Comment: Bank Robbery

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Bank Robbery

If you have money in a bank, it's being stolen constantly. Its value is going down maybe 10% every year. Inflation. How is that so different from what happened in Cyprus?

And don't forget that the practice of "fractional reserve" banking means that your bank is legally permitted to take your money and "invest" it, keeping less than 10% actual cash in reserve. They play games with derivatives and other weird financial shenanigans, and POOF, it's all gone. Let the FDIC and the taxpayers pick up the wreckage.

"Bank robbery" isn't something done TO banks. Its their everyday business model.

Recommended reading: The Most Dangerous Superstition by Larken Rose