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System Imperfections


One of my more generous headings but designed so as to avoid alienating the writer from his target audience - those who recognise that change is now a necessity.

On 17 April the Guardian reporter Rob Evans told the story about how less than 1% of the population owns half of England. Think about it. Half of this "green and pleasant land" is owned by less than 1% of its populace. The number is comprised of around 25,000 landowners - typically of the aristocracy and corporations - who have effective control of half of the country.

Such stories afford certain left leaning politicians the chance to roll out their tired claims of our country being for the few and not the many. Of course, this all changes when the issue of BREXIT is raised...

Our centralised system continues as before - claims to the contrary, sadly, far from the truth.

A bastion of this system - a bank [shock] is in the news again, for all the wrong reasons, and not for the first time as regular readers will confirm. Deutsche Bank is facing yet more fines and legal action due to its role in a $20bn Russian money-laundering scheme. In 2017 the bank was fined $163m by the FCA and $425m by the US Department of Financial Services. Between 2011 and 2018 it paid $14.5bn in fines. Wonder if the bank will raise its charges again?

Finally today, news that the largest UK travel management firm Corporate Traveller is now accepting Bitcoin. Using Bitpay to process the change from Bitcoin to sterling a fee of 1% is charged and is, according to Corporate Traveller "cheaper than credit card processing."

Interesting.

The many continue to promote the existing system as being fair to all and yet banking facilities are denied to 2/5 of the world's population. Those same banks place profit at the top of their to do lists and do nothing to help those who need it most. And as for politicians...

#blockchain #cryptocurrency #newsystem


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