Banks Made How Much Off Of Canadians In 2020!? What You Can Do About It!

Everyone's like, oh, well, hey, my bank gave me six months deferral on my mortgage or whatever. And some people got those things and some people didn't. A lot of businesses didn't get any. Any help in that situation. So all that is like, that doesn't mean the bank lost money. What it means is they had a temporary shift in revenues because they weren't receiving the payments. But on paper, we still owe them that money. In fact, if you actually look at the restrictions placed on any deferrals, if you got a deferral over that time frame, you actually owe them more money.

I'm here with my man Sarbulo, and we've been thinking and we've been talking about how much frustration Canadians have over how much money the banks, the big Canadian banks have been making in 2020, 2021, even during the pandemic. Meanwhile, Canadians are furious. They're frustrated because they. They're struggling. A lot of them are struggling because of this pandemic. They've been able. A lot of been unable to go to work. Businesses are being shut down. All kinds of rules and restrictions have limited people's ability to generate revenue. Meanwhile, banks are still recording record profits. They're still increasing their revenues like they're growing. How is it possible that everything else in the world is constricting because of this pandemic situation, but banks, no, they're doing good. Just trucking along. Hey, guys. How are you guys doing? We're making money over here. You guys okay? No. All right, see ya. No, I don't want to throw anybody under the bus. Cerebral. I don't want to throw any banks under the bus, but we just want to isolate and recognize how is this happening in this crazy, unprecedented time where the big Canadian banks are making, are still being profitable and making money? They're making more money than they did the year before. Meanwhile, we're led out to believe that they're suffering in some way because of the pandemic and people aren't sending their payments in. Well, I don't know about you, but I'm not worried about my bank making any more money. Okay? So if you're new here to the channel, we're excited. Make sure to hit subscribe. It's Richard Canfield here, my friend Sarbillo. We are authorized infinite banking practitioners with ascendant financial, and we're going to talk this thing through and we're going to look at some of these bank reports and we're going to show you exactly how much money they're making specifically on interest earnings. Are you excited, Sarblock?

Well, I am excited, Richard, and it goes without saying the whole idea behind this video is not to bash the banks, is to provide clarity on what truly is happening out there in the economy. Because once you understand the problem, the solution will become clear and you know exactly what to do.

And it's again like banking is, banking happens. We all need to facilitate transactional components of our life. We have to go and do this. What we're just trying to understand is how are these guys doing it so well, obviously they've got the time and they've built up this trust relationship with the consumer that says, hey, we're a safe location for you to open up an account and put your money here. Oh, by the way, once that money is in there, we're just going to kind of go and lend it to some other people and we're going to bring some more friends back with that money that we get to keep. That's interest earnings. So that's really what we're going to be talking about in isolating. And so Sarbal, if it's okay with you, I'd like to just jump in. I want to bring up this little summary page that we've got that we've kind of put together. So what you guys will see on the screen is just a little document that we've got where we've summarized some of these reports. So I'm just going to scroll through. So we've got bank of Nova Scotia here. We're going to. And we've got links. So in the YouTube description, if you go down below, if you want to go investigate this stuff, I mean, this is all public knowledge. You can, they have to produce these reports for their shareholders. So you can go in and we got the links down below. You can click on them. Third place in for 2020 in net income was Scotiabank. So we'll come back to that. We've got RBC with second place in net income, $11.4 billion in net income. Can you believe that? It's crazy.

It's a good second place for $11.4 billion.

