Rapture verdict ad 1
The Beginning Of The End Ad
Gold Buying Guide: Golden Eagle Coins

Recent Posts

Archives

Michael and Meranda's New Show

Michael & Meranda’s New Show

Food for liberty
Economic Collapse DVD The Preppers Blueprint Economic Collapse Blog Get Prepared Now Ad

FDIC Opens A Massive New Office Near Chicago Just To Handle The Coming Tidal Wave Of Midwest Bank Closings They Are Expecting

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

Is the Midwest about to see a massive wave of bank closings?  That is apparently what the FDIC is expecting.  The FDIC is opening up a massive new satellite office in the Chicago area that will be dedicated to managing receiverships and liquidating assets from failed Midwest banks.  This new facility will occupy 7 floors in an 11 floor building.  The office space that the FDIC is leasing is well over 100,000 square feet and will employ approximately 500 temporary employees and contractors.  This is a huge expenditure by the FDIC.  So will there really be so many bank failures over the next couple of years in the Midwest that a 100,000 square foot facility is required to deal with it?

Apparently someone at the FDIC thinks so.

But this is not the first time the FDIC has done something like this.

The FDIC has already opened similar offices in Irvine, California and Jacksonville, Florida.  Each time, the number of bank failures in those states increased dramatically after the FDIC opened those facilities.

So what is going to cause such a massive wave of bank failures that the FDIC will need hundreds of new employees just to deal with it?

Well, as we have reported previously, the financial powers in the U.S. are now moving to reduce the money supply, hoard cash and tighten credit.  All of those things cause a slowdown in economic growth.

At the same time, a gigantic “second wave” of adjustable mortgages is scheduled to reset starting this year.  This could push the U.S. economy into “part 2″ of the housing crisis.  Just check out the chart below….

In fact, one new study has been released that estimates that 5 million houses and condominiums on which mortgages are now delinquent will go through foreclosure and be put on the market within the next few years.

Another devastating housing crisis would absolutely destroy the vast majority of small to mid-size banks in the United States.  In such a scenario, the FDIC would definitely be able to make use of the new facilities that they are opening up around the United States.

There are even rumors that the big bankers do not intend for most small and mid-size bankers to survive the coming crisis.  There are whispers that the big bankers see all of this economic turmoil as a great opportunity to “consolidate” the banking industry.

So what should you and your family do to get prepared?  Get out of debt and get rid of any unnecessary expenses.  Try to start developing alternate streams of income and come up with a plan for what you will do if you lose your job.

The reality is that hard times are coming and a lot of people are going to lose their homes and their jobs.  Don’t just blindly trust “the system” – now is the time to make sure that you and your family will be prepared even if a total economic collapse happens.

  • BD

    I dont think the Irvine office is even 100% up yet also. SoCal and SoFL are effed.

  • Stu Lowndes

    Posted!

  • WOLF

    FDIC Insurance Fund – It Doesn’t Actually Exist
    http://seekingalpha.com/article/95129-fdic-insurance-fund-it-doesn-t-actually-exist
    When FDIC head Shelia Bair says her agency might have to bolster the FDIC’s insurance fund with Treasury borrowings to pay for the new spate of bank failures, a lot of us, this 40-year banking veteran included, assumed there’s an actual FDIC fund in need of bolstering.

    We were wrong. As a former FDIC chairman, Bill Isaac, points out here, the FDIC Insurance Fund is an accounting fiction. It takes in premiums from banks, then turns those premiums over to the Treasury, which adds the money to the government’s general coffers for “spending . . . on missiles, school lunches, water projects, and the like.”

    The insurance premiums aren’t really premiums at all, therefore. They’re a tax by another name.

    Actually, it’s worse than that. The FDIC, persisting in the myth that its fund really is an insurance pool, now proposes to raise the “premiums” it charges banks to make up for the “fund’s” coming shortfall. The financially weakest banks will be hit with the biggest tax hikes.

    Which makes absolutely no sense. You don’t need me to tell you the banking industry is on the ropes. The last thing it needs (or the economy needs, for that matter) is an expense hike that will inhibit banks’ ability to rebuild capital, extend new loans, or both. If the FDIC wants to raise its bank tax once the industry has recovered, I suppose that’s fine. But to raise taxes on the industry now is perhaps the dumbest thing the agency can possibly do. At the margin, the FDIC will be helping bring about more of the failures it says it wants to prevent.

    But this is the government we’re talking about, so logic goes out the window. First, the FDIC insists its mythical bank insurance fund exists, when it really doesn’t. Then the agency does what it can to run the imaginary fund’s finances straight into the ground. Your tax dollars (sorry, “premiums”) at work. . . .

  • robertsgt40

    All by design. We’re headed for one intergalactic bank, World Bank, World Gvt, get it? It’s all about centralization of power and authority. It’s not a coincidence that the world is bankrupt. The moneychangers have spun their web.

  • Claude

    As you put all the pieces of the puzzle together;

    EU in trouble , Greece, Spain, Italy , UK

    US in trouble especially California (north Americas Greece)

    One can see where the system faults….fractional banking system.

    The soon the system crashes the sooner we (through strife) can start a system based on value not preceded value(Fiat Money).

  • Tom

    IF YOU CROSS THE NORTH KOREAN BORDER ILLEGALLY YOU GET 12 YEARS HARD LABOR.

    IF YOU CROSS THE IRANIAN BORDER ILLEGALLY YOU ARE DETAINED INDEFINITELY.

    IF YOU CROSS THE AFGHAN BORDER ILLEGALLY, YOU GET SHOT..

    IF YOU CROSS THE SAUDI ARABIAN BORDER ILLEGALLY YOU WILL BE JAILED.

