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Huge numbers of Americans opting out of banking system

(NaturalNews) Across the United States, more and more people are opting out of the banking system, according to a report from the Federal Deposit Insurance Corp.

According to the report, 821,000 households (approximately 17 million people) were without a single bank account from 2009 to 2011. Those numbers place the "un-banked population" at 8.2 percent of the U.S. population.

An additional 51 million people told researchers that although they have a bank account, they also make use of payday lenders, pawnshops, rent-to-own services, money orders or other such alternative financial services. This population, known as under-banked, has increased to 20.1 percent of U.S. households from the prior figure of 18.2 percent. Overall, a full 28.3 percent of U.S. households have either zero or one bank account for the whole household.

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The heart of the beast -

The heart of the beast - banks. A revolution is easy if everyone whould deal in paper money and better yet "barter" with silver and gold. Be especially careful of paper alternatives that they push. What stands in their way to know everything about everyone is ironically paper money. If everyone took their money out of the banks and started dealing directly, the government would lose half its power. With money they know where you are, what you spend, the food you eat, taxes supposedly owed, etc. Be especially careful of new digital money (includes direct deposits, internet bills, credit cards, etc.) which they can give, take and control that much easier. Money orders are .50 cents at the post office - kill the beast.

Magic Johnson was on Leno a few weeks ago

promoting his new pre-paid card for the 'unbanked'.

Defeat the panda-industrial complex

I am dusk icon. anagram me.

they are still using banking services

They just pay a lot for banking services via middle men: check Cashers, check lenders, money orders, etc. all charge for the intermediate service to banking services.

Now, many directly in the system pay as much of more via bounced check charges, credit interest, etc.

However, some know how to handle money and make money while using the bank services.

Bank fee?

I don't pay bank fees.

When my State Farm Bank statement arrives every month, there's never any "fees". It's always zero. I use this card to pay bills online. Never any postage fees, and it's a free service.

I have two credit cards, the State Farm Visa rewards gets me money off my insurance bill. It's pretty cool getting free auto insurance once every 18 months.

The other credit card is an Auto Club Visa. It's through Bank America and they have this real cool thing called "shop safe" where you can get a one-time credit card number for internet purchases. You cap the amount, and it can only be used once. I use three or four of them every month. Because it's through the Auto Club, I get 5% off on gasoline purchases when I slide the card at the pump.

My brother can't get a bank account and life really sucks for him. He's got to pay big bucks just to cash a check.

If men are not governed by God, they will be ruled by tyrants.
- William Penn

That's All well and Good

If you are fine with the government knowing everything about your personal finances and have trust in the FDIC system. Myself, not so much, especially since I am self employed. Many fees are insidious, such as certain annual fees, per transaction fees, fees when you order new checks , take a cash advance or use an ATM. I doubt that they are losing money on you. I prefer to keep my business to myself and choose not to deal with the banking system. It's much cheaper to buy many things when you pay in cash. You might be surprised how much you can save on things when the seller sees cash instead of credit as your method of payment- even Doctors love cash these days. There is a new economy emerging underground. Cash is king. If the day ever comes when the market crashes, good luck with your FDIC claims against the bank.

we use credit unions for everything but a minimum kept in the .

. . bank for monthly bills--

and a credit card on which we pay the balance monthly--

not sure what else to do; we've tried to use cash, and it's complicated--

bills get lost, etc.

A friend of ours (farmer) was telling us today that he was trying to use only cash and he was taking a twenty out of his wallet, and the wind was strong and took about 10 or 15 $20 bills out and blew them every which way; he was running all over to catch them and thinks he got most, but . . . it was disturbing--

spouse and I were working with cash years ago, paying all our bills in person with cash--

and one of us had our pocket picked in a crowded place and lost an entire month's pay--

that's when we started carrying a credit card and doing direct deposit--

money is a HUGE problem--

it's hard to be awake; it's easier to dream--

That was a good verbisual 88vote......

It gave me some more thinkers for my tinkers.

I'm a workin on sum thing here.

Keep the thinkers a comin....

Because: Some animals are more equal than other animals. -Animal Farm-

What the? > http://www.youtube.com/watch?v=6MTIwY3_-ks

your response made me chuckle--

too bad *we* don't have something we can substitute for the cash, so it doesn't fly away--

besides credit cards, eh?

it's hard to be awake; it's easier to dream--

There's a land slide a comin......

Imagine, just for a moment, that there's a huge crowd of 350,000,000 people all smashed up against the edge of a cliff. The poorest are closest to the edge and the rich are furthest away.

A landslide starts, those closest go first, but the landslide progresses and the rich eventually fall too.

Everyones goin over the edge if the slide isn't stopped or the people get away from the edge. The best way for everyone to survive thru this, is for all, rich and poor, to realize this and act together to over come.

*****

I just said that as a visual. Now what do we do? I'd like to hear your ideas.

Because: Some animals are more equal than other animals. -Animal Farm-

What the? > http://www.youtube.com/watch?v=6MTIwY3_-ks

let's not go overboard. I

let's not go overboard. I still use banks and credit cards for convenience. CC's get paid off at the end of each month. I only keep a minimum in my checking account...just enough to cover bills.

Don't know where you guys are banking...but still some good credit unions, local, and regional banks offering free accounts and online billpay.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

Yeah, and then comes Bitcoin!

If you wish to opt out of The Banking system, but still want to be able to pay for things online, and to transfer value between you and people you support, try using Bitcoin.

http://www.dailypaul.com/255704/goldmoney-inventor-james-tur...

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]

I am one of the unbanked

I closed my bank account in 2006 and have never opened another one.Why use a bank when they charge tons of fees and offer little or no interest? I remember getting all pissed off all the time about the ridiculous charges they kept inventing. I do have one credit card that I use for online payments and then pay off in full each month with a money order.I use money orders (25 cents each at the check cashing store) to pay any bills that require mailing. If I get a check from a client, I give it to a family member to deposit and keep my payments in cash, then convert any excess funds to silver and gold via cash payments to local shops. Sure, there are times when I guess a bank account would be convenient, but the fees are ridiculous and I am happier without it. Merchants sure do appreciate being paid in cash and often, you can bargain for discounts with some types of sellers when you pay cash. I have three dogs, three guns, and a 1500 lb built in safe. 5 adults here on the farm with me, all together and hunkering down for the recession. We have milk goats and chickens, with a sterling engine generator and water purifier. Come and get us.

The number needs to increase 10 fold

I dispise banks now that I have educated myself about the history of money and banking and the FED. I have an account that I keep about $5 in so I can cash checks and have a debit card for situations like renting a car or whatever. Other than that...I've no longer got any use for them AT ALL!

Great find, LL.

:~D

A Look At The Future :

Though they may be poor and starving

In many ways they are freer than we are here.

________________________________________

Those who expect to reap the blessings of freedom, must, like men, undergo the fatigue of supporting it. ~Thomas Paine

Yep

Plz give us our daily bread. Amen

donvino

Am I?

Am I crazy, or does that 821,000 household (17 million people) number seem very strange? That's approximately 20 people per household...

That's 20 people

per household. Naaaa Can't be.

Keepin' it real.

Haha....that jumped out at me too!

But, whaddya expect from government (FDIC) statistics! :)

Didn't ya know?

That's how many people per household these days.

8D

bump

excellent post, legalize...

If my need to be RIGHT is greater than my desire for TRUTH, then I will not recognize it when it arrives ~ Libertybelle