Have you ever considered how in love with banks Americans are? What is one of the first things we instruct young adults to do? That is advice is usually open an account with a bank.
There is an interesting article on Time.com about people who do not have bank accounts.
My wife and I have a savings account, and that is about it. We do not have any credit cards, nor do we have a checking account?
Why don’t we have those items? Because we are not in love with debt or the banks.
Think about “why” we have checking accounts. So the banks can screw us on overdraft fees? So we have to keep our check book balanced? So someone can steal the routing number and drain the account? So the government can seize the money from the account?
While my ex-wife and I were going through a divorce, the Texas dumbass attorney general messed up on their paper work. Because of their screw up it looked like I owed several thousand dollars in back child support. With no due process, no court order, no court hearing, no nothing but a letter, my employer was ordered to hold more money out of my paycheck.
The Texas dumbass attorney generals office could have easily cleaned out my bank account, if I would have had one that is. Where would that have left me? With several overdraft fees, an empty bank account, and bills that needed to be paid. All because of some dumbass’s screw up.
I faxed over a copy of the current court orders, and my child support payments were returned to normal. What happened to the extra money that was taken from my paycheck? The people at the dumbass Texas attorney generals office refused to refund any of the money. So that money was gone, never to be seen again. What about my bills? Too bad for me.
Why do some people not have bank accounts, to protect their money from the government.
Keep in mind a bank will have to follow any court order signed by a judge. If the government walks into a bank with an order saying to seize your account, all of your money is frozen.
How would you pay your bills when the government has your money frozen, or takes money from your account?
Need a loan? Go to a bank.
Instead of going to a bank for a loan, why not just save the money and buy the item interest free?
Need a way to pay bills, get a checking account.
Don’t feel like carrying cash, get a credit card.
It seems as if American society is obsessed with banks and obtaining lines of credit.
Why are we as a people so obsessed with financial institutions and credit?