In more than a century, there has been practically ZERO evolution in banking. It’s the same con game, the same trickery as it’s always been.
Few people actually realize this. The banking propaganda is so deep that no one ever questions the financial sanctity of his/her bank.
We walk into these ornate buildings with fancy cornerstones that show off how old the bank is.
They conjure images of conservative men in suits scrutinizing every transaction and safeguarding customers’ capital.
They try to make us feel safe by telling us that everything is ‘insured by the government’.
But it turns out that most of this is just myth.
According to its own financial statements, the US government, which ultimately guarantees the whole banking system, is itself insolvent.
The central bank that presides over the banking system is borderline insolvent, again, according to its own financial statements.
And as for the banks themselves, many of them are poorly capitalized and highly illiquid.
JP Morgan and Citi, for example, both maintain fledgling cash reserves that are as little as 3% of total customer deposits. This isn’t exactly conservative.
Bottom line—you should not assume that your bank is safe. Let the data tell the truth. The numbers speak volumes.
In today’s podcast I’ll show you how to evaluate the safety of your bank as your financial custodian. It’s an incredibly important topic that everyone should pay attention to.