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From NakedCapitalism.com
You simply cannot make this up. A commentary from the Reserve Bank of Zimbabwe complementing the UK and US government for following its leads.
As banks fall around the globe, and opening a bank account becomes a paper nightmare, digital currencies seem to be the future. Some of these currencies are actually backed by gold, but finding the jewels in this jungle of untrustworthy websites (let’s face it) can be more difficult.
My favorite so far is Pecunix, a well encrypted, well devised gold backed e-currency. In combination with E-currency exchange websites and digital credit cards, who needs a bank account?
Living without a bank account, but not becoming a recluse, is that possible? My answer is: “Yes it is!” And I can show you how.
During the past 15 years, the Federal Reserve quadrupled the amount of dollars in existence. At the same time major financial institutions obtained far reaching guarantees from government in order to increase the percentage of house-ownership amongst low-income families. It was the perfect recipe for a housing boom and bust.
Over the years I dealt with various banks and witnessed the impact of big brother states on financial freedoms. It wasn’t just 9/11 that triggered all this, it is something that started way back earlier. Governments are always on the lookout for new ways to control and subdue their populations in every aspect of their lives, terrorism just gave them new excuse; now did we not only have a war on drugs, but a war on terror too.
Slowly but gradually banks became target of stringent demands for KYC policies, making an end to real financial privacy.