Do You Believe This Lady?
Your money is not your money until the Dumb Masses in some Bureaucracy say it is your money.
Since Bureaucrats are all almost without exception Public School Graduates who can not add, read or write they do not care about you or your money.
If you are like most Americans, your daily existence depends on a complicated logistical supply train supported by a management concept known as “just in time inventory”.
Translated,this means any hiccups in the delivery system and your supplies of food, gas, electricity and various assorted goods and services-medical, financial, et.al can be fatally disrupted within a time frame as short as four days to two weeks.
Here is an excerpt from Denninger’s Market Ticker Analysis of Susie Orman’s FDIC Propaganda:
The FDIC lost most of its $50 billion original stake due to mismanagement, refusal to close troubled institutions, and according to the Office of The Inspector General:
May 21 (Bloomberg) — The Office of Thrift Supervision authorized “inappropriate” backdating of capital by six institutions, including IndyMac Bancorp Inc., that led to “misleading financial reporting,” the U.S. Treasury inspector general said in a report.
The FDIC insures 4.8 trillion dollars in deposits in US banks and thrifts, and yet they have 0.27% – more than two-thirds less than they had a bit more than a year ago – in money to “cover” those deposits.
And finally, it is almost certainly true that should Congress have to print up literally any amount of money, irrespective of whether that printing of raw money drives oil to $300 a barrel, gasoline to $10 a gallon, and bread to $20 a loaf, in order to prevent the FDIC from being able to pay you with (perhaps worthless) dollars, they will – because they understand full well that the alternative could quite easily be that you reach for a pitchfork – or worse.
Read all the gory details here: