Legally he can't do anything about it. It is a private company so it deceits with who do do business with. The money in the pocked is only allowed to be used it still belongs to the issuer. The Bank can take all the money in the account.
With Cash in the hand the bank cant do anything about where it is spend. With digital payment it's easy.
Cash only is not a solution for him as the cash days are numbered.
Peer to Peer Bitcoin here we go
The same faith awaits a lot of political (and others) exposed persons.
And remember to be at the right time, at the right side of the wall. The modern wall is digital.
Topic: It has started (Read 100 times)
Am I the only one who feels it is strange or weird that there is no bank in such developed country which is held by the government?
It does not need to be a big one or something, here in my country we have a bank which is a public one, so owned by the government and in theory that means these kind of situations cannot happen...
Besides that, this is a good example on why cash and crypto is necessary, in my opinion. Censorship can be dangerous.
It does not need to be a big one or something, here in my country we have a bank which is a public one, so owned by the government and in theory that means these kind of situations cannot happen...
Besides that, this is a good example on why cash and crypto is necessary, in my opinion. Censorship can be dangerous.
In the US, foundational documents like the Constitution and the Bill of Rights don't allow the government to be like a bank. But these same documents allow government to contract with just about anybody.
So, to get around the good banking laws set up in the foundational documents, the US has contracted with the private Federal Reserve Bank to make and handle its paper money for them.
Totally against certain aspects of the spirit of the foundational documents, but completely according to other aspects of the spirit of the documents.
British politician, broadcaster and political analyst Nigel Farage is unbanked. He wont be the last person Banks refuse to serve. They can do it because they are a private company and the money belongs to them, only allowing people to use it. With cash in the pocked there is not much they can do, with the digital variant its easy to restrict what beer anyone can buy. How will he pay tax now?
https://youtu.be/EVBFMp4JW-s
https://youtu.be/EVBFMp4JW-s
The information is not correct. Apparently one bank decided to close his business account not his personal account.
The reason why this bank and perhaps other have decided not to have trades with Mr. Farrage is likely to be the guy not willing or not being able to justify something such as sources of income, clients, origin of funds... On this, he is not being treated differently, he is just in the same process as many people who are denied an account and oftentimes not told about the reason.
My guess? Money from Russia.
Am I the only one who feels it is strange or weird that there is no bank in such developed country which is held by the government?
It does not need to be a big one or something, here in my country we have a bank which is a public one, so owned by the government and in theory that means these kind of situations cannot happen...
Besides that, this is a good example on why cash and crypto is necessary, in my opinion. Censorship can be dangerous.
It does not need to be a big one or something, here in my country we have a bank which is a public one, so owned by the government and in theory that means these kind of situations cannot happen...
Besides that, this is a good example on why cash and crypto is necessary, in my opinion. Censorship can be dangerous.
Way past time for the people to develop a free cryptocurrency that cannot be stopped by government, and one that can be used for everyday money transactions among themselves.
Farage: my bank accounts closed with 'no explanation'
https://archive.fo/YQgaN
But it appears the reality isn't so rosy for the former Ukip leader. Farage has taken to Twitter today to claim that 'the establishment are trying to force me out of the UK by closing my bank accounts.' In a lengthy six-minute statement, he says that current bank account is being closed, despite no reason being given. He has since tried to open a new account at seven rival financial institutions but to no avail:
"
I have been with the same banking group since 1980. I've had my personal accounts with them since that date, and my business accounts right through the 1990s want to work in the City of London. In recent years too I'm with one of the subsidiaries of this big banking group, one with a very prestigious name, but I won't name them just yet. I got a phone call a couple of months ago, to say 'we are closing your accounts', I asked why [but] no reason was given. I was told a letter would come, which would explain everything. The letter came through and simply said, we are closing your accounts, we want to finish it all by a date, which is around about now. I didn't quite know what to make of it. I complained. I emailed the chairman, a lackey phoned me to say that it was a commercial decision, which I have to say, I don't believe for a single moment. So I thought, well, there we are, I'll have to go and find a different bank. I've been to six, no seven banks actually. Ask them all, could I have a personal and a business account? And the answer has been no.
The Brexiteer is yet to name the financial institution which has closed his existing account. However in 2019, the Times reported that Farage banked with Coutts, which has served the Queen and every member of the royal family since George IV.
Mr S wonders if some of the more outlandish claims about Farage's finances are to blame for his current predicament. One example is offered by Sir Chris Bryant, that purveyor of moral plaudits. He is still to apologise or retract his demonstrably false allegation that Farage has received £548,573 from Russian state-funded media. Luckily for Sir Chris, he made that claim on the floor of the House of Commons and therefore is immune for prosecution.
...
Farage: my bank accounts closed with 'no explanation'
https://archive.fo/YQgaN
But it appears the reality isn't so rosy for the former Ukip leader. Farage has taken to Twitter today to claim that 'the establishment are trying to force me out of the UK by closing my bank accounts.' In a lengthy six-minute statement, he says that current bank account is being closed, despite no reason being given. He has since tried to open a new account at seven rival financial institutions but to no avail:
"
I have been with the same banking group since 1980. I've had my personal accounts with them since that date, and my business accounts right through the 1990s want to work in the City of London. In recent years too I'm with one of the subsidiaries of this big banking group, one with a very prestigious name, but I won't name them just yet. I got a phone call a couple of months ago, to say 'we are closing your accounts', I asked why [but] no reason was given. I was told a letter would come, which would explain everything. The letter came through and simply said, we are closing your accounts, we want to finish it all by a date, which is around about now. I didn't quite know what to make of it. I complained. I emailed the chairman, a lackey phoned me to say that it was a commercial decision, which I have to say, I don't believe for a single moment. So I thought, well, there we are, I'll have to go and find a different bank. I've been to six, no seven banks actually. Ask them all, could I have a personal and a business account? And the answer has been no.
The Brexiteer is yet to name the financial institution which has closed his existing account. However in 2019, the Times reported that Farage banked with Coutts, which has served the Queen and every member of the royal family since George IV.
Mr S wonders if some of the more outlandish claims about Farage's finances are to blame for his current predicament. One example is offered by Sir Chris Bryant, that purveyor of moral plaudits. He is still to apologise or retract his demonstrably false allegation that Farage has received £548,573 from Russian state-funded media. Luckily for Sir Chris, he made that claim on the floor of the House of Commons and therefore is immune for prosecution.
...
British politician, broadcaster and political analyst Nigel Farage is unbanked. He wont be the last person Banks refuse to serve. They can do it because they are a private company and the money belongs to them, only allowing people to use it. With cash in the pocked there is not much they can do, with the digital variant its easy to restrict what beer anyone can buy. How will he pay tax now?
https://youtu.be/EVBFMp4JW-s
https://youtu.be/EVBFMp4JW-s
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