The bank controls your money with fees.steemCreated with Sketch.

in bank •  8 years ago 

Why Trust Banks with Your Money?
We are told that our money is safe and secure at the bank because
the government guarantees it or insures it, if it is stolen or robbed.

Numerous bank fees and maintenance fees prove otherwise. Fees
are a legal way to steal bits and peices of your money, and when
you accept those fees and pay them, in a way you are agreeing
with the bank to posess your money.

Do Banks really Safeguard Your Money?
Yes they do, but remember, the bank has total posession of your money,
you do NOT have posession of your money as long as it is at the bank.
A lawyer can file paperwork to Garnish that bank account and the bank
may, in turn charge a $100.00 dollar "garnishment fee" for that, draining
your account further whether it is right or wrong. The bank will say that
their hands are tied, and then the bank gladly takes their $100.00 dollar
"garnishment fee."

Are Banks in Business to Make a Profit?
Yes, of course, banks are in deed in business to make a profit. Just
notice all of the different fees. How much interest do banks pay? Not much
more than 1.26% if it is a savings account. Maybe not even that, unless
your money earns the bank more for storing it.

What happens when the Bank has DEBT?
Starting in the late 1980's or 1990's, a Japanese bank had "too many"
bad loans on their books. Defaulted loans and defaulted mortgages on the
bank's books did not make the banks happy, even though it was the bank
that made the BAD decisions to make those loans in the first place. The
Bank needed to get those toxic default loans off of their accounting
system. They managed to do that conveniently with a derivitive called a
"Credit Default Swap" and/or CDO.

Other banks followed suit with this "Wonderful Magic Derivitive." Bad loans
removed from bank accounting ledger. Magic!

Very convenient for as long as this derivative and it's secret was kept.
The derivitave was later clustered with others and given a very high
rating as an investment, at least until 2008. The result was, guess what?
A huge global financial crises. A great recession.

What happens when the bank makes loans that they should not? The
entire world pays for it.

Does the Bank have control over Your Money?
Yes, if that is where you store it, The bank has posession of your money.
You do have some control over it though, Just not posession of your money
You can spend it all, if you wish to. But you will pay some high fees if you don't
have much money there at the bank.

Cyprus, Greece and the European Union Bailout.

Remember what happened in Cyprus, Greece? As quickly as Cyprus residents
heard that their individual deposit accounts were going to be tapped, for the great and
wonderful "bailout" many Cyprus, Greece residents begain withdrawing their money
from the bank. Some Cyprus, Greece residents were even exchanging their money
for Bitcoin, a new digital currency. That was in 2013. That caused bitcoin to spike
in value. Residents of Cyprus Greece were attepting to take control of their own money,
instead of allowing banks to keep control of individual deposit account-holder's
money.

Is it Legal for the Bank to Take Ownership of Your Money?

Yes, it is perfectly legal for banks to take control of your money, especially when
the government or union tells the bank to take control of and posess your money.

Many grandmothers and grandfathers who lived through the great depression, if they
are still living, they keep much of their money between their mattresses in there
beds.

Now, you finally know why your "Old-Fashioned" great grandparents or grandparents
act the way that they do. They are not stupid. They have adapted to an unfair and
"dangerous" system.

Digital Wallet.

In this 21st century, many a digital wallet is more secure than grandmas mattress.
Unless your digital wallet a "Parity" wallet, it is cryptographically secure and without
an exploit that can be used to steal from that wallet.

Do some homework. Trust core and foundation wallets. Thos are tested more thoroughly
than third-party wallets.

Great grandparents adapted. We love you!

Great-Grandmothers and Grandfathers were smart enough to adapt to bank tactics
in many cases. Not all were a success, but grandparents did what they could or had to
to posess their money and survive the great depression and the banks greedy methods.

Love and best wishes to ALL great grandparents and grand-parents everywhere in this
world!

Kisses and hugs, we love you!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Yeah, thats true. Our grandparents knew to keep the money outside of the banking system. The government doesn't want this and is slowly making laws making it harder and harder to store cash.

  ·  8 years ago (edited)

Grandma knew something she didnt talk about.

Nicely said!! The whole banking system is a designed to fail system, taking everyone's "wealth" with it. Except for the ones that own the banks. When I checked a couple years back the banks in the US had 14 trillion (+ or - ) on the books. But there was only 1.3 trillion in circulation. Hmm that's sounds like a recipe for disaster to me.

They just keep printing more money.

Someone, perhaps Satoshi Nakamoto needs to come to the rescue of addictive money-printers.

If he can fix greed and the need for power and control that is an option.

  ·  8 years ago (edited)

@jlsplatts Lots of tough work. I dream that steemit.com can help the world if we put our collective minds to the task.

Just a figure of speech is all.

😮 O.K.

Thanks for sharing...

  ·  8 years ago (edited)

@wrayca We love you too, young one!

Share your experience, and what you know about systems.