E14: How Banks Work and How to Break Free From Them

In this episode, we will discuss how banks, the most profitable business in the word, have a monopoly on your money. And we'll share how you can break free from their scheme.

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https://livingwealth.com/e14

We can talk about this thing for hours. But in this episode, we're going to nail down how banks work in under a one-half hour. In the course of explaining how banks work, we'll also discuss the inherent problems they create.  And we'll shed light on infinite banking: becoming your own banker.

~ Banking Topics Discussed: ~

* How banks make money off of you
* Why banks keep only a small amount of physical cash on hand
* Why banks love credit cards so much
* How to use Infinite Banking in place of a traditional bank
* Paying yourself interest instead of a bank
* Why we say "banks have a monopoly on your money"
* Where the FDIC comes in
* Are banks running a legal Ponzi Scheme

Episode Takeaways: 
* Banks make money off of you by simply allowing you to deposit your hard-earned money into their bank.
* Every deposit that someone makes at a bank is really like a little loan to the bank.
* We're all lending money to the bank, and the bank puts it to work for themselves while charging you.
* The most expensive money a bank has is the money that has to sit in their teller's drawer because it's not working for them.
* We're paying the bank to use our own money.
* That's the Ponzi Scheme that the banks run with our money right now.