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anonymous
Q: Why Don't People Trust Banks Here?
I've read a number of stories of people becoming financially ruined after stuffing their mattresses with cash. Why don't they trust banks?
10 years 14 weeks ago in Money & Banking - China
I think, main reason lies in the mattresses, rather than in Chinese Banks.
'One's mattress became much softer, if stuffed with (paper) savings'.
i think the biggest reason isnt the banks itself but china. in the back of their minds most foreigners know that there is a chance of being deported at a moments notice or something like that. frankly, although its never happened as far as i know, i doubt it would surprise anyone if one day china just decided to freeze foreigners assets and kick them all out.
Theres also an irrational fear that the banks and economy will collapse overnight. just because this is china and nothing is surprising.
You sure it was mattresses they stuffed with cash, and not mistresses?
Counter question. Why have people forgotten the world before cars, cell phones and such modern contraptions when they haven't forgotten all the wealthy people having their wealth stolen during the cultural revolution?
I don't trust the banks back home either, nothing new.
In a country where I have heard it said that four out of the top five banks are bankrupt would you trust the banks. If this was back in the west we wouldn't trust them either. Come to think of it a lot of people don't trust banks in the west anyway.
Watching the public debt growing, the way it is managed, and knowing all bank here are gouvernement owned, I got some worries about my savings 
a lot of money is made in china without paying taxes and the government could seize your money anytime they want to set an example and most people know this.
putting the money in the bank shows you earned more than your make, but if your a government official, they dont worry, the common people worry a lot about this.
much harder to take your home than your bank account. so they throw it into ghost cities until they learn how to get it out of the country.
I don't trust banks anywhere. (And funnily enough, my great-grandfather said the same damn thing almost 100 years ago round about the time Wall Street crashed.)
I'd trust a burglar long before I'd trust a bank.
Red_Fox:
Yes, it is. And would you kindly inform your bank manager about my mattress? (Still waiting for that Polaroid snapshot of her in her Taekwondo get-up!) 
icnif77:
Do you know Ban Ki 'on the' Moon? (pron.: 'bank-i
'on d' muun')
