Bank Stocks 2011
Bank Stocks 2011
More Bank Failures
I’d like to share with you some more information that you could use to help gauge the situation this country is facing, why it matters to you, and what you can do to protect yourself.
Four more banks have failed so far last weekend and have been bailed out by the FDIC. We’re now up to 68 failed banks for 2011.
Public Savings Bank of PA:
Public Savings Bank had approximately $46.8 million in total assets and $45.8 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.0 million.
Lydian Private Bank of Palm Beach, FL:
Lydian Private Bank had approximately $1.70 billion in total assets and $1.24 billion in total deposits. The FDIC and Sabadell United Bank, National Association entered into a loss-share transaction on $907.1 million of Lydian Private Bank’s assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $293.2 million.
First Southern National Bank of Statesboro, GA:
First Southern National Bank had approximately $164.6 million in total assets and $159.7 million in total deposits. The FDIC and Heritage Bank of the South entered into a loss-share transaction on $115.7 million of First Southern National Bank’s assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $39.6 million.
First Choice Bank of Geneva, IL- First Choice Bank had approximately $141.0 million in total assets and $137.2 million in total deposits.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.0 million.
Where does it all end? This scam is the greatest ever hoisted upon mankind. Economic slavery at its finest. “Hey, let’s loan people free money, its okay! We’ll just get the house anyway. But wait, what if we go broke?!? It’s ok, the FED will bail us out.”
And what happens when the Fed has no more tricks up its sleeve…?
We’re moving towards complete digitization of money and credit. When the US stock market collapses and the dollar loses its value, and as the Federal Reserve Bank tries to inflate the money supply even more, be ready for full-blown bank runs. Banks will attempt to limit customer withdrawals to something like $500/day. Just imagine what it will be like if they have a bank holiday to calm the investors and stock market. Can’t take out your money, can’t pay bills, can’t transfer money, etc. Dollars will be revalued much lower and you will see the symptoms of lower worth in the way of HIGHER PRICES! That is, food and gas, whatever you want to pay for, will cost more in dollars.
Best solution for you: be prepared for the worst. There’s nothing wrong with having a stash of food to last an extended period of time. There’s nothing wrong with owning real money like GOLD AND SILVER! These assets were life savers in countries like Argentina when they went through hyperinflation.
Gold has risen 30% this year. Silver has risen 37% this year. These assets are going to continue to appreciate as they reflect the value of the currency in the economy. By the way, just remember that the FED gave out a cheap money in the sum of $16,000,000,000,000 to banks, corporations, and FOREIGN BANKS between 2008 and 2010, as uncovered in a partial audit of the Federal Reserve. That’s sixteen TRILLION, with a T. That’s more than the total US national debt of over 15 trillion. Remember folks, the FED is not federal, it has no reserves, and is not a bank. It is a private, secretive cartel of international banks that front as central banks.
Learn to accumulate silver and gold over time and help yourself to help others as well.
To your wealth,
Mike
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