Recent Comments

The banks restrict bonuses to once every couple of years, ergo the need to rotate from bank to bank.
If they get 10,000 new accounts opened and 50 are closed in a few months, they have probably
created over 100 million in new money from nothing (loans) charging 15% to 35% interest.
It's effectively a cash cow that cost them next to nothing.
BTW, credit card companies are doing it, too, to get new accounts.
The banks report the bonus on a 1099-int so the IRS is able to get its pound of fiat.
Do a web search for bank bonuses and you'll see dozens of sites listing the latest offers.

Wow, nicely written article, FFA. Thanks. The first point that came to mind with me is where were these urinalists when Rahm Emanuel declared himself Obama's wing man? They always seem to forget that little tidbit of left wing history.

"I chase returns and bonuses..." Interesting. Not to sound ignorant, but how does that work? Do the banks wise up and shut you out eventually? Does the IRS chase you around as it seems to get a $900 "bonus" you would be moving large funds. Curious of the mechanism of the plan not your personal numbers.

Agreed, northerner777, as the bulk of my bank savings is in a local credit union as well. However, I needed a large bank that had branches in many cities to which I travel and occasionally need funds. I use cash often rather than plastic so having a branch to get cash is nice to have.

This kind of nonsense has been around for a while. It has not happened to me but I got a shock when Britain's Nigel Farage got de-banked, not from financial risk, nor security concern, just a board member thought he was not the kind of person we want as a customer!

What is needed is some kind of common carrier legislation on banks whereby the bank cannot refuse basic services. (To any legal resident). It would work even if voluntary, but compulsory for government provided services.

.. and.. right in the middle of the article is the Table showing actual effectiveness of debanking .. 0.001%.

My wonderful Friday just got even better. Thanks, ouc, still laughing at that bunch of very true points made even sharper by their humor!

Two hilarious schooling references in this excellent batch (the useless "Gender Studies degree," and the pompous "Woke Studies Ph. D."), and two spot-on education references (the father-son and mother-son conversations).

Way to go, as always, OUC.

Thanks for the article. Yes, much of the algos are automated and individuals can be put on various Lists without a human decision. I expect that he might have also been put on a No Fly List. One of the takeaways -- make sure that you have some legal council on retainer, or at least their business card with an option to make that call, if it should become necessary.

I have two bank (credit union) accounts along with safes and sundry cash piles. I also travel with a bit of extra cash... lesson from last summer when I was on a long road trip and my only credit card was compromised, so I had to put a freeze on the card.

I expect that this sort of thing will occur with greater frequency, longer delays to get a resolution and fewer opportunities for remedial actions. It's as if we are all being corralled onto the digital rails of programmable currencies.

Sad tale of institutional banking. WTF has happened to US? My late wife and I haven't used "banks" for many years. We've belonged to our local credit union that recently merged with another credit union. We've never had any security issues with them and love being part of a credit union. The time's our VISA card was compromised they quickly froze it, denied the charges and quickly issued us new cards. We and now I still only have one VISA card and a debit card. I watch my credit union account activity daily and have had no problems and pray I never do. My adult sons have legal access to the account when my "time" on Earth ends thanks to a local credentialed law firm's advise and efforts. I dearly hope DJT is able to "reset" our nation's financial universe to our national relief and benefit.

During the late Nineties, I ditched using banks (and had put up with more than one) before I joined "a Credit Union that had been in (my) community for a good while."
I've been much happier and have felt more secure ever since. Instead of absolute perfection, there's been a couple of glitches during that just over a quarter of a century of service but that credit union has been over the top helpful for promptly smoothing things out.

Me dino found it quite curious if not fascinating that Jackass Partiers will happily go goose-stepping behind a Commie with a Nazi tattoo only up until no woman but a lib woman cries rape against such a hateful scumbag.

Sometimes me the dino just makes it a point to make a point hither and thither.

Affirmative.

Smart. I got some of those when I moved, it was perfect timing. The only thing that "sucked" was that I had BIG wire transfer payments coming through and it was a hassle to contact the payers and ask them to wire to the new account (especially with all of the scams)...

