http://www.theeventchronicle.
The G20 Just Stole Your Bank Account
[F]ractional reserve banking proved shaky, and so the New Deal, in 1933, added the lie of “bank deposit insurance,” using the benign word “insurance” to mask an arrant hoax. When the savings and loan system went down the tubes in the late 1980s, the “deposit insurance” of the federal FSLIC [Federal Savings and Loan Insurance Corporation] was unmasked as sheer fraud. The “insurance” was simply the smoke-and-mirrors term for the unbacked name of the federal government. The poor taxpayers finally bailed out the S&Ls, but now we are left with the formerly sainted FDIC [Federal Deposit Insurance Corporation], for commercial banks, which is now increasingly seen to be shaky, since the FDIC itself has less than one percent of the huge number of deposits it “insures.”
The very idea of “deposit insurance” is a swindle; how does one insure an institution (fractional reserve banking) that is inherently insolvent, and which will fall apart whenever the public finally understands the swindle? Suppose that, tomorrow, the American public suddenly became aware of the banking swindle, and went to the banks tomorrowmorning, and, in unison, demanded cash. What would happen? The banks would be instantly insolvent, since they could only muster 10 percent of the cash they owe their befuddled customers. Neither would the enormous tax increase needed to bail everyone out be at all palatable. No: the only thing the Fed could do, and this would be in their power, would be to print enough money to pay off all the bank depositors. Unfortunately, in the present state of the banking system, the result would be an immediate plunge into the horrors of hyperinflation.
1 comment:
i guess i must be the dumby, for all these smart WELL EDUCATED FROM THE BEST SCHOOLS ON EARTH.
but no see that this is a imposter with fake id, fake ss# 's, fake birth certificates, his history does not match the facts found so far.
but no: all the generals bent over and just take a swift kick out the door WITH NO PROTEST OR TRIAL, while the imposter does treason time and time again, i in school was told that the oath is to protect the common man of this land from enemies forgien and DOMESTIC: MEANING THE THE WANT TO BE TRYANTS AND HIS GANG OF THUGS.
THE BALLS OF OUR MEN IN UNIFORM SO FAR HAS BEEN THE FOOT SOLDIER, NEVER AS OF LATE ANY OFFICER SHOWN BALLS.
IF THE GENERAL HAM IS THE PROTECTOR OF THE CONTINTUTION, IT SEEMS THE IMPOSTOR JUST OVERRIDES HIM, AND MOCKS ALL THE MEN IN UNIFORMS THE FOOT SOLDER AT LEAST IS CALLING HIM OUT, AND OTHERS ARE DOING THE JOB THAT THE HOUSE AND SENATE WAS THEIR JOBS IN THE FRIST PLACE, WITH THE HELP OF THE GENERALS MUSCLE WHEN NEEDED TO CONVINCE THE TYRANTS THIS IS THE LAND OF THE FREE, FOR MANY FOOT SOLDIERS DIED WITH THAT THOUGHT WITH EVERY BEAT OF THEIR HEART.
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