Yeah, yeah. If you come in second place, I think you're doing all right. If that was the case, we got CIBC, they came in fifth for everybody for 2020 at a measly 3.7 billion. I mean, these guys are just barely scraping by. I mean, they might be on food stamps. Then we've got top place, Big green. We've got TD bank here at $11.9 billion for top place in net income. And then we've got BMO in fourth at around 5 billion. So these are the ones that we're looking at, the top five banks. And again all the reports are available. We're just going to pick one. I'm going to go back to the top and we're going to look at Scotia just because it's at the top of the page and we're going to kind of isolate some things there and then we'll look at the actual report here in a second. So here's some things that we really want to take a look at. Now there's a ton of like these reports are like 150 pages. There's a ton of information in there. There's a big summary for like the first 15 pages. And then you kind of, you know, I think they do that to like get, give. Let's give you the high level stuff. But if you really want to get into the weeds a little bit, let's actually look at all the charts and there's, there's a ton of them in there. The key thing that we really want to look at is this. Let's take a look at the interest income. Net interest income was $17 billion. I repeat, $17 billion. That means they had to take in money on loans that they've lent out, but they also paid out money. They had to pay out money on deposits. The jelly in the sandwich. The net that they got to keep was 17 billion. Just think that through for a second. That means they took in a lot more and they paid us some as consumers, but they got to keep 17 billion. I mean, it's bonkers. And this, Sarblo, is what you and I were really talking about. The amount of their total income that was net. Like if you look at their total revenue of 31 billion. That's not revenue, is not net. Okay, but their total revenue line was 31 billion. Of all of that net interest income was 56%. That's crazy. What can we take away from that? What's an important lesson that we want folks to take away? As we're looking at this, the source.

Of main revenue for the bank is net interest income, which is coming from the loans that they have given out to people on things that people finance from them. What are the things? Houses, investment properties, cars, lines of credit, credit cards, student loans, etc. That is the real source of their income. Now the question is how much of that money is actually theirs that they've been using to produce all their Profit, none of it.

It's all money that we've left there. We've left them money on deposit, your deposits as a consumer. If you're a consumer and you've got an account with any one of these banks or any bank in Canada, period, they're a depositary location, they're taking those dollars and they are lending them out to all of your friends and all of your family and maybe even you. And so it's like a left hand, right hand situation. Hey, here's a nice account. We're nice and safe, we're trusted. We've got online banking, we've got all these services. Put your money here. Oh, by the way, we're going to take that because we only have to keep some of it on deposit, really, and we're going to lend it out to everyone that you know and we're going to keep that payment stream. So they are the epitome of this idea of opm. Other people's money. The other people is you.

That is your debt is someone else's passive income. And now you know who that someone else is, right?

It doesn't make them bad, you know, they're just really good at what they do. So the fundamental thing we want you to take away from this session, we're going to, we're going to go a little bit deeper here is that banking is one of the most powerful businesses in the world. And someone, some institution, some entity must perform, must perform that function. They have to collect deposits and they gotta lend money out because people need to borrow capital to do things, grow, buy the house, do this. So who is going to be the one collecting the revenues? It's going to be whoever the institution is. That institution right now is these banks that we're going to look at right now. But it could be you. You just have to understand and recognize that you can take control of that function. It takes time. It doesn't happen overnight. And we have lots of other content and videos that you can reference that we teach you all about that. But someone's got to do it. It doesn't matter right now. It's happening in your life anyway and it could be you and it should be you. That's our belief.

And one of the things, Richard, I want to say is that we use Scotia's example and you may be thinking, hey, I don't bank with Scotia, I'm fine. Well, it doesn't matter where you bank. Someone else is controlling the function, whether it's td, whether it's rbc, whether it's Scotia, whether it's Nova Scotia, which bank.

Credit union, doesn't make a difference. Doesn't make a difference.

All the interest income or interest earnings that the bank is making is because of controlling the function called banking. And you're the one helping them achieve it. You can take back the control of the function and help your family and help your business, it's achieve the same success that you're transferring away from yourselves permanently.

And I just want to, I want to highlight this, this total income situation for these other banks. So because, because the reason that we want to identify this is that we want to see the theme. What's a core theme happening here? So 56% of all of their revenue income was, was net interest. Net interest income. If we go to RBC, it was 55%. Pretty similar, very much the same. If we go down to CIBC, it was 59%. 59%. If we go down to TD, TD's was 59%. And if we go down to BMO, it was 56. So that is ultra consistent. What that tells us is the bulk of the revenue, the net revenues that they receive comes from interest earnings. Everyone seems to think that the bank's making all the money on fees and all this other stuff. You know, they sell a lot of products, some of them sell insurance products, they sell a lot of funds and investment stuff and all this other kind of business. But they're the big kahuna. The thing that matters most, what they really care about, what drives their entire business model. 60% of it is net interest earnings, interest on money that they're receiving in payment streams from, from you and I.

