By Lucius Gantt
Jesse James, Butch Cassidy, Clyde Barrow, Pretty Boy Floyd and John Dillinger have been recognized as some of America’s most famous bank robbers.
The so-called “Top 10” bank thieves even include a Black man named Charles “Chaz” Williams.
I would imagine bank robbery is a global phenomenon and most countries around the globe have had their share of financial institution theft.
However, the world’s greatest bank robbers are bankers themselves!
On any day, when you put one dollar or one billion cash dollars into a bank, before the sun rises on the following day, the money you deposited is gone!
Don’t take my word for it. Go to a casino for instance, and hit a million dollar jackpot and tell the casino you want to be paid in cash. Take that million and go to 10 different banks and make cash deposits of $100,000.
Take some time, of any length you choose, then go back to each bank and say you recently deposited $100,000 in cash and you want to close your account and get your money back and watch how the bankers laugh at you!
Oh, they’ll give you a bank check or a cashier’s check that you probably can’t cash anywhere immediately but your money is gone.
Where is it? Well, it is somewhere but it’s difficult for me to explain in a brief column like The Gantt Report (TGR).
Wherever it is it is being invested by the bank that will profit off of investments of your money.
That scenario is not, or should not be unexpected. Using depositor’s money to make loans and other investments is how banks generate a lot of revenue. Banks are businesses and businesses should make money.
But when banks make bad investments with your money like buying trillions of dollars of bundled sub-prime mortgages and the banks lose your money, your money is gone, the bankers get wealthy and rich and nothing is done about it.
No one goes to jail because the friends of bankers that are supposed to regulate the banks come up with an explanation like “the largest banks are too big to fail”!
The bank depositor rip off thing is not limited to the United States. It is happening everywhere.
Top world economists have warned that Germany’s biggest bank is teetering on the edge of crisis and the only way to protect it against future shocks is to nationalize it.
Deutsche Bank is Germany’s biggest bank. That bank has more than a few customers that have deposited billions of dollars in that bank so if Deutsche can’t make a profit investing and getting interest on billions and billions of dollars what is the problem with banks?
Could the problem be graft? Could the problem be greed? I don’t know.
But, if I die today, the readers and supporters of TGR know that I pulled the sheet off of beast bankers 20 or 30 years ago. I knew what some of them were doing and I knew if they stepped on depositors on their way to the top, they would fall on their depositors when they began to collapse!
The new thing so-called Black intellectuals and youthful #BlackLivesMatter activists are saying is that all African Americans should put their money into Black banks.
Ok, that sounds good even though Black banks sometimes make bad loans and bad investments, too.
Wherever you put your money is your business. I would put my money, if I had some, into a lot of different banks and investments so if one failed, or stole the dough, I would still have money somewhere else. (Buy Gantt’s latest book, Beast Too: Dead Man Writing onAmazon.com and from bookstores everywhere. Contact Lucius at www.allworldconsultants.net. And, if you want to, “Like” The Gantt Report page on Facebook.)