Tuesday, 12 March 2013
Who Said The Banks Were Too Big To Fail?
Mine failed a few weeks ago when the balance showed as zero and I couldn't make any transactions.
My wife's failed more recently, for the third or fourth time.
Too much is at stake for the banks to fail, but they do, and they will.
A widespread failure of the banking system would lead to complete chaos, in a very short space of time.
It is very difficult to prepare (at least physically) against this. It is similar to having to buy another car because you realise that, at some point, yours is going to stop working. Most people can't realistically afford to have another car sitting on the drive, just in case.
One suggestion to offset the effect of bank failure calamity, is Co-operation. The idea that we help each other out to the benefit of the community. Sounds strange to our self centred ideals, but it will become more appealing.
Here is the danger. What if government gets there before you do?
What if they steer you into a community lifestyle by leaving you no alternative?
What if... the collapse of the economy was engineered, solely to bring about a communitarian agenda, where we sacrifice our individual rights for the greater common good?
OK that's just my imagination running wild again.