Comments by "Crime Stoppers" (@crimestoppers1877) on "World Affairs In Context"
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Thank you for your opinion and valuable information. The FDIC claims that it insures deposits, but where is the money it is supposed to have to make the insurance payments? The FDIC has limited funds to pay to back bank account holders. Here is my personal experience. In 2008, I was a victim of a bank seizure by the government. I had a passbook savings account with only about $20,000 balance. One Sunday morning I received a very unusual telephone call from a person who claimed to be an employee of the Comptroller of The Currency. They claimed that the bank was seized by the government. This was used as a pretext to ask me dozens of invasive and personal questions allegedly to determine my identity and also to answer a question concerning how I want my bank deposit returned to me (Privacy Rights?) . The caller was a male and rude, bellicose, belligerent, evasive and smug, typical of a government employee. He told me I had TWO choices: 1) Complete an application to the FDIC to receive my savings which could take as long as 90 days ( No law requires RAPID DISBURSEMENT!! ( what is the penalty if they fail?) or 2) allow the new bank to receive my savings which could be available depending on the new banks requirements. The government clerk treated me like I was a criminal! I asked a few questions and he refused to answer ( They have my savings-how dare they!). He did admit that some bank officials from the old bank transferred to the new bank. Why? If I mess up I get fired in my job. I was annoyed by the disgusting attitudes and behavior of the caller and know it is best to NEVER argue with a government employee since they can and will make my life a living hell ( a job benefit?).
As a result, I started learning about the US monetary system by watching a YT video titled "Money as Debt". Once I understood that a Federal Reserve Note (FRN) is never backed by anything of value. Instead, it is fiat currency and the "value" it has is proclaimed by fiat only! Essentially money is nothing more than the representation of an IOU of a debtor to a bank member of the Federal Reserve banking System. Why rob a bank when a bank can conjure up currency, as much as it wants as long as a debtor promises to pay back the loan plus interest? A perfect Ponzi scheme! It is much worse than this however, and I don't know how the Kleptocrats (Federal Reserve and politicians who OWN and operate the system) fully comprehend how evil it is. When banking statutes, laws and regulations are violated who goes to prison? None of them! I realized that my ability to trade my labor for consideration to another has much more value than money. Many millionaires are successful in avoiding "active" income and use of money. Each transaction can be taxed ( interest or taxes) to the detriment of everyone but the banks.
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