Friday, July 7, 2023

The Politicization Of Banking And The End Of Freedom

When the talibanisation of banking starts to become a society-wide tendency, or the banks involved are so enormous that they exercise a major hold over global payment systems upon which customers' livelihoods may depend, then a customer with the "Wrong" political opinion may well end up having to either face a major business setback, or be effectively driven into exile in another country, where life is more tolerable.

Imagine a society in which outspoken conservatives, or Brexiteers, or libertarians, or socialists, were systematically locked out of banking services: those dissenting openly from the political views of the banking establishment would be condemned to live as economic pariahs: no mortgage, no credit cardS, and no way to conduct a normal business.

Citizens would effectively forfeit their right to buy and sell, or participate in a market economy in a normal way, just because they expressed opinions disapproved of by the banking establishment.

Banks would then become instruments of political persecution and totalitarian groupthink instead of institutions devoted to the provision of banking services to the citizenry at large.

The public square would quickly degenerate into an echo chamber of opinions approved by the banking establishment.

Either way, under a talibanised banking system, such opinions would face little opposition.

Many who cannot bear losing their political voice would probably emigrate to a country where banks still provide their services to citizens without regard to their political opinions, leaving behind them a citizenry that is like putty in the hands of its banking masters. 

https://brownstone.org/articles/the-politicization-of-banking-and-the-end-of-freedom/ 

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