Tag Archives: banks

The US Banking System is Sick and on Life Support

Fractional banking refers to a banking system where banks are required to hold only a fraction of their deposits as cash reserves. Banks only keep a fraction of deposits, such as 10%, available for withdrawals and payments. The rest is loaned out to earn interest. This allows banks to leverage customer deposits to issue new […]

What Makes You Think that Banks Can’t Be Cyber-Attacked?

2021 is turning into the year of cyber-attacks at the highest level. Money by definition is a current medium of exchange in the form of coins and banknotes. The main functions of money are as a medium of exchange, a unit of account, and a store of value. When money is used to intermediate the […]

New Senate Bill Could Be the End of Financial Privacy

Since the financial crisis of 2008, many banking reforms have addressed the notion of “too big to fail.” Unfortunately, the laws and reforms touted as being to “protect” consumers, only infringe on our rights freedoms. These large entities such as banks and insurance companies are likely to draw up rules and regulations that will benefit […]

What Happens to You When a Bank Fails

More than decade ago IndyMac, a California big bank that was one of the country’s largest mortgage lenders, failed. Some deposits were protected by the government (FDIC), but bank customers panicked and formed long lines outside the bank’s locations trying to get their cash out of the bank.

Drop in December Home Sales Creates Panic

A month-over-month drop in housing sales of 6.4% in December was one of the largest in history that did not involve a major change in government policy. December capped a 2018 that was dismal for the housing market and left sales at a 3-year low. The December sales plunge was well below the 1% drop […]

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