Quote:
Originally Posted by EddyTheDog
I have to admit I did see this coming but didn't believe they would do it.
Straight theft out of your account.
Monday is going to be a big day - I really think the banks have fucked up so bad they wont know what hit them  ... |
The government is doing this, not the banks. The government is in such massive debt that they have decided to start this process, which is the next step after currency controls, and is the natural evolution from government spending itself more and more into debt.
Don't be fooled. Banks cannot legally use force to make you do business with them and give them money, only government can do that. Only government can force you to give up your money in order to bail out banks or cover their debts, (which then doesn't allow market risk to naturally force the banks to act responsibly); and only government can print fiat currency to run up huge debts in your name, borrow more against your money and force you to repay it, or tax you with inflation.
If currency was based on actual market valuation, (like a gold based currency), rather then a central banking system with a fiat currency; and if people recognized that government doesn't create wealth, it only reduces it in the process of redistributing it, (and therefore must be strictly limited in it's power), then we wouldn't be headed down this road of inevitable problems....again. (It has happened before in other places).
Like I said, just wait. This is coming soon to a government near you!
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