Topic: My bank account's got robbed by European Commission. Over 700k is lost. - page 4. (Read 408499 times)

It is incredible how many posts on this forum are related to stolen Btc accounts or stolen assets. Being honest is very difficult these days. It is easier to do something evil rather than work hard as it was done in the past

I'm talking about a simple regulation, that I'm sure most people who just need a bank account would agree with : a bank should have full reserves. No right to invest, lend, or anything like that with customers money unless these customers specifically agree to it (and get a share of the profits, of course).

When you need a mortgage or loan, you would go to another type of bank that would do just that, in which people would invest their money knowingly.

First mistake, its not your money.    All our national currencies are central banking operated.

Wow that is crazy....I don't think I would ever keep more than 100k in a bank at a time.

I'm talking about a simple regulation, that I'm sure most people who just need a bank account would agree with : a bank should have full reserves. No right to invest, lend, or anything like that with customers money unless these customers specifically agree to it (and get a share of the profits, of course).

... if you really think more regulations are the answer you haven't been paying attention. The banks write their own regulations. Monopoly money comes about because of ... well, monopolies.

.... and if you want fiat in digital form, which is most convenient, then you must have it in a bank or other third party. Bitcoin is the first digital money form you can possess and control (own) for yourself, i.e. without a third party.

Nobody took the money. It simply disappeared in failed investments. You can blame the bank but banks operate in a regulatory environment, the regulators failed to address the problem in time.

Many on here, especially US citizens, want less regulation, well, there are consequences.

The US didn't manage to really regulate its financial institutions after the last crisis, Trump is unraveling the few regulations there are, so another crisis is now on the horizon.

First mistake, its not your money.    All our national currencies are central banking operated.    So the capital value is decided by a central point, top down system.    If they want to make your money worth zero they can do it, 'For the greater good'  


Actual capitalism, that ancient mystical fabled system of worth is not what we have exactly.   It'd be nice to hear this opinion sometime but nobody on tv or newspaper will ever say it, capital distributed by the people and with the people is what capitalism actually is.

Central banking has a relation to communism, if you look up the origins of the USSR it can found there as a system that favours that 'greater good' idea where they can just overnight change your paper to favour a bank.   That can happen now, the reason it does not is because it'd upset the perception of value.  Disorderly markets is a fear of the FED but also it might bring on reforms that threaten the FED itself, clearly the FED is a failure with 2008 likely to repeat it does not dispel failed market systems it can cause them.
   So the shift of value from people to a central point of control is down gradually, Cyprus is a more obvious failure by central banking but its a general policy to do similar gradually.  QE favours the central banks, inflation and the gov bond system is the justification for all these measures.  Government will take care of the people but it must take money in order to do so.

This guy losing his 700k was an involuntary donation to the state.   In some ones mind out there it is justified.  Lets hope they used his money wisely but we know government loses money constantly.  Inefficient in everything it does, sometimes corrupt sometimes incompetent.   He got poor value for his citizenship sadly