One thing no one is talking about during this massive banking collapse, will the FDIC survive? Well in fact, the chances of the FDIC surviving the collapse are just as high as the US Government not going bankrupt. When over 50% of all US Banks will have disapeared within the next few year, the FDIC will be domed to fail!
There is no possible way the FDIC will be able to bail everyone out, no one has the guts to talk about it, but we will not be able to print our way out of this depression, it never happened anywhere in the world throughout history. Once Uncle Sam’s runs out of Chineese lenders, they will start printing more dollars, out of desperate measures, trying to inject capital into our failed economy.
But it will not work, you cannot print your money out of a resession or depression! They couldn’t do it in Serbia, they couldn’t do it in Argentina, nor in Zimbabwe…and even less in the US where there are little manufacturing left…the FDIC is doomed to fail through this crisis, mark my words.