Wednesday, February 27, 2008

FDIC to Add Staff as Bank Failures Loom - WSJ.com

In banking the cardinal rule is never let the depositor know the cash drawer is empty. But it would seem from this report they haven't kept that secret from the bank examiners. So if we are coming to the twinkle toes up phase of this financial massacre how will it play out is the question. We'll if history is any guide..behind closed doors. And since all our money at this time is just numbers and faces printed on expensive paper fear not as we.... will get ours if the front door is locked. Of course their are both limits as to what we might get and when as well as how it might effect our liquidity and credit especially if you have a business account. Could your business function with out that account? Do you have other lines of available credit that you could draw from? Using more than one bank maybe prudent when we begin to notice the Treasury stepping in and then trying to transfer the banks accounts on to other banks. But the printing presses are ready and canned messages of reassurance have been written. And of course the life long conditioning that it can't happen here...because we are Americans and we all remember Jimmy Stewart. And lets all try and forget the S&L and the early eighties. We'll I'm not so sure of all that reassurance as this just maybe a different movie. But one thing is for sure how ever they tell us this is being managed by them it's all very iffy. But do be sure we will continue to experience increasing INFLATION in an ongoing national RECESSION. So don't panic but also don't trust them as it is only real as long as we continue to all agree we are going to play. So what happens if the Chinese (Dear friends) get up from the table and not only don't want to play any longer. But also take the stack of chips with them? So this is not next week but the dollar dropped again today to 74.25 while the euro and yen along with the loony(bird) became air born.

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