1. I have come to the conclusion that banking was, from centuries ago, a scam! The true legalese CON-tract of banking has obfuscated the fact that depositors forfeited their ownership of their deposits the moment of the transaction.
    Apparently more people have become aware of this and also the policy changes are no longer guaranteeing the deposits.

    In other words the governments are not even pretending to protect the deposits, yet in the 5 eyes governments they are attempting to make all money electronically deposited into their banking institutions where the citizens have no other choice but to deposit into an approved direct deposit bank…

    Martin Armstrong:

    “LEGALLY MONEY IN A BANK HAS NEVER BEEN YOUR’S – nothing has changed. What has changed is that government is reneging on the New Deal and Socialism. The entire reason for creating the FDIC was for the government to regulate banks and thus guarantee them. The money is simply NOT yours and NEVER was once you deposit it into a bank. You become the same as a shareholder possessing merely a claim as an UNSECURED creditor in the case of a bankruptcy.

    G20 is recognizing this LEGAL status and simply saying – HEY, there is NO obligation to bail anyone out. Remember I explained the Constitution is NEGATIVE not POSITIVE and that means there is NO legal obligation upon government to do anything for society but restrain its own actions.This is part of the DEFLATIONARY warning I have been saying all along and getting a ton of shit for. This is NOT going down the road of HYPERINFLATION – this is DEFLATION. The destruction of capital not the expansion of it. I have warned this is the COLLAPSE of Socialism. That means government walks away from its promises – it will not print money into oblivion.”

    • It’s uncanny how close we think about things. Your definition of how banking is and how you feel about it is exactly how I feel. I’ve been telling people that these measures were coming. I also have a problem with direct deposit, I get cheque or cash as much as I can, for these reasons.

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