But I keep a lower profile now. UNFORTUNATELY. As I plan for retirement, I will lose the secondary bank account "direct deposit" that saves me fees. Hopefully I can have them waived with a balance minimum... (And bank fees SHOULD BE 100% tax deductible. They sure tax you on the INT income!)

It wasn't my experience, t-t, but I found the article
interesting and enlightening.
I agree that it's no accident that these things happen.

I chase returns and bonuses, so some of my accounts turn
over regularly while the 'local' small bank accounts stay.
This year it's a JPMC $900 bonus for opening checking and
savings and keeping them open for about 4 months.
That's much better than the best 'high interest' savings rate at present.
I have no loyalty to any bank.
(Hopefully they won't bail-in my account in the next few months.)
They steal from all of us and I try to get a little back when possible.
(I also agree that a "cash" reserve is a good idea for emergency
or when a deal for immediate cash appears.)

I truly feel sorry for you in what you are going through, but you may want to consider the possibility this is no "accident".

You (as I have) been vocal on this forum.
Consider the possibility you got too close and hit a nerve.

When you get your finances back under control, and you still need financial services, find a Credit Union that has been in your community for a good while.
I only use a C.U.

That said, You might want to read Dr. John Colman's "The Committee Of 300" (now in it's forth ed.)
I cannot promise you that You'll feel any better, in fact, you may be even more disparaged once you truly grasp what is really going on.

Every cycle of boom/bust, inflation/deflation, war/peace, easy credit/no credit is carefully orchestrated to benefit an extraordinarily small group of well-connected families.

Whether the masses starve or prosper, live in peace or die in war, matters not-at-all to these Satan Worshipping bassturds.

Everyone on this forum owes it to themselves to educate themselves basic mechanisms of financial and societal control a very small group of families have exerted on the world over the last 300-400 years.

The DSA is telling you to your face, they intend dragging the Republic through the gates of hell if ever allowed to weld the powers of government.
We would be foolhardy not to take then at their word.

Mr. Peabody to Sherman:
"Set the Way Back Machine to 1971"
Find a book called "None Dare Call It Conspiracy"
Turn to Chapter 11, page 33.
You'll find that people understood, a half decade ago, that the
"Extreme Left" (Socialism/Communism/Marxism) or the
"Extreme Right"(Fascism/Pharaohism/Caesarism)
are opposite sides of the same Total Government coin.

They are both forms of Dictatorship or Total Government (i.e. The New World Order/One World order. et. el.)

The illusion that there is some middle ground (i.e. Fabian Democracy) is just, that an illusion, based on a lie, fed to the brainwashed masses through a well-honed, controlled propaganda media.

The true battle ground is one side of Total Government: Communism/Facism/Socialism.

The other side is Anarchy: And 9/10ths of the way to Anarchy, lies Constitutional Republic Limited Government.
The Government our Founding Fathers chose out of thousands of failed social experiments tried over millennia.

Don't be fooled into choosing between two forms of prison.

Our Country was formed on the concept of Limited Government, not Total Government.

The Federal Government's power are enumerated in the Constitution.

Any power not specifically enumerated in the Constitution, is solely the purview of the States.

This nation has strayed so far off the path, for so long (1873), We The People will be hard-pressed to ever reclaim our Republic as our own.

Been there. As a matter of record, I always maintain at least 2 unique banks. This happened 2yrs ago (or so) to me. And I immediately moved my accounts (to my then second bank). And I went down the street and opened my "new 2nd" bank account. Putting in it some direct deposit (for freeness), and then adding enough cash to deal with a 3-4 month asset freeze.

It's the cost of doing business. Also, in FL we keep 2-3 months of CASH on hand we call "Hurricane Funds". because we've lived through those times when CC's are not working.

Everyone should do this.
And keep your cash separated. Never all in one place.

Like thanks.

Thank you, OUC! 👍

Nice, but they left out the gulags for the dissidents and unemployed (who are now employed in the gulag).

Now, is that woke 2 or woke 11, LOL? Another great start to my day, OUC! All are amusing and thoughtful. I like the wisdom being passed on to Rusty and the translation lesson in #3. Thank you, OUC!

Yes, Starbucks, too.

Nicely done, Suzanne43. LOL