Thread: A note of caution for those with deposits in US Banks

Originally Posted by Butterfly

Originally Posted by bkkandrew

was do you think that US State debt doesn't matter?

Actually a good question,

yes it does matter for the state, not the Federal government. But if you are going that route, what about Corporate Debt ? Municipal ? County ? why stop at the state ?

And in England, what about Council debt ? hey what about Football club debt as a collective burden on the local fan base ?

so what's your point with state debt ? should it be included as total debt for Federal Government even though they didn't create the debt in the first place ? The state is NOT the Federal government, I do hope you are not confusing local government with Federal government.

Again, I have to smile, as, in your haste to make a lame joke about football fans, you have not considered the contagen of liability. If you re-read post 269, you will see that a banking liability, turns into a FDIC liability, which then becomes a Treasury liability.