Federal Regulation D, Or Why The Fed & Central Banking Are Doomed

in #bitcoin7 years ago

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Federal Regulation D limits the amount of transfers allowed from a SAVINGS account over a period of time. If that limit is exceeded the account will be forcibly converted to a more expensive CHECKING account. I opened the cheapest account at my bank to use with Coinbase, now I'm in danger of violating Federal Regulation D :

Fed Reg D.jpg

Absurd restrictions on how I CHOOSE TO USE MY OWN MONEY are exactly why the FED and Central Banking are doomed. I may be on the fringe right now, but once crypto-currencies achieve wider adoption then nobody will bother with the banks anymore. I've begun the process of moving my money out of that flawed and broken system, I invite you to do the same.

R.I.P. Federal Reserve & Central Banking.

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