The current trend of removing cash is a serious mistake

zerosugarbuzz

zerosugarbuzz wrote: »

100% I am.

Like even outside a bank's collapse? You think a bank might just decide to not give us our money or something?

Wanderer78

Deleted User wrote: »

Like even outside a bank's collapse? You think a bank might just decide to not give us our money or something?

eerr emm, this only recently happened in greece, and we were effectively threatened with it!

Wanderer78

Wanderer78 wrote: »

eerr emm, this only recently happened in greece, and we were effectively threatened with it!

You're talking about governments, not banks.

Wanderer78

Deleted User wrote: »

You're talking about governments, not banks.

both entities are in reality intertwined, baring in mind, the majority of our money supply is created by private sector financial institutions, but is facilitated and supported by the public sector and our political institutions

Wanderer78

Wanderer78 wrote: »

both entities are in reality intertwined, baring in mind, the majority of our money supply is created by private sector financial institutions, but is facilitated and supported by the public sector and our political institutions

That's a lot of words for saying absolutely nothing. Do you think banks can be trusted with our money?

amacca

Deleted User wrote: »

Are you genuinely suggesting that banks can't be trusted with our money?

You do realise there are many many examples of banks that couldn't be trusted with peoples money?


Never mind historical examples, look to our recent and not so recent past

I offer Anglo as an example, could you really trust them given what we now know

Irish nationwide, coukd they be trusted?

Thats before we get to central banks, govts etc...
Id argue they can do what is expedient too and can **** uo massively as well

The only reason a lot of people still have their hard earned savings is because there was s state guarantee

Thats why a lot of sensible people started distributing savings about 14 years ago so they had no more than 100k in any one institution....so if it did go tits up they would hopefully be able to reclaim it all as they wouldnt all fail

The only reason you can trust s bank is because they are a systemic risk and s govt usually steps in to guarantee your cash as there woukd be civil unrest otherwise


Banks are about as trustworthy as the less savoury kind of used car salesman imo

Then take the mis selling of mortgage protection


I myself would be wary of holding too much cash if there is a severe ecomomic slowdow ....or for that matter too much debt

When the money merry go round stops someone wont be able to hold on especially if its sudden

Wanderer78

Deleted User wrote: »

That's a lot of words for saying absolutely nothing. Do you think banks can be trusted with our money?

think about it!! which parts dont make sense to you, i ll try my best to explain it, but i may not be able to, but i ll try. simply answer to your question, clearly no, but it is complex to the point, we dont know for sure

Montage of Feck

I'm beginning to think a lot of people round here would actually prefer an East German style regime than going back to the way things were pre covid.

Wanderer78

amacca wrote: »

I myself would be wary of holding too much cash if there is a severe ecomomic slowdow ....or for that matter too much debt

im expecting a financial sector wobble again very soon due to this, and again, it ll more than likely be due to private debt, but public debt will probably be blamed, again!

Wanderer78

Montage of Feck wrote: »

I'm beginning to think a lot of people round here would actually prefer an East German style regime than going back to the way things were pre covid.

how so?

kenmm

[Deleted User] wrote: »

You're talking about governments, not banks.

Markets are already all over the place. If a bank is about to fall, you think they are just gonna let everyone take all their cash out? You think it would be even possible?

Not just Greece, look at UK, northern rock etc. Lots of examples around the world..

Right so governments raiding bank accounts and global financial collapse are examples of why we can't trust a regular bank with our money on a day-to-day basis.

I'm out. I could stare at a blank wall and it would be better use of my time.

Wanderer78

Deleted User wrote: »

Right so governments raiding bank accounts and global financial collapse are examples of why we can't trust a regular bank with our money on a day-to-day basis.

I'm out. I could stare at a blank wall and it would be better use of my time.

more or less, yup, but it is extremely complex

fair enough

zerosugarbuzz

[Deleted User] wrote: »

That's a lot of words for saying absolutely nothing. Do you think banks can be trusted with our money?

Only because you don’t, or choose not to, understand what is being said.

theballz

makeorbrake wrote: »

A couple of things. When you hand your hard earned money over to a bank, it's not yours. You just have an IOU note on that money.

Secondly, it won't be held by retail banks - it will be held by the state (the central bank) - with retail banks being taken out of the equation. The government has direct access to your funds with the banking intermediary taken out of the equation. That's in the case of central bank digital currency (CBDC) which is where this is headed.


