Falco Knotwise wrote: ↑Wed Aug 09, 2023 1:49 pmThere are current examples throughout Europe of conservative persons and charity organizations being "debanked" even though this is still technically illegal. The government has taken steps to protect individuals against this but the regulations still don't protect charities or businesses, according to Nigel Farage.
I watched the video. Very deceptive.
He doesn't provide a SINGLE example of any individual or organization that was involuntarily "de-banked". Not one.
He cites the statistic of 1 million bank account closures over the past 4 years but that is meaningless since he doesn't distinguish the reasons for account closure. People close bank accounts all the time. And I would imagine that at least 1 million bank accounts in the UK closed over the past 4 years simply because people died or moved, changed banks, or abandoned unused bank accounts.
He cites ATM fees as a problem but it is easy enough to shop around and find banks that don't charge ATM fees. Mine doesn't and even provides up to $10/month in ATM rebates if I use ATMs that are not in its system.
In my mind the much larger issue isn't cashless society but banking consolidation. I find cash to be generally annoying.
And frankly, the less people carry cash, the less panhandlers and crime we will see. Good luck panhandling on a street corner when no one passing by is even carrying cash. And what is the point of robbing a convenience store when there is nothing in the till? It also puts a bite into the endless illegal drug trade. How do you buy your fentanyl on the street if no one has cash and there is no one you can rob or panhandle for cash and nothing you can steal and pawn for cash?