Congress has never enacted a provision in law stating that insured deposits are guaranteed by the full faith and credit of the United States.
Congress has never legally guaranteed deposits.
Congress wants people to have “confidence” in the banking system and adopted a joint resolution in 1982 stating that it was the “sense of Congress” that insured deposits were backed by the credit of the United States. However, this resolution never became legal binding.
Nigel Farage: Get Your Money Out Of Banks While You Can”
“There is also concern about the possibility of a breakout of inflation, although current inflation risk is not considered unmanageable, and of anunsustainable bubble in equity and fixed-income markets given current prices.” Uncertainty exists about how markets willreestablish normal valuations when the Fed withdraws from the market. It will likely be difficult to unwind policy accommodation, and the end of monetary easing may be painful for consumers and businesses. Given the Fed’s balance sheet increase of approximately $2.5 trillion since 2008,the Fed may now be perceived as integral to the housing finance system.
Words That May Have Caused Today’s Crash In Stocks
Asteroid fly-by on Friday sparks debate over readiness for ‘Armageddon’-style event
Dow Dumps 270 Points Intraday To Biggest 2-Week Drop In Six Months
This is absolutely spot on, but unfortunately this “liquidationist” path to fixing a problem that should have been addressed five years ago is now a dead end, as Bernanke knows he can not end QE in some interim phase without achieving (runaway) inflation or all that he has “accomplished” for the market, if not the economy will be undone. Even if, ironically, the market crash that results, would be just the debt-liquidating economic catharsis the developed world has been begging for since the advent of central planning.
Oh well. Let’s just hope this time is different.
Stocks Slide On Hindenburg Omen Sighting
The Kids Are (Not) Alright
The single most unemployed region for younger adults in the world is the Middle East, which had a 28.3% unemployment rate for youths in 2012. Women in the region were almost twice as likely to be unemployed as men with a 43.5% unemployment rate – the highest rate by gender, followed by females in North Africa who face a 36.7% unemployment rate. The highest unemployment rate for young males is also in the Middle East, at 25.2%.
Assad’s army demands machine guns, grenade launchers from Russia
Britain To Arm Syrian Rebels; Russia Retaliates By Shipping 10 MiGs To Assad
Meanwhile, In Turkey…
Assad: Arab world ready to join fight against Israel
Vatican organizing worldwide, simultaneous eucharistic adoration June 2
Archbishop Fisichella said the worldwide adoration would “witness to the profound piety found in the church for the Eucharist,” the mystery of the real presence of Christ’s body and blood, which unites and nourishes all Catholics.
Amorth explained that Pope Francis’ exorcism on May 19 helped to balance the growing atheism in the world where people don’t believe in the Devil anymore.
There are two fatal flaws in this fantasy: the $1+ trillion student loan industry and a transforming economy. The higher education industry in the U.S. operates as a central state-enabled and funded cartel, limiting supply while demand (based on the fantasy that a college degree has critical value) soars. This enables the cartel to keep raising prices even as the value of its product (a diploma) sinks to near-zero.
Consumers Most Confident Since 2007, Celebrate By Biggest Spending Drop In One Year
Of course, in perfect ‘correlation’ with this ‘confidence’, these consumers decided that May was the first time in a year to cut spending…
Catalonia firefighters were starting fires rather than putting them out this week during a demonstration held in Barcelona.
All four of the other PIIGS nations now have broken the dismal Maginot Line of 40% youth unemployment with Italy finally joining the club (Italy 40.5%, Portugal 42.5%, Spain 58.2%, and Greece 62.5%).
RECORD UNEMPLOYMENT IN EUROPE-1 IN 4 JOBLELESS
Europe Winning Global Unemployment Race
Merkel and Hollande call for full-time euro President
Obama’s new FBI chief approved Bush’s NSA warrantless wiretapping scheme
Bluffdale, Utah NSA Data Center Privacy of World Citizens Wiped Out by USA
IRS agents carrying shotguns not a big deal?
Upon closer inspection, however, WND learned that the Education Department explicitly will direct the selected contractor to chronicle findings and recommendations gleaned from the Muslim Outreach Summits.
In fact, we “know from experience” that Islam sanctions murder and mayhem in order to establish a new caliphate.
Golan Heights villages brace for war as tensions rise between Syria and Israel
The hi-tech tattoo that could replace ALL your passwords: Motorola reveals plans for ink and even pills to identify us.
Motorola’s forthcoming phones could use electronic tattoos or pills to identify users
Former IRS chief Shulman reportedly visited White House at least 157 times
In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146%
Gen. Vallely: White House in ‘Collusion’ With Other Agencies on Benghazi
25 Signs That Military Veterans Are Being Treated Like Absolute Trash
Gun Homicide Rate Down 49% Since 1993 Peak; Public Unaware
SB 374: California Set To Attack Second Amendment By Demanding Gun Registration
Japan halts imports of U.S. wheat after USDA’s shock finding of genetic pollution from GMOs
MASS FISH DIE-OFF: Hemorrhagic Septicemia – “Massive Die-Off” Of Fish In The Irondequoit Bay In New York!
Wells Fargo forecloses on Florida man for paying his mortgage early
Ancient Egyptian Jewelry Came From Space, Tests Show