Topic: You should never trust banks - page 32. (Read 60784 times)

in my area although banks have the traditional way to use. as to visit a band use Check for depositing and withdrawal of your money, but most of the banks are trusted and the reason is that banks are under the control of government, even the private banks work under government influence  and therefore we can do trust on our banks without any doubt, i think all the banks are also insured therefore no chance to lose your money.

Simply there needs are much in most of the time. We can say banks are providing worse service, but the same is not happening with the every banks. Also people could have never grown to this extent in financial aspect if banks were not available. So in my view that play a big role in growth.

On the one hand, they are needed, but you can do without them

Cyprus haircut is just the most recent example of a government outright stealing the money (wealth) of their citizens that received wide publicity. But this is obviously not the only case of such and similar things. For example, in 1991 Russian (then Soviet Union) government conducted a confiscatory monetary reform actually liquidating the population savings overnight (though this is not related to banks as such but still). In other words, if things go massively awry, you shouldn't cherish a lot of hope that your government is going to defend you and your money, and still more so if you are a "legal citizen"

Most likely, you will be the first to get milked


Go away, clown

We have hundreds of countries and we can only point to one situation that happened in Cyprus, i am not too sure what really happened nor do i bother to google it,but most of the developed countries does have a rule and regulation that protects its customers and no government could snatch your wealth if you are a legal citizen.

And here comes the bullshit sig poster deisik.
Just had you unignored for one moment and you're full of lies disinformation and after all the nonsense you're posting you're going to run to mommy to cry why are your post getting deleted.

I've already had it with your constant 5 liners and you're habit of NOT using multiqoute just to increase your post count.
I wonder if you really bothered to read the thread.


Secondary.
You know shit about the bank haircut in Cyprus.
No deposit below 100 000 euros was touched and also no insured deposit.

So do me and all the forum a favor.
Do not ever quote my posts again while spreading lies.

I think these banks are just taking our money so they can control the country, we all know that the money is important to our countries, if they can control our money,  they can control our country even the governments.

I dont think that what you are telling is true, If you properly user banking system then they are very helpful , their may be some problem with your activities in the bank account that is why you are getting problem. I am using bank for more then 25 yrs and till now i did not had any problem with them. When ever i had some problem i could go directly to my bank branch and they resolve it.

While I'm not one to go fully trusting on banks as I know that all they seem to care for (like any other business) is the profit margin that they're trying to get at the end of the day, so they're not going to be very keen on helping people in the least. Though, I'd say if you complain enough to them, the BBA, some federal agencies that deal with bank complaints, and so on and so forth. They'll in the end respond due to fear of some sort of fine being bestowed upon them by the bank hating people- which there are so many of these days.

I totally understand you my friend.My familly has lost 2.000 euro due to "tax expenses".Also bank has kept a smaller amount of money due to capital controlos.People tend to think that banks are our friends or even fool and we can borrow money eternally.However seems to happen the opposite.Banks has huge profits.

Maybe they have some bad experience or issues in the banks that is why they don't wanna trust it anymore. Banks has one of the trusted services in the world, it is their job, to be trusted so their costumers will be able to continue patronizing their services. Having a glitch or problem is one of their challenges and they will make their customers really upset if they didn't fix it fast. You don't need to trust banks, but I don't see any reason to distrust one.

I also believe in banks. They provide us with the opportunity to manage the centralized currency that we receive for work in the office. We still can not completely abandon the dollars and use exclusively bitcoin

This works until it doesn't

You should never forget about the Cyprus haircut of 2013 when depositors in the Cyprus banks had been stripped off of their deposits despite any deposit insurance, which you refer to in your post. So no such insurance can secure you from the lawlessness and severe abuse of power from the government itself. Aside from that, your money on the deposit in a bank is in no way insured from the currency devaluation if the government chooses to go that way (as many governments, especially in developing countries do). In this manner, just holding your wealth as money is a risky business itself

Even we have our own btc wallets that act as our own managed bank we still need banks to cash it out in case we need money since btc were not much implemented in our countries plus there's no enough facilities that it can offer like BTC atm machine like , we still need to have banks ,there might be some issues in banks yet they can still perform well and still can be trusted just ask them there might be a reason why it happens.

I think it's a stupid thing to tell someone not to trust the bank. While they provide many facilities and provide assurance and responsibility that our money will be safe and the bank is also protected by the government. I myself believe in the bank

Agreed, banks give the complete security for our investment as well all our holdings due to the backing by the government. Even if a banks goes in loss the government repays the users. This is what the banking system, also it's the financial system to support growth in a country. I too believe there is no specific reason to oppose banks, the big mistake they do often is charging without any reason.

In my country there isn't risk to put money in a bank until certain point... There are guarantees that you won't lose your money up to $200.000 of our currency. If you put more than that, the amount that exceeds $200.000 is under risk, if something goes wrong you lose money. The good point is that if you stay on the limit you are safe, doesn't matter what happens with the bank.

That is the only reason why I would use a bank, the guarantees, because I know they don't share decent profit with users, it's much more profitable to use an online independent currency like Bitcoin, but less safe.

I studied them on our economics class and recently realized that they are.

Exactly.


It's only good to trust them when it comes to storing our fiat. But literally when it comes to trust, there's a lot of service that you can trust them and it's up to you on how you will try and experience it.

I am opposing to the statement of the subject.

First of all, there are different kinds of banks. There are rural bans, commercial banks, retail banks etc. People tend to say that you should never trust banks because of the risk. However, if you know how to address and manage the risk you will realize banks are not really a threat to your money.

One basic financial tip I can share is by diversifying your savings in 2 or more banks. As the saying goes, "Do not put your eggs in one basket", you should consider on putting your money to different banks thus minimizing the risk in case of bankruptcy. Speaking of bankruptcy (to banks), it may still sound scary but this happens only to the small banks like rural banks in the provinces. Which is why if you are depositing a big sum of money, the only choice you have are the known, established and leading banks in your country. Because these big banks will not go down easily even if a world financial crisis happens.

The point is, yes there are risks on putting your money in banks, but still they are still worth to trust. All you need is basic financial knowledge on managing your fund and minimizing risks. The choice of your banks to  consider is very important. Remember to choose those who already have a reputable names and has been established for a long time already.

yes that is right most of the banks are under government control they have strong check over them and therefore i think bank are more secure but the profit that we can get from investing in bitcoin cannot expect from anywhere else, because bitcoin give us a very good profit in a very short time that banks cannot give us.