💵 Remember That 50 Billion Bailout In the USA? Well... ₿₿₿
Remember almost 10 yeas ago when the sky was falling and 50 billion dollars in tax payers money was injected into big banks. Those same big banks like JP Morgan who continue to bash crypto currency and bitcoin?
No one went to jail instead a few people got some nice big fat checks while everyone else was out 50 billion dollars at no fault of their own. This is governments failing we the people and we need to take action now more then ever.
The senate recently passed a bill on banking that would shield large banks that requires them to sit on extra cash so money is available if a crash happens again. Now just remember at the moment a bank is only required to hold 10% CASH while the only 90% can be invested out in loans etc.
Will these banks start returning the money to investors and raising their interest rates. I think not we clearly have seen what banks do with extra money they think they have such as crap loans, early retirement gifts etc. While everyone else is left out wondering what the hell just happened.
In Crypto I invest bye bye banks you had to many chances and took way to much you bunch of greedy fools!
Revolution is in his way!
Everyone knows how banks rob people in a modern way these days... If crypto become bigger than what it is now, it can make a revolution by any mean...
The banking system is rigged in favor for the corporations. Once you put your money in a bank, you're essentially given an IOU. So the balance you see in your bank statement is actually the IOU. The money you put in the bank is used as capital for investments. What this means is that banks use your money to make money. They keep the profits and you're left with you're original amount. At the end of the day, who wins? You could allow your money to make you money, but we're trained to "save" our money in banks instead of invest it. Crypto is changing the game.
Nice post ..... interesting fact of banks
I did not know this information, I am surprise.
All that really means is that they have to have enough money on hand in order to bail themselves out, right? Or am I misinterpreting this?