And our businesses, interest on your money.

Now, all of these banks have different revenues for last year, but that spread is the same. It's the same.

It's all the same. Like that should be a clearly defining thing. If you're seeing this for the first time and you didn't know that, you got to start asking yourself the question, why is that? How is that? Okay, so if that's the same for all the banks, if I wanted to go look at my credit union, look at someone else, I bet you I'll find the same result. Which is which. That means that's a fundamental principle of how banks operate. How do they really work? What do they, what are they really doing? It's crazy now.

Sorry, Richard. You know, one of the things that I've heard you say so many times, and I've had, I've heard Justin say this so many times, that either banks know something that we don't.

But they're really s, what's the word for the s? Stupid. They're making all the money.

Now if you're a banker and you work one of these banks where we're not actually calling you stupid, but like, seriously, they're not doing anything wrong. I mean, Scotiabank didn't make almost $7 billion in net net income during a global pandemic by doing something wrong. It's the exact opposite. They did a lot of things right. They did $7 billion worth of things right.

So I want to look at this piece. I've got this highlighted green spot here which is the total interest earned. So, and we'll show you this in the report, in Scotiabank's report. So basically 30 billion, 29.7 billion was the interest earnings. That's what they took in from the streams of payments from all the consumers. They had to pay money out because they were renting your money. You put money on deposit and they're going to pay you a pittance to leave it there. They pay a little bit of interest into your account. You took a gic, they pay a little bit of interest. You got a little business account, they pay a little bit of interest. So all of the interest that they paid out to consumers for the privilege of renting your money, all that is is a rent payment. They're renting your money so that they can get control over your money to be able to put it to work with other consumers and collect the stream of payments. So they paid out 12.4. Well, if we do the third grade arithmetic, as Nelson Nash would say, that's where we get the $17 million from. So it's a really, really important thing to understand. You put money on deposit, they're going to pay you a little bit to keep it there. They just want you to keep it there. They're trying to separate you from your money for as long as possible. Like a locked in GIC for or a seat. You know, if you're in the States, it's a certificate deposit. In Canada it's a guaranteed interest rate or a term deposit. They want to separate you from your money for as long as possible, pay you a little bit to keep you incentivized, to keep it there so that they can get the money and go and give it out to other people in chunks and then get more streams of payments back. As soon as that payment comes back into the bank's coffers, it doesn't sit there waiting, it doesn't sit Idle, it can instantaneously go back to work for them. That's how they put speed on the money, volume and velocity. It's a very, very powerful business model and we just want to help people understand that. You want to get your component of it that you're utilizing for your own life's needs, your children, yourself, your spouse, your family needs as you go through time. We want to isolate that component and we want to institute you in the controlling position of that function.

And Richard, just to summarize exactly what you just said, so banks need your money. They need your money for a long time. And when you are ready to take that money out, they want you to take that money out in bits and pieces, while all the time they have your money in motion to make more money for themselves. It's just if this doesn't upset you, I don't know what else was going to upset you.

Yeah, it should upset you. So if you're not familiar, if you know, make sure you get a copy of this book, Becoming your own banker. This is, this is how Sarblo and I are here learning this, how I learned about this, how we're sharing this message is because of this key book written by this amazing guy right here, Nelson Nash. I want to point to a spot so if you've got a copy in the hands, you can flip to page 19. And this is called Creating a bank. Like the ones you already know about on the top right hand side. One thing that Nelson says very clearly, and it's so true, it comes right from the book Paper Money by Adam Smith. A banker cannot make a loan unless he has a deposit. True, it seems a little silly to state it so baldly, but if three college educated Americans in ten don't know that we have to import oil, I don't feel so bad about saying something bald. Banks do not lend their money. They lend money that somebody else has left there. That's exactly what we identified. So when you start up a bank, you have to put in some capital, then you get some deposits, then you lend those deposits. It's very simple. It doesn't have to be any more complicated than that. That's what's happening. It's just happening on this monstrously grand scale with these billion dollar net revenue companies that we're looking at right now.

