It was only four short years ago when the United States government used taxpayer’s money to pay out $45 million to rescue Bank of America from going out of business. Since that time, the bank has been embroiled in numerous investigations for fraudulent banking practices ranging from foreign-exchange to mortgages and paid millions in litigation. Now, the second-largest bank in this country in terms of assets needs to weasel $4.95 out of people who are barely making it in this economy and desperate to get a checking account. Is this a mere sign of penny-pinching banking practices or a symptom of something bigger going on like a small pimple that turns out to be cancerous. There is something not quite right here.

Bank of America has introduced a checkless checking account for a small, set fee of $4.95. This no-frills account will not allow overdrafts. It’s a modest fee targeted toward low-income customers who just need a basic bank account. In itself, this seems like a small blip on the radar-not enough to alarm anyone, especially customers or lawmakers. Yet, this small change in their banking policy could hide a much more sinister story about the banking industry and the economy itself.

First, of all, here is why it’s definitely very strange:

1. In today’s financial market, no frill accounts are typically complimentary. As a matter of fact, free checking is now the norm.

2. This bank has actually been attempting to reintroduce the idea of a basic banking fee since 2011. The experiment started by asking banking clients in 3 states–namely, Arizona, Georgia, and Massachusetts–for a flat charge varying between $6 to $9 each month for a simple checking account. The suggestion did not work very well and the whole program was a mess. But, then, again in 2012, they tried it once more, and this time around 10 million consumers whined and complained about it.

* There are no waivers. While megabanks do have payable accounts, they likewise have certain conditions to waive the cost– like direct deposits from employers or keeping a certain checking account balance.

Why is a multi-billion dollar bank asking low-end customers for petty cash? Why is it pursuing a policy that that most other banks consider too absurd to consider? Is it out of petty minded thinking, unmitigated greed or desperate necessity? Frankly, our only hope as Americans is to transfer our loyalty from printed paper money back to the only true money, which is God’s Money-Gold and Silver.

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