Money in the Mattress

Matthew 25:18 – “The one who received one talent went off, dug a hole in the ground, and hid his master’s money.”

Why would someone put their money in the ground? Because the banks can’t be trusted? Because they have no confidence in themselves? Because they were lazy? So many reasons here. But protecting the money seemed more important to this servant than risking it by trading it.

In thinking about hiding money, whether it’s in the mattress or buried in the ground, I am reminded of the recession Bush’s policies brought to the US. Banks were bailed out, taxpayers were left holding the bill. I am reminded that there are people who can’t afford to use a bank because of the monthly fees. Monthly fees, exorbitant late fees, and other policies make it untenable for some poor people to have a bank account. Other reasons include hiding from creditors or having a previous criminal record. If a person has no access to a bank account, to cash a check they have to go to a check-cashing place, a check exchange.

Check exchanges charge exorbitant amounts of money for cashing checks. They are the sisters of the payday loan houses, who charge exorbitant interest for payday loans. Usury. In such a situation hiding one’s money in the backyard makes sense. No one can take it from you through the policy violence of usury and late fees.

Of course, they didn’t have checks in Jesus’ day and coins were real silver or gold. Burying them, keeping them secret, would keep them safe. Those of us with enough money to qualify for free checking put our cash in banks and credit unions to keep them safe. The US government insures our deposits to a certain amount. It’s harder to steal. It makes it easier for the banks to steal, though. Perhaps our one-talent servant has had experience with this?

And that reminds me of the myths about poor people, especially poor people of color. Slavery came before racism. Racism was the justification for slavery. In the same way, the myth that Black people were lazy, incompetent, and criminal was extended to justify treating free poor people worse than White rich people. There is no basis for either myth: Black people are not lazy, incompetent, or criminal as a group any more than white people are lazy, incompetent, or criminal as a group. Poor people are not terrible at finances as a group. Most poor people I have know could get more out of a nickel than any rich person. They were forced to learn from this skill. Poor people are not lazy or criminal as a group. These myths are used to justify fear of competition and fear of a changing worldview.

Those fears and beliefs in these myths are stunting our economy. We give bankers carte blanche to do whatever they want. Due to Donald’s relaxation of regulations designed to rein banks in, our economy is behaving the same way it did in 2008. The only reason we’re afloat is the feds are working very hard to avoid the crash. I no longer deal with banks when I can avoid it. Credit unions, as far as I know, are barred from participating in these shenanigans. At any rate, credit unions benefit local communities rather than a group of CEOs somewhere else in the country. Putting money into our communities strengthens them. That alone is a good reason to use them over a big bank. The banks have shown they cannot be trusted to act in a responsible manner. 

In this economy, if I were poor, I’d consider hiding money in the backyard too. It’s safe there. 

B