Bank’s failure

[Fortify]

Today we have witnessed how easy is for the banks to freeze all assets that people rely on. The economy across the globe will change, trading will be much more difficult given the current situation. Over the last few years a lot of people have been affected by disrupting events and virus outbreak being unable to work and earn to support their families. It comes to the point where trusting the banks will no longer apply. Even there is war or not, the population still needs to work, travel and move money where needed. Other people have to travel from one country to another and if credit/debit cards are suspended, there will be no trade. The problem occurred in 2008 is just around the corner waiting to burst again but this time is different. We have to look at alternative ways to produce and distribute energy.

You say all of this as if it is a negative thing, but the backlash that has been imposed against Putin was way beyond what he could ever have imagined and in part that was helped by the centralized nature of the banking system. It is only through Russia being part of these far spanning global networks that it has been possible to cause vast economic damage to Russia for their totally unjust invasion and attempt to crush a democratic people who were successful in ridding themselves of a puppet regime. Unfortunately that means many Russian people will have to suffer in the process, but maybe it will spur them to overthrow the tyrant they have for a leader.

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[Marvelman]

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You say all of this as if it is a negative thing, but the backlash that has been imposed against Putin was way beyond what he could ever have imagined and in part that was helped by the centralized nature of the banking system. It is only through Russia being part of these far spanning global networks that it has been possible to cause vast economic damage to Russia for their totally unjust invasion and attempt to crush a democratic people who were successful in ridding themselves of a puppet regime. Unfortunately that means many Russian people will have to suffer in the process, but maybe it will spur them to overthrow the tyrant they have for a leader.

It is always a sad and disgusting thing when you see people being manipulated by a master manipulator. Unfortunately the Russia lies will continue until the sun goes nova. The truth will be out soon though and it will be the people of Russia itself who will have to deal with the devastation that was done to their country in one of the greatest violations of international law since the Second World War. Only time will tell if this was the act of a criminal gang or the act of a losing and discredited government.

[fullhdpixel]

But investment wise, I am still seeing it very annoying to see people having their fiat in bank for over many years without touching it and the banks encouraging people to invest in fiat with annual profit return which is actually not a profit but a loss as the fiat depreciates over time.

So it is really useless for minimum wager like us to save our money on the bank. Good think I have withdrawn all my assets 4 years ago and decided to invest it on others like land, crypto, and started a small business two years ago. Even though I worked my ass hard day by day, my savings isn't getting me anywhere and as inflations hops in it's buying power becomes weak. Unless we have millions that would rake profits from annual interest on our money, but the thing is we commoners don't have that and it sucks.

I won’t be relying on Fiat and banks because as time goes on there will be inflation and things will start getting costly. Fiat keeps losing its buying power over the years and those who used Fiat as savings are the ones that are losing. It is very important that we learn to start investing our money in different assets such as bitcoin and lands.

I have also invested my money in lands because lands are one thing that never lose their value and every year they keep on increasing. The amount that you paid to buy a land in the last 10 years is not what you are going to be paying for that same land this year. If you check you will see that the value of lands keep on increasing. and bitcoin is another asset that has also been worth investing for years now.

[add1ct3dd]

I don’t think that banks would just freeze anyone’s account for no reason. Before banks can take such an action there must have been something that have led to it happening. I have seen so many occasions where the banks has taken such actions and freeze people’s account and it wasn't just for no reason, a situation must have occurred before it happened.

Until now there are still so many people who are relying on banks and using it as a means for them to make transactions. Not everyone is really into making use of cryptocurrency despite how good cryptocurrency is proven to be. It might be a case of not having pure understanding of how it works.

[iv4n]

Today we have witnessed how easy is for the banks to freeze all assets that people rely on.

This has happened before, people didn't care much that Venezuela couldn't get their gold out of England! Truckers in Canada felt it on their skin like it is when banks merge with the government! And now we have a much more complicated situation at the global level where banks, again with the government, decide who can and who cannot use their services! In my opinion, the situation is clear, no one is safe, the rules are on the side of the stronger and sometimes it seems that those rules are not fair at all!

The economy across the globe will change, trading will be much more difficult given the current situation. Over the last few years a lot of people have been affected by disrupting events and virus outbreak being unable to work and earn to support their families. It comes to the point where trusting the banks will no longer apply. Even there is war or not, the population still needs to work, travel and move money where needed. Other people have to travel from one country to another and if credit/debit cards are suspended, there will be no trade. The problem occurred in 2008 is just around the corner waiting to burst again but this time is different. We have to look at alternative ways to produce and distribute energy.

The current conflict seems bigger every week and it will definitely change the global economy! I have been saying for years that at some point people will have to choose changes and that changes must be towards crypto! This will only be achieved when people decide to use crypto much more, thus expressing support for a better tomorrow! Banks are simply doing what they have been doing for centuries, and it is already clear to everyone that they are serving the people in power and the rich ones, who are imposing their control by controlling the flow of money and getting richer along the way! It is a rigged system in favor of the minority, unlike the crypt which has the potential to be fairer and in favor of the majority! It's how I see things!

[lixer]

I don’t think that banks would just freeze anyone’s account for no reason. Before banks can take such an action there must have been something that have led to it happening. I have seen so many occasions where the banks has taken such actions and freeze people’s account and it wasn't just for no reason, a situation must have occurred before it happened.

