The Money in Banks

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    • #1301

      One of the members in a forum put up a interesting post…

      ‘Every night banks have to check their cash reserves and if they do not have enough to cover their expenses they are not allowed to open the next day…..    to insure everyone is ok there are banks that loan banks enough daily loans that they pay back after opening to keep things going on….

      Thursday night at midnight the Federal Reserve loaned the banks that make these loans 500 billion dollars….    literally nothing of this magnitude or even close to it has ever happened in the long history of fractional banking….    its a serious sign that something very serious is wrong…

      Like toilet paper, cash will not be available to everyone should we all panic and want money at the same time….    worse than that the banks really don’t have to give you the money in your account if they don’t have it go give…..    the money you have in your accounts is a debt the bank has…..   but the actual money there belongs to them according to the law.

      You are right… there is a lot more wrong than a virus here and the virus may well push the other problems over the cliff.’

      I just finished putting up solar panels for the house, and paying off almost the last of my mortgage with some money I received. I now understand why God led me to do that and not store it in the bank.

    • #1310

      Here is the latest this morning…
      “Dow Jones in Freefall as Wall Street Begs for Stock Market Shutdown
      Asset managers reportedly urged the Bank of England to shut the stock market to stop panic selling. Will the U.S. follow suit?”…

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