Do any of you or your loved ones think that the money deposited in the bank is completely safe? The case of the Spaniard Francisco Guerrero, who described “El Pais“, shows something quite different.



Francisco Guerrero who won 6.47 million euros in the Bonoloto, Spain.

The history of Guerrero

Guerrero lives in a small village near Castellon in Valencia, Spain. He is 68 years old and is a bricklayer by profession.

– Back in December 2005, notes the author, after returning home from work, I learned that I was a millionaire – he told the media – At first I thought that the win is in the old Spanish pesetas, because I could not imagine such a sum in euro – he added.

It’s hard to imagine Guerrero’s joy! Then it was worse. The bricklayer deposited all the winnings in one of the banks. He still worked in his profession. He learned from the institution’s employees that the money was on the deposit with an interest rate of 17 percent. per year.

Two years have passed. The hero of the “El Pais” article came to the bank to withdraw 30 thousand. euros for leg surgery. A shock was waiting for him there. It turned out that he lost all the money. In short, he thought he had been cheated.

Currently, he is a savage tenant in his own home, who has unknowingly mortgaged it.

He told media that he has depression and anxiety and that he is going to a psychologist.

Fighting with the bank in Court

The old man’s family decided to fight for money. On Thursday, she brought her fourth action in a civil case against the bank. It’s just that it’s been going on for 14 years. As part of three previous processes, the bank defended itself that Guerrero himself is not familiar with finances and was not aware of the consequences of investing in high-risk products. As you can see, the property did not hit the safe deposit, but it was spent on investment funds.

– A bank employee told me that money was in good hands, without risk, and I blindly trusted him. They ruined my life – the victim recalls – I never went to school, I don’t even know what profitability is. You will give me a pickaxe and shovel, I will do the work, but I don’t know anything about banks – he adds.

For now, the court has decided that the bank should return to him and his children about 2.3 million euros.

Our educations system does not give too much importance to teach how money works. The ignorance about “money” might be an intentional thing. Children, in school, learn about Christopher Columbus but they don’t learn how our money is issued and how our monetary system work.

Bitcoin is contributing to bring more awareness about our monetary system, with governments and banks as the key players in this system and the flaws these key players pose to the system. Also, it is helping to reduce the economic inequality that this monetary system produced.