In a recent BBC TV interview Edward Snowden described how the security forces are able to use our smartphones to locate where we go and listen in to our day to day conversations, remotely turning them on in our pockets or bags if necessary. This level of personal invasion is on a par with rape but whilst they are intimidating us they are not actually manipulating us.
In the financial arena of our lives however, there is no doubt in my mind we are being manipulated and suppressed in an ever tightening vice like grip. It begun with the 2008 crash when our taxpayer money was taken from us, forcing our governments to borrow vast debt to prop up a weakened Society.
These loans demanded ‘austerity’ measures which have seen our state services dramatically reduced and other entities sold off at record low prices to, supposedly, help repay that debt. Austerity is severely weakening global democracy, as corporations make themselves more powerful through their own seemingly irresponsible actions.
With another financial collapse on the way, the banks are seeking to ‘safeguard’ taxpayers by stealing their savings and investments instead! This new form of theft is being enforced by legislation (the Bank Recovery and Resolution Directive (BRRD)) from the EU who, interestingly, have recently ordered 11 countries to enact it within two months or be hauled before the EU Court of Justice, according to Reuters.
In essence banks are now authorised to convert the money we hold with them into their assets if they get into trouble. So our current account, savings, or other investments, become the banks property to be used to prop them up, in the same way our taxpayer money did in 2008.
Whilst the UK has government protection (which is currently being reduced from £85,000 to £75,000 per customer if a bank goes bust), in Austria their parliament enacted legislation which removed government liability for all bank deposits, leaving bank customers high and dry – a worrying precedent!
We are being set up to have our own money stolen from us again, as in 2008 and financially enslaved to exert greater control over what we do.
It makes sense to me when we now hear that the Bank of England, no less, wants to do away with cash! They are citing the reason as confronting “money laundering and other criminal abuses”. Its replacement could be a digital currency along the lines of Bitcoins.
And this only a year or two since they launched a blistering assault on Bitcoins and other virtual currencies as being the “haunt of criminals and money launderers”! If we add to this the reports over the years of whole bank branches in the US being run by criminals for the very purpose of money laundering, their whole argument about their responsibility with money becomes questionable at least.
What the eradication of cash will achieve is greater control over our money by banks. Every penny, cent, peso, lira we spend will be recorded by them and our privacy will again be violated in an indefensible manner.
Unlike smartphone surveillance however, they will be able to exert a control over us with their ability to simply shut down our means of payment, be it plastic card or smartphone, citing some vague abuse or clause in their endless terms of business. I can see a ‘daily allowance’ being instituted “for our own safety”, which they control, as is currently the case with cash dispensers. They would be capable of restricting how much we take abroad or buy from abroad . . . or anywhere!
Removing cash further allows them to manipulate us with the new phenomenon of negative interest rates, where our savings reduce instead of increasing. With no other option available, like cash, we would then be forced to spend, thereby boosting the economy (which is what they want!).
Cash has always provided us with the freedom to do what we like with our money. We can save it, hoard it if we do not trust the banks and retain an independence over our lives by how we spend it. That will all disappear overnight as ultimate control is taken over by the banks.
(As I write NatWest have just emailed to tell me they are withdrawing their ‘Cash’ Back (my quotes) service and replacing it with My Rewards . . . Same service, different words. Hmmm!)
If we add to these threats the watering down of global democracy by notorious trade agreements, such as TPP and TTIP, there is a vast shift in global power going on at present, caused by the advent of the internet. Traditionally we have been controlled through ignorance, by ‘divide and conquer’ where, as long as we fight each other, we are not a threat to those who rule us.
That means of control in now dead in the water as the internet educates us and brings us together for the first time in our history. Rulers are turning to direct control to counter this unification and debt is more effective than physical conflict. Look at the recent experience of the Greek people to see the reality of this new era of financial power and control.
As the Greek people have realised, we can only retaliate with political power, by putting the right people in place to fight our corner. History shows us, with monotonous regularity, that austerity/financial stricture is always the cause of revolution . . . and now it could be global!
Conspiracy Theory? . . . You Decide
Until the next time
Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes