Tannhauser
angry insecure male
- Local time
- Today 10:59 PM
- Joined
- Jul 18, 2015
- Messages
- 1,462
This other day I tried to open a bank account in Sweden. It didn't happen – they started interrogating me about all kinds of details, including which firm I worked for and where it was located. I said "fuck off" and left. I've heard many such stories lately. One of my parents tried to withdraw cash from their bank account, and got questions from the bank about what the purpose of the withdrawal was. A friend of mine is getting calls from his bank about the origin of the money in his account (about $1500).
Now, how the fuck do commercial banks allow themselves to do all this shit? I know what some of you will say: these are countermeasures against money laundering and organized crime. Now, here is a question: how many money launderers are opening up accounts in commercial banks and wiring money back and forth? Apparently, it is very hard to use any one of the millions of alternative options out there, including Paypal, Neteller, Bitcoin and so on.
Quite recently, the largest bank in Norway, DNB, demanded the banning of physical cash (source). Again, with the reason that it will counteract crime. It is funny that this happens at a time when it has probably never been easier to move money electronically oustide the banks' systems. Somehow, they never thought of this genius idea before although we have been using debit cards for many, many years.
An excellent article was written on the war on cash here, and why it happens at this point in time. The gist of it is that central banks hate physical cash because this money is protected from negative interest rates. They don't want people to save money, they want every dupe out there to take on debt and spend it like an idiot on any shit he/she can get a hold of. "It's good for growth". Of course, commercial banks love it too, because if all money goes electronically through them, they can charge fees on every single transaction that takes place on earth.
It seems to me that we are moving into strange territory where commercial banks are allowed to infringe overtly on people's privacy and freedom, and most people seem to accept it. As long as the banks can provide people with stupid "apps" and other idiotic gimmicks, the people are content.
As for me, I put down some personal rules:
- Never open an account at a bank which support the banning of physical cash.
- Perform almost all transactions with physical cash
- If I am to save money, I say "fuck you" to any bank out there and invest in physical things
- Never buy stock in a commercial bank which support the banning of physical cash
Now, how the fuck do commercial banks allow themselves to do all this shit? I know what some of you will say: these are countermeasures against money laundering and organized crime. Now, here is a question: how many money launderers are opening up accounts in commercial banks and wiring money back and forth? Apparently, it is very hard to use any one of the millions of alternative options out there, including Paypal, Neteller, Bitcoin and so on.
Quite recently, the largest bank in Norway, DNB, demanded the banning of physical cash (source). Again, with the reason that it will counteract crime. It is funny that this happens at a time when it has probably never been easier to move money electronically oustide the banks' systems. Somehow, they never thought of this genius idea before although we have been using debit cards for many, many years.
An excellent article was written on the war on cash here, and why it happens at this point in time. The gist of it is that central banks hate physical cash because this money is protected from negative interest rates. They don't want people to save money, they want every dupe out there to take on debt and spend it like an idiot on any shit he/she can get a hold of. "It's good for growth". Of course, commercial banks love it too, because if all money goes electronically through them, they can charge fees on every single transaction that takes place on earth.
It seems to me that we are moving into strange territory where commercial banks are allowed to infringe overtly on people's privacy and freedom, and most people seem to accept it. As long as the banks can provide people with stupid "apps" and other idiotic gimmicks, the people are content.
As for me, I put down some personal rules:
- Never open an account at a bank which support the banning of physical cash.
- Perform almost all transactions with physical cash
- If I am to save money, I say "fuck you" to any bank out there and invest in physical things
- Never buy stock in a commercial bank which support the banning of physical cash