There are US laws and supporting SCOTUS decisions codifying that once you deposit money in the bank it is no longer yours.
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Yes, my understanding is that, to put it simply, you loan your money to the bank, and therefore you have the same right to it back as you have to money you lend to someone. You can't just go to their house and take it if they don't pay. You have to sue them. And in various conditions the government can cancel the loan. With banks this happens when they default, for example.
A lot of people learned this the hard way in the Great Depression when so many banks failed and people lost their life savings. Those people (and their children in many cases) stopped using banks at all for decades afterwards, keeping their money in cash at home. The government has been gradually making this practice illegal for decades by so-called "anti-money laundering" legislation that prohibits people from making large purchases with cash, such as a house or car, or making it very difficult.
I also knew someone who had a small balance on his credit card (a hundred bucks or so) and happened to be at the bank and after transacting his other business he tried to pay his balance off with some cash in his pocket. The bank would not allow him to do so, telling him they will not accept a single penny of cash in payment of any credit card balance. So that's another obstacle to people who want to use cash -- if you want to pay for things in cash, you aren't allowed to use a credit card either.
It is very surprising to me that conservatives seem to be completely unaware of this issue, especially considering the catastrophic effects it can have on personal freedom, such as what happened to John Mercola. You'd think people like DeSantis or Ted Cruz would be calling for "right to use cash" legislation that would prohibit things like this, and prevent companies from going "cashless" and refusing to accept payment in cash, which is becoming more and more prevalent. Actually it is already illegal for anyone to refuse payment in cash, as it says on every dollar bill, "This bill is legal tender for all debts, public and private". This means it can legally be offered to settle any debt. But this is no longer enforced, and basically ignored.
We are going to get to a point some day when you say the wrong thing to someone, or put something on FaceBook that the government doesn't like, and you're going to get "I'm sorry sir, your card is declined" next time you go to the supermarket or gas station. Again, it's bizarre that conservatives are doing nothing to oppose this.
Topic: Chase Bank Shuts Down Mercola Accounts (Read 1214 times)