2021-10-11
The power of computing being now vastly in excess of what it was just a few years ago (I well remember when a hard disc would hold around 10 megabytes - now even I can easily afford a massively more reliable, physically comparatively tiny, storage device capable of handling a million times more data) it is technically perfectly feasible to give everyone an account at the central bank and do away with all the costs and complexity of the network of individual independent banks which currently serve our banking needs.
Think how much money that would save!
But would I benefit?
Currently I don't overall pay any net charges to my bank (although some do, and the extent of free banking seems to be shrinking rather than growing these days). So any benefit would likely accrue to the service provider rather than the customer.
Putting all the nation's banking eggs into one state/oligarchical monopolistic basket doesn't strike me as likely to increase my freedom - quite the reverse, since the not-necessarily-benevolent financial power in the land would know more about my financial affairs than even I myself would care to remember. Nor might it enhance overall banking resilience, since hackers could concentrate on the one target and disaster recovery would probably become a nightmare afflicting the entire nation.
Certainly though this idea is now very much on the table as the great financial reset looms ever closer, and the WEF hones its plans for world domination under their agenda of "benevolent" slavery to the great and the green. Giving everyone a Central Bank account would certainly facilitate a move to giving everyone a World Bank account in due course, as soon as the WEF felt ready to take that step.
