Day: October 17, 2022

PayPal, Bail-Ins, & The Necessity For Trustless Money
https://www.zerohedge.com/crypto/paypal-bail-ins-necessity-trustless-money
— via my feedly newsfeed

PayPal, Bail-Ins, & The Necessity For Trustless Money
by Tyler Durden
Wednesday, Oct 12, 2022 – 12:08 PM

*** begin quote ***

Sure enough, the URL to the updated AUP was under the paypalobjects.com domain, which anybody in our business knows is real.

The document appeared to have been a PDF version of the forthcoming new AUP which was due to roll out in early November. It has since been replaced by the blank page however the original is still available via Archive.org

*** and ***

“It’s a bell that can’t be un-rung”.

I’ll tell you a couple other bells that can’t be un-rung:

When the Canadian government unilaterally seized bank accounts of not only the truckers who protested vaccine mandates in Ottawa (most of which are now gone anyway), but also designated the accounts of citizens who legally donated via GoFundMe or GiveSendGo as targets (sourced from a spreadsheet that somebody hacked from a third-party website, btw), that was a bell that can’t be un-rung.

*** and ***

The bells have been ringing for awhile:

In 2013, during the banking crisis in Cyprus, the first “bail-in” was enacted, when depositors’ savings were confiscated from their bank accounts to recapitalize a banking system that had over-leveraged itself through excessive bad debts to zombie companies.

*** and ***

How much of your wealth is reliant on trusting external, opaque systems and complying with their increasingly one-sided, ephemeral and arbitrary policies, expectations or whims?

Versus, how much of your own money do you have outside of the fiat banking, Big Tech operated monetary system?

Because one morning you may wake up to find out that’s all you have left.

*** end quote ***

Certainly seems that one should have some “wealth” outside of the financial / banking system.  That could be “cash”; although inflation makes that an expensive depreciating asset.  Metals that could be used as barter.  And, bitcoin, assuming that you have power and the inet.  Interesting that in Germany, “firewood” is the new gold!  Imagine not having heat or food in a First World country like Germany due to the complete and utter stupidity of their Gooferment.  

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