Monday, October 3, 2011
Banking Reserves and ATMs
What gives banks their power?
Deposits of their customers, consumer deposits, corporate deposits and ANY DEPOSITS over time LODGED via check, cash or wire transfer.
What gives them their power to lend?
The reserve requirements of 10%. Banks have to ONLY KEEP 10% OF OUR CASH in their safes. Think about this: 10% INSIDE the rest of the 90% OUTSIDE, borrowed by others.
See Link to FED ---
This model of banking is SCANDALOUS and the FED's meddling through insane QE-3 etc. is a way to PRINT MONEY for banks so they can PRETEND THEIR BALANCE SHEETS are in better shape than the reality.
A French bank at the time of writing of this 12:10 hrs GMT is about to fall apart due to its exposure to Greek's debt.
Regarding the O-W-S, the conventional media don't seem to get the idea that protesters are wised up to what the FED is doing, while FED apologists spout a pile of CRAP and write the usual propaganda in defense of the FED and the insane risk that many banks have taken on over the past several years.
See Link on DERIVATIVES EXPOSURE and video of APOLOGIST ---
Clearly this clown doesn't really get it BECAUSE HE IS PART OF THE PROBLEM!
When ATMs were installed in the mid-80s, people jumped for joy that banking became oh so convenient. Well, there will be some IMMENSE INCONVENIENCE once the shit hits the fan and people begin to see the light regarding fractional (or reserve) banking.
Almost all ATMS use WINDOWS OPERATING SYSTEMS and if a financial implosion does occur, the bankers have a way of ensuring that the OMOTS isn't able to get at his or her money.
The ATMs will be basically SHUT DOWN! The links below shows what banks have already IMPLODED and what ones are likely to in the future. Of course the FDIC won't tell us the full story either.
Time to purchase a safe folks.