The banksters have undoubtedly betrayed the trust of the American people and their customers worldwide. They engaged in risky derivatives gambling with our money, made boatloads of cash when things went well and then stuck us with the bill when their irresponsible bets lost money. Heads they win; tails we lose.
Congress initially voted against the bank bailout as their constituents called and emailed urging them not to pass such a massive giveaway. But the bank lobbyists went hard to work, threatened politicians with de-funding their election campaigns, economic collapse and even martial law if they didn’t get their way. The banks eventually won and got the Trillions in taxpayer money they wanted. This was all done under the guise of helping to avert economic collapse and free up the credit markets. But the banks took the money and used it to buy smaller competitors, shore up their balance sheets and pay out hefty bonuses. When asked where the money went, they put up their hands and said they didn’t know or refused to divulge the details. It was the greatest theft in the history of mankind.
These bankstes borrow money from the Fed at near 0% interest, charge you 6-15% for a loan, yet only pay you 1% interest on your savings. If you miss a loan payment, your interest rate can increase to 20% or higher, all on money they borrowed essentially for free. Furthermore, nearly all of the income taxes taken out of your paycheck go directly to paying interest to the Fed. Put in simpler terms, more than 1/3 of your paycheck goes directly to a group of unknown private bankers that own the Federal Reserve. Think about that statistic for a moment. We are essentially slaves to a group of banksters that are charging us interest on money that they can create out of thin air! Outraged yet?
While many of us feel powerless and have lost faith in the system, there are still ways that you can take action and affect change. Put simply, stop supporting the institutions that created the crisis and robbed you blind. Pull your money out of Citibank, Bank of America and other large banks in favor of member-owned, non-profit credit unions or smaller community banks. In the spirit of the Holiday season, consider the deeper message of the movie “Its A Wonderful Life” and consider supporting Move Your Money, where you can search for responsible community banks in your area.
Don’t think you have enough money in the bank to make a difference? Consider that under fractional reserve banking practices, removing just $10,000 deprives the bank of $100,000 or more in funds. This multiplier effect means that if even a small percentage of the population were to stop supporting these corrupt institutions, it could have a significant impact and go a long way towards limiting the power of the big banks and creating a more sane, stable financial system. You have the power to vote with your dollars and end the era of “Too Big to Fail.”
Taking things a step further, consider limiting the amount of money you keep in any bank or credit union to the amount that you need to live off and pay your bills for a few months. You can completely eliminate your support for these institutions and the fiat money system by storing your wealth in the one form of money that has been used throughout history and has never becomes worthless. While different versions of fiat money have come and gone, gold and silver has stood the test of time and will continue to do so. It has intrinsic value, can not be debased and printed out of thin air and carries zero counter-party risk. Not only can it help you preserve your purchasing power, but you are likely to significantly increase your purchasing power by holding precious metals in the coming years. While the Dow Jones has declined nearly 10% since the start of 2000, gold has more than quadrupled in price! In one swift motion, you can remove your support for the big banks and fiat money system, protect your wealth and increase your purchasing power.
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