Bank of America Insiders SELL $14 Million in Stock . . . NO INSIDERS BOUGHT BOA Stock within the last 12 months. If you have money in BOA, get it out ASAP and into a credit union if possible.
(halturnerradioshow.com)
💥 BANK COLLAPSE 💥
What would happen if a million ppl took out a BOA credit card, maxed it out, then didn't pay the payments?
Nothing bad for the bank.
Fiat currency is created on the spot in credit transactions- when you buy a house or a car or spend money on a credit card, the bank creates new money on the spot to give to the seller and you pay back real wages that you have to earn. And if you refuse to pay, the bank gets to write off a liability, they can repossess anything you purchased or sue you in court to get your personal assets, and they likely also get a bailout from the federal government. This is pretty much what happened in the 2008 financial crisis.
So we'd get another bump of inflation, the bank would lay claim to the assets of 1 million people, and the court systems would protect them because that's their job.
The main problem in our society is that the banks create new fake money out of thin air. And that directly leads to the devaluation of our labor- the promise of technology and the insane improvements in labor efficiency have been almost completely siphoned off by intentional money dilution, which we call inflation.
Hmm... I guess a bank run would be about all we could do.
Even that just leads to another bank bailout and a different bank snatching up their assets and liabilities for pennies on the dollar.
The money system is not set up in our favor.