Hedge Your Assets!
July 12th 2008 17:31
When I was a stockbroker, I knew that the FDIC hadabout $0.04 backing every dollar that it insured. I don't know what the ratio is today. I do know that Indymac was closed on Friday.
"Federal authorities estimated that the takeover of IndyMac, which had $32 billion in assets, would cost the FDIC $4 billion to $8 billion."
Regulators said deposits of up to $100,000 were safe and insured by the FDIC. The agency's insurance fund had assets of about $52 billion. That would mean it now has assets of $44 to $48 Billion dollars.
Some think before this credit crisis is over 6,000 banks will disappear. Don't be so complacent about the safety of your money that you don't hedge. Read a post I wrote called Manning On iShares COMEX Gold Trust (IAU)
"Federal authorities estimated that the takeover of IndyMac, which had $32 billion in assets, would cost the FDIC $4 billion to $8 billion."
Regulators said deposits of up to $100,000 were safe and insured by the FDIC. The agency's insurance fund had assets of about $52 billion. That would mean it now has assets of $44 to $48 Billion dollars.
Some think before this credit crisis is over 6,000 banks will disappear. Don't be so complacent about the safety of your money that you don't hedge. Read a post I wrote called Manning On iShares COMEX Gold Trust (IAU)
The Street.com’s Mark manning in Technical Outlook: Charting Gold’s Direction likes Gold as a hedge against inflation, a falling USD and political uncertainties. Manning likes iShares COMEX Gold Trust (IAU)
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