As we near the start of the coming deflationary depression, it is particularly important that you begin to understand the inherent risks in almost the entire banking system worldwide. The pitfalls which lie ahead will engulf the overwhelming majority and in so doing will cause the last such experience on a grand scale (the 1930's) to appear quite pale in comparison. Yet it is still possible if the requisite steps are taken nowto avoid the worst experiences which will surely befall the masses - if you choose to delay action, it will likely be too late!
If you reside stateside and your bank is not listed below, then take action to remedy ASAP. If you reside elsewhere, make every effort to do a proper analysis of its strength/viability. In any event put plans in place to have some of your savings easily accessible elsewhere.
Below is a somewhat lengthy article which I strongly recommend you read in its totality. Here is a brief excerpt which describes the confusion about what banking really is:-
(Confusion comes about due to a magical word: deposit. This word makes it sound as if you have placed your money in the bank for safekeeping. But what you have actually done—as courts have confirmed—is to lend your money to the bank so it can, in turn, lend your money to your neighbors and split the interest with you. It is a speculative business, not a safekeeping institution. In reality, a bank book should not list “money on deposit” but “money lent to our bank, to be paid on demand unless we run short.”)
If you reside stateside and your bank is not listed below, then take action to remedy ASAP. If you reside elsewhere, make every effort to do a proper analysis of its strength/viability. In any event put plans in place to have some of your savings easily accessible elsewhere.
Below is a somewhat lengthy article which I strongly recommend you read in its totality. Here is a brief excerpt which describes the confusion about what banking really is:-
(Confusion comes about due to a magical word: deposit. This word makes it sound as if you have placed your money in the bank for safekeeping. But what you have actually done—as courts have confirmed—is to lend your money to the bank so it can, in turn, lend your money to your neighbors and split the interest with you. It is a speculative business, not a safekeeping institution. In reality, a bank book should not list “money on deposit” but “money lent to our bank, to be paid on demand unless we run short.”)
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