WHAT DO YOU MEAN I CAN'T CASH MY CHECKS? SAID THE FRESH FACED YOUNG MANAGER. WE DON'T HAVE ENOUGH MONEY IN THE BANK.

This is what is about to happen to you. Sooner than I thought. I thought it would be August before we started hearing this. And that is exactly why I took all my money out of the bank. Of course I left enough to pay my immediately coming due bills. It’s called FRACTIONAL RESERVE BANKING. Remember that term. This is how it works. And this goes for most banks with perhaps the exceptional of a few savings and loans.

So what is FRACTIONAL RESERVE BANKING. This is when you deposit $1,000.00 and the bank can lend out 90% of the deposit you just made. Yes it’s legal. So on your $1,000.00 the Bank can lend out $900.00. If the person does not pay his loan back on time the bank has less money on hand. This means your money has been loaned out and you my friend are at the short end of the stick. And that is why for over a year I have been saying take your money out of the bank.

Yes, when I was younger I remember when I was younger that you could put your money in a savings account and receive 3, 5, 6% interest. Today you are charged for putting money in a checking account. Maybe $19.00 or so for the bank to hold your money which they don,t   really do. To leave money in the bank is insane. With what happened in Greece. What happened in Australia!  $360,000,000 was taken from 80,0000 customers accounts that have been dormant for 3 months or more.

This is going to come to a bank by you. As money gets tighter and the manipulation of the purchase of bonds, which is against the law. Thats why I say, take your money and put it in the sock draw or plant it next to the roses because it will be stolen. As time goes by it will get worse. One day you will wake up you will go for breakfast and they will come back to say I am sorry you have no money in your account.

Google it see how many you find.