Will Banks Freeze Our Accounts Here?

In Case You Missed it Thailand recently froze over three million bank accounts without warning because of government overreach, prompting us to think:  Will banks freeze our accounts here too?

 

Ironically (or NOT) this phenomenon is not limited to Thailand.

Because Vietnam recently erased 86 million unverified bank accounts.

 

So, what in the world is going on?

 

It’s called control…and it will be implemented through biometric data in every aspect of life…made possible with the use of digital ID’s and/or Central Bank Digital Currencies (CBDC).

 

Under this system every banking transaction is monitored and scrutinized.

And any perceived discrepancy is flagged as fraud and punished without due process.

Like a science fiction film from many years ago, imagine the following:

 

• Your transaction is denied.
• You contact your bank to see why the payment failed only to learn that your account has been frozen–all your accounts, for that matter.
• The bank is investigating you for suspicious activity and potential money laundering or fraud.
• There was no warning call or letter and there is no clarification as to what transaction was flagged.
• You’re completely locked out of your accounts and have lost the ability to purchase.
• You cannot fill your gas tank, you cannot purchase groceries, you’ve been completely removed from the financial system.
• And you do not know when or if you’ll regain access to your funds.

 

Think it can’t happen?

Tell that to the millions of people banking in Thailand who are experiencing this in real time.

 

Banks Freezing Accounts

 

Adding insult to injury, the Bank of Thailand (BoT), with the Cyber Crime Investigation Bureau and the Ministry of Digital Economy and Society, began an excessive crackdown on perceived fraud and streamlined the process under the premise of safeguarding the banking sector.

 

Thousands of accounts are being frozen each week as Panic has ensued.

Retailers are no longer accepting cards, demanding payment in cash as they, too, are worried that they will be removed from the banking system.

 

Not surprisingly, confidence in the government and the entire banking system has evaporated.

And Thai citizens (with good reason) fear that their account will be targeted next, without warning.

Government overreach has backfired (AGAIN) and the people are removing themselves from the banking system entirely.

This begs the question:  What are governments so worried about that they find it necessary to use biometric data to track every citizen?

 

Answer:  They believe these provisions (biometric data, digital ID’s, CBDC’s etc.) will prevent capital from escaping the radar so they can be sure to tax it.

 

Got Gold?

 

Learn why you should avoid digital ID’s AT ALL COSTS…and own more gold in our upcoming October edition of “Simplifying Wall Street…In Plain English” (HERE).

 

Share this with a friend…especially if they are prone to ignore topics like millions of bank accounts being frozen in Asia.  They’ll thank YOU Later.

 

And tell them:

 

We’re Not Just About Finance

But we use finance to give you hope.

And you shall know the truth,

And the truth shall make you free

 

~ John 8:32 ~

 

 

And don’t forget: