BANKING: Getting increasingly uncomfortable with banking system. How about you? [Archive]

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joeecho

8th September 2016, 21:41

I just read the recent articles on 5,300 Wells Fargo employees fired over 2 million phony accounts (http://www.npr.org/sections/thetwo-way/2016/09/08/493130449/wells-fargo-to-pay-around-190-million-over-fake-accounts-that-sparked-bonuses).

https://localtvktvi.files.wordpress.com/2016/09/gettyimages-521395962-1.jpg?quality=85&strip=all&w=770

This level of corruption in the banking system astounds me and this is the flame we are privy to. How much is burning beneath in the banking system?

It wasn't long ago that I pulled my currency out of Washington Mutual Bank in the first quarter of 2008 as I could see it about to fail and sure as dog dodo it did. If I had currency in Wells Fargo I would be pulling it out.

How is everyone's comfort level with their banking system as of today?

Failed FDIC Bank List (https://www.fdic.gov/bank/individual/failed/banklist.html)

I know we have some financially in tuned folks at Avalon. First, though, is my concerns unreasonable? Is there a consensus on the most stable place to keep liquid assets? I am more concerned about a stable place for it then as an investment. Is real estate or something else way more stable in these times we find ourselves in?

I much appreciate your shared knowledge in advance,

Joe

Fanna

9th September 2016, 00:29

joeecho

9th September 2016, 01:09

My level of comfort is complete boycott. Starve the banks. Do not support. Nonviolent protest.

On a level of investment? IDK, as a millennial the idea of an investment is so foreign to me. My philosophy is to spend all my money making a permanent home and then spending any extra useless money on things that I want/need.

It is totally irresponsible, but so is investing.

Even though I've never thought that way before I am starting to get your way of thinking. Two of the primary reasons that I have saved (money) over the years is that was the way my Dad taught me and, two, I like the idea that if for what ever reason I was not in possession of an income I could keep cruisin' along without much concern.

I normally don't think about how to spend or invest money until I read an article about it. Hmmmm.

I am getting the sense that I can learn a thing or too from the younger generations that I have for gotten about, socially speaking. Thanks, Fanna, for sharing your take on this.

Satori

9th September 2016, 01:32

The "Beast" is money creation. Fiat, legal tender via fractional reserve practices by central banks. That and that alone provides them with the means to maintain power and control over the 99.99%. This is the root. All else are the branches. The solution to most all, of significance, that ails us is easy to state but extremely hard to do. We must strike at the root. Not the branches. We must not participate in the money making process by borrowing "money" created out of nothing and lent at interest. We must starve the Beast.

conk

14th September 2016, 19:15

This fraudulent banking scam has been ongoing for maybe 600, 700 years. Whenever gold receipts were given to those holding gold in vaults. They could trade the receipts for goods as easily or easier than carrying their goods to the market for trade. This began the fiat style of currency. And for those many hundreds of years so few have become aware of the fraud. The bankers boom and bust us on a regular basis, raking in the spoils at each bust juncture. We seem to be at the tail end of one of the biggest busts in fiat history. Many will fall into despair as they watch the elites prosper from the pain. This event will be unmatched, some say, by any other in history. It will be brutal and violent. God's pity on those in the inner cities, those who don't even know where a vegetable comes from. Those who have known nothing but food stamps and government handouts. Run Forest Run.