{"id":35336,"date":"2024-03-25T10:21:22","date_gmt":"2024-03-25T17:21:22","guid":{"rendered":"https:\/\/www.itmtrading.com\/blog\/?p=35336"},"modified":"2024-04-02T22:08:17","modified_gmt":"2024-04-03T05:08:17","slug":"fdic-alert-more-bank-failures-less-backup-cash-are-your-deposits-in-danger","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/fdic-alert-more-bank-failures-less-backup-cash-are-your-deposits-in-danger\/","title":{"rendered":"More Bank Failures, Less Backup Cash &#8211; Are Your Deposits In Danger?"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">Are your savings truly safe? Uncover the shocking truth: a drained FDIC fund, secret problem banks, and power consolidation within megabanks.<\/p>\n<p data-pm-slice=\"1 1 []\"><strong>VIDEO SUMMARY:<\/strong><\/p>\n<ul class=\"list-disc pl-8 space-y-2 -mt-1\">\n<li class=\"whitespace-normal break-words\">The FDIC deposit insurance fund is drained, struggling to recoup losses from recent bank failures<\/li>\n<li class=\"whitespace-normal break-words\">Banks and the FDIC operate on a fractional reserve system, with banks not required to keep deposits on hand and the FDIC only keeping 1.35% of insured deposits<\/li>\n<li class=\"whitespace-normal break-words\">The government&#8217;s confidential &#8220;problem bank list&#8221; doesn&#8217;t accurately represent the number of banks in trouble<\/li>\n<li class=\"whitespace-normal break-words\">FDIC bank rescue practices lead to a consolidation of power and wealth within megabanks, which are concentrated and riddled with risky bets and toxic assets<\/li>\n<li class=\"whitespace-normal break-words\">The banking system is at risk of collapse, and the FDIC is ill-equipped to handle the failure of even mid-sized banks<\/li>\n<li class=\"whitespace-normal break-words\">In a crisis, depositors face the risk of being &#8220;bailed in,&#8221; with banks freezing accounts and taking deposits to make themselves whole<\/li>\n<li class=\"whitespace-normal break-words\">Storing wealth in cash in the current system carries serious risk, and it&#8217;s crucial to explore ways to protect your finances outside of the system<\/li>\n<\/ul>\n<p data-pm-slice=\"1 1 []\"><strong>CHAPTERS:<\/strong><\/p>\n<p data-pm-slice=\"1 1 []\">00:00 Events Risking Your Deposits<br \/>\n02:26 Draining Funds<br \/>\n03:42 Problem Bank List<br \/>\n05:24 Megabank Takovers<\/p>\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"544df54f-d054-49f2-ab99-bc460725f129\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p><strong>SOURCES:<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/time.com\/personal-finance\/article\/what-is-fdic-insurance\/\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/time.com\/personal-finance\/article\/what-is-fdic-insurance\/<\/a><\/p>\n<p><a href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-jones-03-08-2024\/card\/nycb-left-off-fdic-s-problem-bank-list-a-sign-regulators-were-behind-the-curve-again-rOs9esssuAoaMi7z6BY2\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-jones-03-08-2024\/card\/nycb-left-off-fdic-s-problem-bank-list-a-sign-regulators-were-behind-the-curve-again-rOs9esssuAoaMi7z6BY2<\/a><\/p>\n<p><a href=\"https:\/\/www.americanbanker.com\/news\/banks-knock-fdic-over-growing-tab-for-last-years-failures#:~:text=The%20Federal%20Deposit%20Insurance%20Corp,that%20calculation%20to%20%2420.4%20billion\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.americanbanker.com\/news\/banks-knock-fdic-over-growing-tab-for-last-years-failures#:~:text=The%20Federal%20Deposit%20Insurance%20Corp,that%20calculation%20to%20%2420.4%20billion<\/a> .<\/p>\n<p><a href=\"https:\/\/www.ft.com\/content\/e1ce2ba6-89e3-4132-8061-02120cf8165d\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.ft.com\/content\/e1ce2ba6-89e3-4132-8061-02120cf8165d<\/a><\/p>\n<p><a href=\"https:\/\/www.jdsupra.com\/legalnews\/gao-report-calls-for-fdic-fed-to-fix-3080990\/\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.jdsupra.com\/legalnews\/gao-report-calls-for-fdic-fed-to-fix-3080990\/<\/a><\/p>\n<p><a href=\"https:\/\/www.fdic.gov\/news\/board-matters\/2023\/2023-11-16-notational-mem-d.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/www.fdic.gov\/news\/board-matters\/2023\/2023-11-16-notational-mem-d.pdf<\/a><\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-07\/banks-face-extra-4-1-billion-fdic-bill-for-last-year-s-failures\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.bloomberg.com\/news\/articles\/2024-03-07\/banks-face-extra-4-1-billion-fdic-bill-for-last-year-s-failures<\/a><\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-07\/fdic-says-problem-bank-list-grew-by-8-lenders-last-quarter\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.bloomberg.com\/news\/articles\/2024-03-07\/fdic-says-problem-bank-list-grew-by-8-lenders-last-quarter<\/a><\/p>\n<p><a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/reservereq.htm\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.federalreserve.gov\/monetarypolicy\/reservereq.htm<\/a><\/p>\n<p><a href=\"https:\/\/www.fdic.gov\/analysis\/quarterly-banking-profile\/fdic-quarterly\/index.html\" data-inline-card=\"\" data-card-data=\"\" target=\"_blank\" rel=\"noopener\">https:\/\/www.fdic.gov\/analysis\/quarterly-banking-profile\/fdic-quarterly\/index.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are your savings truly safe? Uncover the shocking truth: a drained FDIC fund, secret problem banks, and power consolidation within megabanks. [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":35337,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2684],"tags":[3536,3537,3538,3539,3540,3541,3542,3543,3544,3545],"class_list":["post-35336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-taylor-kenney-itm-trading","tag-fdicfails","tag-bankingcrisis2024","tag-protectyourdeposits","tag-systemfailurealert","tag-bankingconsolidation","tag-toxicassetsrisk","tag-illiquidfdic","tag-bailinnotout","tag-financialsafetynet","tag-beyondthesystem"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/35336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=35336"}],"version-history":[{"count":4,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/35336\/revisions"}],"predecessor-version":[{"id":35370,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/35336\/revisions\/35370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media\/35337"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=35336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=35336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=35336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}