I don't know how many countries are actually planning to implement it, but unfortunately my country was seriously debating over this matter and it was known as FRDI bill. But after receiving huge backlash from all parts of the society, they had dropped it!
But when the entire economy is linked with debt, what better we can expect for us? Bitcoin is indeed a relief and blessing for the commoners.
I have recently read an article which concerns me big time. Even it is not related to the thread, but it's a must read for people with debt on their shoulders.
https://www.theatlantic.com/ideas/archive/2019/08/millennials-are-screwed-recession/596728/Well, when a first world giant like the USA agree to stupid legislation like this, the world will follow. Most of these Banks have a global footprint, so it will be applied in the other countries where they have branches.
Digging a little bit deeper, I see that they only applied this to people with more than $100 000 in their accounts, so they are targeting the wealthy people first. Once that is tapped out, they will surely move to smaller deposits.
What world do we live in, when your money are not safe in a Bank anymore.
Actually, this has been going for a bit more than a century, ever since the bankers managed to legalize the ponzi scheme known as fractional reserve banking or
the reason they pay you interest...
What you brought is simply salt to the wound. ponzi on a ponzi.
If you want to break with this debt is growth mentality, read the Austrian economists:
https://mises.org/There it is explained clearly by many authors how a deflationary economy works, such an economy is not debt based but savings based, true savings that is, not thin air money that doesn't exist anywhere like today banks do. And one of the things they explain is how full reserve banks work. People in these economies tend to save, because of deflation. Either on their own (such as your cold wallet) or by using a full reserve bank (such as an online wallet).
If the world did what bitcoiners do the 3rd of Jan, the world economy would collapse. The banks assume everyone won't ever attempt to withdraw their funds
at the same time. If this happened, their legalized century old scheme would collapse.
The bank of Amsterdam famously worked with full reserve for nearly two centuries. Of course this moves less money and makes less profit than the cheater schemers of today. A mere two centuries ago, what modern banks do today, was punished with the death penalty.
But history of banking is something seldom people learn about, and some idiots just keep repeating the tired old deep and convoluted reptilian world conspiracies when the simple truth is right in front of their noses. Its not a family or a religious group, its a system: the fractional reserve system.
They want people to be in debt. They NEED the people to be in debt, so that it leverages more the fact that most of the money doesn't exist (isn't backed) anywhere. And this is a true, known fact. But people don't learn that in school when talking about banks.
Modern banks DO NOT KEEP YOUR MONEY, at least not all of it, but only a small fraction, often under 10%, and only because some pesky law they manage to flex little by little over the years, so you end with things like what you brought.
If there is anything bankers fear, is not bitcoin or deflation (tho those are key activators), but people getting rid of debt and withdrawing their money. Do you have fiat in a bank? What if you changed it all or almost all of it to bitcoin and instead kept that in a cold wallet? Most banks would disappear. And don't be mistaken, this process has already started, but it can occur slowly or suddenly, depending in how long it takes for people to learn the truth.
Banks do have a chance to shrink amicably if people don't all withdraw at once, but they would also see their profit shrink. In fact the world has too many banks, and many would start closing, which is perfectly fine and normal. The only banks humanity need, are those that operate under full reserve, where people have to pay the bank to keep their money safe (not the other way around) unless the client willingly wants to lend his/her money to the bank, and then, and only then, the bank would pay interest but the money must NOT BE AVAILABLE until that lending ends. Transparency.
