BIG DEPOSIT: This could end up as one of the largest suburban leases of the year, but it can't be good. The Federal Deposit Insurance Corp. has leased 150,000 square feet, the entire building, at the Woodfield Corporate Center, 200 N. Martingale in Schaumburg. The federal guarantor of bank accounts needs what it calls a "temporary Midwest satellite office" as it processes receiverships and asset sales involving Midwestern banks. The FDIC said it will move in beginning in March and that the office will have up to 500 workers(Schaumberg just outside of Chicago, to the northwest). It doesn't take a genius to read into the meaning of this. I think we can expect a surge in bank failures throughout the rust-belt region this year. If you keep more than a checking account with enough money to pay your bills each month, it would probably be a good idea to either move your money to a too-big-to-fail bank or, even better, pull your money out and buy gold and silver bullion with it.
A reader in the comment section inquired about other FDIC "satellite" offices that have been opened: "The FDIC has similar offices in Irvine, Calif., and Jacksonville, Fla., and the number of bank failures in those states picked up dramatically after the FDIC opened those quarters. Here's the link from the Chicago Tribune: LINK
This also means that we can expect the FDIC to receive massive funding from Banana Ben's printing press via the U.S. Treasury.
0 comments:
Post a Comment