Is Your Money In The Bank As Safe As Much As You Think?

In this history of human existence, three things have always been their priority; health, relationship and money. For most people, money has a special place in their hearts. Everyone cares about their money regardless of status, gender, age, or anything else. And the reason is simple. It’s their ticket to get material and service-based things they want in life. Money is the means that people relate with each other to get what they want. It means a lot to every individual. It means shelter, food, a car, nice shoes and clothes, communication, travel, and the list goes without an end. With enough money, they can focus and improve other areas of their life. Without it, we’ll only be trapped in the work-and-spend cycle and will hardly find time to live our dreams.

Now we can easily understand why everyone cherishes their hard-earned money and wants to prevent everything that can make them lose it. This is where the bank comes in with many other benefits that they claim to offer; safety is the underlining campaign that sells effectively to the masses. Today, everyone trusts the bank as a safe house for storing, transferring and receiving money. However, recent events prove that the “safety beliefs” associated with banks are a fallacy. This forces us to ask a question that demands an honest answer. Is the bank a safety loop as much as we think? Is your money in the bank free from theft and loss? We like to answer these burning questions as much as possible in this blog. So, pay close attention and watch till the end to find the answer and the right thing to do.

Not long ago, a statement became a trend that stormed the internet. David Morgan said it, and we have it as our opening quote. “At the outbreak of a crisis, banks can seize your money sitting on their shelves.”

The Wrong Belief

When people think of a bank, they see it as a safe place to keep their money. They believe that money in the bank is 100% secured. But, of course, we can’t blame them; that’s what the bank advertised to them in the first place.

But the reverse is the reality. It might be surprising to realise that from a legal view, the funds in any account belonging to the bank, not the account’s owner. At the time of deposit, the money becomes an asset of the depository bank. The depositor is seen under the law to credit the bank based on a contract that they will refund an equal amount or some part of it when demanded.

In other words, when you sign your agreement with the bank, you’re primarily giving them ownership of the money. You’re saying that the money you kept with them is theirs at the moment, and they can only refund you under some conditions. This might not sound scary until we understand that ownership means the bank has complete legal control of the fund, and you – as a depositor – can only get it when all conditions are met.

This is what we saw happen in China. It was reported that in April 2021 The Bank of China froze millions of dollars deposited with them, explaining that the savers needed to upgrade their internal system.

By July, the citizens had to storm the bank, claiming they had not received any communication from the bank since they froze their account back.

The Henan branch of the Bank of China that froze depositors’ accounts declared that people’s savings in their branch are now “investment products” and can’t be withdrawn.

What does that mean? They will handle a paper or mail to them that states that “you – as an unsecured creditor – are now a shareholder that owns part of our bank.” Your money in the bank will now represent a certain number of shares.

A situation like this is quite absurd and funny. A bank is in crisis which implies they’re failing in their performance and they are turning your deposits into shares. It doesn’t make sense because the bank is not performing well, so you wouldn’t want the share in the first place as it gives you no profit. The act of freezing is just a way to hoard your money and make it responsible for the bank’s failure.

Is Your Money In The Bank Safe?

A similar scenario was witnessed in Argentina and Cyprus. In Argentina, the said bank froze accounts and allowed depositors to access only a tiny percentage of their money weekly. This is critical because the bank will say they didn’t steal your money. All they do is reduce your access to it. But here you are, lacking total access to your funds and deprived of the freedom to manage the money you earned with sweat and tears because you saved it with a bank.

This is unbelievable to many as it goes against the cultural thing we all know. But, maybe hard or easy to believe, it’s the inevitable truth.

Banks have been known as the safe spot for people. People have this level of conservativeness when it comes to saving with them. Now that the situation is not as it is thought to be, the fate of the masses is now in a dilemma. This ambushes an endless army of questions that need to be answered.

Another system is what we can see in the Chinese banking system, which uses social credit scores. So, the more you follow some guidelines, the more you will have to access your fund.

But if you don’t do this and think the way they want you to, then you might be restricted on how much you can spend on buying food, lodging, getting an apartment, or other necessities despite having the money.

Here is the bottom line; a decade from now, monetary wealth was freedom. The more flourishing your finances are, the more you can control the way you live your life. You decide where you want to be, how you spend your time, take care of yourself, what you want to eat, and so on.

But now, things have changed extensively. Freedom is no more in your money. Rather, it’s in the political pattern they want you to follow. Your freedom now depends on your credit score and not your money.

The freedom problem was also seen in Canada, where some protesters got their accounts frozen. This is the way the government chose to deal with them. This is so jaw-dropping to be seen in America (where everyone believed it to be a free state – the land of the brave).

Many don’t see this coming since most people are trained to worship authority. But the dark side is when someone is controlling your property. It makes no sense to have them anymore.

So, with the look of things, are situations like this probable to be seen in America? It might be quite difficult to answer that question straightforwardly. Nevertheless, it’s clear that the chance of its occurrence is far beyond average. Only it might not be as we have predicted. It can be simpler or even worse. Here is how it can happen.

The FDIC insures bank accounts at a standard amount of 250,000 dollars. This means that 250,000 or less in your account will be protected from any unexpected effect of bank failure. If your account is insured, the bank can leave 250,000 dollars and take anything on top of that. This is not even guaranteed as it’s not written anywhere. But it’s close to a possibility. If not, then people might lose as much as the bank wishes them to lose.

A bank might decide to have a break and freeze your money for three days or do something more severe. No one knows. Then they can give you three weeks of access to a portion of your deposits and start giving a series of obligations you need to do, such as reconfirming your ID, filling a new agreement form, upgrading your status, and other sorts of excuses that will help them track you and your transaction to ensure you keep to the rules and prevent fraudulent activities.

During those periods, the first quote from Morgan, “At the outbreak of a crisis, banks can seize your money sitting on their shelves”, still remains the bitter truth.

Now that this is the case, we need to ask a very imperative question, “How can we stay safe from this kind of situation”,

The capital control of your money is through the currency system that the bank and authority digitally manage and control. So, it’s essential that we find reasonable ways to escape that system-based trap.

You can take out your money and register it into precious stones. Precious stones have been recognized worldwide as a slightly stable currency and finance and have stood the test of time over centuries, if not millennia.

Therefore, it is a reasonable way to get yourself out of the system and gain full control over your life and your money. This leads us to the next question: where to buy, how to buy, and how to store the gold. It’s very necessary because it’s what determines whether the bank owns your monetary property or you do. Everyone is seeing what’s coming and working on ways to avoid the catastrophe.

Gold can be owned both in physical and digital forms. The one to buy depends on individual preference. But we’ll suggest owning physical gold first, and then when you have enough, you can buy and use financial derivatives of the stones. The reason is that you will have to find ways to store physical stones and protect them, which might be difficult when there are too many of them.

The tipping point or lateral break is that point where everyone will be clear on the truth about this matter. We think that the moment people will wake up to this fact is when we see the scene in China repeat itself in the United States. At that time, everyone will understand and be fully aware of this condition.

It’s better to correct the situation now that the chance is still glaring. You can keep anything less than 250,000 dollars in the bank as you’ve got a little hope of safety. And anything above that should be moved into precious metals and other more secure means that won’t deny you control of your money.

If you love this blog, please give it a thumbs up and share it to save others from losing their money out of thin air. It would be great if you signup to our newsletter for more updates. Before we bid farewell in today’s blog, let’s have a quiz. Do you believe in banks for safety? When will reality show up to everyone, and what other means do you save your money from loss? We’ll love to know your answer in the comment section.

Thank you all for being with us today, and until next time!

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