Don’t Just Move your Money, Change it Too!

Arianna Huffington wants you to move your worthless US dollars from big banks that are tightly connected with the most powerful government aggressors to smaller banks that are loosely connected with the most powerful government aggressors. She’s produced a slick emotional persuasion piece (see above) that plays fast and loose with history and leverages Frank Capra’s populist film It’s a Wonderful Life.

Not With My Money?

“If you leave your money with the big banks,” the film’s final frames claim, “they will use it to pay lobbyists to keep Congress from fixing the system.” In a YouTube video filmed in a Bank of America parking lot, participant Stephanie Frost proudly proclaims, “I am not going to continue to fund risky behavior that got these banks into trouble in the first place. It’s not going to be done with my money.”

Terribly Naive

Gosh, these folks are naive! Huffington’s call to action implicitly admits that government can be bought and sold. If so, what hope do you have of reforming it? And how can your denial of what is to the big banks pocket change make any difference whatsoever?

Funds at Any Bank are Subject to Exploitation

The reality is that all our US dollar holdings, no matter how large or small the bank where we hold them is, no matter whether our bank is too big to fail or a crunchy co-op, are subject to confiscation at any time. Who has this power? The Federal Reserve, a government-sponsored banking cartel. How do they do it? By creating more and more US dollars out of nothing, i.e. expanding the money supply. They can do it anytime they like. So just by moving your money, however admirable the gesture, you do nothing to reduce the power of the big banks and your US dollar holdings are just as vulnerable to exploitation as ever.

Change your Money – into Silver and Gold

The solution is to change your money. Change it into commodities of enduring value, such as land (though it’s overpriced right now), silver or gold. Change as much of it as practical. The only way to erode the power of the big banks is to get out of the US dollar – and all fiat currencies – entirely. It won’t be easy but it will make a difference. Good luck!