And if you are upset about what we have shared so far, you have the right to be upset. Now again, we're not trying to bash banks. We're just talking about the function called banking and the importance in.

Functional Banking, not just as a product or, but as a business that you can also control for your family. Nelson says in his book that everybody should be in two businesses. One is what you do on a day to day to provide for your family. And the other business which is the most important is the banking business.

So going back to our little chart here, again, you know, hey, you know, did these guys do okay? Well, I think they did okay. They even increased their dividend payout rate, etc.

I think okay is an understatement, Richard.

Okay is a bit of an understatement again. So the same thing like we, you know, all the information is basically the same. There's just a slight variation in the number with all these guys. But what's, what's consistent is that they all made money, they were all profitable. They were profitable in the billions of dollars. And almost all of them, I believe every single one, even increased their dividend payout for stockholders. So, I mean, really, really impressive. Now here in a pandemic year when everyone thought that they were losing money. All right, now I'm going to bring up this, this chart. And this is coming from Scotiabank's annual report. Again, this is all public available. If you click on the YouTube description, we're going to put a link. You can get right to the page where we got this report. They have to publish these reports every year. It's public information. So this is the 2020 annual report, page 29 and page 30. And we can see right here.

So what do they got? Loans. There's a whole segment here on loans. Residential mortgages, big chunk personal loans, credit cards, business and government loans, etc. They got a little bit of loss there on, you know, some credit losses. Those are the write offs that they had to make for people that couldn't pay their debts and whatever. Yep. And then, and those are billions, right, Richard? Yes, this is, this is in billions of dollars. So sometimes we look at these things and it's hard to because they're just using these little numbers. But that's because there's not enough room on the page to put all the zeros. Like the report would be four times as long if they could add the zeros. Or the print would be so small you couldn't read it. So the thing that's really interesting is we look at all these assets. These are all assets around what created interest income. The total income in interest was 29.7. Now down here we've got liabilities, well, their depository liabilities, total deposits is a liability to the bank. This is a fundamental thing. So we really want to emphasize this. 10.7. So they took in 20, 29, bill. $29 billion of interest revenue, interest income through payment streams, the stream of payments they paid out into your deposit accounts. $10 billion. That difference I again I refer to as the jelly in the sandwich. Maybe if you prefer the ham in your sandwich. Like you don't get a sandwich and just eat the bread. Like you're not doing it for the bread, you're doing it for whatever goes in the middle. That's what we're talking about. That's what the bank is going for. It's a huge impact. And now if we scroll down, we'll see it down below here, the summary. The net interest income is that $17 billion. Now this is what's really interesting. I want to take this a little bit further. We got some discussion on this, Sarvo. So if you just do the third grade arithmetic again, we take those two numbers between one another. 58% of all of the interest that they took in every interest dollar that came into the bank. 58% of that they got to keep.

Yeah. Isn't that crazy?

Well, if you just do this math the different way, Richard. So they paid depositors 10.7 billion and they made 29.7 billion. They made three times more or 300% more than the depositor. And speaking to exactly what Richard, you have shared today, it's because they kept that money in motion. Another thing if you haven't paid attention to, Richard, is showing in this report, your deposit is a liability to them. The asset is the mortgage. The asset is the credit card. Our asset is a personal loan. Those are assets to the bank. But those assets, which the bank sees as an asset is a liability to you. But your deposit to you is an asset. So what you call asset, they call liability. What you call liability, they call assets. But in the end, who has all the money? And not just that, who's making all the money?

Who's making all the money? Who has all the money? And whose money did they use to facilitate the entire process? Yours. It's worth repeating and saying this again. And just sometimes when we say things and hit them a couple different times, it really sinks in. So key what Sarblo said.

