I actually didn't "compare the US to Cyprus", I presented an example of a scenario where the FDIC wouldn't be able to cover their obligations. I never stated whether or not that scenario was possible in the US but perhaps you are forgetting your US history lessons.
http://en.wikipedia.org/wiki/List_of_largest_U.S._bank_failures
Perhaps ask yourself why the FDIC was founded in the first place....oh yes, a pandemic banking collapse occurred.
"The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s."
Do you think that govt or the banking industry learned anything from these historical banking collapses?
Do you think they learned anything from 2008-2010 collapses?
Do you think that's air you are breathing?
To be this stubborn and argumentative there are only two plausible scenarios...firstly, you are simply an asshole and for that you should go on ignore, or secondly you are possibly a paid disrupter like JTRIG but I think that is giving you too much credit seeing your lack of subversive tactics and psychological effectiveness here.
So, you get the only remedy I have to make sure your stupidity doesn't leak into my world...the ignore button.
When you meet one asshole in a day just forget about it...there's nothing you can do about one asshole in the world....if everyone you meet every day is an asshole...well, the asshole is probably you.
Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 88. (Read 907212 times)
FDIC only insures you against the bank walking away with your money in a bankruptcy.
There is no insurance for QE or runaway inflation making your money worthless.
Also, as the above info suggests...in the event of a pandemic banking collapse (see Cyprus) it looks like depositors would only have coverage for about 79% of their deposits anyway since the FDIC is underfunded.
There is no insurance for QE or runaway inflation making your money worthless.
Also, as the above info suggests...in the event of a pandemic banking collapse (see Cyprus) it looks like depositors would only have coverage for about 79% of their deposits anyway since the FDIC is underfunded.
>Comparing US to Cyprus
FDIC only insures you against the bank walking away with your money in a bankruptcy.
There is no insurance for QE or runaway inflation making your money worthless.
Also, as the above info suggests...in the event of a pandemic banking collapse (see Cyprus) it looks like depositors would only have coverage for about 79% of their deposits anyway since the FDIC is underfunded.
There is no insurance for QE or runaway inflation making your money worthless.
Also, as the above info suggests...in the event of a pandemic banking collapse (see Cyprus) it looks like depositors would only have coverage for about 79% of their deposits anyway since the FDIC is underfunded.
...
You are finally going on ignore.
You are finally going on ignore.
Not the ignore button. My only weakness!
You cursed brat! Look what you've done! I'm melting! melting! Oh, what a world! What a world...
Your posts demonstrate that you surely have other weaknesses, and I did watch wizard of oz a lot as a kid.. seems to be fresh in your mind... as well as some funny kid cartoons... HM?
...
You are finally going on ignore.
You are finally going on ignore.
Not the ignore button. My only weakness!
You cursed brat! Look what you've done! I'm melting! melting! Oh, what a world! What a world...
Your posts demonstrate that you surely have other weaknesses, and I did watch wizard of oz a lot as a kid.. seems to be fresh in your mind... as well as some funny kid cartoons... HM?
No. The USD is backed by the full faith and credit of the US government. As are my deposits in real banks, which are insured by the FDIC for at least $250,000.
https://www.fdic.gov/regulations/resources/signage/images/signFDIC.gif
...unlike Bitcoin banks: NeoBee (lol ran), TradeFortress (lol ran), and Ukyo (lol ran), which, unfortunately, are not
So in the event that multiple banks get wiped out again, how do they pay for it? Is there a fund with cash in the bank?
Do any of our alphabet agencies actually have reserves? No they do not. Just look at Social Security--it's a bunch of IOUs.
It's worse.
I am curious about this. What exactly is the meaning of negative numbers in 2009-2010?
To me it indicates that they paid out more money than they had, but where did it come from?
They were 20 bil in the "hole" and still managed it somehow.
There is no FDIC insurance fund. It is just a line in the US Treasury's consolidated accounts. If and when the FDIC needs money then bonds and bills are sold to the Fed (indirectly via the primary dealers, so the TBTF banks can get their free zero-risk percentage, and the law is pretended to be observed). The Fed uses the control-P key to create the cash which is effectively "airdropped" into the economy.
No. The USD is backed by the full faith and credit of the US government. As are my deposits in real banks, which are insured by the FDIC for at least $250,000.
https://www.fdic.gov/regulations/resources/signage/images/signFDIC.gif
...unlike Bitcoin banks: NeoBee (lol ran), TradeFortress (lol ran), and Ukyo (lol ran), which, unfortunately, are not
So in the event that multiple banks get wiped out again, how do they pay for it? Is there a fund with cash in the bank?
