On Sat, 2014-01-25 at 23:09 +0100, Daniel Pocock wrote: > > On 25/01/14 21:13, David Gerard wrote: > > ZeroHedge is the NaturalNews of economic blogging. They have predicted > > 200 of the last 1 recessions. > > Hence my opening comment that it is not really about a bank run, despite > the hype > > > The HSBC cash restriction is about pressure from the government after > > HSBC was busted blatantly money-laundering for drug cartels. The > > restriction does not apply to non-cash transactions. Despite > > scaremongering from foolish people. > > > > That, too, is what I commented - getting more people to pay by > electronic means (making cash/anonymity appear shameful) seems to be the > objective
It is more complex and at the same time, I believe, simpler, than that. Cash is inconvenient for banks, it is hard/expensive to move around, can be easily stolen, and requires costly procedures to handle. In contrast numbers on a computer can be easily double checked, cannot be stolen from a branch office as easily and can be transferred easily between banks and customers. So, although, I do not deny there are those that really like the idea of tracking people, I think it is mostly due to cost-cutting. You can certainly use prepaid, anonymous, credit cards, and the banks would be as happy. Simo. _______________________________________________ Discussion mailing list [email protected] https://mail.fsfeurope.org/mailman/listinfo/discussion
