The people who run the banks don't trust the banks, but they don't want you to know that.

This is the epic real estate podcast. Contrarian takes on money, housing, and policy without the guru

nonsense. Let's go, let's go, let's go, let's go, let's go, let's go, let's go. Let's go! And we regret that people have lost money,

and whatever we did, whatever the standards of the time were,

it didn't work out well.

You created the mess we're in, and now you're saying, sorry.

And look, you've got 90 days before a massive rules change.

I mean, the rules meant for protecting your money at the bank, they changed for good.

You see, last Wednesday, the people in charge of your bank's safety rules, they held a vote.

They decided that you can handle more risk.

And they didn't even ask you.

It was their discretion about what you can tolerate.

What's crazier is where you stood before they even held the vote. You know how you assume your money

is safe if something goes wrong at the bank? For every $100 the government promises to protect,

they've got $1.17 set aside. A $1.17 for $100. That was your safety net before

last Wednesday. And they looked at that and they decided you have too much net and not a single

news network covered it. So I pulled the documents for you, all of them. I pulled the vote,

the fine print, the math, everything. And what I found isn't just one problem. It's four layers

of exposure sitting on top of your checking account, your 401k, and the deed to your house right now.

I'll take you through all four. And if you have a bank account in the United

States, any bank account, this applies to you. Layer one, your money, it's not there. In March

2020, the Federal Reserve reduced the reserve requirement for banks to zero. That means your

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