ReWire 718: Too Damn Friendly

In 1913, JP Morgan and others established the Federal Reserve, a private banking institution that controls monetary policy and loans trillions of dollars to the US government each year. Banks are allowed to loan out 10 times more money than they have on hand, and larger financial institutions are buying up assets and liquidating them at prices they decide. The government is buying up assets from a tech-driven bank and media reports can easily trick people into withdrawing their money. It’s better to have money in larger banks since the government will protect it, and it is important to keep track of where your money is and use silica packs to protect it if you’re keeping it at home. We’re headed towards a digital currency which could come with some control issues, but it looks like it’s inevitable. Key Lessons Banks are allowed to loan out 10 times more money than they have on hand. Larger financial institutions are buying up assets and liquidating them at prices they decide. Protecting your money may require using silica packs if you’re keeping it at home. Summary A financial expert explains how the banking system works, how it affects people and stock prices, and suggests that people stack their cash for the next six months in order to prepare for potential financial losses. In 1913, JP Morgan and other tycoons met on Jekyll Island, Georgia, to establish the Federal Reserve, a private banking institution that was a major trick on U.S. citizens. Before 1913, communication was slow, so the government wasn’t able to react quickly to the Federal Reserve’s decisions. The Federal Reserve is not a federal institute but tells the government how much money to print The Federal Reserve creates and controls monetary policy, loaning trillions of dollars to the US government each year. Bank of America borrows money from the Fed at a 5% interest rate, which is used to pay the national debt. Banks are able to loan out 10X more money than they have on hand by getting a “banking license” from the Fed This process has led to some banks making bad decisions with their money, and the US government has had to bail out banks twice since I’ve been alive. Banks are being bought up by larger financial institutions, like Blackstone and Blackrock, and then they liquidate the assets at prices they decide to give to people with large amounts of money. Smaller people with money are also receiving offers to buy assets at discounted prices, showing that the bigger play is something to be wary of The government is buying up assets from a tech-driven bank, likely as a way to control the flow of information on tech sites. People reacted to media reports of the bank’s potential failure by withdrawing their money, which caused a run on the bank. People were also fooled into buying unnecessary amounts of toilet paper due to media reports This shows how easy it is for the media and government to collude. Air is the only free thing on the planet, and if there is a threat to your money, it is better to have it in a larger bank like Bank of America, Chase, or Wells Fargo, as the government will protect it if it is taken. Smaller regional banks may be at risk, so it is important to keep track of where your money is The government won’t let banks fail, so if you have money in one of them, chances are you’re safe. But if you’re keeping cash in your house, use silica packs to avoid moisture damage. We’ve gone from gold to paper money as a way to make carrying large amounts of money easier, and now we’re headed toward digital currency This could come with some control issues, but it looks like it’s inevitable. How to Get Involved:This planet is based on an algorithm and with every positive action, there is an adverse reaction.Ryan Stewman rose and overcame a life of addiction,  Imprisonment, divorce, and circumstances that would break the spirit of the average human being. He went on to create a powerful network of winners and champions of life and business creating a movement that quickly changed lives one day at a time. The Hardcore Closer Podcast is brought to you by PhoneSites It’s the fastest, easiest way to build a dynamic landing page or website in minutes from your mobile or desktop. Get a Free Trial here— > PhoneSites Learn more at: www.JoinTheApex.com Follow Ryan’s killer sales blog at: HardCore Closer Check out this show and previous killer episodes of the Hardcore Closer Podcast in Apple Podcasts.