The FDIC

Remember when the FDIC backed the money in a bank account for $100,000.00 and we all thought that was a large amount of money. Man, have times changed.

Now that the country is in what the President terms an Economic Crisis, when everyone is supposed to have less money, and when the President has labeled those who make more than $250,000.00 as rich; the FDIC has raised the insurable amount to that same $250,000.00.

SO, now that we aren’t supposed to have any money, the federal government has decided to insure us to the amount of someone who is rich. GOSH, I feel better already.

Now consider this. In a recent evaluation of United States Bond status, given the federal governments current record-setting pace for debt creation, U. S. Bonds are expected to lose their Triple A status in the next year or two. Those same bonds would fall to Single A status as soon as 2020 and reach Junk Bond status by 2030. AWESOME huh?

My Favorite part of this whole mess is still the motto of the FDIC, “Backed By The Full Faith and Credit of the United States Government.” Somehow, that doesn’t make me feel near as comfortable as I did when the FDIC only insured us for $100,000.00.

I’ll take my money is large bills please,
Bill