My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. My bank just stated that "Pursuant to the CMA Disclosure and Agreement, 'THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties'. Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate". No single word explaing the termination was given to me. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you are helping the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!
why do not I have to trust the bank? I currently save money in the bank but there is a risk also if at any time the bank was stolen or disappeared, so my confidence in the bank is only 75%There are many stories that are having the same problem, when the things are getting rough on banks and they cant resolve the issue, you will say goodbye to your money. My mother and father is saving their money from the banks but Im saving mine at my secret chamber. Of course they have advantages I just get the feeling that they can take all my money in an instant.
The disadvantages of saving at home is sometimes they are thinking that youre a drug dealer and youre doing something illegal. Lifestyle check at its finest.
No freedom at all
