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Little Big Man
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #10 - Sep 10th, 2019 at 10:48am
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Jeff wrote on Sep 9th, 2019 at 6:37pm:
Suppose you made the error and put your money in the banks account instead of where you intended to put it. Shocked

You think the bank would have been "good people" to spend your money as fast as they could and then say, "tough shit loser"?


To answer that question, you need only answer this question:

Since banks rarely pay anything more than token interest, what id the benefit of having a bank account instead of simply keeping cash in a safe at home?

The answer is because the banks claim they are experts at managing other people's money.  Protection for those kind of mistakes is built into the better bank accounts as the price banks are willing to pay to lend out your money.

Little Big Man wrote yesterday at 6:04pm:
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Take government out of the business of protecting banks from the mistakes they make...


Jeff blurt posted:
Quote:
You talking about the Fed? I'm with you if you are...


The fed, yes, is part of it.

But also the FDIC, which lets banks gamble with OPM and not have to pay when they lose.




  

Snarky no more!
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The Opposition
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #11 - Sep 10th, 2019 at 10:58am
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I slept on this and I'm with Ahhell. The money wasn't theirs. That's technically theft - the best kind of theft.

The government exists for one purpose: Punishing aggression.

Just because we can't expect this particular kind of aggression to be punished consistently isn't a good reason to dismiss it.

In a libertarian society, money will talk even more than it does now, meaning those with grievances can expect better returns on them if they have a lot of money. Those with grievances and no money will just have to take a hike. This is better than what we have today because the NAP will be followed, and if you didn't aggress, hopefully, you can't be punished.

I hope this is the libertarian answer.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
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SkyChief
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #12 - Sep 10th, 2019 at 11:25am
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The Opposition wrote on Sep 10th, 2019 at 10:58am:
I slept on this and I'm with Ahhell. The money wasn't theirs. That's technically theft - the best kind of theft.


Wrong.  The couple did nothing.  they had zero culpability in the bank's accounting snafu.

THEFT (noun)
The action or crime of stealing,  robbery.


When the government sticks a gun to your head and demands that you hand over a third of your earnings each year, THAT'S THEFT.

I'm surprised you are so off-base on this one, Oppo.     We will need to resume your training.
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #13 - Sep 10th, 2019 at 2:47pm
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Little Big Man wrote on Sep 10th, 2019 at 10:48am:
To answer that question, you need only answer this question:

Since banks rarely pay anything more than token interest, what id the benefit of having a bank account instead of simply keeping cash in a safe at home?

The answer is because the banks claim they are experts at managing other people's money.  Protection for those kind of mistakes is built into the better bank accounts as the price banks are willing to pay to lend out your money.
Convenience is why most people use banks, and, if you report money going missing from your account, the bank is obligated to cover your loss, and they will.

The simple answer as to why banks don't pay much, if any, interest on deposits is the Federal Reserve, and yes, FDIC creates problems too. We could say regulation in general...
  

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Jeff
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #14 - Sep 10th, 2019 at 2:51pm
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SkyChief wrote on Sep 10th, 2019 at 11:25am:
Wrong.  The couple did nothing.  they had zero culpability in the bank's accounting snafu.
They behaved immorally.

If the money in question fell out of an old widow's purse, and you saw it fall, and picked it up and spent it, you committed an immoral act in exactly the same way.
  

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SkyChief
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #15 - Sep 10th, 2019 at 4:06pm
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Jeff wrote on Sep 10th, 2019 at 2:51pm:
They behaved immorally.
Irrelevant.

Oppo said it was theft - It was NOT.

The Opposition wrote on Sep 10th, 2019 at 10:58am:
I slept on this and I'm with Ahhell. The money wasn't theirs. That's technically theft. . .


If my neighbor's avocado tree (which sits near the property boundary) drops fruit which lands in my yard, I can gather them up and sell them at the farmer's market.

If my neighbor demands that I pay him the money I got for the avocados that fell in my yard, I will laugh at him.

Hopefully, he will laugh, too.
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #16 - Sep 10th, 2019 at 4:59pm
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SkyChief wrote on Sep 10th, 2019 at 4:06pm:
Irrelevant.

Oppo said it was theft - It was NOT.


It was. They knowingly spent someone else's money. They knew it wasn't their money.

They probably had IQs above 68, so they realized that someone actually owned that money.

If they were brainwashed "progressive" zealots, with IQs of 68, they were probably thinking they were Robin Hoods...

They weren't .

Robin Hood would have given it to the people it was stolen from.
  

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Industry
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #17 - Sep 10th, 2019 at 5:12pm
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The Opposition wrote on Sep 10th, 2019 at 10:58am:
I slept on this and I'm with Ahhell. The money wasn't theirs. That's technically theft - the best kind of theft.

The government exists for one purpose: Punishing aggression.

Just because we can't expect this particular kind of aggression to be punished consistently isn't a good reason to dismiss it.

In a libertarian society, money will talk even more than it does now, meaning those with grievances can expect better returns on them if they have a lot of money. Those with grievances and no money will just have to take a hike. This is better than what we have today because the NAP will be followed, and if you didn't aggress, hopefully, you can't be punished.

I hope this is the libertarian answer.


That's dumb if the bank can take it back cause mistake then the boat store and car sore every place the shopping spree was should take it all back cause mistake and then nobodys in debt.

They want everybody in debt tho. I bet that's why they did it.
  
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Jeff
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #18 - Sep 10th, 2019 at 5:23pm
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Industry wrote on Sep 10th, 2019 at 5:12pm:
That's dumb if the bank can take it back cause mistake...
They spent it all. Don't you understand what actually happened?
  

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Jeff
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Re: Libertarians Awaken To Find An Extra $120k In Their Bank Account
Reply #19 - Sep 10th, 2019 at 5:24pm
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Industry wrote on Sep 10th, 2019 at 5:12pm:
They want everybody in debt tho.
Try hard to resist! (fist)


It's totally up to you. Smiley

Edit: I was looking for a pic of the commie fist, but this was all I could find!

https://www.spreadshirt.com/shop/design/respect+existence+or+expect+resistance+t...

I think censorship is already happening! Shocked Shocked Shocked

  

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