Bitcoin
$11,888.89 0.87%
BTC · 11w

Your Money Isn’t Yours. Reclaim It.

Photo by Etienne Martin on Unsplash

When I was a baby, my grandparents invested in a College Fund for me. I gave college the old college try. I was excited about Eco 101 but in my first lesson I discovered that the economics professor, a former dean at Harvard, did not have the faintest clue who Hayek was. That was not for me, so I left. I thought I might invest some of the money into companies I believed in. I called up the savings institution. This was the conversation:

“Hello. Can I withdraw my money, please?”

“Sure. The bank account we have connected to this account, is under the name K Haines. Is that you?”

“No, that’s my uncle.”

“Well, we can’t send it there because he isn’t the account owner.”

“Can you send it to my bank account?”

“Sure! Fill out this form. We can do it together right now, and you can mail it to us.”

“OK, great.”

“Before you mail it, you are going to need a Medallion Guarantee. Its easy to get, just go to any bank.”

“I’m overseas. They don’t have a Medallion Guarantee here.”

“Really? Are you sure? I’m surprised because they have it most financial institutions.”

“Yes, I’m sure. What else can we do? Can you mail me a check?”

“Sure! We can mail you a check. Let’s see, your address is listed in Israel, correct? We can mail it to you there but we can’t guarantee when it will get there.”

“It does not make sense to mail a check around the world with no guarantee if/when it will arrive. I also have to been in the USA to deposit it. Can we change the mailing address to my uncle’s house?”

“Sure, but if you want to make a withdrawal in the next 30 days you are going to need a Medallion Signature.”

“What do you suggest I do?”

“I’m sorry, we don’t have a lot of leeway.”

“Let me call you back later.”

*Click*

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