Anyone who has not been hiding under a rock for the last year (yes, I know there are a few) will already know that the banks, along with the IRD, are pushing an agenda to dispense with the long-standing tradition here and around the world of trading with the use of cheques.
Cash comes in the form of coins and bank notes. The coins are no longer made of gold or silver. Their intrinsic value as metal is only a fraction of their representative value as coins. Paper money, also known as ‘bank bills’ are simply numbered formularised pre-printed cheques or promissory notes issued by a bank. Often, I jokingly reassure people when paying by cheque that my cheque is safer than cash because I am an honest man who pays his debts whereas the Government and the banks are proven liars and cheats who will stiff you if they can.
Over the course of time we have seen some major banks – ASB, ANZ, and BNZ – retain their New Zealand names whilst joining our Government’s bank Westpac in the ranks of foreign ownership.
Like Governments, banks have managed to sell the myth that they serve people rather than rob them. It is obvious even to the most casual observer that they are amongst the most successful robber barons on the planet.
Owning a bank is literally a license to print money. Recent figures courtesy of Sam Stubbs – who developed a tool to track the profits of the four Australian banks operating here – say Australian banks are making $580,000 in New Zealand every hour, money the former Kiwi banker says should be staying in the country.
The nature of greed and the nefarious actions of banks are hardly news. That banks and Governments are in cahoots is not news either. Anyone who paid attention to the shenanigans here in Kaipara knows that when illegal actions by the KDC were uncovered the Key Government worked swiftly to protect corporate and banking interests at ratepayer expense. What may not be widely known is that legislation regarding funds deposited into a bank is defined as an unsecured loan to that bank. Try however to obtain an unsecured loan from the bank and see how far you get.
Also in place is provision for 10 per cent of depositors’ money to be deducted and used to ‘bail out’ banks and financial institutions should another economic crisis like that of 2008 occur. Interest rates heading to or already at zero around the world clearly indicate that the current monetary system has reached its use by date and the reset cannot be forestalled much longer.
Banks have a sad history of closing branches, reducing services and increasing fees despite always having made obscene profits while offering a dubious service. They produce absolutely nothing of actual value to people. Their sole product is debt. ‘Mortgage’ is a Latin word meaning ’death grip’; it is a method of enslavement. However, this most recent move is led by IRD under the pretext that cheques ‘are too costly to process’.
They do not explain how they managed to process such cheques efficiently enough when the tax take was lower and the technology more antiquated. Looks to me like we are being lied to again and the stated reasons are a pretext to achieve other unstated agenda.
Like the massive closure of branches, the move to abolish cheques will most likely hit the oldest the hardest. Many older people, myself included, are used to doing business with chequebook and pen. One reason for this is the ability to keep a running balance, and my own idiosyncratic record of transactions, rather than trust an electronic record kept by an untrustworthy bank.
Undoubtedly the removal of cheques without even any pretence of public consultation is a precursor to ushering is a cashless system where every transaction can be monitored and controlled by a central banking cabal. Is this a good idea?
As we saw over the busy holiday season in Mahurangi, electronic and mechanical systems fail. When power or internet failure occurs without cheque and cash alternatives all commerce grinds to a halt. As one who, by bank error, had his account frozen under the The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Amendment Act 2017 (insufficient ID for Prof Worzel) had it not been for an alternative cheque account I could not have purchased food.
Do we want this? And what are the alternatives? In the short term we should wherever possible take our business away from any bank that will not accept our cheques. I have withdrawn all but a few dollars from my Kiwibank account. There are alternative stores of wealth. Some time ago I advised my readers to purchase gold and/or Bitcoin as an alternative to the banking system. I have received no emails thanking me for this advice so I must assume that very few did. Those of us who have are enjoying substantial rewards.
The TSB has the lowest fees of any bank currently operating in New Zealand and still issues chequebooks and processes cheques. They are, along with the Southland Building Society, Heartland Bank and The Co-operative Bank, the only other New Zealand-owned banks. In the longer term it is, much like 5G, a matter of politics. Make your views known and support people and parties that will represent freedom of choice for the people.
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