FDIC Could Go Red

Some months ago we posted that the FDIC only had $.70 (yes, that's 70 cents) in reserves for every $100 that they were on the hook for at banks across the country. They have nothing in reserves because they figured they can always print more money (which is free) if they needed more to bail people out.

Today this headline builds on the Ponzi scheme that is being revealed within the Federal government;

FDIC COULD SINK INTO THE RED

NEW YORK — The government agency that guarantees you won't lose your money in a bank failure may need a lifeline of its own.
The Federal Deposit Insurance Corp. coffers have been so depleted by the epidemic of collapsing financial institutions that analysts warn it could go red by the end of this year.

Read full article here; http://www.azstarnet.com/allheadlines/306552

Again, are we doing what Christ commanded which is to place our treasure in heaven where moth and rust will not destroy?