“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning”
For this most recent installment of the David Lukas Show, David continues with the Who’s Supporting You/ Who Can You Trust Series by talking about the fourth player in retirement: your bank.
Just how important of a player is your bank? Very. In fact, knowing how the banking system works is critical to responsibly planning your retirement and safeguarding your hard earned assets.
Throughout the hour David explains how banks really “hold” your money in trust. In other words, because banks are highly leveraged, they are able to loan out 90% of an account holder’s money. That means when you deposit $10,000 into your bank account, the bank can legally loan out $9,000 of YOUR MONEY! That deposit is not held in trust, as it should be.
Want to know more about how the Federal Reserve came to be? Listen to David Interview G. Edward Griffin, author of The Creature From Jekyll Island.
Important topics discussed:
- How banks work within the monetary system
- Why you need to understand how our monetary system works and how the banks control it
- Banks can and have failed
- The current state of the Deposit Insurance Fund (DIF) administered by the FDIC.
- Supporting retirement like grandad did with his interest earnings at the bank just isn’t possible in today’s low interest rate environment.
To get all of this important information, and more, listen to the entire episode today. Also, all previous installments of this series are posted here on dlshowonline.com where you can catch up on any episodes you may have missed at any time!
How Banks Make Money
Also check out the following video David did a few years back.
Want to know more about how the Banks are banking off of your money? David wrote the book!
3 Personalities of Money
Do you know your financial DNA? Are you a Saver, an Investor or a Speculator? Learn about the three personalities of money and take the test today at: DavidLukasFinancial.com
Get the Annuity Decision Guide for Savers today by clicking here!
Want to know more about how David Lukas Financial can benefit you and your retirement portfolio—call all David Lukas, (501) 218-8880, today to learn more about The WorryFree Retirement® It’s the only process in the country Dedicated To Helping Savers Worry Less About Money®