    IF YOU CROSS THE CHINESE BORDER ILLEGALLY YOU MAY NEVER BE HEARD FROM AGAIN.

    IF YOU CROSS THE VENEZUELAN BORDER ILLEGALLY YOU WILL BE BRANDED A SPY AND YOUR FATE WILL BE SEALED…

    IF YOU CROSS THE CUBAN BORDER ILLEGALLY YOU WILL BE THROWN INTO POLITICAL PRISON TO ROT.

    IF YOU CROSS THE U.S. BORDER ILLEGALLY YOU GET

    * A JOB,
    * A DRIVERS LICENSE,
    * SOCIAL SECURITY CARD,
    * WELFARE,
    * FOOD STAMPS,
    * CREDIT CARDS,
    * SUBSIDIZED RENT OR A LOAN TO BUY A HOUSE,
    * FREE EDUCATION,
    * FREE HEALTH CARE,
    * A LOBBYIST IN WASHINGTON
    * BILLIONS OF DOLLARS WORTH OF PUBLIC DOCUMENTS PRINTED IN YOUR LANGUAGE
    * THE RIGHT TO CARRY YOUR COUNTRY?S FLAG WHILE YOU PROTEST THAT YOU DON?T GET ENOUGH RESPECT

    I JUST WANTED TO MAKE SURE I HAD A FIRM GRASP ON THE SITUATION?

  • John

    Right on Tom! I am a refugee from Kalifornia now living in the United States (midwest). We left four years ago as my wife and I watched home prices in gang infested parts of town sell for 600,000-800,000$. Only a fool could not see what the hell was going on.

  • Roy

    Claude has it right. As long as the fractional reserve and money-as-debt system persists, things will just keep getting worse. The bankers control the money supply, not the Congress as ordained by the Constitution. They are in it to make money, USA or any other country be damned.

    By the way, why do think there are so many illegals from Mexico here? Because the bankers drove Mexico’s economy into the dirt.

  • “Actually, it’s worse than that. The FDIC, persisting in the myth that its fund really is an insurance pool, now proposes to raise the “premiums” it charges banks to make up for the “fund’s” coming shortfall. The financially weakest banks will be hit with the biggest tax hikes.”

    This is essentially a robber-baron move…and a pretty slick one: increase the vulnerability of smaller banks that are already on shaky ground so you can swallow them up when they collapse. It’s just a way for mega-banks to consolidate even further.

  • Eugene

    WAKE UP PEOPLE. This fiat money was put in the system intentionally. The elitists do want to bring in a New World Order and no the conspiracy theorists are not crazy, since now it’s being openly talked about. The New World Order will be nothing more than a feudalistic global system of the very few luciferian elite in control of the masses of sheeple. Remember some good old lessons of that King James Bible. The borrower is ALWAYS SLAVE TO THE LENDER. If they keep you in perpetual debt, you are in fact a perpetual SLAVE. Also remember the tower of Babel will only last 42 months.

  • Armageddon Thru To You

    It gets worse. Watch this short video that explains the outrageous sweetheart deal One West Bank got to acquire the assets of Indymac.

    http://tinyurl.com/yg6llh3

    P.S. I think Soros is connected to One West Bank

  • levotb

    “Get out of debt”? You gotsta be kidding! What an insulting statement to make! You wanna provide me the clients I used to have before the poop hit the fan so I can salvage my very small business? Right.

  • The bigclownhunter

    We got one more election cycle to slow this train down…elect these same snakes again..and we’re done!

  • jmb27

    Predatory Lending is a major contributor to the economic turmoil we are currently experiencing.

    Here is an example of what I am talking about:
    Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.)

    Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
    “Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM.”

    The Center for Responsible Lending says YSP “steals equity from struggling families.”
    1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.

    http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F

  • El Polako

    @TOM

    This border meme is all over the Internet at the moment… and really, it’s simply moronic. And I know I shouldn’t feed the trolls, but why not try:

    IF YOU CROSS THE IRAQI BORDER ILLEGALLY YOU GET
    * AN UNWINNABLE WAR WHOSE COST RUNS IN THE HUNDREDS OF BILLIONS OF DOLLARS AND BANKRUPTS THE US ECONOMY.
    * TO BLAME A MEXICAN DAY LABORER FOR IT
    * AND SOME OIL, OF COURSE.

    And that goes double for Cuba, Vietnam, Afghanistan et al. Yes, America was such a sweet and innocent place till those darn Mexicans came and took all our land. Why cities like Los Angeles, San Francisco, Santa Monica, Santa Barbara and Las Vegas have been pure bred cone-pone yankeedoodledandyland for all time. And that goes for the Native Americans too.

    Why are so many people such ingrate morons?

  • megavarenik

    Gentlemen.

    You’re asking rhetoric questions. Your Mass Media and Government propaganda zombies every single person out of 300 million population.

    It was ridiculous to watch you support your troops devastating Iraq, and believing myths about it’s WMD. And that’s just one example.

    They tell you white is black and black is white, and you blindly believe and abide just like perfect slaves. It is written in bible and torah.

    wake up, people.

  • ann

    For Tom and for everybody who not understand what is going on in the USA read this:
    http://www.discoverthenetworks.org/

Rapture Verdict Ad1
Ready Made Resources 2015
New Self Defense Tool
High Blood Pressure?

Silver.com

Lifestraw
Economic Collapse Investing
Lifesilver
Panama Relocation Tours
The 1 Must Own Gold Stock
The Babylon Code
180x350
Marzulli Gift Offer
Coach David
Solar Wholesale
Karatbars
Another Global Crisis
ProphecyHour
JatoProducts-banner
Facebook Twitter More...