CNN: Do NOT empty your bank account because of Coronavirus. Translated: EMPTY your Bank Account.
#BigReset
CNN:
Do NOT empty your bank account because of #Coronavirus.!!
Translated:
EMPTY your Bank Account.!!
Thanks again for reading.
Stephen
Do NOT empty your bank account because of #Coronavirus.!!
EMPTY your Bank Account.!!
Thanks again for reading.
Stephen
Stephen,
It has been my experience that when MSM tells you NOT to do something, it is EXACTLY what you should be doing.
As you have said, the FED has loosened the rules to allow the banks to have zero reserves. So when you think about it, why do the banks need depositors? The FED now allows them to create money out of thin air.
Since the 2008 crisis the rules have changed so that the money you deposit into the bank is the property of the banking system. When a bank goes under, the depositors suffer and must get there money from the Federal insurance agency.
And since your deposit is the property of the banking system, the banking system can (and does) limit the amount of money you can withdraw from the banking system.
But alas, those notes you withdrew from the bank are the property of the U.S. Federal Reserve, legal tender for all debts, public and private.
The change in your pocket belongs to you more than those notes in your wallet. The change in your pocket is issued by the U.S. Treasury.
And better yet, the gold and silver you buy and hold in your possession has no counter-party risk (i.e., it belongs to you free and clear).
In my opinion, the current banking system is on its last legs. The infusion of $1 Trillion daily by the FED into the repo market will soon become $2 Trillion and then $3 Trillion... and so forth. The lowering of interest rates and the elimination of reserve requirements only demonstrate the dire condition of the banking system.
The bubbles the FED has created have been popped and no amount of pumping by the FED will re-inflate them.
I remember one analyst saying there will be deflation before hyper-inflation. I think we are now witnessing the deflation and we should all prepare for hyper-inflation as the banking system collapses.
For over a year I have heard pundits I follow say "only keep what you need to cover expenses in your banking account". With interest rates near zero, it has been more advantageous to not keep your money in a bank account.
Instead of emptying your bank account, I would say "do not keep more than you need to cover expenses in your bank account".
Everyone should be preparing for the inflation that will come next.
Stephen, Thank you for your thought provoking posts!
Steem on and stay well!
Mike
Hi Mike
Great comment.
I agree with every single word you have said and would love to some how share your comment on twitter for more to see.
I truly believe more people are finally waking up to what is clearly a highly corrupt and highly manipulated Financial Banking System.
Have a great weekend Mike and thanks again for your overwhelming support of my Blog.
Stephen
Stephen,
You have my permission to share my comment on Twitter.
Have a great weekend and stay well,
Mike
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Hi Mike
Would love to share these screenshots on twitter.
Stephen
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HIVE IS ALIVE!!!
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<br
HIVE IS ALIVE!!!
JOIN US, YOU'LL HAVE EXACTLY THE SAME BALANCE AS YOU HAVE HERE ON STEEM WITHOUT THE CENTRALIZATION AND CENSORSHIP!!
https://hive.blog
https://twitter.com/innerhive
ALSO, FUCK YOU @JUSTINSUNSTEEMIT
HIVE IS ALIVE!!!
JOIN US, YOU'LL HAVE EXACTLY THE SAME BALANCE AS YOU HAVE HERE ON STEEM WITHOUT THE CENTRALIZATION AND CENSORSHIP!!
https://hive.blog
https://twitter.com/innerhive
ALSO, FUCK YOU @JUSTINSUNSTEEMIT
HIVE IS ALIVE!!!
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<br
Time for a bank run, if you look at the bail In laws in the EU and Australia and cash bans it’s ridiculously obvious that they want to lock you in so you’re liable for their gambling
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<br
Indeed or put them into an enveloppe and open them in 2 months. And do not forget to wab your hands afterwards !
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ALSO, FUCK YOU @JUSTINSUNSTEEMIT
HIVE IS ALIVE!!!
JOIN US, YOU'LL HAVE EXACTLY THE SAME BALANCE AS YOU HAVE HERE ON STEEM WITHOUT THE CENTRALIZATION AND CENSORSHIP!!
https://hive.blog
https://twitter.com/innerhive
ALSO, FUCK YOU @JUSTINSUNSTEEMIT
HIVE IS ALIVE!!!
JOIN US, YOU'LL HAVE EXACTLY THE SAME BALANCE AS YOU HAVE HERE ON STEEM WITHOUT THE CENTRALIZATION AND CENSORSHIP!!
https://hive.blog
<br
HIVE IS ALIVE!!!
JOIN US, YOU'LL HAVE EXACTLY THE SAME BALANCE AS YOU HAVE HERE ON STEEM WITHOUT THE CENTRALIZATION AND CENSORSHIP!!
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