andyh wrote:
100% digital will be the proposed 'solution' with supposedly no hiding from taxation....
I think its still a few years off yet though, we'll probably see more of thus so called austerity for a long while yet. Most of the population don't even have 10k in the bank let alone 100k anyway so the bank guarantee will cover the 'plebs' lol..
This maybe should be in the HSBC 'beg for your own cash' thread, but it also covers andy's post above.
(Extracts)
We Are Sleepwalking Towards A Cashless Society
During the same period the bank seemingly had no such troubles honouring electronic transfers, from which one can fairly surmise that it’s customer’s cash, rather than customer’s money in general, that’s at issue.
This new stunt from the British-based bank, already up to its neck in just about every financial scandal imaginable, is merely the latest episode in big finance and big government’s all-out assault on cash transactions.
As Patrick Henningsen at the Center for Research on Globalization notes, “it has long been the dream of collectivists and technocratic elites to eliminate the semi-unregulated cash economy and black markets in order to maximize and to fully control markets. If the cashless society is ushered in, they have near complete control over the lives of individual people.”
ragingbullshit.com/2014/01/28/we-are-sle...-a-cashless-society/
Naturally it goes without saying that most of the institutions that will rule the digital money space will be the very same institutions — institutions like HSBC — that have already broken pretty much every rule in the financial service rule book.
They have manipulated virtually every market in existence; they have commodified and financialized pretty much every natural resource of value on this planet; and in the wake of the financial crisis they almost single-handedly caused, they have extorted billions of dollars from the pockets of their own customers and trillions from hard-up taxpayers.
So in essence - our slave labour creates a virtual currency- which belongs to
them, which they may ration out back to you, to enable you to survive in order to continue your slave labour. -
But ONLY IF YOU OBEY THEIR RULES.
