[CS-FSLUG] OT: No Bank Account is Safe Today (Not Just The Ones in Cyprus)

[Davo Smith]

If you wanted to know a lot more about how the banking system currently
works, how it is broken and how it could be fixed, then the Positive Money
campaign is a good starting point (it is UK based, but much of what they
cover is relevant to all countries):

http://www.positivemoney.org/

Davo


On Tue, Mar 26, 2013 at 1:47 AM, Fred A. Miller <fmiller at lightlink.com>wrote:

>  No Bank Account is Safe Today (Not Just The Ones in Cyprus)
>
>    - Posted by Michael CHILDS, Admin II<http://patriotaction.net/profile/MichaelCHILDS>on March 25, 2013 at 6:45pm in Patriot
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>     Who really owns your bank account? Most people would be shocked to
> discover that the bank owns your bank account, not you.
>
> From a legal and financial accounting standpoint, the term "deposit" is
> used by the banking industry in financial statements to describe the
> liability owed by the bank to its depositor, and not the funds that the
> bank holds as a result of the deposit, which are shown as assets of the
> bank.
> Check out the "legal framework" of this article to understand that all
> money placed in deposit accounts of banks are not YOUR assets but assets of
> THE BANK.
>
> It's a shame that you had to make a video to state the obvious. The
> sheeple will laugh at these assertions.
>
> Thanks a ton, very well done good sir!
>
> Where does the FDIC fit into the equation here in the USA?
>
> Isn't the US government guaranteeing up to $250,000 per account?
>
> What good is the guarantee if they CANNOT deliver b/c FDIC only have 25
> billion and bank deposit is over 8,000 billions.
>
> Is like me saying sure I will guarantee your mortgage except I don't a
> job/income/assets to back up my claim.
>
> http://patriotaction.net/forum/topic/show?id=2600775%3ATopic%3A6158423&xgs=1&xg_source=msg_share_topic
>
> --
> "... nothing – no new legislation, no waiting period, gun or magazine ban –
> could have prevented the Connecticut “glory killer” from carrying out his attack."
>
>
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