Who owns your money? You may think it’s you, but (especially) if you have it on a traditional bank account, it’s not that simple. Those numbers you see on that screen don’t belong to you in the same way you own your bike or your t-shirt.

Otherwise, you would be able to get any amount out or transfer any amount of YOUR money somewhere else. Perhaps to another account of yours. But you need to ask for permission for that. If your money was yours, you would be able to reap the rewards of your investments or exchange your crypto for fiat and put it in your banks without problems.

I understand AML protocols, and they are necessary, but let’s get real. When was the last time criminals used regular banks to move their money or cash out on their crypto? These protocols also don’t justify why you need to ask for permission to send money to your grandma or transfer certain amounts of money between accounts you own. Here, the assumption is that in order to do that, there’s a third party entitled to a piece of the pie, in form of taxes or fees.

The banking system is designed to control how much access you can enjoy over your own money. People who move in the margins that are considered “normal” don’t even notice. Their banks allow them to get some money out for the groceries, pay some things here and there, purchase those tickets, enjoy a beer every now and then.

But don’t be fooled. You can’t simply use it as you please. You need to ask for permission. The money is not truly yours, like your bike or t-shirt. You are just allowed to use it under certain limits… And supervision.

Microblogging pills” is an experiment: short posts containing random thoughts that cross my mind. Without any context or story behind, raw and unedited.

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