Former Banker Warns “It’s Just A Matter of Time Before Every Bank Goes Ti*s Up”

end 2I prefer not to be beholden to the bankers.  Starve the beast. Do not take loans.  Pay in cash. Hoard cash.
With fractional reserve banking, every bank sows the seeds of their own destruction. It’s just a matter of time before every bank goes TU.  I’ve seen hundreds bite the dust…

 

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By AGXIIK:

Many countries have very little bank financing and do well.  Cash and carry works.  I prefer not to be beholden to the bankers.  A merchant bank with a small foot print worked well in decades past but we went passed that credit mile marker a century ago with the Fed and prior to that with the robber baron banks.  Too big to fail, bail and jail is now the way of the world and there will be  as serious amount of cosmic comeuppance when this system fails.

I said it before.  With fractional reserve banking, every bank sows the seeds of their own destruction. It’s just a matter of time before every bank goes TU.  I’ve seen hundreds bite the dust.

But today every bank of any size has the Fed and every other central bank is ring fenced with politicians backing them, making sure the banks stay alive and everything else dies.  Bail-ins, confiscation, unsecured creditor status and peon debt enserfitude are all waiting for us courtesy of our glorious politicians, bought and paid for by the banksters who will have us.

Best thing to do:

Starve the beast. Do not take loans.  Pay in cash. Hoard cash. Keep bank accounts as small as possible.   No free toasters today, Mr Dimon.

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