true story. around two years ago i tried closing down a savings account w Citizens Bank that had a non-trivial amount of money in it. when i called to do so, they asked me why, and i said it was because i wasn’t earning market interest on the account. they essentially told me ‘that is not a valid reason’ and i could try again tomorrow. so i did. i made up another reason. voila, they ‘allowed’ me to close my account. if your money is someone else’s liability, it isn’t your money. your money in a bank isn’t yours. it’s an unsecured loan to a bank that can decide when you take out that money, in what increments, and on what terms. that is not how money works. it is the product of a fractional reserve banking system that has the global economy on a perpetual knifes edge. opt out.
