Holes in our laws: What is Legal and what is Illegal?
I will show here a case where legislators (consciously or subconsciously we leave it out of consideration) allow the banks to carry out their activities with the money of their customers, without any awareness of them so far.
Has one of you ever thought, why in today’s Internet-age money transactions (referrals) lasting several days? Just recently, I think last year (2016) the implementation deadlines re-regulated. Earlier, also in the Internet-age, the money was several days on the way and it was officially allowed. This topic attracted me already in the year 2007/2008, so I asked in my bank via E-Mail and in response I got a PDF document with the terms and conditions with the generous deadlines, which had not been changed for 50 years.
Many older people still know how they deposited their wages to the bank and if they have transfer it to another account it lasted several days, but this was explainable in those days. The real money also had to be moved partly. But this has certainly not been the case since the 1960s due to the arrival of the computer in the internal banking business. Even the normal people nowadays usually trade with virtual money, unless one does not pay with one’s debit card in shops.
If you carefully analyze your account movements, you will find that the money is immediately decimated by the amount from the account. In the recipient’s account, the money is usually credited on the next day within the same country.
What happens to the virtual money in the not more longer localizable period? This money is neither by the transmitter nor by the receiver.
Who has access to this money at this time? What can he or she (or the artificial intelligence, if it’s automated) do with our money? The answer to this should be answered by everyone.
Where is virtual money mainly traded? Stock market? Can the virtual money be used only for fractional seconds or even shorter? Apropos stock market, the money here has not just two digits after the comma. The normal people know three digits after the comma only from the gas stations – where the prices e.g. for diesel is 1,099 € per liter and are also so calculated. We then only pay the total amount which is rounded to double-digit after the comma.
Not only the technical (IT)-systems are perforated like the Swiss cheese, every system in the world looks like it.
One of the most profitable deals ever is, if one lets the money work and not the people 😉.