Every asset is a liability to someone else. So when you put your money in deposit, you've got a savings account, you, you've got a checking account, you've got dollars in there. You can log into your bank today and see it Maybe even one of these banks, maybe a couple of them. You log in, look at that account. That's on your asset column. It's a deposit for you. But on the bank's balance sheet, we're look. Literally looking at it right now. Deposits are liabilities. The total deposits is under the liabilities column. That's money that they owe you, they have to pay you back. Okay. That your deposit means that you're essentially, you're a creditor of the bank. Right.

You can.

They could demand to have that money back based on the restrictions that they place on you. So. So that means all of your loans, which are a liability to you, are an asset to them. That fundamental principle is really important and sometimes it's hard to see because we think about things generally through the lens of the consumer, because that's what's where we're at. That's what we're thinking about. That's what's coming up for us. If you just take a moment, I always say, like, hey, take your consumer hat off and put your banker's hat on. And if you now looked at this deal as the banker, if you were the one that had this whole mechanism working for you, wouldn't you want to increase the amount of deposits that you had available so that you could do more lending? That's capital. And you could put that capital to work. You want to increase the stream of payments. So just recognize, fundamentally, when we get off the page of all the numbers, what's the process that is happening? Banks have convinced us that they're a good place to deposit money. We put our money in deposit. They take the money, they put it to work, they receive the payments, they keep what's in the middle, the jelly in the sandwich. They pay you a little bit of rent to try to keep you there as a customer so you don't go somewhere else. They want to hold that money there on deposit as long as possible. GICs, hey, lock up your money for five years. We're going to give you penalties and restrictions for taking the money out. We want to lock that sucker up as long as we can because we now know how long we can lend it. How many times can we lend that money over and over and over again while we've got it locked up? If you can get yourself in that situation, which you can, by the way, to your degree, through your personal economy, you can create the same general principles and implement them at the you and me level. That's what this book, Nelson's book, Become youg Own Banker is All about. We're just trying to get. We want to help consumers and business owners get closer to their money instead of being separated from it, from all these larger institutions.

So, Richard, liabilities would keep any family stressed every single day.

Because come what may, they have to pay that liability. So if you want to have less stress, you need to have less liabilities. If you want to have liabilities working for you, you'll have to find a way to convert those liabilities into assets. And the only way to do that is to become the banker for the things that you need in life that you're financing from someone else's banking system.

I'm really glad that you mentioned that because this. So now we're going to just kind of glue the pan pandemic into this again too. Because one of the reasons we wanted to do this video is, is that we're in unprecedented times. This pandemic situation. Again, a lot of people have been suffering because of that with job losses and not being able to go to work and all those kind of things. Well, everyone's like, oh, well, hey, my bank gave me six months deferral on my mortgage or whatever. And some people got those things and some people didn't. A lot of businesses didn't get any help in that situation. So all that is, that doesn't mean the bank lost money. What it means is they had a temporary shift in revenues because they weren't receiving the payments. But on paper, we still owe them that money. In fact, if you actually look at the restrictions placed on any deferrals, if you got a deferral over that time frame, you actually owe them more money because they're tacking that onto the back end of the amortization. For some people that either increase the payment when they started up again in order to square things up, the end result is you're actually going to pay more interest to that bank than what you were going to pay previously because of the deferral. So the bank didn't lose in that situation. They only lost if you defaulted on the loan and if there was no equity in the property that they could get. Which because they, because they had the collateral, they had collateral on title to the I'm using mortgage in this situation, collateral to that rental property. Now we were talking about collateral and the lien. Sarblo, let's shift on that. I want to bring this up because we kind of jotted this down a little bit earlier in our conversation. So, you know, the collateral is on the house, but the real lien is the income. Talk to us a little bit about that. The stream of payments. I like the way that you frame this up. So I think it's helpful to give people that connection.