You think banks are currently holding your money in a 'vault'? Aside from the fact that its electronic cash within the banking system, fractional reserve banking is in play.
On the 'click of a button' aspect, if you have a CBDC, the state can freeze or vapourise your money directly. They don't have to get an order for an intermediary to take action.

And I suppose the moon landing never happened?

theballz

zerosugarbuzz wrote: »

I’m amazed that anyone would trust the banks so much, given the overwhelming evidence over the past 15 years that they can’t be trusted.

Still waiting on that evidence

Wanderer78

theballz wrote: »

And I suppose the moon landing never happened?

no idea where this one is coming from, but i do believe it occurred, i could be wrong of course, like anything in life

Wanderer78

theballz wrote: »

Still waiting on that evidence

disturbingly, i suspect many people are in a similar position as yourself, i.e. not realizing the potential dangers here

theballz

Wanderer78 wrote: »

disturbingly, i suspect many people are in a similar position as yourself, i.e. not realizing the potential dangers here

Can you please provide examples of such dangerous and where/when this has actually happened to a regular joe soap like you and I for no reason?

This thread should be in the conspiracy theories section. Plenty of words, zero context. Total nonsense

kenmm

theballz wrote: »

Still waiting on that evidence

A quick Google will show you problems still experienced by the collapse of Northern Rock. Want me to Google more failing banks?

Wanderer78

theballz wrote: »

Can you please provide examples of such dangerous and where/when this has actually happened to a regular joe soap like you and I for no reason?

This thread should be in the conspiracy theories section. Plenty of words, zero context. Total nonsense

yup, this is becoming extremely scary now! events of 2007/8 mean anything to you?

theballz

kenmm wrote: »

A quick Google will show you problems still experienced by the collapse of Northern Rock. Want me to Google more failing banks?

I’m not asking about bank collapses, I am asking for examples of where/when people like us have had everything taking from them in “one click” as previously suggested.

amacca

theballz wrote: »

Still waiting on that evidence

You only have to look back to around 2008 in this country......and lots of other ones too.....theyve proven themselves inherently untrustworthy over the years


They are just collections of people after all....

theballz

Wanderer78 wrote: »

yup, this is becoming extremely scary now! events of 2007/8 mean anything to you?

My parents lost everything, not because banks took it but because it was a recession and there business went bust.

It means a lot to me but again, not an example of how the banks just “took there money,” they didn’t. So explain to me, which bank has done this on people for no reason as suggested in this thread?

You keep responding with back with short responses but you are dodging my question. Try answer it.

Wanderer78

theballz wrote: »

I’m not asking about bank collapses, I am asking for examples of where/when people like us have had everything taking from them in “one click” as previously suggested.

if the control measures of our monetary systems are concentrated, it increases the likelihood of effective 'one click' control

Wanderer78

theballz wrote: »

My parents lost everything, not because banks took it but because it was a recession and there business went bust.

It means a lot to me but again, not an example of how the banks just “took there money,” they didn’t. So explain to me, which bank has done this on people for no reason as suggested in this thread?

You keep responding with back with short responses but you are dodging my question. Try answer it.

...and how did this occur?

our banking systems, both in the public and private domain, played significant roles in this occurring

theballz

Wanderer78 wrote: »

if the control measures of our monetary systems are concentrated, it increases the likelihood of effective 'one click' control

“Likelihood” being the key word here. So you are accepting this has never happened and are worrying about something that could happen.

Total nonsense.

Mods please move this to conspiracy theory section.

Conspiracy theories are the ultimate refuge of the powerless and paranoid. If you cannot change your own life, it must be a great force controlling it. Wake up lads.

theballz

Wanderer78 wrote: »

...and how did this occur?

our banking systems, both in the public and private domain, played significant roles in this occurring

So is this about a state collapse or about removing cash from society? You are changing the subject now.

Wanderer78

theballz wrote: »

“Likelihood” being the key word here. So you are accepting this has never happened and are worrying about something that could happen.

Total nonsense.

Mods please move this to conspiracy theory section.

Conspiracy theories are the ultimate refuge of the powerless and paranoid. If you cannot change your own life, it must be a great force controlling it. Wake up lads.

please be aware, many respected commentators, including central banks, are currently researching these possibilities, events of 2007/8, and the proceeding years, to date, are increasing the likelihood of these possibilities, there is no wide-scale global conspiracy here, we have created highly complex systems and processes, that potentially are conspiring against ourselves, i.e. it is our own creation, there is no conspiracy

begbysback

Anyone who champions removing cash from society is likely heavily invested in crypto.