Banking Crisis Summary for Avg Joe WTF is going on? 1) You trade your time & energy (work) for dollars. 2) You then take those dollars and save them in the bank. 3) The bank takes those dollar deposits in as their own assets and types into their computer a liability 4) For everyday spending banks transfer around reserves + liabilities between eachothers balance sheets to track our account balances 5) In the background the banks are taking the rest of our dollars (savings) and investing them in order to generate profit for the bank (no the bank doesn't share profit with depositors - dividends go to shareholders of bank stock). 6) Banks made bad investments with our savings in high-priced government debt that was fraudulently classified as "risk-fee" since FED central bank controlled interest rates 7) Banks still have the same level of liabilities (they still owe you the amount of dollars you deposited) BUT their investments lost value so the available dollars (bank assets) < bank liabilities. 8) In any other situation this entity would be insolvent. Don't worry though bc the gov won't let that happen bc of political fallout 9) The gov will just print the dollars that the banks lost investing to make sure that depositors don't lose any of their dollars 10) When the gov 'provides liquidity' to the banks by printing new dollars, the new dollars get their value by stealing fractions of value from all existing dollars 11) These newly created dollars create inflation (the loss of dollar purchasing power value forcing a general rise in prices) 12) In essence the gov + FED + banks are devaluing your work (savings) by printing dollars to make up for the banks bad investments IN CONCLUSION: -> YOU DONT HAVE TO WORRY ABOUT YOUR DOLLARS BEING AVAILABLE IN THE BANKS -> YOU DO HAVE TO WORRY ABOUT HOW MUCH THOSE DOLLARS IN THE BANK ARE GOING TO BE ABLE TO BUY This banking crisis is far from over. In fact, it's just getting started and in many ways is much worse than this simple synopsis (wait until you learn about the highly leveraged $1,500 Trillion derivatives casino the banks gambled away all our money in). The only way to make sure the value of your work (purchasing power of savings) isn't diminished is to make sure your savings is in the form of something that cant be printed or created from nothing. #Bitcoin is the only asset in the world that was strategically designed to protect the purchasing power value of your savings. With mathematical certainty you can be assured that no gov or bank can create more $BTC (like they do dollars) in order to steal the value of your hard work. Now is the time to transfer the value of all your hard work out of dollars (which continue to be printed and thus steal from the purchasing power value of your savings) and into the only money in the world with a fixed supply that cant be expanded #Bitcoin Good luck anon.