Hello and welcome to this show. I am Dr. Chris Martinson here with another episode for you today, episode 79.

You are the curious, the remnant, the people who are interested in knowing what's going on.

Boy, have I got a great episode for you today. Lots going on in the world.

But I thought it's time for a little fundamental. Let's back up. Let's take a look. Let's answer this question.

How safe is your money in a bank? Now, I just had a conversation this weekend with somebody who was under a lot of false

misapprehensions about really how banking works and all of that because you might have this idea

that, well, you have money and it's yours and it's in a bank. That's actually not how it works at all. So we've got to cover that today because there's so much going on in the world that actually says maybe it's time to take a few chips off the table, if you know what I mean, and make things a little bit safer for ourselves. All right, let's go there. Why would you take cash out of the bank? I'm going to

recommend you take cash out of the bank. And this episode explains why you should do that. And reasons, hey, you're going to Las Vegas, right? You're going to go out there and have a fabulous good time and fabulous Las Vegas. Maybe I don't know. You're going on Craigslist and the guy will not sell you his cat 305 for anything other than cash.

That could be or it could be because you realize that you are an unsecured creditor of the bank

when you put money into a bank account. What? What does that mean? That doesn't sound good.

Okay, an unsecured creditor. Let's go there. This is in Forbes magazine. This was just written in June of 2022, so it's recent. And, you know, Forbes fax checks their articles. So in case you need it to come from someplace official like Forbes. But this is all fact checked, everything I'm going to tell you, as always sourced, researched, and as accurate as I can make it.

Now, this article written here by a rufus Kamau, talking really about Bitcoin, but outlining some of the

reasons why some people have decided to take money out of the banking system. He writes here,

quote, a cash deposit in a bank is virtually an unsecured loan to the bank with no assurance

that your money is safe and easily accessible. To make it worse, the bank determines the terms

and conditions for such a loan. End quote. Sound shocking? Well, it's actually true. This is how the whole system is structured.

You don't know that, but if you ever go down there and you read carefully that all those sheafs

of documents you have to go through to open a bank account, you'll find out that it's all spelled

out in there. And including the idea that the terms and conditions can change at any moment

in time, subject to other things that are not even in the

documents you would sign when you open that bank account, including all sorts of other regulatory

provisions that have gotten slapped on there. We're going to be talking about one of the most

...