muses of the moment

March 31, 2009

Don’t be fooled…Banks have no cash

Banks have no cash reserves. They are supposed to have enough cash for all checking account deposits. They don’t. They have enough cash to fill their ATMs for the day and NO more.

To test….go ask you bank for $9,000 in cash.

Watch them try to talk you out of it, accuse you of illegal activity, get angry, or flatly say no.

If you finally insist, see how long you have to wait and what papers you have to sign.

The guys at MarketSkeptics show the world… the Emperor banks have no clothes.

There will be a cash bank run at some point and the government will issue a bank holiday. Do not be caught without cash.

Cash will make the world go round during a bank holiday.

Just as the dollar is a fiat currency, the money held in the accounts and loaned out at our banks is created out of thin air.

In order to understand how to protect your wealth, you must understand how the fiat currency and fractional (I mean, no-reserve) banking systems work.

It is in the government’s best interest for you NOT to understand this system. It is also in the government’s best interest for you NOT to understand that this sytem can completely implode. And it HAS DONE SO several times during the past 250 years in America.

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