| Getbig Bodybuilding Boards > Gym/Stores/Industry Business Board |
| Bank of America customers have no access to their money this weekend |
| (1/1) |
| 24KT:
Hope you BofA customers are enjoying your impromptu Bank Holiday this weekend. Who knows? If this all goes over well with hardly any incident, we may see even more vigorous capital controls implemented, ...and sooner than you think. Enjoy your cash while you can, ...just not this weekend. ;D |
| 24KT:
UP UNTIL THE LATE 1960s, IT WAS CONSIDERED PRUDENT FOR EVERYONE TO HAVE SOME SAVINGS. BY FORGOING CONSUMPTION, SAVINGS GAVE THE ABILITY TO CONSUME MORE AT A LATER DATE THROUGH THE ACCUMULATION OF INTEREST INCOME. This result is similar to what one hopes to achieve with an investment, but savings and investments should not be confused. A person uses money to make an investment, whereas saving is the process of accumulating money itself. Thus, you put your money at risk when making an investment, which hopefully will become a wealth-creating asset. In contrast, savings are meant to be riskless. In the past, savings would typically be accumulated in a disciplined way on a regular monthly basis. An individual would take a savings book along with some cash directly to the bank, which would record the deposit. Alternatively, the bank acting under standing instructions would transfer a previously specified amount of cash from a customer’s current account to his/her savings account. Beginning in the 1970s, countries around the world led by the United States began pursuing monetary policies that no longer encouraged savings. The relatively sound money that had previously prevailed, when it was said that the “dollar was as good as gold”, gave way to deplorable policy that ushered in decades of money debasement. Currency as a consequence has lost purchasing power over time, and the interest that banks pay on savings accounts has not sufficiently compensated the saver. In other words, even though the nominal value of a savings account rose from the interest income being earned, the overall purchasing power of the money being saved was losing value. |
| tonymctones:
hmmm nothing on the interweb about not being able to access your money at BofA...color me shocked that the racists snake oil peddling retard lied.... |
| TheGrinch:
went to my BofA local Atm and took out money no problem.. wtf are you talking about?... link? ??? ??? |
| Grape Ape:
--- Quote from: tonymctones on September 14, 2014, 06:57:40 PM ---hmmm nothing on the interweb about not being able to access your money at BofA...color me shocked that the racists snake oil peddling retard lied.... --- End quote --- Who uses cash anyway? |
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