In the US, there are still some fortresses of privacy. For example, communications between an attorney and a client are still subject to very rigorous protection from disclosure for almost any purpose. The state of California protects these communications better than any other state, and even conflicts with federal law in favor of privacy over disclosure. Doctor-patient relationships, priest-penitent, the marital relationship and a few others continue to be protected. One of the most important things to keep private, however, is not protected, the ability to have financial and bank privacy. The bank-depositor relationship is as important as almost any other protected relationship. Economic control over someone creates the relationship of master and servant. If you are subject to scrutiny for every bank transaction, regardless of suspicion, you are threatened with that economic control and servitude. This is true regardless of whether or not the threat is carried out. Even though your private bank has access to this information, the private bank does not have the power to arrest, prosecute, seize assets, or enforce capital punishment. Forced disclosure of account information puts the information in the hands of those who have that power. If you do not like what one private bank does with your information, you can move to a new private bank. If you are a US citizen, you cannot move your money to a new jurisdiction if you do not like the economic control being used or threatened. Do you love them yet?

Bank Privacy… Not!, 1/24/11

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