At some point, the financial house of cards will collapse due to the corrupt system which has no foundation, whatsoever. Big Banks Will Take Depositors Money In Next Crash – Ellen Brown Greg Hunter’s USAWatchDog Dec 10, 2014 http://bit.ly/1zURfYu [snip] Brown goes on to say, “Theoretically, we are protected by deposit insurance up to $250,000 in the U.S. and 100,000 euros in Europe. The FDIC fund has $46 billion, the last time I looked, to cover $4.5 trillion worth of deposits. There is also $280 trillion worth of derivatives that the five biggest banks in the U.S. are exposed to, and under the bankruptcy reform act of 2005, derivatives go first. So, they are basically exempt from these new rules. They just snatch the collateral. So, if you had a big derivatives bust that brought down JP Morgan or Bank of America, there is no way there is going to be collateral left for the FDIC or for the secured depositors. This would include state and local governments. They all put their money in these big banks. So, even though we are protected by the FDIC, the FDIC is not going to have the money… [more details in this YouTube video] Ellen Brown-5 Big Banks will Survive Next Financial Calamity-Everybody Else Bankrupt Greg Hunter Dec 9, 2014 https://www.youtube.com/watch?v=Ey20x-VlDYQ