Until now there are still so many people who are relying on banks and using it as a means for them to make transactions. Not everyone is really into making use of cryptocurrency despite how good cryptocurrency is proven to be. It might be a case of not having pure understanding of how it works.

Like when a bank user is guilty for doing criminal acts or frauds, his bank account will then get frozen. That was acceptable but what about during the war between Ukraine and Russia, I heard that bank accounts of Russians were freeze too? Is that acceptable?

Maybe, if your against the Russia because they started the war but for some I think it isn't because bank users didn't commit anything that is illegal but it was their president (Putin) that started the war without their consent. If they can be able to use banks, I am pretty sure that they can also understand how crypto works. It's only just a matter of learning it. For now, they won't consider this but time will come they will.

[ChiBitCTy]

Today we have witnessed how easy is for the banks to freeze all assets that people rely on. The economy across the globe will change, trading will be much more difficult given the current situation. Over the last few years a lot of people have been affected by disrupting events and virus outbreak being unable to work and earn to support their families. It comes to the point where trusting the banks will no longer apply. Even there is war or not, the population still needs to work, travel and move money where needed. Other people have to travel from one country to another and if credit/debit cards are suspended, there will be no trade. The problem occurred in 2008 is just around the corner waiting to burst again but this time is different. We have to look at alternative ways to produce and distribute energy.

To say that we are heading towards another 2008 might be a bit much. I think if we were heading down that path then we likely already would have during the pandemic. I’m certainly not saying things aren’t ugly and we don’t have a hard time ahead of us, because we do. I think people overall still trust banks and it’s going to take time for that to turn around. Hopefully this was a big wake up call for people !

[freedomgo]

The banking system is run by the government, every country has its own central banks that regulate the banks both public and private. So any decision is made by the government and in case of sanctions or whatsoever, we have to deal with it.

It's nice to have our money in crypto, but we also cannot deny that crypto does not provide security of our money, therefore, we just have to ensure that we have different options in case things like this would happen so we can still access our funds.

having a bank account and crypto-assets being kept separately is the best decision for me.

[sana54210]

I won’t be relying on Fiat and banks because as time goes on there will be inflation and things will start getting costly. Fiat keeps losing its buying power over the years and those who used Fiat as savings are the ones that are losing. It is very important that we learn to start investing our money in different assets such as bitcoin and lands.

I have also invested my money in lands because lands are one thing that never lose their value and every year they keep on increasing. The amount that you paid to buy a land in the last 10 years is not what you are going to be paying for that same land this year. If you check you will see that the value of lands keep on increasing. and bitcoin is another asset that has also been worth investing for years now.

Tell me about it. My nation has such a horrible inflation is that I am spending nearly 3x to 4x more prices compared to just a year or two ago. This is of course horrible for anyone who lives in my nation, but at the end of the day I am making my money in dollars, and earn dollars and that is good enough for me.

There is no situation that changed my life style, in fact I may have got a bit better to be fair since inflation was high, but the value of dollars increased even more so I am doing fine. However at the same time we are talking about my whole nation being in brink of bankruptcy and that is a sad thing of course.

[stepwilli]

I don’t think that banks would just freeze anyone’s account for no reason. Before banks can take such an action there must have been something that have led to it happening. I have seen so many occasions where the banks has taken such actions and freeze people’s account and it wasn't just for no reason, a situation must have occurred before it happened.

Until now there are still so many people who are relying on banks and using it as a means for them to make transactions. Not everyone is really into making use of cryptocurrency despite how good cryptocurrency is proven to be. It might be a case of not having pure understanding of how it works.

Like when a bank user is guilty for doing criminal acts or frauds, his bank account will then get frozen. That was acceptable but what about during the war between Ukraine and Russia, I heard that bank accounts of Russians were freeze too? Is that acceptable?

Maybe, if your against the Russia because they started the war but for some I think it isn't because bank users didn't commit anything that is illegal but it was their president (Putin) that started the war without their consent. If they can be able to use banks, I am pretty sure that they can also understand how crypto works. It's only just a matter of learning it. For now, they won't consider this but time will come they will.

Depends on the person you are freezing the assets. If you are doing this to Russian oligarchs who helped and fed Putin and made him this strong, either willingly and lovingly, or because they had to, doesn't matter and that allowed them to get richer, then freezing their assets makes sense. I mean these are the guys who paid Putin, get him rich and powerful, and in return used the resources to extract and sell to the world.

The problem is that, if they do this to regular citizens, people who do not have too much money, not oligarchs, and not even support Putin? Then it becomes a bit of a problem and I believe that we should not be really supporting that part of it.

[wxa7115]

I don’t think that banks would just freeze anyone’s account for no reason. Before banks can take such an action there must have been something that have led to it happening. I have seen so many occasions where the banks has taken such actions and freeze people’s account and it wasn't just for no reason, a situation must have occurred before it happened.

Until now there are still so many people who are relying on banks and using it as a means for them to make transactions. Not everyone is really into making use of cryptocurrency despite how good cryptocurrency is proven to be. It might be a case of not having pure understanding of how it works.

Banks can and will freeze your accounts for no reason at all, they have done it in the past and they will do so in the future, back when the Great Depression was still ongoing the US president ordered a bank holiday that if I remember correctly lasted for a week, and during that time no one could get their money out of the banks.

Now you may think this happened a long time ago but all governments have emergency powers like that and they can exercise them if they want, and if the economic crisis in which we are in goes out of control I expect something similar to happen again.