In this video, Mr. Blyth talks about the Greece collapse, and how banks created the situation, and thanks to bailouts ultimately profited from it. Despite making life hell for all of Greece.
I've been thinking for a very long time that the big money behind some of these rather reckless financial maneuvers must know they will break everything if they do. What good is having all the US dollars in the world if the US dollar is worthless. And it really can get to that point, all you can really debate is how likely that situation is to occur.
Then I had a thought. What if the banks are intentionally trying to recreate the fall of Greece. After all unlike Greece, the US currency is the world reserve. If we spark another great depression or worse we harm the entire world in the process. So why not fuck shit up, make a huge money grab and when shit hits the fan they'll have the world by the balls. Bail out. America gets slammed with austerity measures, the citizens suffer and are forced to pay for it, while the banks profit heavily.
What do you fine folk think.
A couple of years ago I heard a presentation that, if accurate, is disturbing.
American banks, said the presenter, have changed the way your deposit is handled.
Instead of you owning the money you put into the bank, the bank owns it with a promise to let you use it.
A promise which, in Greece, was broken. Money owed by the bank to German bankers was withdrawn (in part) to make the bank's payments. There was no recourse. And this Greek system was what we now have in the United States.
I immediately withdrew our funds and placed them in a locally owned credit union. The service is better, any problems are settled immediately, and I receive a measurable interest on my checking balance!
And the money is our account is owned, not by somebody else, but by my wife and me.
Draw your own conclusions, but I would recommend a credit union to anybody -- including my granddaughter who works in a bank.
I wish I had enough money for it to matter where I kept it lol. Thank you Jerry for that thought. If true it is pretty scary on many levels. It's like with user licence agreements, if true we don't get to own things anymore. We simply get permission to use stuff (money, digital content). This seems like the foundation principles behind an economic form of slavery to me.
Jerry, I agree. I pulled what I had out of one of the big banks and opened an account with a teachers credit union. I'm happy with the service and the people with whom I do business there.
The Dutch have been my go to case study. They literally taxed themselves into obscurity this is why they are not a world power....need I say more?
Some great thoughts. I was concerned my OP might sound a bit conspiracy theory ish, i don't really think conspiracy theories are prone to accurate analysis and I would never want to promote such half baked reasoning. However this seemed on the surface to have some merit, so I presented it to you all to see if there was more information or general consensus, or if I was simply wildly off base.
Once again you all don't disappoint. Thank you.