{"id":37182,"date":"2016-05-11T05:15:39","date_gmt":"2016-05-11T12:15:39","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=37182"},"modified":"2024-02-08T14:59:52","modified_gmt":"2024-02-08T22:59:52","slug":"what-will-happen-if-everyone-pulls-their-money-from-the-bank-today","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id37182-what-will-happen-if-everyone-pulls-their-money-from-the-bank-today.html","title":{"rendered":"What Will Happen If Everyone Pulls Their Money from the Bank Today"},"content":{"rendered":"

\"collapsing<\/a>I am a big follower of Mike Maloney. He is the man responsible for opening my eyes and helping me understand just how our monetary and financial systems really work<\/a> — and for that I will be forever grateful.<\/p>\n

Last month, he put out a brief video — which I have included at the bottom of this article — that perfectly explains why our entire banking system is immoral, and an outright sham.<\/p>\n

In short, Mike shows that for every dollar that you currently have deposited in a US bank there is actually just 0.00061 dollars available in the banks’ vaults to draw from — in other words, if there was a financial panic where everybody wanted their cash at the same time, the banks could only pay out six cents for every $100 dollars deposited by their trusting customers. Six measly cents!<\/p>\n

Put another way, if everyone had $10,000 deposited in the bank, and they all demanded their cash at the same time, the banks would be able to give each depositor $6.<\/p>\n

Never mind that all of those dollars are IOUs — virtually worthless paper promises that are backed by nothing more than the “full faith and credit of the US government.”<\/p>\n

In case you haven’t noticed, that<\/em> is rapidly crumbling.<\/p>\n

Got gold<\/a>? Got silver? If not, you better get some. Soon.<\/p>\n