Advice From a Finance Guru. Take it or Leave it

[Caroline13]

Or take Catheriine Austin Fitts info and form your own decisions.


https://media.mercola.com/ImageServe...reedom-pdf.pdf

Story at-a-glance
Finance guru Catherine Austin Fitts warns that central bank digital currencies (CBDCs) are part of a plan to end all currencies and establish a slavery system
CBDCs will rapidly usher in an era of taxation without representation, leading to the end of liberty

Fitts believes that a deliberate takedown caused Silicon Valley Bank to collapse, in an effort by a variety of players to panic the public and cause a banking run

By creating a banking run, many will take their money out of small banks and put it with the central banks that are at the root of the problem

Leaving the banking system isn’t the answer * finding a good local bank or credit union, and using cash, is

[Yong Fang]

Banks should never fail unless its economy fails.

Banks to me are pretty basic. People give their money to the bank that they earned for safekeeping (because one doesn’t want thousands, tens or hundreds of thousands of dollars hidden in the house). The bank in turn loans YOUR MONEY out of other people at interest, the only real risk is that the person/company whatever the money is being loaned to has the collateral to pay back the loan in a timely manner. Then the bank can just take the house or other property to satisfy the loan. Or a mortgage broker. Sell a house at a standard twenty year mortgage, either the loan is paid with interest which makes the bank an income or the lender defaults when the ban takes back the house and sells it to someone else starting the cycle again.

Banks should be a sure thing. If a bank fails it is because of either gross incompetence or that someone is stealing.

I don’t really see a one World currency. Local people like what they can control and will not easily give up control of their monetary system or exchange unless it implodes on them. I do know since I have been to these two countries that Cambodia and Zimbabwe use US Dollars (as well as Ecuador and maybe other places. Zimbabwe’s currency has famously been totally worthless for decades. Cambodian money is used with USD for small exchanges. I like it when I am in Cambodia, I get to use money I am familiar with instead of their goofy money with zeros behind it not worth anything. I have also been to Laos and Laos Kip is like 18,000 to $1 USD. It’s funny going there, order a bowl of fried rice and get charged 25,000 Kip for it. Probably China will infiltrate their monetary system and get them to use Chinese RMB as a side currency. It might behoove China to get rid of Mao’s picture on all the money and just create an arbitrary currency used in Southeast Asia and Africa. Then there is the Euro plus lots of other currencies used by millions if not over a billion people. Is India going to give up the Rupee? Don’t know. I just think that currency is an integral part of a nation and it’s identity, not something to be traded away (unless the economy is dead).

“I don’t trust big banks or small banks. Banks are Ponzi schemes ran by morons.”
Ron Swanson.

Banks should only fail if the economy of the country goes straight to hell like Venezuela. Or the Great Depression when there was run on banks to get what little money they had before the whole thing collapsed.

That’s pretty much what a bank does and even a smart fourth grader could understand it.