1. Did you know that the FDIC doesn't really insure bank accounts?
  2. Did you know that when a bank goes under and is taken over by the FDIC, instead of paying the $100,000, the FDIC just pays its own people to come into the bank and divvy up what's left of the bank's assets? (This comes from a woman who once worked as a temp for the FDIC. Her job was to talk on the phone to the angry depositors and explain this to them.)
  3. Did you know that a bank cannot legally require a fingerprint as a condition of cashing a check? According to UCC 3-501(b)(2), they can only require you to:
    1. Exhibit the instrument (i.e. you show them the check)
    2. Give reasonable identification, and evidence of your authority if you are cashing the check on behalf of someone else
    3. Sign the check, and make a written receipt for partial payment, or the surrender of the check upon full payment (i.e. you let them keep the check)
    They write the brochures to say that they "ask" for a fingerprint (not "demand" as a condition of payment). Their excuse for the fingerprint is "reasonable identification." So if you can get them to agree that your picture ID is reasonable identification, they have NO LAWFUL EXCUSE for refusing to pay the check just because you don't give them a fingerprint! In this case they have "dishonored" the check and you can proceed exactly as you would if they blatantly, and for no reason, refused to pay. Contact us for ideas on how to use the fingerprint issue.
  4. Did you know that banks do not loan their own assets, nor the assets of their depositors?
  5. Do you realize this means they do NOT loan money, but instead, there is an exchange of credit for credit, in which interest is charged on one side, but not the other?
  6. If the borrower walks away with cash (which has value in the form of "purchasing power"), but the bank didn't loan any of its assets, isn't it obvious that the "purchasing power" must have come from SOMEWHERE?
  7. Did you know that when a bank makes a "loan," the money supply (M1) expands -- in other words, the volume of currency in circulation increases?
  8. Did you know that the value of the Federal Reserve Note "dollar" depends on the size of the money supply via the law of "supply and demand" -- in other words, the more FRNs there are, the less they are worth?
  9. Do you understand that when the bank makes a loan, the value of the FRN "dollar bills" in everybody's pocket declines -- in other words, the bank is creating FRN dollars in competition with the FRN "dollars" in your pocket, and this reduces the value of the FRN "dollars" in your pocket? Do you realize this is the cause of inflation?
  10. Do you realize that this means the "value," or "purchasing power," loaned by the bank is essentially STOLEN from the public via the mechanism of inflation? Contact us for ideas on how to use the "Theft by Inflation" issue.

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