That’s the fact:
Once a deposit is made at the bank, itâ€™s no longer your property. Itâ€™s the bankâ€™s.
What you own instead is a promise from the bank to repay. Itâ€™s an unsecured liability. Thatâ€™s a very different thing from owning physical cash stuffed under your mattress. Yet, 99.9% of people conflate the two.
Cash deposited into the bank technically makes you a creditor of the bank. Youâ€™re liable to get burned should the bank make a bad bet and get into trouble. The risk is not insignificant. Most banks gamble with their customer deposits on risky investment fads like mortgage-backed securities.
The lie about to whom the deposits belong. It’s an credit and so you never do savings in a banking account you always do investing.
but well I guess who who think they will “shutdown” will be disapoointed. They will raise the limit and may it be a few just a few days in August.
They will swear the wildest oats that “this time everything is different” and they will “save money”. Guess what the charade will go on and in a few months years we’ll be exactly where we are
now. We’ll hear things like “But we do have saved, despite the fact that the expenses stil are higher than before” Their saving will also mean generating more income in one or the other way (just think about taxes).
So the favour they could do is stopping this lies. There is not “real” discussion. There is no “real” will to cut down expenses. Even if there were the ever increasing social transfer payments will just show. “It’s you rmoney we’re burning stupid.
Anyway as American I would really felt attacked on my honor. Do they really believe anyone believes what they say? Does they really know not most of them would despise them if they possibly could. Hundreds of thousands of laws all in the name of justice just can hide the fact that there’s but one thing in common in them. “Stealing freedom” and criminalize the own population. See the Minnessota shutdown, one need a licence so “sell” alcohol and because government does not work they are on their way getting illegal.
Liars, give us a break and do not prevent that you do anything good to use. This favour is not asked too much.