ppl are still under the illusion that money on deposit in a bank belongs to them
In fact, it does not
It belongs to the bank
An account balance is simply a promise to remit $ when requested by depositors
bank runs have happened over centuries, when ppl lose confidence
government comes in with bailouts to restore confidence
they do this by expanding the money supply thus adding to public debt
‘WE ALL MUST PITCH IN TO AVOID GLOBAL COLLAPSE’
it will happen again, it happens every time
within weeks everyone goes back to life and forgets everything
and voila..confidence is restored
ppl make deposits..and banks lend at near zero fractional reserve requirements BY LAW
banking is a confidence game
a *con game*
orangedog
npub1pk…f6z6g
2023-03-12 01:12:52
in reply to nevent1q…dq6n
Author Public Key
npub1pk25978sqf7fn6t58ctzxc3veplf9pjgmtwewl5wnymjc2dcu3cs6f6z6gPublished at
2023-03-12 01:12:52Event JSON
{
"id": "b353d1d7c311035851f1b0190c236fa68bfbce90c5324450e80382093206c984",
"pubkey": "0d9542f8f0027c99e9743e1623622cc87e928648dadd977e8e99372c29b8e471",
"created_at": 1678583572,
"kind": 1,
"tags": [
[
"e",
"c91723b436cb20e6e2b5e7d5502a688f0bca1fd4394b2b6244064656c03d8b7a"
],
[
"p",
"5fb0091aaeb72eacdcbe9fb3a649ee3b8870454c2adb9275064848c8c9c0dd1d"
]
],
"content": "ppl are still under the illusion that money on deposit in a bank belongs to them\n\nIn fact, it does not\nIt belongs to the bank\n\nAn account balance is simply a promise to remit $ when requested by depositors \n\nbank runs have happened over centuries, when ppl lose confidence \n\ngovernment comes in with bailouts to restore confidence \n\nthey do this by expanding the money supply thus adding to public debt\n\n‘WE ALL MUST PITCH IN TO AVOID GLOBAL COLLAPSE’\n\nit will happen again, it happens every time \n\nwithin weeks everyone goes back to life and forgets everything \n\nand voila..confidence is restored \n\nppl make deposits..and banks lend at near zero fractional reserve requirements BY LAW\n\nbanking is a confidence game\n\na *con game*",
"sig": "41b477427dfd68a28a65de9b52d000816234914c60fe9fc381e27b35d8cb42b0cbe0f50bcaf8effbfcdebb1e270ece9cf2507f738b87cb604e5728bb06138af4"
}