BANKS FOR NOTHING!

If you're wondering about money and banks and how in fuck's Eden we ended up in this mess, check out this informational cartoon. It's a 45-minute lesson on banking that explains all you need to know. For example, it describes how bank loans are not backed by assets in the vault. In fact, they're backed only by the signature of the person promising to pay it back. So, in essence, banks are creating money. They don't actually have the physical money to cover all of these loans they're handing out!

The result? Enough bad loans and WaMu - you're done!

Seriously, check out the vid. It's super enlightening as a morning econ refresher with your morning coffee.

Really - click on it and sit back. You will learn some amazing shit about banks. I didn't really know there was anything amazing about banks until I watched this, but MAN, what a scam these suits are running on us. All that money we've been borrowing?? It's all backed by deposits of other loans from other banks. LOANS. Not deposits of hard currency in circulation, but money created by banks. And it's all legal because our government was complicit in enabling the entire thing.

The bottom line is, as we all know, debt is BAD. But somewhere along the way, we were told that it was okay to have debt. In fact, it became NORMAL for Americans to owe the bank so much money it would take 30 YEARS to pay it back.

How is that normal? Think about that. Agreeing to give a quarter to half of your monthly income every month for 30 years to a bank in exchange for a house that leaks. And yet, that's what goes on every day. And it's easy to understand why. How else would any of us own anything? We'd all be renters because, let's face it, who has $200K sitting in the bank to buy a house? And if you did have $200K, you probably wouldn't dump it all on a house. That's a lot of beer money.

Check out the video. Every American should be versed on these simple principles so we understand what is happening. That way we'll be able to spot a bad bailout plan when we see one.