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3 Feb, 4 tweets, 2 min read
Traditional banking services are on DEATH ROW! Friday morning (1-29-21) I made a mobile deposit of a check from ME to ME out of my Schwab account for deposit into my NFCU account. The money was removed from Schwab on Monday (2-1-21). The $ however, is not in my NFCU account.
NFCU informed me that the $ was rejected for security purposes and returned. NFCU could not tell me where the money was because it wasn’t in either account. After two hours on the phone, Schwab informed me that if NFCU didn’t have the money, it must be with an intermediary
clearing house (although who that intermediary is was unknown to the Schwab rep). I was told it TAKES 3-4 BUSINESS DAYS to get my $ credited back into my Schwab account. Of course, the Digital Asset that I was going to purchase with that money is only up 15% today. #DEFI #DEFI
CORRECTION: that Digital Asset is now up 37% today. Smfh I’m officially SHORT THE BANKS and LONG DEFI

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More from @JohnEDeaton1

John E Deaton Profile picture
6 Feb
RIPPLE’S DUE PROCESS CLAIM:
In @Ripple’s Answer it asserted a defense that the SEC should be barred from claiming #XRP is a security today because it violates Due Process and principles of Fair Notice. Previously, I discussed a similar concept called the doctrine of equitable
estoppel. I explained the law protects a party from being harmed by another party's voluntary conduct. That conduct may be ACTIONS, INACTION, SILENCE, or ACQUIESCENCE. Although the SEC never declared XRP a non-security, for EIGHT YEARS it openly traded in unison with #ETH and
#BTC. During this time, some from the SEC, including Clayton, commented that #BTC and/or #ETH were not securities. For 8 years the SEC’s actions, inaction, silence and acquiescence implied that XRP was also NOT a security. Let’s review a few of the SEC’s actions, inaction,
Read 25 tweets
John E Deaton Profile picture
4 Feb
Yesterday I tweeted this debacle with NFCU and Schwab. Before I knew that NFCU was tying up my money, I had written a second check from my Schwab
Account to my NFCU. I told Schwab to stop payment on the second check. NFCU yesterday finally credited my account with the money
from the first check. I woke up this morning and the money was gone. I called NFCU and they informed me that because I stopped payment on the second check they froze my money from the first check. When I asked why they informed me that it was due to suspicious activity. These are
checks form me to me and I’m the only owner of both accounts. I asked where was the money and I was told it’s confidential and the information can’t be released to protect the consumer. I said “I’m the f’g consumer and you won’t release confidential information about me to me
Read 4 tweets
John E Deaton Profile picture
4 Feb
Let me also share my other experience with traditional banking today. I just tried to link my TD bank account to my @UpholdInc account. Then I tried to link my @coinbase account. Last year I was able to link my TD checking account to these exchanges. I deleted it and linked a
different account about 6 months ago. This time, however, TD automatically blocked me from linking the account. I called TD Support and explained the situation. The representative BEGAN READING A DISCLAIMER WARNING ABOUT HOW THE BANKS HAVE SHIFTED RECENTLY TO NOT SUPPORT LINKING
ACCOUNTS BECAUSE CRYPTOCURRENCIES ARE USED FOR MONEY LAUNDERING, DRUGS, ILLEGAL GAMBLING AND OTHER ILLICIT ACTIVITIES. I began laughing out loud and asked “are you actually reading a script to me?” He told me that he has been getting this same type of phone call about 12 times a
Read 4 tweets
John E Deaton Profile picture
31 Jan
RIPPLE RESPONDS
I’ve been asked to provide my thoughts on @Ripple’s Answer. I quickly looked over the Answer late last night. It’s 93 pages and I spent less than hour reading it over so please take that into consideration. I plan to review it in much more detail in the coming
days and will likely revisit these initial thoughts. Before I provide any thoughts, I should warn you that if you ask 3 different attorneys to respond, you are likely to get 3 different opinions. Also, I always provide my honest assessment even if it’s not what I know people want
to hear. Personally, I was disappointed in the Answer. My disappointment means nothing and has no impact on the issues. In fact, if this case is going to trial, I would have advised Ripple to Answer the Complaint much like it did. My disappointment isn’t a reflection regarding
Read 20 tweets
John E Deaton Profile picture
29 Jan
WE LIVE IN A CORRUPT FINANCIAL SYSTEM
BACKED BY A COMPLICIT GOVERNMENT

After watching two self righteous billionaire assholes complain about how unfair the #GME short squeeze is, I was reminded of this scene from the Big Short.
As @JoelKatz tweeted,☝️Leon Cooperman was on discussing how, under normal circumstances, the smart money is on the big time short sellers because of how knowledgeable they must be before going short on a company as opposed to us mere individual speculators. Just when I thought
no one could be any more pompous or arrogant, the Chairman of Interactive Brokers, Thomas Peterffy, was interviewed as to why @IBKR cut off individual traders from buying #GME, #AMC and other stocks. This pompous jerk actually said "We froze the ability to buy these stocks for
Read 6 tweets
John E Deaton Profile picture
22 Jan
⚠️ WARNING ⚠️ AND
⛔️ DANGER ⛔️ THREAD
In several previous Threads, I have warned about government overreaching into the Cryptocurrency markets. Have governments around the world ever truly believed that #Bitcoin and Crypto would get to the point that it finds itself today?
I don’t know. I know that these fiat loving government leaders and career bankers feel THREATENED by Crypto. Why did Jamie Dimon call #Bitcoin a fraud? Of course, his Bank JPM started buying it, and now, after buying it at a lower price, are predicting it goes above 150K in 2021.
Watching Dimon’s reaction, regarding #Bitcoin , is one reason that convinced me to become even more interested in the Crypto space. You can literally see the fear in his eyes and face. In fact, he recently commented that the major Banks should be scared “shitless” of FinTech.
Read 25 tweets

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