Some things are getting lost amidst all the current discussions about the dreaded financial cliff, which is a result of America's fast-rising federal debt, a debt that is shaking the economic foundations of this nation.
There's another "cliff" - a dangerous precipice - involving Federal Deposit Insurance Corporation coverage of your deposits at banks: Beginning January 1, the federal government will rescind the "temporary unlimited coverage for non-interest- bearing transaction accounts."
What does that indicate? Well, it means that the government will be free to roll back unrestricted insurance on your accounts to the basic $ 250,000 limitation. And it also means that, upon expiration, you'll have to make a decision whether or not to move your cash somewhere else -- or merely accept that your deposits will be converted from a government credit risk to a risky unsecured bank credit.
This is simply an additional crack in the crumbling dike between the U.S. economic situation and monetary oblivion. It's an extremely distressing change for perspicacious individuals who are investors.
We recommend that you take advantage of this precipitous disappearance of federal insurance by shifting your now-uncovered funds into the only really reliable investment instruments for these times: gold and silver.
The "temporary" increased FDIC insurance coverage was instituted in October, 2008, throughout the worldwide financial collapse, as a way for the U.S. government to attempt to stem just what might have been a disastrous run on American banks. The infamous Dodd - Frank Act of financial reform extended this coverage only until the end of this year.
So here's an example from the FDIC website of exactly what will happen: If after December 31 a depositor has actually $ 500,000 deposited in a noninterest - bearing checking account and $ 250,000 deposited in a certificate of deposit, or have an overall down payments of $ 750,000, the depositor would be insured for around $ 250,000 and uninsured for the larger remaining balance of $ 500,000.
Congress could extend the coverage, but analysts believe that is unlikely - especially given all the other, more urgent, fiscal matters on its overloaded plate this month.
Some experts think that the majority of capitalists will react to the disappearance of this security blanket by choosing to turn their funds into money-market funds and short-term bonds.
We understand that our clients-- and potential brand-new clients-- are smarter than that. Take this opportunity to secure these now-uninsured funds in God's silver, gold and precious metals from. It's actually the only protected investment you can make anyway.
There's another "cliff" - a dangerous precipice - involving Federal Deposit Insurance Corporation coverage of your deposits at banks: Beginning January 1, the federal government will rescind the "temporary unlimited coverage for non-interest- bearing transaction accounts."
What does that indicate? Well, it means that the government will be free to roll back unrestricted insurance on your accounts to the basic $ 250,000 limitation. And it also means that, upon expiration, you'll have to make a decision whether or not to move your cash somewhere else -- or merely accept that your deposits will be converted from a government credit risk to a risky unsecured bank credit.
This is simply an additional crack in the crumbling dike between the U.S. economic situation and monetary oblivion. It's an extremely distressing change for perspicacious individuals who are investors.
We recommend that you take advantage of this precipitous disappearance of federal insurance by shifting your now-uncovered funds into the only really reliable investment instruments for these times: gold and silver.
The "temporary" increased FDIC insurance coverage was instituted in October, 2008, throughout the worldwide financial collapse, as a way for the U.S. government to attempt to stem just what might have been a disastrous run on American banks. The infamous Dodd - Frank Act of financial reform extended this coverage only until the end of this year.
So here's an example from the FDIC website of exactly what will happen: If after December 31 a depositor has actually $ 500,000 deposited in a noninterest - bearing checking account and $ 250,000 deposited in a certificate of deposit, or have an overall down payments of $ 750,000, the depositor would be insured for around $ 250,000 and uninsured for the larger remaining balance of $ 500,000.
Congress could extend the coverage, but analysts believe that is unlikely - especially given all the other, more urgent, fiscal matters on its overloaded plate this month.
Some experts think that the majority of capitalists will react to the disappearance of this security blanket by choosing to turn their funds into money-market funds and short-term bonds.
We understand that our clients-- and potential brand-new clients-- are smarter than that. Take this opportunity to secure these now-uninsured funds in God's silver, gold and precious metals from. It's actually the only protected investment you can make anyway.
About the Author:
Want to find out more about gold and silver, or visit Anne Trimble's site to read her candid autobiography Faith Through The Flames.
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