Contrary to Twitter banking is regulated and governed by actual laws. It’s a completely different beast. Go ahead and google who the owner of the money in your account is and how that is regulated.
Not defending the Musk here, but literally it’s not your money anymore as soon as you put it in a bank account.
The money you put in your account belongs to the bank, and the account functions as an I.O.U… A very privileged one compared to other debts, and in most cases redeemable without notice, but you’re in fact just another creditor.
You got downvoted to hell, but you’re absolutely right. The fact that FDIC exists should be evidence enough to anyone with a functional brain that depositors in a bank are creditors and do not retain ownership of their literal deposit.
Why would the bank give you your money, its their business and you gave it to them.
Contrary to Twitter banking is regulated and governed by actual laws. It’s a completely different beast. Go ahead and google who the owner of the money in your account is and how that is regulated.
Its literally regulated as well, a account in general cant just be taken…
You might have dropped this (◠‿・)—“,”
Not defending the Musk here, but literally it’s not your money anymore as soon as you put it in a bank account.
The money you put in your account belongs to the bank, and the account functions as an I.O.U… A very privileged one compared to other debts, and in most cases redeemable without notice, but you’re in fact just another creditor.
That’s not how banks work.
Former banker here. You’re just fucking wrong about that. You’ve said zero true things.
If by “money” you mean the physical dollar bills you put in the ATM, then yes.
You got downvoted to hell, but you’re absolutely right. The fact that FDIC exists should be evidence enough to anyone with a functional brain that depositors in a bank are creditors and do not retain ownership of their literal deposit.
That absolutely not how shit works.