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RE: An Open Letter to the Community - HF22.5
Because it deprives the actual owners of the funds, to whom they have a fiduciary trust, of their private right of ownership of those funds, which includes the sole and exclusive right to vote with those funds.
No part of their contracted arrangement with exchanges forfeited that lawful right of ownership. The exchanges seized those funds and exercised ownership of them in violation of their fiduciary trust. Hanging's too good for 'em.
Remember your legal theory when you have a daughter in school, under the control of authority figures there.
Surrendering the funds to a second party by depositing them to an exchange deprives the "actual owners of the funds" their right of private ownership of those funds.
Money in the bank isn't your money. It's the bank's money, and a corresponding liability to you.
https://en.wikipedia.org/wiki/Possession_is_nine-tenths_of_the_law
https://sneak.berlin/20191119/your-money-isnt-yours/
Money isn't voting rights, and Steem is. Powering it up does prevent it's use by it's rightful owners, and violates the fiduciary trust these exchanges undertake.
Banks are thieves, which is why I don't use banks.
Possession is nine-tenths of the law
Possession is nine-tenths of the law is an expression meaning that ownership is easier to maintain if one has possession of something, or difficult to enforce if one does not. The expression is also stated as "possession is nine points of the law", which is credited as derived from the Scottish expression "possession is eleven points in the law, and they say there are but twelve."Although the principle is an oversimplification, it can be restated as: "In a property dispute (whether real or personal), in the absence of clear and compelling testimony or documentation to the contrary, the person in actual, custodial possession of the property is presumed to be the rightful owner. The rightful owner shall have their possession returned to them; if taken or used.