Reacting To South Park's Your Money In The Bank Is GONE!

I suspect people watch this clip and they immediately tune in to like I remember that feeling like ah, that happened the last time I was in the bank. Those rotten scoundrels.

Okay, this is going to be a reaction video to the south park and it's gone clip.

Do I really have to do this, dad?

Stan, now more than ever you need to understand the importance of saving money.

But grandma said I could use this money to buy whatever I want.

Okay, next please. Go on Stanley.

I love how his dad's like, oh, you know, you gotta start saving, it's really important. You gotta put this in the bank. You know, the video is kind of talking about what society, you know, you, whether you know the importance of education even at the kid level. I mean I've seen this video before a number of times. In fact we used to play this video at live events that we would do when we were hosting, you know, like an all day training event. You know, we would, we would have breaks and then we'd stop and you know, you know, we'd always kind of kick things off. You know, you spend a whole day learning in a room with a bunch of people, it's nice to have a funny video to engage them. But when it's also relevant to, you know, what you're teaching and we were teaching the process of becoming your own banker. This is one of my absolute favorites and it was always a big hit when we would do these sessions but you know, just kind of seeing it again fresh. It's been a while, you know, probably a couple of years since I've actually watched this. How you know that, that recognition of like, you know, kids need that extra bit of education and they need to start understanding the power of not just what savings is but like what putting money to work for a long time can create. And really especially the younger you begin, the younger you start, what's that impact of lifetime compounding now when you do that in such a way where you're implementing the process of becoming your own banker and especially for kids again. I've got a number of videos on the channel where I talk about even my own kids policies. In fact, I'm going to be doing a live webinar on that upcoming here shortly and I'm really excited to share what we're doing as parents for our children and what we believe and what we helping them understand by bringing financial conversations into more day to day activity. They're still very young, but I'm doing my best to try to embrace that and really start to impart the idea of not just savings, but that we operate with a family bank. And so my kids are learning and beginning to understand what the family bank is and what family banking means. And that when we access money, we put money back into the family bank. Interestingly enough, we recently got a hot tub with a policy loan using the family bank. And one of the rules that we have, you know, is that it's a technology free zone. Obviously, first of all, you don't want to be dropping your phone in the hot tub. That's not good. But you know, it's, it's about, you know, just having that relaxation and that peace and it's a chance for us to connect with our kids and you know, so we'll play 20 questions or do any number of things with them there. And we were doing 20 questions just the other day and you know, the kids are trying to guess what something is. And one of the guesses that my daughter has is it's the family piggy bank. And so I thought that was really awesome. And it just goes to show you that these lessons that we're trying to impart are starting to really take hold. And it's something that's on their mind as well. So anyhow, back to the video.

How can I help you, young man?

I got a hundred dollar check from my grandma and my dad said I need to put it in the bank so it can grow over the years.

Well, that's fantastic. A really smart decision, young man. We can put that check in a money market mutual fund, then we'll reinvest the earnings into foreign currency accounts with compounding interest and it's gone.

I never really watched this show before. This is the, really the bulk of what I've ever seen in this program and I think it's fantastic. I love the characters. So just that experience and I feel like people who watch this, you know, this is, this is going back to like the 2008 financial crisis, but here we are, it's completely relevant again today because people are looking at their stock portfolio accounts and sure enough, look at all that wealth that you'd created over the last 10 years and it's gone. And similarly, I just did a video here a couple of days ago with my friend Roman where we talked about the, the impact of. In Canada there was this telecommunications giant, Rogers. Their network was down for like an entire day. It was a huge, massive problem. And, and so like the network was gone. And meanwhile you're trying to like access your accounts or stock portfolio or maybe you've got a trading app on your phone and you're trying to like close deals or whatever. Like just imagine how many people that are actively trading with their financial accounts or moving money around using their telephone device. You know, the computer that's in your hand and you can't access any of that network, you know, to complete those transactions. You, you know, I would imagine there's some wealth that was lost just because of that. And it's had nothing to do with. Now the, the market. In this case, I'm referencing the stock market. It had to do with the fact that you couldn't connect. So there's all these like, risks on your money. And you know, the banking system, banks in general, I, I don't know what your take is, but I'm just finding as I communicate and talk to people on a regular basis, they're just fed up. They're just like ready to flip their desk over and say, I'm out. I want out of this thing. You know, this whole schmazzle, this thing's a scam. They just, they're just so frustrated by how the banking system in general doesn't seem to be looking after them. It just seems to be taking from them and taking and taking and taking and never giving anything back. And that's why we're trying to get people to implement this process of becoming your own banker so that you can become independent. You can, you can unplug yourself from the system that's not there to support you, and you can begin supporting yourself in a system that you own and control. And you can do that in free contract with other free people. Let's continue on here and see what Cartman has to say.

What?

It's gone. It's all gone.

What's all gone?

The money in your account. It didn't do too well. It's gone.

What do you mean? I have a hundred dollars.

Not anymore you don't.

Poof. Can't help you anymore. Your hundred dollars has disappeared. So just like the speed of that transaction happening, I just, I think it's fantastic. It's a little micro way of explaining how people felt during the financial crisis and I think how people are feeling again right now today.

Well, what can I do to get back?

I'm sorry, sir, but this line is for bank members only.

I just opened an account.

Do you have any money invested with this bank?

No. You just lost it all.

Then please stand aside for people who actually have money with us. Next, please.

