Stan Druckenmiller provides one of the most interesting and informative perspectives on the state of the economy, the @federalreserve entitlements and more. Brilliant. Worth every minute. https://t.co/7JbfmXqA8G
— Bill Ackman (@BillAckman) May 11, 2023
Guess this UK bank thinks it’s customers are complete idiots by taking this OVER THE TOP ridiculous step in placing themselves in an oversight process in regards to documentation of cash “maneuvers” to ostensibly protect their customers from scams. Looks to us the scam IS THE BANK as we have always believed in caveat emptor (LET THE BUYER BEWARE) which is on the customer, NOT THE BANK as liability falls on the person in any given transactional situation, NOT the institution.Looks to us one of 2 things. First, an excuse to limit cash withdrawals by fear of heightened level of scrutiny and Two unrestricted increased surveillance of customer’s financial profile which, other than primary activity of deposits and withdrawals, in NONE OF THEIR BUSINESS.Always seems the Commonwealth countries in concert with the Bank of England are first to make these banking plays. Think Canada with the Freedom Convoy confiscation of assets last year.
https://www.msn.com/en-us/money/news/major-bank-demands-customers-prove-withdrawals-are-valid-warns-cash-can-be-refused-...