Monetary Response To A Crisis

On today’s show we are looking at some currents that are underneath the surface which to me are very concerning.

We have a history as a society of taking quantum steps to relinquish our individual rights in response to a crisis or even in some cases for convenience. 

In the wake of the terrorist attacks of Sept 11, 2001 many people in the West allowed for governments to collect much more information about each of us in the name of safety.

Winston Churchill said, “Never let a good crisis go to waste.”

Today, payments are increasingly becoming electronic, which means that your banker knows when you bought pizza from Dominos at 2AM. So far the government doesn’t know that you ordered pizza at 2AM. But if they did, what value judgement would be applied to that transaction? Would it impact your credit score?

At what point will government become enmeshed in your financial world? What will be the trigger?

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Host: Victor Menasce

email: podcast@victorjm.com