We finally got the 2nd quarter report from the FDIC today. Surprising enough, the media is actually reporting information about it. BUT they are not being honest. Yes, they are saying there are 416 banks in trouble, as they failed the FDIC's grading.
What they are using though, is the FDIC amount on hand from June 30th - in their reporting. In other words they are saying the FDIC has X amount of billions of dollars, using how much was in the fund from June. They are NOT being honest and saying the FDIC is underwater at about 5 Billion right now. The media is not mentioning the banks that have been taken over since June 30th, which has been quite a few.
Also, when you hear the number of banks that have been taken over this year (81) and the media says it is not as bad, as the depression and the 80's. They are again Not being honest, they are not saying how many branches and actual locations are involved. Care to take a guess?
Try 3000+ branches of banks, that have actually been taken over by the FDIC this year. That is a lot different than the 81, the media likes to mention.
When people tell me, they won't believe something, until MSM reports on it, I want to say "I will never believe, anything the MSM says - as they are run by the PTB". They have their own agenda and part of that agenda is protecting the government and the PTB, not the people. They are reporting dishonestly to the public.
The fact is, the FDIC does not nearly have enough money to cover what could amount to Trillions of dollars in bank failures.
Link to one article:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aKrqdLil0pGI
A total of 416 banks with combined assets of $299.8 billion failed the Federal Deposit Insurance Corp.’s grading system for asset quality, liquidity and earnings, the most since June 1994, the Washington-based FDIC said in a report today. Regulators didn’t identify companies deemed “problem” banks.
The FDIC insures deposits at 8,195 institutions with $13.3 trillion in assets. The agency is a state-bank regulator that insures bank customer deposits, helps find buyers for failing banks and liquidates lenders that have collapsed.
Did you get that part about 13.3 Trillion dollars?
Oh, I turned on the news (which I don't do anymore) to see what they were saying about the FDIC. I was completely Flabbergasted - when a CNN reporter said "The stock market, did well today, due to the good financial news out". I thought to myself... wow, they really do have people fooled.
Are you listening to those corporations, who benefit from not getting the complete truth to you?
As I see it, they have held off the flood gates very well and have covered the public's eyes to what is really happening here in the U.S.. The problem is, people around the rest of the world, knows what is really going on.
The Fed is buying the U.S. T-bills, in a round about way and not disclosing it.
Information little by little is leaking out about that. What is also happening, is information about how the rest of the world feels about the dollar is starting to see the light of day also in the American press.
link to Wall Street Journal - The rest of the World questions the Dollar
http://online.wsj.com/article/SB125122938682957967.html
Investors and economists have long harbored concerns about the dollar's decline, especially in the beginning of this decade as the federal government and consumers ran up their debtloads to finance everything from foreign wars to flat-screen TVs. Last fall's financial crash suggested that such fears may be overblown: As markets plunged in the wake of the collapse of Lehman Brothers Holdings Inc., investors scrambled to stash their cash in U.S. Treasury bills, perceiving them to be the safest investments. That boosted the value of the U.S. dollar against many of its major counterparts.
Now, though, major investors like Berkshire Hathaway Inc. Chairman Warren Buffett and bond investment firm Pimco fear the government's fiscal and monetary stimulus programs could end up fueling inflation in coming years and hammering the dollar. Higher inflation eats up the returns of bond investments that provide a fixed interest income, making them less attractive to investors. Less demand for U.S. bonds could mean a weaker dollar.
We already know the bonds are not selling well and the Fed is actually buying them, through Central Banks. They are making deals of trades, thus the printing presses are running overtime to print the money up to buy the bonds.
The game can only go on, so much longer. Also, the Shorting game of metals, seems to be getting a little weaker now. The players were profitting over $200 per ounce with their shorts at the end of last year and the beginning of this year. They are now only making around a $80 profit per ounce now. There are still tremendous amounts of shorts against the metals, but the longs are starting to come up stronger.
I would bet, it will be sooner than later, people start getting worried again about the economy and the banking situation, even though the media is not fully disclosing the truth.
Games can only go on for so long, until everyone starts realizing there is a game being played.
Here are my predictions:
The market is going to start a Free fall in about 2 weeks
Gold is probably about at it's lowest point it will ever be again.
(When the game of shorts is up on the metals, they will skyrocket, when people realize too late, they need them to protect themselves 'value of dollar, at this point' - they won't be available)
I will say once again, "If you have not purchased metals to protect yourself, than you are not paying attention to what is Really happening".
Two Words:
Buy Metals (my opinion - Silver is better - actually more rare than gold, used for more things and will have a bigger percentage of increase, thus more money will be made over all).
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