Banks Failing Again!
If you thought bank failures in the United States were a thing of the past, think again.
Josh Sigurdson reports that the latest collapse came from Oklahoma-based First National Bank of Lindsay, where only half of their uninsured deposits were covered by the FDIC. Says Sigurdson, “We’re seeing the FDIC cover less and less with each passing bank collapse as the system that’s been entirely papered over for a decade and a half crumbles.”
The majority of banks have less than a one-percent cash to deposit ratio making them insolvent and unable to get bailed out by the government anymore. Sigurdson welcomes Mark Gonzales, of First National Bullion, to discuss the financial chaos across the country, and more.
