Doug Casey: "Why the global banking system is in serious trouble"
FDIC insurance covers about $9.3 trillion of deposits, but the institution has assets of only $25 billion.
That’s less than one cent on the dollar.
I’ll be surprised if the FDIC doesn’t go bust and need to be recapitalized by the government.
That money - many billions - will likely be created out of thin air by selling Treasury debt to the Fed.
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http://thecrux.com/doug-casey-why-the-worlds-banking-system-is-in-serious-trouble/
That’s less than one cent on the dollar.
I’ll be surprised if the FDIC doesn’t go bust and need to be recapitalized by the government.
That money - many billions - will likely be created out of thin air by selling Treasury debt to the Fed.
____________________________________________
http://thecrux.com/doug-casey-why-the-worlds-banking-system-is-in-serious-trouble/