If the gov can put money in your account what is stopping them from taking it out?

[charlie hotel lima]

The banks will do anything the Govt. wants them to do. Cell phones and electronic banking puts everyone at the mercy of any agency that is looking at you. Except emails, they seem to vanish pretty good.

 

[fastfish66]

Wow! Why?

I owed them $75.00 for two months,had just called and told them I would send the payment the first of the month and they couldn't wait I guess.

 

[hseII]

I keep reading about how the stimulus checks will be deposited directly into your bank account without you having to do anything because they already have everyone's account number. What is stopping them from taking money back out without you doing anything? If things get really bad and we enter another depression the cries for wealth redistribution will be deafening. What is to stop them from seizing all private savings accounts above a certain amount and redistributing it because it's an "emergency"?

They Do & they have.

Try “owing” back taxes- they got theirs.


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[joel2000]

They can't steal what's not there...

My mattress sure is lumpy.

You only keep enough in the bank to cover what checks or Debit card use... the rest, well like @Hayata said

 

[olerambler]

The Money presses never stop printing Fiat currency these days

 

[Stampede]

If they have permission from you, to deposit then they can take funds out. If there was an error they can take back the funds and then deposit the correct amount.

 

[GFB]

If the government starts sharing our savings for us there will definitely be a war

Nope. They just need time and analysis to figure out where the safe cutoff is. If they said now anyone with more than $50 million would be taxed 10% of total wealth to pay for x, y, and z, there would be herds of people cheering. Keep adjusting the net assets down until you meet resistance. I'm not saying that's going to happen but it doesn't seem impossible.

 

[olerambler]

The big question what they going do when US dollar becomes worthless like back after ww1 when German money was worthless used it start fires in heaters& toilet paper