It is official. America is not in a Recession. We are Officially repeating History with The Great Depression Part 2 under the Dictator Obama. Why do we say that? Read the writing on the walls people. Soon after the Stock Market Crashed in 1929 there was a huge run on banks as depositors withdrew their money and it looks like it is all happening again. Unemployment is soaring and the stock market will be crashing soon as it will collapse from its artificially pumped up averages. Need proof of that? A great indicator is Apple. Apple which is listed on the NASDAQ was trading at an all time high at over $700 per share recently and is now at $439 per share as of Friday January 25th. Does that sound like economic growth? Exxon-Mobil has surpassed them as top dog in company valuation as a result. Get ready America for more massive employment layoffs in 2013 and more as Socialism destroys America under the Dictator Obama and his Regime of Evil. Here is more on the demise of our country. Please Share this...
US Banks Suffer Huge Deposit Withdrawals
The US Federal Reserve is reporting massive deposit withdrawals from US Banks. The national banking system hasn’t seen such an immense fund outflow since 9/11.
The first week of January 2013 has seen $114 billion withdrawn from 25 of the US’ biggest banks, pushing deposits down to $5.37 trillion, according to the US Fed. Financial analysts suggest it could be down to the Transaction Account Guarantee insurance program coming to an end on December 31 last year and clients moving their money that is no longer insured by the government.
The program was introduced in the wake of the 2008 crisis in order to support the banking system. It provided insurance for around $1.5 trillion in non-interest-bearing accounts with a limit of $250,000. It was aimed at medium and small banks as the creators of the program believed bigger banks would cope with the crisis themselves.
So the current “fast pace” of withdrawal comes as a surprise to financial analysts because the deposits are slipping away from those banks which supposedly were safe. Experts expected savers in small and medium banks would turn to bigger players come December 31.
http://www.thedailysheeple.com/us-banks-suffer-huge-deposit-withdrawals_012013
