Viewing a response to: @hedgeserv/banks-vs-bitcoin-cyrpto-my-thoughts
I think banks, and governments, feel they can do as they please and the little people like me have to accept it. It's a growing trend where our money isn't *our money*. The problem with all our money being in the banks, and accessed by ATM's or credit cards is they can turn them on and off...I doubt the situation is going to get much better. Thanks for your post and supporting the posting initiative. It is greatly appreciated.
| author | galenkp |
|---|---|
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Thanks for the reply! I agree 100%. They can turn off the access to the cash if too many people wanted cash all at once. Most banks have withdrawal limits per day and things like that in the terms to restrict people from having their money. I mean it makes sense from their point of view so they don't need to physically have tonnes of cash on premises but still it's less freedom for the common person. I think it's crazy for us to be charged fees as well, they store and earn off out assets and charge fees for the privilege. Or some banks waive fees if your balance is above X amount all the time but charge the poorer folk money if the balance drops below. From a fairness point of view helping the worst off stay badly off! Honestly, on the loan rates and credit card rates, banks should easily be able to profit with charging current account (chequing account) fees.
| author | hedgeserv |
|---|---|
| permlink | re-galenkp-qb0dhw |
| category | banks |
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I don't like the banks. Sure, I have some money in there, but most is in metals, silver and gold, and a little crypto. The metals make me feel a little safer as I can access it immediately. A few phone calls and it's cash in hand. Most people don't know what's going on with their money and figure it's safe in the bank. It is not. The seek to control us, as with governments and media so the trillionaire's make more, and the billionaire's become trillionaire's on our backs. COVID is good for business too. These days a *little person* (like me) is better off not planning ahead, investing, as the hand-out society rewards that more than planning ahead financially. Still, I'm a slow learner and I plan ahead for my financial security, whilst paying taxes for those who don't. I must be dumb.
| author | galenkp |
|---|---|
| permlink | qb0mar |
| category | banks |
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| created | 2020-05-28 00:20:54 |
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I agree money in the bank isn't safe. It would take me time to get used to having precious metals around. If you have it at home and your place gets burglarized you may as well have had cash under a mattress if the thief's know how to open the safe. And if some company is holding the metals it's likely safer but not in your control. How do you balance those sort of thoughts? And yeah I fully agree CoVid-19 has been a shining star for Amazon and some companies in medicine, especially emergency medicine. I disagree with handouts but take what if anything is available from the government because I'm already paying enough as income, sales tax and other taxes. Planning ahead could add many healthy years to your life. Relying on the government to fix all emergencies or other unexpected events is not a good strategy lol but I know I don't need to tell you that!
| author | hedgeserv |
|---|---|
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| category | banks |
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