FDIC is bankrupt

FDIC is bankrupt. Its not disclosed. They dont have any insurance to Banks. Put your cash under your bed, walls, like our forfathers. Your CDs and deposits are not protected, its a myth. If the public knew the FDIC truth, its broke also their would be PANIC!

The next administration

The next administration---whether it's McCain or Obama---will be forced to restore the Resolution Trust Corp., which was created in 1989 to dispose of assets of insolvent savings and loan banks.

The RTC would create a government-owned management company that would buy distressed MBS from banks and liquidate them via auction. The state would pay less than full-value for the bonds (The Fed currently pays 85 per cent face-value on MBS) and then take a loss on their liquidation.

Commercial real estate

Commercial real estate is following the same downward trajectory as residential housing. They're both headed for the bottom of the fish-tank. Any slump in CRE will send unemployment skyrocketing while adding to the solvency problems facing the banks.

Banking System

The amount of stress on the banking system is unprecedented. The Fed is loaning out money hand-over-fist just to keep the scaffolding in place. Take a look at what is going on at the Fed's so-called "auction facilities" where the Fed is providing loans and US Treasuries for "unsellable" mortgage-backed junk and other toxic bonds. The numbers are staggering.

IRA

I hate to brag, but I converted my entire IRA to cash yesterday because a friend in high Chinese places emailed me about 3 days ago.

That looks like a $84k move. My shoulder is almost out of joint.

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Getting out fo Debt, and Vacationing

A new moth, more relaxation. You too can get out of debt and enjoy vacation time. Just save up your vacation time by working hard, and then enjoy once you're debt free!


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