So let's use an example like a mortgage, for example, when you go to a bank to get a mortgage financing for your property, you have to qualify, go through all the hoops. Let's just assume you have a mortgage, the bank gave you the money. And some people may think that for that money that you received from the bank, the lien is on your house. Well, here's the thing. The house is just the collateral against that loan. The lien is on your income. The lien is on your livelihood. Because if you default on your mortgage payments and they cannot collect, they don't have enough money to sell the collateral to get paid, they're going to start garnishing your wages. How does that make you feel?

Now, the bank's not in the real estate business. They don't want your house.

They want the stream of payment.

When they qualify you to get the loan originally, there's a reason it's called qualification. They're not quality. Yeah. They care that you're not buying a lemon property. Like they. They will investigate the property to a degree. That is one of the things they're qualifying, but that's not the real thing that matters. The thing that they're qualifying is your ability, your consistency on the ability to make the payment. That's all I really care about. They just want the payment.

And one of the things that we also talked about, and it was more in humor, money goes on branches, Right. Isn't it the reason why banks open more branches?

Open more branches, yeah. Every time there's a new development, what's one of the first things to go in before the supermarket's there? Banks start going up. That's the thing.

Richard, could you bring up that balance sheet again?

Yes, absolutely.

There's one more thing I think what everybody should see. So if you go into assets and we look into loans and we look at credit card loans, which are at $16.4 billion, and the interest rate is 19.31%. Now, people look at rate and they say, yeah, credit card is the worst debt. Well, banks have $16.4 billion on credit cards, and the interest rate is 19.31%. Higher interest rate, lower loans out there. And if you look at the mortgage, the loans that they have on mortgages is $273 billion. And although the rate is lower than credit card, it's only 3.36%. But where are they making the whole bunch of money that they're showing you as interest earning income? It's not from credit card, it's from the mortgage. You're focused on the rate, they're focused on the volume that's going to come back.

That's why banks often make more money in low interest rates. Money we're in dirt, low interest rates. The pandemic accelerated that. We were already at the lowest like we've ever been and then there was like a couple like a year and a half ago, two years ago or a year and a half, I guess like two, three years ago, there was like a little bit of an increase and it's like, oh, pandemic, let's bring the rates back down again so that the economy can recover. They're just manipulating that. Well, what happens is the funny money gets pushed into the marketplace because it's cheap money, they can lend more of it. So what does that do? It pushes the values of real estate up again. So now it's just a hidden tax on everybody is all it boils down to. But the bank is just, they're loving it because even though the interest rate, like you can get an interest rate today, right now, like on a variable as of the time of this recording of like 1.35%, that's ludicrous. What ends up happening though? More people are buying more people who spend money, which means the prices pushes the price of the real estate up, which means the bank, although the rate is super low, the volume of money on per deal went up. So they're happy. They've got you on a 25, 30 year pledge to make payments. And if you want to break the contract penalty, which is a prepayment of contractually obligated interest, you signed a contract, the bank has you on the hook. If you break that contract, boom. The penalty is like you sign the contract to pay us a certain amount over this five year period of time or ten year period of time, we are going to get squared away. Here's how we're going to do it. We're going to put a formula on page 17 of the Mortgage deal. This is how we're going to ding you if you try to break this deal that you've got with us. So what you're saying is so important, Zarbo, because of all these interest earning lines, this residential mortgage one is the biggest. It's the thing that's producing the largest amount of payment streams coming back to.

The institution when Pandemic happened. Everybody was so stressed because some people lost their jobs, some people had, they still had their jobs, but the income went down. And the reason why it stressed them so much was because of the loss of income. And they hadn't planned to accommodate that loss. Right. They still had the mortgage payment due, they still had the car payment due, they still had credit card bills to pay. So one of the key things that we have learned is, and this is what I teach all my clients is, what we teach all the clients is life is going to happen no matter what, can plan for it, but you cannot predict when it's going to happen. So one of the things that we learned and our clients learned is if you're not the banker, when the next time life happens, those are the things that is going to be worrisome for you.

