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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (87385)	3/17/2013 9:13:58 PM
From: posthumousone	2 Recommendations Read Replies (1) \| Respond to of 119360

Back to important things besides birth control... Soooooo this is just the beginning.....unfortunately the warning is not followed up with what to do Here's The Admission: YOU HAVE BEEN WARNED Here it is folks, *in plain English.* WHEN, not if if happens here do not say you weren't warned. Cypriot officials insisted no levy on smaller depositors was impossible. One senior Cypriot official involved in the talks said that because about 35 percent of all deposits are below the threshold, exempting them would mean a rate so high for the rest that it would no longer be viewed as a tax. "If this is successful then it will be used in the future," said the dejected official, predicting Spanish and Italian banks could face similar levies. "If this is not successful then who cares about Cyprus." That's not a prediction it is a statement of fact, and it will come here too. "IT WILL BE USED IN THE FUTURE" Got that? Your 401k or IRA? It's not yours. They'll steal it, along with your bank account. FDIC and SIPC insurance be damned to Hell. They just admitted that they will do exactly that to bail out their friends who made bad bets and themselves who failed to enforce the law prohibiting these losses from accumulating without the institutions being closed long before you could lose a single penny.

To: Smiling Bob who wrote (87385)	3/17/2013 10:01:30 PM
From: posthumousone	1 Recommendation Read Replies (1) \| Respond to of 119360

Is this true???? If so Holy Shite Reminder for Americans, I think FDIC insurance rules changed as of January 1, 2013. Now, only the aggregate of ALL your accounts is protected by the 'limit', no longer each individual account limit at various institutions. And while trillions are held in deposit accounts, the FDIC only has a few paltry billions to bail out all depositor accounts, and banks like BAC have been allowed to put trillion(s) in toxic assets on the public side of the ledger to be backed by FDIC. All of which means FDIC protection is a myth and Mowhawks for depositors must be on the table if a big bank stubs a toe. Somebody correct me if I'm wrong about the year end changes....