The Atlantis Report
Premiered June 16, 2021
All Banks are Insolvent and Bankrupt.
The whole banking system is one big octopus with its slimy tentacles in everything. The existence of the central bank and fractional reserve banking permits commercial banks to generate credit, which is not backed up by real funding. It is credit created out of thin air. All banks are today insolvent, hence the Repo Markets now being run by Central Bank money. A bank has current creditors: on the whole, these are people like you and me who have our salaries or savings paid or deposited into our accounts on our behalf. We do not actually own our money that is stored in the bank. The bank does. This may come as a surprise to you. However, this is a very well-established point of law. Since 1811, this has been the case. So you and I are the current creditors to the bank, i.e., we are owed money by the bank. In fact, your bank statement is just an IOU from the bank; acknowledging that it owes you however much it says on the statement on demand. Depositors are unsecured creditors on the bank’s balance sheet. Riddle me this: when you take out a credit card, the bank is the unsecured creditor, and the debt is unsecured. They charge us quite a bit of interest, from 19 percent to 22 percent, Yet when we loan the bank our cash via deposits, what is the interest that we unsecured creditors receive? 1 percent at best! The assets of the bank are those people to whom the bank has lent its Your money to, i.e., all the borrowers of loans. As has been so clearly displayed during the 2008 crisis, they have lent their money out (formerly your money) over 33 times on average to borrowers. So when more than 1 of 33 of us clients of a bank wish to withdraw our money that is on-demand, the bank cannot pay it back as it does not have it. As for banks, deposits are loans from the depositor to the bank. They represent the liabilities of the bank. It is true that the assets of the bank (such as loans, securities, and reserves) are assets of the bank. Banks are solvent only if the assets are more significant than the liabilities. The idea that a bank, or any other firm, is insolvent only because something might happen is absurd.
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