Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

What The Banking Business Is All About

24 Jan 2025 · 1 min

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A short spoken excerpt by Richard Canfield explaining the fundamental role of banks: they act as reservoirs or storage locations for money and capital and must enable the timely flow of funds between parties at a cost to facilitate business transactions. The speaker asserts banking is essential to all business because without money flow, transactions cannot occur.

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Banking is the most important business in the world. Without it all business comes to a screeching halt. Whenever a business transaction takes place, money must flow from one party to another in a relatively short period of time. Otherwise, nothing takes place. That's the process of banking that Nelson's talking about. The flow of money must come from a supply source or a reservoir. And that's what a bank is. Snowbank blood bank is a reservoir. These are the storage locations for money, for capital. This is the essence of what the banking business is all about. Someone or some organization has control over a pool of money that can. In other words, it has the ability to flow. And it must flow at a cost to meet some need.