Your deposits are listed as you being an

UNSECURED CREDITOR.

You are NOT NOT NOT a Depositor.

“YOU” don’t own the money

in your Bank account!

And Digital Currency will be “WORSE.”

The dangers of eliminating cash, and mandating that all transactions be conducted by digital means, has a legal aspect to it.

In the United States, (as in all economies that have legal tender laws), only cash is recognized as money. Some may think that the balance of their bank accounts is money too, but that is not true!

Your bank balance “IS” removed from legal money.

All banks must maintain minimum balances of reserves (but they don’t), in cash held either in their vaults(which is a very small amount) or in their “reserve accounts” with their local Federal Reserve Bank branch (there are twelve of them). These BANK’S reserve account balances HAVE TO BE converted to real money, or cash, at your bank’s discretion. However, the total cash in our economy also includes cash held outside the banking system, such as the money in your wallet, cookie jar, or personal safe deposit vault.

The total of:

bank reserves plus

cash held outside the banking system is known as the

monetary base.

The monetary base is not the same as the money “supply”. Most of the money supply is composed of phony bank credit ”NOT “backed by reserves. When banks make loans, they credit your account, which becomes bank credit money. Yes, this money was created by the bank out of thin air. Notice that the banks did not create reserves, only credit money, which is not the same thing as REAL existing money. It should not even be called or listed as money!

As of July 2023, the monetary base in the United States was $5.5 trillion, whereas M3 (the total bank phony credit money) was $20.9 trillion! So, if everyone demanded real money (cash), the banks would “NOT” be able to honor ¾- 75% of YOUR ACCOUNT requests. The possibility of your bank failing is real. Over nine thousand US banks failed and kept ALL your money during the Great Depression of the 1930s. These 9000 banks just closed their doors and left you standing outside on the street, LEAVING YOU PENNILESS!

Risks of Electronic Payments

Your ability to hold real cash, not just bank balances accessible by check or electronic means, protects you from the COMING inevitable infrastructure CRASH associated with any electronic system but also from the instantaneous seizure of at least some of your money. Cash is anonymous whereas a bank account is not. If something happens, you will still be able to function WITH the cash you HAVE on hand.

Now, let’s say that cash has been eliminated by some legal means and that you have angered the powers that be for some reason—probably for opposing them and asking others to oppose them too. All the banks must do is to freeze your bank account or eliminate it entirely. There are two examples of this very thing happening in the recent past:

First, the government of Canada

froze the bank accounts of all those participating in the Canadian truckers’ general strike plus those who helped them.

Second, British politician Nigel Farage had his 

accounts closed for political reasons and found that no other British bank would serve him.

Without the means to use money, Farage came very close to emigrating. Just think about that for a moment. You could not fuel your car, buy groceries, pay your rent, or do a hundred other things without access to a bank account.

Risks of Central Bank Digital Currency:

All of the world’s major central banks are drawing up plans to institute digital currencies that they themselves control.

This is very dangerous for us= our civil liberties. Now the government would not have to seek the cooperation of the banks to freeze your accounts or “debank” you entirely, as the British banking system did to Nigel Farage.

At the stroke of a keypad, you would not have access to your financial accounts—no fuel for your car, food for your family, or heat for your home.

No one should be allowed to hold such enormous power, which really is a life-and-death issue.

BUT digital currencies are being promoted as efficient and modern. They are no such thing.

This is a civil liberties issue and

digital currencies need to be stopped.