The tax payer bailed out and until recently publicly owned Lloyds Bank will start blocking crypto-currency credit card transactions.
The move, which affects Lloyds Bank, Bank of Scotland, Halifax and MBNA customers, will not be communicated to their customers through the letter box, nor will there seemingly be any changes to the terms and conditions.
“We continually review our products and procedures and this is part of that,” a Lloyds spokesman said. And just like that, your freedom now limited, without even an explanation.
The mainstream media is saying they are worried about customers racking up credit card debt and thus be unable to pay it back, but why they are not equally concerned about slot machine players, they do not say.
The move, in a way, makes sense. You should not really be borrowing to invest in a very risky asset, but then, preferably, you should not be borrowing at all for anything.
Yet if no one borrowed, there would be no such thing as fiat money, a money created through debt. Debt that a very small number of banks countable on one hand decide who to give it to like landowner aristocrats of old decided which peasant can work on their land.
The news, moreover, follows a new policy by Visa suspending major pre-paid cards that allow crypto payments. With Barclays apparently stating they have no policy to ban bitcoin related transactions with or without a credit card, but Visa or MasterCard might.
Who, therefore, is making these decisions in unclear. Visa and MasterCard are after all the monopoly of monopolies. Have they asked Lloyds to drop bitcoin related credit card transactions or they will drop Lloyds? Who knows.
What we know is that the decision by Lloyds and some other American banks, like Citigroup and JP Morgan, is unprecedented, certainly in modern history.
Beyond illegal transactions, banks have not previously found it fit to tell the public what to do, yet now, perhaps after they saw they could get away with trillions, they think they can order us around too.
What next? Will they tell us how to use our debit cards? For our own good of course. Will they perhaps tell us how to run our countries, whether we should leave Europe or not, like they did tell us?
Now, if they can get away with this, why can’t they get away with quietly in effect making public policy by deciding what candidate to fund with their debt money and, more worryingly, what candidate you can fund with your money.
At what point do we then lift the charade and say all nations are bankrupt due to the incredible debts they have ranked up which are somehow owed to these banks, and thus all nations are run by banks.
For in a world where money is controlled by a handful of for profit global corporations, then the world too is controlled by them.
No industry could have gotten away with taking trillions from us, but banks could, as they have full possession of our money, and now they dare tell us how to use it too.
Nor will any parliament dare touch them for they are too big to fail and too big to even risk any perception that they might make loses. Which translates to, they own us, like landowners owned the peasants.
And just like landowners, banks too are unaccountable, breaching regulations as they please with a slap on the wrist at best, if that. So much thus for our democracy and our property rights when banks can just take our property whenever they please in what is descending into a kleptocracy.
The rule by legally enforced monopolies for their own benefits acting anti-competitively without one so called representative raising a sound.
And then they wonder what the value of decentralized money is, with the paid for elected and the paid for mainstream media gladly singing the song of their paymasters.
Yet no one can hear their song any longer. There’s a new money in town where you alone have full control over every aspect of it with no fat cat able to just take it whenever he likes.