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Max Keiser: How the Banking System Works

Financial broadcast host Max Keiser explains to Russell Brand how the banking system works and what happens to your money when you make a deposit. Essentially, the bank owns your money.

We’re being held hostage by a group of psychotic bankers.

Max Keiser

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About The Author

JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She writes fiction about an alpha Bichon named Chester, and his friends--with a dash of humor and a dab of poli-sci. JoAnn worked professionally in the Psychology and Information Science fields. Retired now, she enjoys the creative life.

7 Comments

  1. skywalkerstoryteller

    Aside from being really funny the information was “priceless.” Like the thoughts at the end, creating our own systems of exchange and money. Really like that idea.

    • JoAnn Chateau

      Another idea, an old one, is barter and trade. If the banks keep crashing the economy – we may have to fall back on that one!

  2. Jerry "Peacemaker"

    Mr. Brand seemed to sum up the discussion when he said “they have it all sewn up”. Crypto-currencies are a weak solution. All private central banks must be transformed into owned by the people, public utilities in control of the money supply, along with an end to 10-1 fractional reserve. A 100% reserve requirement, so banks are prohibited by law from making loans more than the total deposits.

    • JoAnn Chateau

      For the sake of anyone who reads the comments, I want to note here that North Dakota has had a public banking system since 1919 – and it works great. I also want to put the link here that you recently shared: Public Banking Institute – so people can learn more about public banking.

      I’d also like to ask you a question. If the Big Banks crash the overall economy, how is a public banking system effected? Do they remain stable and operational? Or are they impacted in some way?

      • Jerry "Peacemaker"

        Public banks would never become involved with risky derivatives or similar complex gambling transactions, hence the likelihood of public banks failing is much, much lower. Your question was “if big banks fail and crash the economy”. In your question one is provided evidence which clearly illustrates the wisdom in establishing public banks – they wouldn’t fail, and they wouldn’t crash the economy.

      • JoAnn Chateau

        Thanks for your answer, Jerry. Launching a pubic bank must be a big project, but I’d like to see this action embraced in our society (and globally).

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