Post
Topic
Board Politics & Society
Re: POLL - Since the low of $65 3 months back, overall did you buy or sell?
by
RationalSpeculator
on 20/10/2013, 15:56:06 UTC
Operating money of almost 1 million euro? You needed all that in the account to make payments?

What operational amounts would you expect from business where usual project cost is 100-300K and average salary is 3-4K per worker ?

Ok, in that case you indeed had no other choice than to hold that amount in a bank.

Robbing is taking something under the threat of violence.

They will prevent me, under the threat of violence, from going to my bank and taking back my money. Isn't it obvious?

I don't think so. You cannot take your money back from the bank since it is lost. You going to your bank and taking the same amount of money that you put in, against their will, would be the initiation of violence by you. Them kicking you out with violence would be self defense.


A bank making poor investment decisions and losing the savers money is not a robbery. It's an investment gone soar, and you are responsible for having decided to put your money there.

This is not bank's fault, this is the whole banking system fault. Again, it was not investment account but current business account. I didn't have any interest, instead, I paid monthly account maintenance fee.

Agreed that the banking system in general is not safe. Some banks however take on much more risk than others. If you had done your homework better you could have selected a bank with a much lower risk profile for your business account. And you could also have diversified between several banks on top. Sure more energy, more inconvenience, but lower risk was achievable for you too.  


Eventhough I still think you are using the word robbery incorrectly, I understand your anger towards banks and politicians, and it's justified in my opinion. I think you also made a rational and wise decision to switch to bitcoin. You do inspire me.

(I use this thread because I want more votes)