Replies to post #19439 on Economic Collapse

[al44]

EarlyOne- I have read previously and I can't provide a link, that the FDIC has only enough money to cover 1% of actual insured deposits. In the event of a bail in and depositors monies are used and the FDIC fund runs dry I don't know what may happen. I would venture a guess that the whole banking system would collapse as all trust in the system would evaporate and people would pull all their money out of banks. When the bail in became a byword in the Greecian banking tragedy I knew it would cross the Atlantic and it has. And thanks to our wonderful elected representatives our bank balances are behind derivative losses when the payouts start.

........al