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.
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.
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.
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.
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.