EVEN THE BANKS DON'T TRUST THE BANKS | Bix Weir

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You’ve heard the adage, “If you don’t hold it, you don’t own it,” and you may be wary of keeping “money in the bank,” or “owning” stocks through a brokerage, or shares of “precious metals funds” like GLD or SLV due to concerns about third-party risk, layers of indirection that pose barriers to real ownership, and even “re-hypothecation” (multiple-claims against the same assets.)

But what you haven’t been told is that your wariness puts you in good company - with the largest banks, major US bond holders, and even sovereign nations. The recent actions of these massive players reveal that they are secretly distrusting each other, and especially distrusting the validity and integrity of US Treasury bonds and US dollars, drying up liquidity and spiking inter-bank lending rates, and forcing the crisis bond repo bailout by the Fed.

Bix Weir, founder of RoadToRoota.com, has been in the finance industry for 30 years, and advocates for awareness about the Fed, gold, and cryptocurrencies. Bix answers YOUR viewer questions on what’s going on with our crisis-bound financial system!

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Category
Money in the bank

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