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The Cash ‘Deposit’ Trap


Most Africans are not aware that a fiat currency (Cash) ‘deposit’ to a commercial bank is in fact an unsecured loan to the commercial bank. To add insult to injury, the commercial bank solely dictates the terms of the loan they are giving rendering them at a great disadvantage as they are not even guaranteed to get their ‘deposit’ back in full. While this is true internationally, the lies by omission by this trusted institutions is deeply disturbing and proof that they only seek profits to the detriment of clients.

Acts, policies, procedures, laws, rules and regulations are manufactured and manipulated by African ‘leaders’ and banking elite to impose their will on ordinary Africans with impunity. Regulators in Africa have been co-opted, acting as puppets of the powers that be through going to any lengths to keep the continents populous in the dark.

Central and commercial banks via the fiat based legacy financial systems in the continent engage in opaque conjecture to appear as God’s gift to Africans as all knowing financial oracles. The fact is they are actively engaged in deceiving Africans to serve the best interests of authoritarian governments, dictators, elites and their white collar boogie self-interests.     

Law enforcement agencies and the judiciary are the power tools African ‘leaders’ and banks utilize to perpetuate servitude under the guise of order. The deposit illusion is the 1st of 9 articles in the “LEGAL THEFT IN AFRICA” series in May 2021 by BitcoinMtaani to debunk the tricks that governments and banks use to enslave Africans.


The Swahili phrase ‘Kubebwa ujinga’ means someone taking you for a fool. This is exactly what commercial banks are doing to Africans with the blessing and knowledge of all financial regulators.

Africans are not stupid. If Nasesia is approached by Wanjiku or Akinyi for a loan, she knows full well she has the power to dictate the terms. The terms Nasesia gives either of them will dictate if they get the loan or not based on if they agree or not respectively. When Nasesia goes to a commercial bank to deposit her hard earned money, she is being responsible as the lies taught to her include but are not limited to: The money she puts into her commercial bank account is a deposit, fiat currency is a good store of value to save her money and she can withdrawal her money in full anytime she deems fit.

In reality, Nasesia’s hard earned 3rd world United States Dollar backed fiat currency ‘deposit’ to her commercial bank account is an unsecured, rigged loan to the bank. It is an unsecured loan because the bank offers her no collateral in return for the money she has loaned them.

The unsecured loan Nasesia gives the bank is rigged for reasons which include: The bank is solely dictating the terms they get the loan from Nasesia at and the bank does not guarantee to fully refund Nasesia any time she wants her money back. They in fact go out of their way to lie to her through suggesting they are the only safe custodians of her money while leaving the devil in the details. The fact that commercial banks, central banks and other regulators collude to keep this information from Nasesia is a travesty of the highest order.

When a bank collapses the hierarchy of distribution of the ones to be paid falls into two tranches which are secured depositors and unsecured depositors. Nasesia falls under the 2nd rank (Unsecured depositors) who will be the second bunch to be compensated by the bank. The first in line under the secured depositors include: The tax man (government), liquidators and secured creditors who have securities with the bank. This is the insanity that these white collar thieves who would not exists without Nasesia’s unsecured loans continue to survive and thrive at her expense. 

Commercial banks will not even engage with Nasesia as an African youth in regards to them offering her an unsecured loan for a business or even a personal matter such as a medical emergency. If she is fortunate enough to be gainfully employed thus have a pay slip or a revenue generating business, she will have to jump through several hoops to get a loan at significantly higher interest rate than the peanuts the bank offers her for her unsecured loan to them.

This is the true definition of ‘Kubebwa ujinga’ by commercial banks, central banks and financial regulators who are constantly bombarding African youth with advertisements on how approachable, honest, transparent and WOKE they are to their plight.

Negative nominal interest rates have not yet hit Africa commercial banks but that will be the wakeup call most Africans need to immediately opt out of the legacy financial system. Any bankers approaching specifically a Kenyan to ask them to pay to store their money in a commercial bank account will swiftly be met with ‘Sipendi ujinga’ which directly translates to ‘I do not like stupidity.’ This is a reality in the west that most people in the continent currently would consider a stupid joke especially in the current horrific economic situation.


African youth and young adults have no business being unsecured creditors to the banking elite thus Bitcoin is the way. As the best store of value ever available to the world, opting out of the 3rd world country fiat based, dollar backed legacy financial system to Bitcoin is the only viable solution.

A decentralized ledger available to anyone in the world to view at any time, guaranteeing privacy to all individuals will replace “fiat funny business” currently stifling all efforts by Africans to make it in life. Like a breath of fresh air, African youth and young adults will introduce themselves to peace of mind when it comes their money as now mathematics and physics will be the custodian of their money not greedy bankers or mediocre leaders.

Every major hurdle facing Africans is a direct result of decades of poor leadership. It is time for all Africans to learn about Bitcoin and choose self-sovereignty thus guarantee their economic prosperity in line with BitcoinMtaani’s vision statement ‘Taking their countries out of their money.’

Most African countries were at the same level or at a certain advantage over the ‘Asian Tigers’ especially due to vast mineral deposits at independence. Those countries for instance Singapore are currently a Sci-fi movie to compared to the level of development and quality of life their citizens have compared to Africans.

Authoritarian regimes, dictators, central banks and commercial banks will not willingly dislodge their knee from Africans neck to let them prosper at the detriment of losing their power. It is up to Africans to take their power back this time not by taking to guerilla warfare but simply by changing their useless 3rd world cash to Bitcoin on their smart phone or computer. This way no ‘authorities’ can ever mess with their money. 

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