Do any of our alphabet agencies actually have reserves? No they do not. Just look at Social Security--it's a bunch of IOUs.
It's worse.
I am curious about this. What exactly is the meaning of negative numbers in 2009-2010?
To me it indicates that they paid out more money than they had, but where did it come from?
They were 20 bil in the "hole" and still managed it somehow.
As are my deposits in real banks, which are insured by the FDIC for at least $250,000.
...unlike Bitcoin banks: NeoBee (lol ran), TradeFortress (lol ran), and Ukyo (lol ran), which, unfortunately, are not
...unlike Bitcoin banks: NeoBee (lol ran), TradeFortress (lol ran), and Ukyo (lol ran), which, unfortunately, are not
Or you can chose a respectable Bitcoin bank like www.circle.com which insures all deposits through Marsh Insurance. No artificial $250k limit either.
Please, let's not promote Circle for what it is not. Even when dealing with trolls we have to be honest, at least amongst ourselves.
I have been very supportive of the company but in no way does their "theft" insurance compares to a FDIC insured deposit.
As are my deposits in real banks, which are insured by the FDIC for at least $250,000.
...unlike Bitcoin banks: NeoBee (lol ran), TradeFortress (lol ran), and Ukyo (lol ran), which, unfortunately, are not
...unlike Bitcoin banks: NeoBee (lol ran), TradeFortress (lol ran), and Ukyo (lol ran), which, unfortunately, are not
Or you can chose a respectable Bitcoin bank like www.circle.com which insures all deposits through Marsh Insurance. No artificial $250k limit either.
...
You are finally going on ignore.
You are finally going on ignore.
Not the ignore button. My only weakness!
You cursed brat! Look what you've done! I'm melting! melting! Oh, what a world! What a world...
Nah. He doesn't suffer fools gladly is all. Everything in your post has been addressed previously, but I'll give you a TL;DR:
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
Why are you shitting up this thread? If you have nothing to say, don't say it.
the irony
...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?
this guy is good. I hope you commend a high salary for such professional trolling
He suffers from selective hearing.
Nah. He doesn't suffer fools gladly is all. Everything in your post has been addressed previously, but I'll give you a TL;DR:
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
Fools eh? Speaking in the third person again?
It makes no difference at all how many zero's they add to fiat currency. But the key is to inflate currency slowly enough that noone notices. After all the economy must grow perpetually to enrich us all!
You are finally going on ignore.
...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?
Dear god, you think liberals give 2 shits about the average joe? Hows that war on poverty with trillions spent, taking from one and giving it to another? Get your god damn hands out of MY pockets to give that money to someone else.
I have NO real problem with wealth distribution to the poor and investment in the infrastructure and other worth while government ventures...
I would NOT classify taking money from the poor to give to the rich as one of those worth while ventures and I also am a bit skeptical the extent to which military spending is turned into profiteering and contractors.. ... I do recognize a need for public servants and public military troops and accountability and all that mumbo-jumbo.. but NOT the profiteering aspects that amount to redistribution of wealth.. upwards.
Nah. He doesn't suffer fools gladly is all. Everything in your post has been addressed previously, but I'll give you a TL;DR:
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
Why are you shitting up this thread? If you have nothing to say, don't say it.
...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?
So good that 35.4% are on welfare.
The 35.4 Percent: 109,631,000 on Welfare
Bro, our welfare cases live better than most of the world. Where you be livin' at, too ashamed to say?
...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?
Shouldn't you be posting your special brand of venom and bile on "USDollartalk.org"?
Oh wait, you don't have one because everyone fucking hates what it represents so much.
The dollar represents wealth. It is the standard all others are measured against, including Bitcoin.
Nah. He doesn't suffer fools gladly is all. Everything in your post has been addressed previously, but I'll give you a TL;DR:
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?
Shouldn't you be posting your special brand of venom and bile on "USDollartalk.org"?
Oh wait, you don't have one because everyone fucking hates what it represents so much.
...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?
Dear god, you think liberals give 2 shits about the average joe? Hows that war on poverty with trillions spent, taking from one and giving it to another? Get your god damn hands out of MY pockets to give that money to someone else.
"The average Joe"? "The liberals"? What brought them to mind?
...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?
this guy is good. I hope you commend a high salary for such professional trolling
He suffers from selective hearing.
Nah. He doesn't suffer fools gladly is all. Everything in your post has been addressed previously, but I'll give you a TL;DR:
Since the dollar is a fiction, an unbacked abstraction created by teh evol banksters, what difference does it make how many zeros they need to add to that fiction? It is no harder to create a billion dollars than it is to create one
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