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> NO, its not my money. Its the banks money. It’s not even the bank’s money but the bank’s debt to you. When you give a bank money you are accepting an IOU wit
by nyokodo 4y ago
> NO, its not my money. Its the banks money.
It’s not even the bank’s money but the bank’s debt to you. When you give a bank money you are accepting an IOU with pages of conditions because they lend out most of it and do not keep enough money to pay everyone back. Banks don’t want withdrawals because that limits their ability to lend and make profits off the interest etc plus capital control laws are common to prevent bank runs etc, so they erect barriers to withdrawal and can prevent it entirely. When you’re prevented from withdrawing your money that is a sign the loan you gave the bank went bad.