The modern banking industry is a scam.
By making a deposit you are loaning your hard-earned savings to a bank, for which they pay you a whopping 0.1% interest (maybe).
In some parts of the world they now even charge you interest for the privilege of loaning them your money.
Banks then take your hard-earned savings and gamble it all away on the latest investment fad, no matter how stupid and destructive it might be.
When they screw up, they’re deemed ‘too big to fail’, and the government steps in to in-debt future generations who won’t even be born for decades in order to bail out the banks’ stupidity.
Banks are also unpaid government spies and are required by law to rat you out to federal agents should they decide in their sole discretion that what you are doing with your own money is “suspicious”.
Banks have no loyalty to the customer. They serve their government masters first and foremost.
Should some government bureaucrat so much as make a phone call, they will freeze you out of your life’s savings in a heartbeat.
As if that isn’t bad enough, banks are basically insolvent.
The good old days of cash reserves and money that is backed by the FDIC is long gone.
If you don’t believe me, try it for yourself. Walk into your local bank and request the withdrawal of your money.
The truth is that banks no longer have your money.
In today’s podcast we explore how the banking system is on a crash course with collapse.
A must listen for anyone with significant cash reserves stored in insolvent banks.