Banks Cannot Be Trusted To Behave Ethically
“A view is that the…greed motivation of banks, means they cannot be trusted to behave ethically in the interests of the communities they ostensibly serve.”
Sophie Amat, a guest on the Clothesline, writes compellingly about ‘gandhi-nomics‘ and how decentralisation was part of Gandhi’s message… and how this relates to the emergence of Bitcoin, in light of Satoshi Nakamoto’s vision.
Many of us are questioning banks and their position of power and abuse of it too. No longer willing, perhaps like our parents did, to trust the authorities who claim to ‘have our best interests at heart’ we now are waking up to the social engineering and manufactured consent of which linguist and philosopher Noam Chomsky repeatedly refers.
Financial intelligence is not something many of us learned from our parents: most of us are part of the 97% of people caught in the mouse-trap of debt and overspending. The efforts that governments, the media and private groups like banks employ to influence particular attitudes and behaviours of a given slice of the population, mean that we end up deep in financial stress, that become the unseen chains of debt slavery. By influencing spending habits of most people (like us), we generally end up flailing in bad debt like credit card overspending and mortgages we can’t afford…
As a world economy, we were not taught (as children or adults) how to manage money. We were not taught how to protect our cash, how to avoid spending money we don’t yet have and creating a life of debt-slavery, how to invest wisely with real returns in a variety of options, how to plan for retirement long before old age, or how to know what NOT to throw our money at.
With the advent of Bitcoin and other emerging cryptocurrencies, and what Sophie refers to as ‘…the first global, decentralised digital money system that the modern world has ever known’ we are now literally witnessing the collective turning away from banks, from Governments and from traditional methods of mass societal control: finding new ‘horizontal’ rather than top-controlling pyramidic structures for living.
It brings to mind that singsong taunting childhood chant:
‘I’m the King of the castle, you’re the dirty rascal’.
We may have lived like dirty rascals to date: living lives of increasing plastic fantastic debt incarceration, but we have the option, with caution and due diligence, to step out of the moat and into the shower of new emerging digital currencies, experimenting safely with what refreshing frontiers the technology-inspired future holds…
…I think if Gandhi were here today — meaning incarnate as the said physical embodiment — to witness this unfolding, he would approve wholeheartedly with the development of the digital currency sector. That it coherently leads in the direction of widespread and dispersed participation in the end-to-end product and services delivery and governance processes that you would expect from any viable financial system. Perfect the sector is not. Albeit perfection is in the fact that it was borne anyway. Perfection is that it continues in spite of technological, sector governance, centralised regulatory and competitive market obstructions almost 10 years after inception.