Hat tip to Mary Malone for sending this excellent Ann Barnhardt post to me. If you want to keep believing the money you have in your bank account is safe, please do not read this. Keep living the dream.
FDIC Statistics: Read ‘em and Weep
Just following up with citations and illumination on the whole propaganda meme that is the FDIC, because, as far as I can tell, the vast majority of people think that the FDIC is a magical, omnipotent entity that has infinite resources and will magically swoop in to “take care of them” like a magic flying unicorn.This is what happens when you have a civilization filled with emotional children with exactly ZERO critical thinking skills. You have to hand it to the Communist infiltrators. They did a damn good job of brainwashing and psychologically destroying four generations of human beings.
Per the Q4 2011 FDIC Chief Financial Officer’s report to the Board, published on March 30, 2012, the FDIC’s Deposit Insurance Fund had a balance of $11.8 billion dollars.
Bank deposits in the United States at the same time are estimated to be between $8 TRILLION and $10 TRILLION. Let’s be conservative and say the number is $8TTT.
11,800,000,000 divided by 8,000,000,000,000 equals 0.001475, which I will round UP to 0.0015.
That is read as “fifteen hundredths of one percent”. It isn’t one percent, it is fifteen hundredthsof one percent. That is how much the FDIC is carrying to back all of those little signs on the teller windows that say “Each Depositor insured to at least $250,000. Backed by the full faith and credit of the United States government.”
But hey! It could be worse! Back in 2009 the FDIC was completely insolvent – IN THE HOLE. So what they did was to force all of the banks to pay three years worth of premiums upfront in one year, in order to replenish the fund.
Now, let’s review some other statistics as of June 30, 2011:
JP Morgan: Total Assets $1.8 TTT Total Derivatives Exposure: $78 TTT
Citibank: Total Assets: $1.2 TTT Total Derivatives Exposure: $56 TTT
Bank of America: Total Assets: $1.4 TTT Total Derivatives Exposure: $53 TTT
Top 25 commercial banks: Total Assets: $8.3 TTT Total Derivatives exposure: $249 TTT
And the FDIC has . . . $11.8 billion.
I’m sorry, what were you saying about how I’m full of crap because it says right there on the sign at your bank that your deposits are guaranteed by the FDIC?
If you believe that, you are stupid. Period. End of story. And at a certain point, you are responsible for your stupidity, and thus if you wallow in your stupidity, you will deserve whatever calamity befalls you as a result.