Posted on 04/03/2023 10:48:47 AM PDT by MtnClimber
We tend to think of banks as places that store our money, give us interest on that money, and make loans. In the 21st century, though, they can do so much more.
Most Americans cling to the old-fashioned notion that a bank honorably holds their money and pays interest on that money, with the interest coming from the fact that the bank loans that same money to others for an even higher interest rate. We all imagine Jimmy Stewart explaining how banks work to his Bedford Falls neighbors in It’s a Wonderful Life. That’s not true anymore and, Australia’s experience illustrates that, in the 21st century, banks have almost unlimited control over people’s lives.
My parents were loyal to Australia’s Commonwealth Bank way beyond what was logical. It took a lot of evidence from the bank’s own actions for them even to consider changing banks, and even then, it was emotionally painful for them. The reality is that banks have been appalling for a very long time, and their pathology has been progressing exponentially lately, as they no longer try to hide their craven intent.
SNIP
Banks block our accounts for any number of reasons. My favorite is because a government bureaucracy decides the accountholder transgressed. As we all know, in the world of bureaucracy, everyone is guilty until proven innocent. Getting access to the account again is an uphill battle. You must spend time and money proving that the money you earned and that you put into the bank for safekeeping is, in fact, your property. The costs associated with that proof are yours alone to keep you in your place—and the interest during that time is the bank’s bonus.
(Excerpt) Read more at americanthinker.com ...
With Central Bank Digital Currency (CBDC) there will be nowhere else to go.
Just another step on the road to the Antichrist and the one world government.
Hamilton was wrong and Jefferson was right to fear the banking establishment?
banks are the government’s secret police...
Get constitutional money.
Bank small and have multiple banking relationships, preferably with state chartered banks, preferably in two states or countries.
Keep husband and wife bank accounts separate.
I’ve had weird issues come up due to the extent of my international travel possibly malicious and this saved me.
Yuppers...
My Mattress is Full!
George Bailey ran his family’s co-op savings and loan. not a for-profit run bank.
the town ‘bank’ (and the town) was ‘run’ by the evil Mr. Potter, the proxy for corrupt and greedy big money and ‘new deal,’ big gov’t in the story.
and actually i think it was called the Bailey Bros. Building and Loan.
Which makes the “Lost Ending” of It’s a Wonderful Life even more satisfying.
https://www.youtube.com/watch?v=vw89o0afb2A
This same crap is happening right now in the US with the ChexSystem. It is a reporting system used by nearly 90% of US banks. You have a problem with ONE bank, you have the same problem with ALL of them. If your bank gets ticked and freezes your account, not only can you not get your money, but you cannot open a new account with ANY OTHER bank on the system.
My daughter had an account with a federal credit union in Arizona. Later she closed her account and opened another with Wells Fargo in Phoenix. The credit union did an audit a few months later and decided she owed them something like $40 from a loan she had paid off already. She had moved and they had no current contact information, so it went to the ChexSystem.
Wells Fargo saw the ChexSystem entry and immediately froze her account in Phoenix. Her automatic pay deposits kept going into WF, but nothing could be taken out. The bank told her she must go get it straightened out with the credit union before they would release her account.
She went to the Credit Union, which admitted it was their mistake, and got her account cleared with ChexSystem. Wells Fargo, however, was not satisfied. It took MONTHS before she could get them to release her account, even though the Credit Union said it was their mistake and she was all clear.
With this kind of hassle with systems now in place, I CANNOT IMAGINE what might happen with a centralized federal digital currency account if someone decides they don’t like something you may or may not do.
Only because we have and are letting it happen. No one to blame but ourselves for any of this.
Lets see, Wells Fargo gets caught opening up accounts in customer’s names. Basically, identity theft.
DOJ prosecutes, bank pays a $3billion fine(IIRC) which goes to the Feds I’m thinking. No one charged with the crimes that were committed.
And I’m sure WF just raised some fees to pay the fine or recoup the fine, so their victims paid the fine for the crimes committed on them.
i’d forgot that Shatner hosted that show. he looked so 80’s.
That is the way things happen now in the USSA. The BIG thief does not like the little thieves infringing on their territory.
One of the solutions is COMPETITION. If you don’t like what Commonwealth Bank is doing move to anothr that will treat you better.
Unfortunately, last I checked, Australia only has four major banks and they’re all similar. It’s as if these 4 big ones are forming a mutual cartel.
The four are: COMMONWEALTH BANK, ANZ, WESTPAC and NATIONAL AUSTRALIA BANK.
They’re considered too big to fail. The little ones are NOT.
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