All the stress that you've been put under if assuming that you've, you know, like some people have been just killing it and being ultra profitable too, in which case, like, congratulations, but sooner or later the shoe goes, you know, the shoe hits the other foot. At some point it's going to go from being rosy to being in the mud. How are you going to be positioned when it happens? Are you going to be positioned to be in more control, to be able to dictate the terms of your financial life? We think you should. We would encourage you to investigate how to do that. There's tons of videos on our channel to explain some of those things. A lot of good resources out there. But make sure that you're seeking a way to increase your control over the, the, the financial condition by which you operate. We operate in an environment. You know, Nelson does uses a plain analogy in his seminars. In his book, he would talk about getting into an airplane and you can't fly an airplane in a vacuum. You can only fly inside of an environment. And that environment changes and you have to make adjustments based on how it changes. So you're operating in a financial environment. You want to be able to control as much of that environment as possible. You may not be able to dictate the wind, like, you know, high pressure system coming through, but if you can control other aspects of it, you're in a much better position. It takes the pressure off, it takes the stress off, and it allows you to move forward with confidence. When you're confident in your financial life, opportunities just come knocking on your door. They start to find you. So when the things shift, the next, you know, the next big problem that we're going to deal with, and you know, there's certainly a lot of talk of them. I'm sure you can find a ton of videos on YouTube telling you what it's going to be. But you make that decision for yourself. Do your own research. When that shift happens, and it will happen, how are you going to be situated to capitalize on the opportunities that exist at that point? If you're your own banker, you've got readily available access to capital without restriction, you can move that money quickly into opportunity. You're going to be in a very good position.

We believe that you deserve a life of financial freedom. We truly believe. But you cannot achieve financial freedom when you're still depending on someone else's pool of capital to achieve that financial freedom because you don't control that transaction. To truly achieve financial freedom, you have to independent yourself from someone else's pool of capital and control your financing environment just how Richard mentioned. So you are in total and absolute control no matter what happens.

Now, I know we're going to, we're going to end this here quickly, but there's one final thought that I want to leave people with in relation to this situation with banks. Because we, we kind of went down the rabbit hole a little bit with it. And that's. People think that banks invest money because what happens is we often are doing our business at the bank on a consumer basis and the bank has investments for us. They have investment advisors. Nothing against any of those people or individuals. I'm just, they just, it's just a product that they have. But if the bank has a bag of mutual funds, whatever they've got, they've got all these products and you're going to go and you're going to go and purchase that product through them through an account at that bank. That bank isn't buying their own product.

If you're a TD bank, TD bank sells mutual fund products, as does every other bank on the list. Good for them. That's a great product. They're offering a service to consumers, but they are not also buying the same mutual fund that they created. They're not investing their money there. You know what they are investing their money in? Marketing. They're opening up new branches and then they're giving away iPads and tablets to bring you in as a customer to open up a new account. Because they want your deposit truck. It's your deposit that allows them to make the interest revenue, which is 60% of their business. They're not investing money in mutual funds. They're creating those as a product to make you happy?

Bank will loan you money to buy properties, but bank will not loan you money to buy its own stocks.

It's like, it's crazy, right? Because it's a risk and they understand, they mitigate risk. Yeah, we're going to underwrite them. We're going to invest money in stock. What stock? Our stock. Well, we're doing pretty good. We've got good history, but not sure if we're really to lend on that deal. It is weird. It is kind of weird when you really start to think it through. So we encourage you guys. Thanks for listening and for doing your research. Make sure if you found this information helpful, maybe you found this upsetting. Maybe we just like you were ready to like, flip tables over and flip out. Please don't like, write. Write angry letters or whatever to your bank. They're just a business. They're just being a capitalist, profitable business, you know, Good for them. They figured it out. Recognize that you can figure it out, too. And what we encourage is that you do some more research. Check out the videos on our channel. You know, you're going to be seeing a playlist come up right away. Click through that playlist, dig into some more information. Understand how this process works. Get a copy of this book that we showed you. Becoming your own banker. Like, read it. It's 92 pages. Get off your butt. Order a book. Get some knowledge. It's okay. No one's going to bite you. Just figure it out and, you know, take control of your financial life. That's our wish for you.