Bank deposits have never been considered money. They are an asset to you and a liability on the banks balance sheet. When a bank goes belly up, the ONLY thing protecting you is FDIC insurance.
If you think your money is yours in a bank, go back to a high school economics class—or watch it’s a wonderful life.
Regardless of the semantics, it is time to burn the “bankers” at the stake and put an end to the shenanigans. The “Money Changers” have absolutely too much “influence” and must be put down, IMO.
It’s time to stop the nonsense and put the “Free Market” back in the drivers seat, along with “regulations” that keep the “money Changers’ in their place, IMO.
I prefer It’s a Wonderful Life with the “Lost Ending”
http://www.ebaumsworld.com/video/watch/81249131/
FDIC is kaput last I heard.
So, are they going to end FDIC insurance?
Anybody open a bank account, savings account, brokerage account — you sign away your rights and allow the bank to hypothecate your money, shares, assets.
Hypothecate
http://legal-dictionary.thefreedictionary.com/Hypothecate
To pledge property as security or collateral for a debt. Generally, there is no physical transfer of the pledged property to the lender, nor is the lender given title to the property, though he or she has the right to sell the pledged property in the case of default.
Well-stated.
And what money source backs the FDIC? Taxpayers dollars of course.