…Quickly after checking your post, I inevitably made a decision to save this post on Reddit. This is truly a wonderful advice to contribute with some friends……

…This is unquestionably one of the best and functional sites I was fortunate to have visited. Check it, the information and facts are tremendous……

And don’t count time deposits twice, as “money on deposit” in one bank, and “cash on hand” at another. That’s the flaw in fractional-reserve banking.

Why do you think the Great Banking Crisis happened? Because too many people had to call in their loans at once, because they needed to convert their deposits into cash. Too many “but…but…buts” later, and we had what we went through in 2008. So what the government came up with is another way to agree on keeping up the scam. That, and an avowed socialist looking for a way to redistribute wealth, and “never let[ting] a good crisis go to waste.”

All I’m saying is: if you’re going to have money on demand deposit, don’t expect it to yield the income of a time deposit. In fact, reconcile yourself to paying service charges, if you want to be sure that when you and every other Tom, Dick and Harry want your money back, it will be there.

Your whole scheme will fail the minute enough of your targets withdraw the sanction they’ve been giving you all this time, and say to you:

Don’t try to find me. You won’t. Don’t say that I owe you. I don’t. Don’t cry that you need me. I don’t give a fig. Don’t claim that you own me. You don’t. Don’t beg me to come back. I am on strike.

And here is what they understand: a government that can rob somebody to pay them, can as easily rob them to pay somebody else.

There’s nothing wrong with being wealthy, but accumulating wealth and not doing anything purposeful with it is bad for everyone. Wealth should be invested, not hoarded, so the value is unlocked and spread across the people doing useful things with that investment.

That’s the point of allowing banks to hold a reserve while lending the rest for investments in homes, businesses, vehicles, etc. Yes, there’s a level of trust required, and the FDIC helped with that after the lessons of the bank runs at the outset of the Depression. The FDIC worked well because it was paired with the Glass-Steagall regulations that forbid institutions from taking deposits to speculate with it. Only after the rules were repealed did we see the markets return to the kind of reckless behavior that led to the crisis of 2008 – a key lesson of history ignored, and a heavy price paid.

That’s why the Right’s obsession with deregulation is so laughably hypocritical – there’s little trust for the government, but plenty of blind faith in firms like Goldman that enriched themselves while selling investments to suckers, and betting against the suckers for their own account.