Why General Motors Must Become Deposit-Holding Bank To Survive
November 12, 2008 – 11:57 am
General Motors has run out of options. When it collapses, several people will lose their jobs: hard workers who create the cards, the people who finance the cars, and the people who make the parts and tools for the people who create and finance the cars.
To meet all its obligations, General Motors must become a deposit-holding bank.
Here’s why:
- Banks are more important than anything in this world. Banks print fiat funny money currency and call it valuable. Access to the Federal Reserve discount window will provide General Motors with unlimited access to money.
- Even if everyone loses their job at General Motors, the company — errrr I mean — the BANK can give out the big bonuses that those executives deserve, while paying the pensions for the former employees. Where will all the employees keep all the money they earn from General Motors, you ask? IN GENERAL MOTORS BANK!!– direct deposit— coool!
neat!
Makes sense?
Okay, now…
Everyone dance.
