the poverty of other countries, what I'm talking about is what I seen when I was recently in America, I am a US citizen so i was recently in the US and i go back and forth.. the point is the US is going down more than other coutries when you take that standard of living into account.. here you already have shanty towns and poor rural areas to begin with, but there isn't this big negative change in standard of living that you are seeing in the US.. the economic crises is a US crises that effects the rest of the world, but it effects the US the most..

Originally posted by Iamonlyhuman

Originally posted by ominous
I don't think this is true, I'm in Thailand and been in China and you don't see the financial crises like you do in the US, large dept stores boarded up, massive forclosures and housing tracks falling into ruin, tent cities..there has been alot of layoffs in Asia because that massive consumer market the US can no longer afford to buy factory made things, so laid off workers go back to their villages or find some other lowpaying job.. this 'global finincial crises' is actually just an american problem that drags other countries down but not out.. in the long run it is the american financial system that is bankrupt, america is maintaining a standard of living based on borrwing money and that system is going bankrupt, and al this idiot Obusha can do is borrow more money and send more troops to afghanistan.

Originally posted by dolphinfan
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.

Who's telling you "large dept stores boarded up, massive forclosures and housing tracks falling into ruin, tent cities"? Not like that at all where I live at least. I'm not saying that it couldn't get that way but I'm just wondering what kind of propaganda's being spread in Thailand and China about this whole thing.

[edit on 7/3/2009 by Iamonlyhuman]

The FDIC gets its money from fees paid to the FDIC from banks. Essentially the banks are required to pay for deposit insurance against failure and in doing so get the "FDIC Insured" sign they can post, letting folks know that were they to open an account there it is backed by the government.

The loan to the FDIC is essentially two things. First, many of the smaller banks are not going to be able to pay the increased fees that the FDIC is now charging, so the FDIC will "loan" the fees to banks until the credit problem is corrected and then the banks will pay the fees back to the FDIC. Obviously the balance of the money will be used to cover the deposits of failed banks. Go to the FDIC website and look at the report on bank health and look at the texas scores. In a lot of cases they are not at all bad.

Now if you believe in this massive NWO stuff that will come to bear in a quick assumption of power and reduction in freedom of citizens, you might really think the the government will let the FDIC fail. I don't think the NWO is something akin to a "master plan". I think there are a lot of senior world leaders that want to migrate to a global socialist model and neuter capitalism to a large degree. I don't think they will ultimately be successful. If you think about the ramifications of the FDIC failing it would be anarchy, especially in the cities and the government will be unable to respond to that. If you believe in a NWO, it would be far easier for it to come about slowly, not in a big bang.

As far as the rest of the world goes, the issue is about four things, the diversity of the economys, the arigricultural capacity in a given country, the debt to GDP ratio of the country and the debt to income ration of the individual household.

In the first three, the US is in better shape than the rest of the world. Much of the EU has debt to GDP ratios well over 80 (Greece's is at 95%). The US (prior to the massive spending that is happening which will not hit the US at a macro-economic level for a few years) is about 40. The lack of a diverse economy in many cases, especially those that are dependant on tourism, means they will be harder hit. The US is relatively self sustainable, with the exception of Oil and we'll always be able to buy oil from OPEC its just at what price.

The issue of standard of living is what you are noticing in the US and that is a correct observation. When households have a negative income to debt ratio due to living on revolving credit and the "phantom" equity in their houses, when that corrects folks have to now live within their means. When the credit cards are maxed out, and you can't get a home equity loan, you have to buckle down. This will correct and at the level that folks begin to live within their means, is a good thing. In Europe, people don't have a culture of living on revolving credit and fewer own their own homes, so at a micro-level, at the household level, there is not the same issue as in the US.

Its the macro-economic picture that makes the situation grave in other areas of the world. When the US consumer is not spending money (and now they will not be spending money they don't have in addition to saving more), places like South East Asia, Latin America and Central Europe get hammered. With a common currency, the EU is in a different situation because the weaker EU states will begin to fail due to the rich EU nations not buying their products and the EU will suffer as a consequence as the EURO will begin to take a hit.

I'm an American living in Europe and you're correct - you'd never notice a problem here. Folks are living the same way they always have, pretty much. They have developed a quality lifestyle based on their means. That is not the case in the US. The US is based on consumerism and for a while US consumerism is dead and that spells very bad times ahead for the emerging markets of the world

reply to post by Avalon22


No problem, feel free to pass it on.

Really it is not a matter of if but of when will it start and what will be the trigger or linch pin that starts the conflict. The FDIC bailout is more or less robbing Peter to pay Paul but the money is still wet off the presses. In effect robbing Peter twice for the same amount that is given once. For the life of me, I can not see how Wall Street could see anything good about it and the banks might not have a choice but to buy into it.

Right now the economy is between a rock and a hard place and either way you turn your stuck. Throwing in more money only will make the rocks bigger. We have all heard about throwing good money after bad but we are beyond that. We are throwing bad money after bad money and two bads do not make it good.

If the FDIC fails, then we have chaos. If we bail it out we just dig a deeper hole and the depression lasts longer and we get chaos anyway. Well the whole economy is circling the bowl and about to get flushed, I guess it had to end sometime.

Ya gotta love a good plan when it comes together because someone is gonna make allot of money off this.

Another day, another slow, controlled bleed for the markets.

I wonder how long before it hits 5000.

Now they are talking about letting the automobile companies and banks fail. All that money.....wasted.

Something doesn't pass the smell test.

Round and round we go. Were it stops, nobody knows. Somebody knows.

Keep resisting. Things will keep cranking up. At some point, American citizens as a whole will put their foot down for fear of someone else putting a foot on them.

So just hang in there until enough regular people wake up.

There are people in this world, some right here on ATS, that don't think we will stand up for ourselves. Or they think we are not capable. They have no idea what American resolve is.

They will learn. Hang in there. It looks hopeless but we will win in the end. Despite of those that don't want us to.

[edit on 3/10/2009 by Genfinity]

I found this video to be interesting even if this not so quickly kick in and we get by. There is one more story. That is the legal civil court cases coming from the S & Ls of from 1989-92. The first of the two massive cases would be likely in 2012. The other years later.

In the mid 1970s with the shortages federal law is that you can keep 90 day supply of food and water. Anything over that is concidered food hoarding. Clearly that was in the days of before Costco and a different world. However when pressed police (or any one) would rather brake down your door than to go hungry.

With an massive economic down turn will come corruption of all laws big time. Cities have no money for police, fire, courts, jails, trash piickup, electric and water service.

People still don't get it. We have a FIAT money system in which the govt can expand the money supply by bookkeeping entries whenever it wants. That's what they'll do to save the FDIC just like they're doing it with the banks. And it will likely lead to hyper-inflation down the road.