This is one of those things that is really hard to wrap your head around.

BANKS
ARE
EVIL

In our defense, we didn't know. And we were told a bunch of stories that are patently wrong. Well, they are not wrong if we are dealing with individuals sharing a solid money system. But we don't have that. In fact, it is the opposite to that in many different ways and levels.

Banks are there to lend money.

This statement seems true, almost true, but it is not.

Let us say you want to buy a car, but do not have the money. So you go to the bank and get a loan.

Here is what actually happens

1. The seller gives the car to the bank. (yes, this is correct, and yes, this is the first step)
2. The bank does some balance sheet magic. (now that the bank has a car, they can lend a car's worth of money. Money was created out of thin air. Actually, the money was stolen from everyone around the bank. Everyone in the area, with a dollar in the pocket had a penny stolen. Everyone now has 99¢. And then the bank lends out this money)
3. The bank gets a promissory note from the buyer. (So, this guy agreed to pay us $X a month. This note, worth what is being repaid on the car, has just appeared in the bank's hands. And is usually sold very quickly so the bank can get the cash now.)
4. The bank then gives the seller the agreed upon amount for the car.

No, really, this is what happens and in the order it happens.

If we slowed this down, and did each of these things in step, no one would do business with a bank. The fraud would be just too blatant. But, it is done, mostly at the same time. All the loan docs get signed, seemingly simultaneously.

• The bank never had money to lend.
• The bank gets paid twice.
• The buyer and the seller are none the wiser.
• Society didn't notice the missing pennies.

You are always wrong, The bank is always right

It is just accepted that the bank (or corporation) is correct.
Because people make errors. They forget to send in a payment, all the time, it is the individuals fault. The account holder has to be fined.
And when it is the bank's error, then it is "human error", "a mistake", "something that just has to be worked out"

Even when the bank is blatantly wrong.
Even when the bank did it on purpose, was found to be doing fraud, and fined. The customer is still the one that makes errors and must have fees deducted from their account.

It is completely unfair.

But, it gets worse.
 

That is NOT YOUR money in the bank

Not only are you the one that is always wrong, the banks are under no obligation to give you your money back. (it is not your money, you GAVE it to them. Its in the contact.)

The bank may decide, at their discretion whether to give you your money back.
Further, they have a big long list of reasons they can give for closing / freezing your account. Some of them get law enforcement involved.

The govern-cement can have the bank disclose your transactions and freeze / lock your account any time they ask. And, under the law, the bank is not allowed to tell you. (or tell you why in case of your account being frozen)

And now, when your bank fails, they will take your money first. Bail-ins are the law of the land.
The technical terms are, you are creditor of the bank, and you are the last one in line to get paid. You will get stock in the bank that is equal to the amount of money you had in the bank. (probably useless/worthless stock)

FDIC doesn't have enough money to pay for any one large bank failure.
 

You are better off playing with your money in a known rigged casino.

You are playing a game against a group that has the home team advantage, and the field is sloped towards the opposition goal. The banks know what they are doing with money and contracts. The people still think that they are actually loaning money. You do not have a legal leg to stand on. The judges work for the banks. (no, really. Look at all the terminology that matches. The B.A.R. - is located in the City of London, a bankster owned mini-nation inside the UK)

The banks are not fair.
The laws are not fair.
The knowing are taking advantage of the unknowing.

The banks are evil. (by design)

All images in this post are my own original creations.