As long as all roads still lead to Rome, nothing has fundamentally changed.
At least he was “honest” OGF?
And blatant as well!!
It confirms my opinions on the world monetary system !!
That univesal credit aa la credit cards will be the big stick that will
be used to force you out of bed every morning instead of relying
on starvation? We will become the slaves of our wants as
opposed to our needs??
We are halfway there already, witness all the grounded aircraft
lying unused all over the world due to a flu epidemic!
People are allready flying again despite the risks of spreading
contagion to all and sundry?
Its as if they are compelled to have four holidays each year??
Availability of credit is the driving force !!
Donkeyman!
Just been announced! HSBC is ending free banking!!
Just another step in the banking systems long term aims to
make maximum profit from prcessing what passes for money
these days?
So now, instead of the banks enticing your money out of your
pocket and into their vaults by offering you a small interest
payment, They are now going to charge you a fee for the honour
of it just laying there doing nothing? Why would we do this?
It may as well lay under our mattress ??
Hence the drive to remove cash from the system ??
We wont be able to keep our credit balance under the mattress !!
Once we are hooked, if we become restless about how things are
going, all they have to do is to switch off our cards !!
This has happened allready in Greece at the beginning of the greek
financial crisis, when citizens were unable to access their funds !!
Combined with the huge reductions in bank staff over the last few
years, this means that the large profits banks make will now be
shared amongst vastly fewer people !!!
We need to lobby for a return to cash as a matter of urgency before
It becomes fait accompli !!
Donkeyman!
The Government’s now announced it will change rules in the Consumer Credit Act 1974 – which requires lenders to send these letters – to make the letters more supportive and less intimidating. New legislation, which is expected to come into force in December 2020, will require legal language to be explained in plain English, stop the use of threatening capital letters and require firms to signpost borrowers to free debt advice.
At the moment, these “default notices” are sent to people struggling with many different types of debt, including overdrafts and payday loans.
Much of the content of the letters hasn’t been updated in nearly 40 years, and often contains outdated advice to those in problem debt – such as telling people to consult a solicitor or Trading Standards board, when it would be more appropriate to signpost people to support such as free debt advice. And the way they’re formatted – with blocks of capitalised text containing threatening and confusing language – can be extremely intimidating.
I’m all right Jack attitude is contemptible.
Hi
The end of free banking is in sight.
Interest Rates are so low banks are losing money.
The Bank of England is moving towards negative Interest Rates.
It is an inevitable consequence of the vast amounts of money borrowed to pay for the Pandemic.
This is one reason banks like HSBC are investing in customer engagement solutions like Pepper, the humanoid robot that offers visitors a charming, charismatic, and fast alternative to waiting in line for a teller. Pepper can help customers address basic needs, without having to wait for staff support, and can free up staff to focus on better customer experiences. Not only has Pepper helped HSBC improve employee morale, but within the first five months of adopting Pepper, HSBC saw YoY growth of 44 percent.
I wonder is it time to buy gold and diamonds with spare cash?
From a younger perspective.
Instead of the robot Cinders, why dont they put a dedicated human
being on the job??
What have they got against people ??
Donkeyman!
Robots don’t need paying, coffee breaks…holidays…pension schemes etc, after the initial outlay its money in the bank …sorry
Ha! You beat me to it Vlad…And they won’t have to worry about equal opportunities by employing a Black person, Asian, Chinese, Polish, Disabled, Gender neutral or Geordies…
A gimmick.
Yeah right.
https://www.debatingeurope.eu/2017/09/26/should-cash-be-abolished/#.X5v55uqnxcs
Proponents of a “cashless society” argue that paper money facilitates corruption, organised crime, and even terrorism. However, critics point out that electronic payments cannot be made without leaving digital traces, potentially allowing the government to snoop into our business even more than it already does. Also, transaction fees for small amounts can be prohibitive, and some people worry we would be making ourselves more vulnerable to cybercriminals and hackers.
Saving with cash is easier for many than with a credit card, the current right to a basic account in Europe can not prevent high fees for card payments and those in need do not have a card reader. However, the European Commission is planning a European-wide law to limit cash in 2018.
From German consumer protection organisation.
" We, as a consumer protection society, see no good reasons for the abolition of cash but, of course, there are stakeholders who are interested in such a thing, such as banks. If we imagine there was no cash then, in the case of a financial crisis, consumers could not come up with the idea of simply withdrawing their money and then placing it under their pillow or in a safe… The “bank runs” we have seen in other countries would no longer be possible. Negative interest rates also become more attractive if consumers cannot withdraw cash…
Of course, some businesses also support this idea, because if everything can only be paid digitally – and because digital transactions are not anonymous – you can harvest a lot of important and interesting data, from which you can build advertising and marketing strategies.
There are, therefore, many stakeholders in the economy interested in abolishing cash for their own benefit.
That link you posted Cinders loks exactly like an earlier post of
mine??
Do you think l should sue??
Just wait till the capitalists get their hands on robots??
The banks are only the test flights because it was easier to do
with banks?
Do you think the elites wil allow us to sitnaround al day while
robots earn our keep for us like they do ??
I wonder what they have in store for us???
Donkeyman!
Robots already keep their keep.
Do you mean that robots allready earn their own keep Besoeker
Or that they earn the keep of the elites??
I suspect you meant the latter?
My question is, what will they do with us ordinary mortals ??
Donkeyman!
I bet we end up making Mash Potato.
Robots have long memories.