Bank Accounts FROZEN – No Questioning Allowed
(RightWing.org) – Across the world, digital platforms are creating opportunities of convenience. Many people listen to music or watch movies on their phones anywhere and at any time they like. Are you lost? GPS is readily available in most vehicles or on a phone. Likewise, if you don’t want to carry cash or cards around, you can use Apple Pay or Google Pay to make non-cash purchases virtually anywhere.
What happens when control of all this personal electronic communication and currency is readily available to the government? In Pakistan, the consequences may be coming to light. China and Europe are developing digital currency, and some wonder how long it will be before the United States catches up. Will political factors empower officials to cut access to your money, assets, and other important things — impacting one’s entire life?
Speaking Out Against the Government Could Get a Bank Account Frozen
In Pakistan, Interior Minister Rana Sanaullah Khan recently warned if citizens became outspoken against the regime, it could block their biometric cards. That would effectively cut people off from their bank accounts, mobile phones, and even strip them of their passports.
So, what prompted the threat? The interior minister targeted former Prime Minister Imrah Khan and his political party after some supporters harassed a government official at a restaurant. The new regime charged the ex-prime minister with a crime, and the administration has placed his supporters under intense scrutiny.
The question is, could this happen in the West?
“Chinafication” Threatens Freedom and Personal Finances Across the Globe
Pakistan isn’t alone in threatening its citizens. China has been developing digital currency to enable the communist nation to gain more control over its citizens. Beijing has created the foundation that would allow the government to track every bank transaction as it moves toward a cashless society.
What would it mean for Christians, Muslims, or human rights activists inside China? What about US companies doing business in the communist country? Eventually, they will use the Chinese system if they want access to their marketplace.
Concerns are growing that the West is following in China’s footsteps, and Europe is moving toward a “Chinafication” of its economy. The European Union (EU) is creating a digital identity program and plans to make it available in September 2023. Everything one needs will be stored on their phone, giving the government instant access to everyone’s personal information.
In the US, it may be a bit more complicated. Still, cash transactions are on the decline, especially in the wake of the COVID-19 pandemic. In 2020, only 19% of all transactions were cash. Many businesses have moved to a cashless-only system. Still, 73% of consumers believe America will never become a cashless society, while 22% say it could happen within a decade as the private sector moves in that direction.
Approximately 7.1 million Americans don’t have a bank account and don’t want one. The unbanked aren’t just the poor, either. Still, it may not deter the government. In March, Biden signed an executive order instructing the bureaucracy to study the possibility of the federal government creating its own cryptocurrency. In April, Treasury Secretary Janet Yellen said the administration was evaluating the development of a digital dollar. She stated it could take several years to develop.
So, is it just a matter of time before the US becomes a cashless society and follows China and Europe?
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