It makes me think of some of the last experiences I actually Physically going into a teller at a bank, and I was opening up a new, A new corporation. I need to get new business accounts. And I was trying to move money from one corporate account to the new one and get things set up. And there's limitations on when you open up new accounts, on how much you can transfer back and forth. And then they want to ding you with a bunch of fees. And I'm like, I don't want to go in and see the teller. This is a huge pain in the butt. So I was so frustrated that day. And so it probably didn't help that maybe my attitude wasn't on par with having an awesome day. Going into the bank. I didn't want to do it, but just trying to get something done, waiting in the lineup, getting there, explaining. I just want to go from here to here. This bank account is with you, I'm the owner. This bank account is with you, I'm the owner. I want to make sure I can move money from here to here. And, and like something that should be just so dead simple and easy because of online banking transactions. Like, I shouldn't have had to go in and talk to a physical person and just. It ended up taking like an hour, an hour and a half out of my day. Fighting traffic, returning home, waiting in the lineup, you know, spending 20 minutes with the teller, getting them to sort things out. It was just so aggravating and frustrating. And when I watched this clip and this guy's just like, do you have any money invested with us? And he's like, no, you lost it all. It's like you're just a number. And that feeling that's created. I, I suspect people watch this clip and they immediately tune in to like. I remember that feeling, like, ah, that happened the last time I was in the bank. Those rotten scoundrels. And it's not that, you know, it's not the people at the bank. Like, people are just people. They're just doing their job and doing a great job. But it's like, it's the training, it's the, it's the mindset, it's the, it's this like the machine. It's just, you're just a cog in the machine and you're getting ground up, you know, by what the machine is doing. And I just think it's, it's frustrating and irritating and I think this video isolates it really, really well.

Next, please.

Hey.

Hello, Mrs. Farnickel. How are you today? Making a deposit, are we? Great. We can just put that into your retirement account and make it go to work for you. And it's gone.

What?

Sorry, yeah, that's gone. Please step aside for people who actually have money with the bank. Next, please.

Dad.

Hey, I'm trying to teach my son the importance of savings. You already lost his money. Oh, Mr. Marsh, don't worry. We can just transfer money from your account into a portfolio with your son, and it's gone. This line is for people who have money with the bank only. Please step aside.

And so it's like they're, you know, in practice, that doesn't. At least I don't think that happens at a normal bank. But I, I love how the video is portraying. Hey, look, we have control of your money because technically, the moment that you put the money here with us, it's not actually yours anymore. We're now the owner of the money, weave the custodian of it, and we can, you know, manipulate, move things around. And, oh, by the way, it's gone. It's like, you know, people, back in. I think it was like 2011, there was a big kind of run on the banks in Cyprus. And, like, people showed up to try to withdraw out of the ATMs and go to the bank, and their money wasn't there. And so I envision just somebody standing at this bank and the teller machine, it's like, you know, when you walk through the first doors and you're like, you're in their building and you're trying to access it out of their machine and your account says it's at zero because there's a run on the bank and there's nothing you can do about it. It's because the moment your money's on deposit with them, it's not yours anymore. It's. It's. It's theirs. You're giving them the money. They have an iou. They owe you money. You're a creditor of them. Your deposits that you see in your checking, your savings account, that's you loaning them the money, which means you're a creditor of theirs. They owe it to you. But if they don't have it, you're not getting it. And that's kind of what comes up for me as I'm. As I'm watching this with a fresh set of eyeballs. Anyway, so that's the end of the video. I hope you enjoyed this reaction. I think that the banking system, it is what it is, and it's got a lot of years under its belt. And they have built up this idea of Faith and trust in as, as trustworthy institutions. But in the same respect, because of the commercial banking system and the fractional reserve aspect of it, where money can be in essence to, to a degree manipulated and manufactured to a larger amount. Where that money really comes into being is when we put our money on deposit, then they can kind of sweep those accounts and determine how much they have on deposit, which gives them a ratio of what can be lent. But it doesn't mean that they just willy nilly go and create money out of thin air. The money is created when the loan demand comes in. So if we're depositing money into a bank, you know, a typical brick and mortar type bank, and then we're also going and asking that bank for access to money by way of a loan. So a mortgage, a line of credit, you know, car loan, whatever, when we go to ask for the loan, that's when the money gets created because we're signing on the document saying that we have a promise to repay that. So they don't really need to create anything because the, the real money is the repayment stream. That's where you have to go and work and work and work and then have the money come into your bank account, your account and then it gets withdrawn and sucked away back to them. It's that stream of future payments that is where is where the, the money really is. Everything else was kind of just a fiction. And so that's part of what, you know, in the Austrian mindset of the world, what at least what I believe from my understanding is a leading cause of what builds this thing that everyone's, you know, moaning about, which is inflation. And that's likely. Everyone should be. If they're not moaning about it, you should be. Because it's a real problem. It's a hidden tax on the backs of consumers, Canadians. And we need things to combat it. And so one of the first steps that can be done is that we, we stop adding to the problem that's being created. If we can remove our deposits so they can't fractionalize our money and we can remove our borrowing and lending business from that commercial sector and we do it with free contract with other free people through the basis of mutual life insurance, which is part of the structure. On how Nelson talks about becoming your own banker. We are separating ourselves from that system. We're unplugging and we're now becoming part of the solution versus part of the problem. So anyhow, hope you found this fun. It's a great video. Make sure you check it out and watch the whole clip, maybe without me interrupting along the path and tune in for some more great reactions that we come out. We don't do them all that often, but when we do, we hope you enjoy and continue checking out the next video popping up because there's some more great content right there for you. Cheers.