by Daisy Luther, The Organic Prepper:
The FDIC recently released their quarterly report with some disturbing news: they have a list of “problem banks” that are “near insolvency.” These banks are in trouble because of unrealized losses on securities ballooned from $39 billion to $517 billion.
In a quarter.
Not year over year. Not over a decade. Over a course of three months.
That’s an absolutely shocking increase. Residential mortgage-backed securities are the brunt of the problem. Sound familiar? Remember the subprime mortgage crisis of 2008? When everything went to heck, it was over around a trillion dollars in mortgage-backed securities that caused the bubble to burst. We just went from sort of okay to half a trillion in three months.
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This is a really big deal.
Which “problem banks” are in trouble?
This is where it gets sticky.
We don’t get to know which banks are in trouble.
It could be my bank. It could be yours. Or maybe it’s not.
Are they big banks? Small ones?
The list is confidential to inhibit the likelihood of bank runs finishing off these institutions.
So we just don’t know.
What we do know is that the FDIC has the funds to replace 1.17% of the qualified deposits in America. If your bank goes first, you’ll get your money back after months of waiting. If your bank is further down the line?
Good luck.
We watched this happen with several banks last year, when only 12 were on the brink. Now there are 63.
Last year, we also saw that the FDIC made a plan for a bail-IN using our money. It’s not just me saying it. It’s on the record. There’s a video of the meeting.
What should you do?
If you have savings, it’s time to make it tangible. Honestly, it’s past time. What you invest in gold, silver, land, food, and other preps is yours, and the FDIC can’t touch it to bail-in any banks. If they’re going to keep secrets like this, not letting us know if our money and investments and retirement funds are safe, then we have to be proactive. You can’t just stuff your mattress full of cash. You need to put your money into things that hold its value because if these banks collapse and more countries join BRICS, your dollars won’t hold their value.
I began switching my savings to precious metals a few years back, a little bit at a time. Once your needs are taken care of with preps, you need to plan for your financial future so you can ride this out. I think the coming collapse is bigger than the one in 2008. I watched a family member lose every dime he had saved for retirement back then. At the age of 76, he had to try to find work.
If I learned anything, it was that the banks will do what’s good for the banks. You have to do what’s good for you.
If you want to learn more about how to transfer your savings into tangible metals, contact a consultant at ITM Trading. They will provide you with a free, no-strings consultation, and even if you don’t make the change, you’ll walk away with a lot of information personalized to your situation. You can also give them a call at 866-517-1257.
I wouldn’t recommend waiting around to see if your bank is on that list of 63 problem banks. Because by the time you find out, your money may be gone.
What are your thoughts?
Do you have any guesses as to which banks are in trouble? Are you concerned about your savings and retirement funds? Do you think they’ll manage to kick the can a little further or is this it?
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