I was never a believer in them, but these years they’re popping out more than ever. In my view if someone doesn’t have a good answer to an issue, they call it just that.
Easiest way to go.
The governments excel in this practice, the media too and efforts are clearly orchestrated.
Not because of bad will, but sometimes the possible outcomes are not yet clear to see, much less to explain, so as citizen, you just make up you own understanding, often outside of our area expertise , hoping not to break any law.
It is said, that given the huge amount of legislation, which not always reflects human nature, every one of us breaks a law everyday, possibly more than just one.
And then there are players clearly benefiting from these theories, keeping people in dark, as to what actually is being prepared.
One example – in these covid days more and more businesses take payments by a card only, touch-less preferably.
Who will benefit from a cashless society? Governments for sure, because they will see and tax all the transactions, but not only them- the other benefactor will be the Fin Tech industry (think PayPal). It is fair to assume that they are moving to limit the market share of traditional commercial banks. The disadvantage the traditional banks have, is the cost overhead - countless branches all over the country and skyscrapers in big cities. They will not go down quietly of course, but we’re certainly in the transition time.
The one aspect of traditional banking is credit creation, a very profitable activity, and it doesn’t seem that Fin Tech will take it over just yet.
Thinking about the covid scandal, I am more and more convinced that something had to be done. Klaus Schwab, of the World Economic Forum Fame, calls it the Great Reset. A number of the world leaders attending WEF say the same.
Pension funds going bust? Negative interest rates? No inflation to make government debs cheaper? No breakthrough technologies on the horizon?
Get people focused on something else to at least buy time. A health scare is about perfect, because it could extended if needed.
And here is my favorite one of the Great Reset, which possibly drives the flow of events – there is not enough work in the world for all of us right now. Hence the idea of guaranteed income, paying people for sitting at home.
I am sure that something new and cool will show up, and we’ll be all back in business, but these inventions don’t happen on a schedule.
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Tom Kubiak is the author of The Traveler