posted on Jan, 25 2013 @ 03:37 PM
Actually, this "TAG" program was known to be ending...
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final rule to implement section 343 of the Dodd-Frank
Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 343 provides temporary unlimited coverage for noninterest-bearing transaction
accounts. This separate coverage will become effective on December 31, 2010, and will end on December 31, 2012.
The final rule revises the FDIC’s deposit insurance regulations to include noninterest-bearing transaction accounts as a new temporary deposit
insurance account category. All funds held in such accounts are fully insured, without limit, and this coverage is separate from, and in addition to,
the coverage provided to depositors for other accounts at an insured depository institution.
Noninterest-bearing accounts, as defined in the Dodd-Frank Act, include only traditional, noninterest-bearing demand deposit (or checking) accounts
that allow for an unlimited number of transfers and withdrawals at any time, whether held by a business, individual or other type of
Many argue that there is no more liquidity crisis to merit the continuation of the program, thus much of this wealth is simply being shuffled around
to different account types - depending on the entity doing the shuffling.
The Fed seems to still be squeezing the money supply down (creating more power for them to wield with the politicians) ... as a result - money being
scarcer - the poor will remain poor, the middle class will remain under their yolk, and the upper class will continue to play into the gimmick which
takes the form of making money without producing anything ... It's the Fed's show ... it's called monetary policy and they rule us with it...
thank you Democrat and Republican prostitutes.