Entry Submitted by Judge Dale at 11:58 EDT on April 28, 2017
Dear Richard [OWK] and all others
by: Judge Dale
The fear that people have about Bank NDA's is very real in that the NDA is a contract between a depositor and the bank, which carries severe penalties if violated. The bank writes the NDA contract and so naturally the NDA is written in their best interest and NOT the depositors.
NOTE: [The only legal obligation that a bank has toward a depositor is as the custodian of money].
If a depositor signs an NDA contract with the bank, you are now in business with that bank and they are NO LONGER legally obligated as a custodian. Banks generally want an NDA on huge depositors because the best thing banks do is STEAL and the NDA provides them with the opportunity to do so!
[e.g.] Look at how many time the Elders have attempted to kick start the RV only to discover some Bankers attempted to steal the assets!
NDA's are NOT about concealing an interest rate. That is a PREVARICATION used to conceal the real reason behind the NDA contract. Bank offers of interest bearing accounts; free bank services; discounts on travel and tickets is an enticement to endorse an NDA contract and now because of the NDA the bank gets to use/risk your money in special midnight trades. If the bank is lucky they make allot of money and you get a little back in monthly interest payments however if they make a bad investment and lose apart of your assets, nothing can be done to them because that is the risk of doing business and being in business with a bank via the NDA contract.
I will give you one other scenario:
[e.g.] One month your interest payment is late and so you complain to the bank. They give you the big run around, which only aggravates you even more to the point that you decide to speak to a lawyer! As soon as that lawyer telephones or writes your bank you have violated the NDA contract because you told someone about the NDA contract you made with the bank and you now forfeit all of your assets in that bank with NO RECOVERY possible in a court of law!
I love you Richard for all of your wisdom and assistance but please stop treating NDA's as though they are nothing special because that just is NOT the case!