Excellent Article about what is about to occur. Especially helpful is last section regarding how to prepare for what is to come.
Saturday, November 28, 2009
Is the Bubble About to Burst?
Yes, it's true! The Federal Deposit Insurance Corporation (FDIC), the organization that "insures" your bank deposits, is officially broke. It ran out of money in early October due to the large number of banks that are continuing to fail.1 This news came in spite of the fact that the FDIC had raised its rates to member banks earlier in the year in an attempt to shore up its dwindling reserves.
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