What would occur if your internal bank failed? Scott Pelley as well as “60 Minutes” were since unusual access, as the Federal Deposit Insurance Corporation moves in to take over the unsuccessful bank in Chicago.
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I have never personally witnessed an FDIC takeover, but I know everyone involved has some unsettled feelings.
The FDIC is a very good “insurance” policy in place and to limit losses to you and bank depositors their tactics are aggressive, but necessary. The timing involved with the takeover is very swift (overnight) and balancing an entire bank is extremely taxing and exhausting.
I hope and pray the number of failing banks comes to and end soon & we move forward but never forget!!!
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Answering the ones that are remotely controversial:
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3) The US governments ability to levy taxes, keep non-state counterfeiting under control and enforce legal tender laws.
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5) It’s a mish-mash of public and private.
Man I went thru one of these as an employee. It was not fun. FDIC people were very rude and treated all of us even the tellers as criminals.
Just ask Iceland how reliable the guarantees of americans are…lol. Take your money out of the bank (if your not already going into bankruptcy) and buy gold/silver and food. If your govt refuses to back your money with REAL assets then it’s up to YOU to do it. If u trust your govt to handle your money then I guess u will have alot more u.s toilet paper in 4years…use your common sense folks, your being raped*
i cant wait for the valentine that scott pelley will give to ben bermonkey on 60 minutes tonite,,,,,,they’ll be going steady i’m sure!
The $ isnt back by shit. And the time will come when China & Japan will not loan the US shit because the $ has no value.
Them big banks: Citi, B of A, Chase and HSBC are in $170 trillion debt so there is no bailing them out and this bank bail out shit is a wait of money and time.
1) Republic
2) Democracy – public has direct vote on each issue. Republic – public elects representatives to legislate issues.
3) Faith in the US dollar. Nixon ended the gold standard.
4) Fed Reserve is made up of 12 districts in the US. Each district is owned and funded by the banks head quartered in that region.
5) Although the Fed is owned by the banks, the appointed Chair of the fed board reports to congress and the president of issues. Quasi-private/governemnt
1) Republic
2) Democracy – public has direct vote on each issue. Republic – public elects representatives to legislate issues.
3) Faith in the US dollar. Nixon ended the gold standard.
4) Fed Reserve is made up of 12 districts in the US. Each district is owned and funded by the banks head quartered in that region.
5) Although the Fed is owned by the banks, the appointed Chair of the fed board reports to congress and the president of issues. Quasi-private/governemnt
to anyone who can answer:
1) is the USA a free democracy or a federal republic?
2)What is the difference?
3) what is the US dollar backed by?
4) who owns the federal reserve?
5)who controls the federal reserve?