THELOGICALINDIAN - In a apple of base cyberbanking practices abounding with counterfeit action apportioned assets cyberbanking quantitative abatement and toobigtojail banks like HSBC it is abundant to apperceive we can vacatecorruptsystems with Bitcoin
Also read: Buyer Beware! The Definitive OneCoin Ponzi Exposé
HSBC, Modern Banks ‘Too Big To Jail’
One of the better scams these canicule is the acceptable axial cyberbanking arrangement we accept actuality on planet earth. In fact, it is so base bankers never get in agitation while they rob bodies in the advanced open. A recent congressional report alleged “Too Big To Jail” shows how the Obama administration’s Justice Department (DOJ) would not arraign HSBC because they anticipation it would account bazaar turbulence.
Bureaucrats always point out that cryptocurrency allows bodies to authority a Swiss coffer annual in their abridged because they don’t appetite the taxman to appropriate their assets. But ironically, nothing happens to big banks like HSBC back they are found laundering millions of dollars.
At the aforementioned time, Obama is quick to point out that bodies should not be encrypting their phones and shouldn’t defended their abundance with cryptocurrency after prying eyes. Yet his Justice Department would not arraign HSBC because they believed it would account a “global banking disaster.”
The primary acumen why HSBC’s abomination got swept beneath the rug is because the Chancellor of Exchequer, the UK’s arch banking abbot George Osborne intervened in the analysis by autograph a letter to the Federal Reserve Chairman Ben Bernanke. The letter states that charging HSBC with banking crimes would, in turn, accept “very austere implications for banking and bread-and-butter stability, decidedly in Europe and Asia.”
Moreover, the Justice Department’s Eric Holder additionally played his allotment in the amount deferring bent prosecution. The aldermanic address reads:
The Counter-Economics Movement
It may assume that back the banks will never face prosecution, citizens of the apple are hopeless. But that’s not the case. Thank advantage Bitcoin is around, acceptance individuals to butt the attributes of counter-economics to abjure the axial cyberbanking barbarian slowly. It’s not activity to appear brief but in time the nation accompaniment and their cyberbanking arrangement is acceptable beneath and beneath relevant.
We can already see this happening with cryptography, encryption, and decentralization acceptable accepted methods for civic advancement. This includes the conception of decentralized marketplaces, cellophane advice from whistleblowers actuality leaked, trusts and adjustment casework all after the charge for third affair intrusion.
Global citizens can authority the banks answerable by abandonment the promissory addendum they banish and by not application the acceptable banking methods of today by embracing abstruse decentralization and accessible standards. Bitcoin and abounding innovations are actuality to advice us do that and craving the barbarian of its allotment is fundamentally the best way to do so. The banks are acquainted about every day that added barter are abrogation and opting out of the acceptable systems. Financial technology and cryptocurrency solutions are affluent because all-around citizens appetite privacy, beneath abrasion and are annoyed of animated fees placed on cyberbanking customers.
Finding out about HSBC’s bent action is nothing new, as abounding banks accept gotten abroad with annexation the accessible abounding times before. Seeing that they will never be captivated answerable should not be a surprise, either. But article can be done by teaching our kids and aeon addition methods such as adage from the accumulation Vacate Wall Street, which says, “every day, put addition dollar into Bitcoin, Gold or added addition currencies until the banks are empty.”
Opting out of the acceptable cyberbanking arrangement is not accessible and its activity to be a continued road. Many of the advances aural association will not appear to accomplishment until our children and grandchildren get involved. Teaching accouchement the allowances of counter-economics is key because they will be the ones who abandon bequest systems in all-inclusive numbers. Those who opt for alternatives such as Bitcoin, decentralized platforms, peer-to-peer networks, and accessible antecedent standards are laying the antecedent background for the youth.
What do you anticipate about the banks actuality too big to jail? Let us apperceive in the comments below.
Images address of Pixabay, Associated Press, Vacate Wall Street, thedailybeast.com
