by Jeff Berwick
Centuries ago banks actually stored real money (gold) and gave their customers paper receipts which made transferring and transporting easier.
Then as time went by, banks just began storing currency. Unbacked fiat paper is not money.
In those days the term “bank robbery” used to mean a man with a gun would come in and steal the currency from the bank.
Now, in the 21st century, the term “bank robbery” has a completely different meaning. Now, to quote the popular Russian turn of phrase, the bank robs you!