Electric Money will Eliminate Bank Runs

Bankenkrise - Deutschland 1931QUESTION: Mr. Armstrong; Thank you so much for what you do. My son actually introduced you to me. He works in New York at a major bank and says everyone reads you because you actually have experience. He said there is talk about electronic money, but was not entirely sure why the banks are behind that development. Can you shed some light on that subject of electronic money?

Thank you so much

GU

ANSWER: Most banks have now used the money laundering pretense to limit cash withdrawals. They will ask all sorts of questions if you even TRY to withdraw your money. They realize we are on the verge of a crisis in banking on a global scale (less so in the USA). The worst banks are in Europe and that includes those in Germany and even Britain such as HSBC. Eliminate CASH and you eliminate BANK RUNS.

Glass-Steagall Signing-Repeal

This is the reason Behind the Curtain they are pushing this and it was Larry Summers, their boy, who flew that balloon I believe at the instigation of the banks. He was behind getting rid of Glass Steagall also for the banks and this is why he had to decline being appointed as Fed Chairman. Can you imagine any interrogation of who pulls Larry’s strings would expose far too much of what is going on behind the scenes.