Leaving the EU

[shemozzle999]

I wonder why, I can't find anything materially different about their online banking? In fact opening a bank account in Norway is more difficult than in most countries, since one has to first register with a credit agency like Experian.
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Experian is a debt agency promoting the use of credit (debt) cards to make money for the banks by charging extortionate interest rates - they use this system as a form of reverse psychology to trick citizens into believing they are lesser beings if they don't have one or use one and have a low score - I don't have a credit card and have a low score I am pleased to say despite being financially sound (at present).

 

[flecc]

Experian is a debt agency promoting the use of credit (debt) cards to make money for the banks by charging extortionate interest rates - they use this system as a form of reverse psychology to trick citizens into believing they are lesser beings if they don't have one or use one and have a low score - I don't have a credit card and have a low score I am pleased to say despite being financially sound (at present).

I agree, Experian is a money making racket in itself, it's "service" to consumers almost amounting to blackmail.

But of course that usage of these agencies doesn't account for why Norwegians are so in love with online banking, that's a mystery.
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[shemozzle999]

Debt and the control of it is the new currency.

 

[flecc]

Debt and the control of it is the new currency.

Indeed, and has long been the international currency of countries. In the form of national debts of course, the crazy system of countries borrowing to stay solvent at the same time as they lend to each other.
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[gray198]

How is it that companies such as Experian know every penny we spend. Where did privacy and data protection get sidelined so that companies such as this can blackmail us

 

[flecc]

How is it that companies such as Experian know every penny we spend. Where did privacy and data protection get sidelined so that companies such as this can blackmail us

The trouble is that we gave them permission. Every time we casually click or tick agreement to Terms and Conditions, hidden in the small print is this permission to share many of our details.
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[gray198]

Thought that may be the case Flecc. Maybe we should be a bit more careful

 

[shemozzle999]

I agree, Experian is a money making racket in itself, it's "service" to consumers almost amounting to blackmail.

But of course that usage of these agencies doesn't account for why Norwegians are so in love with online banking, that's a mystery.
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It is banks who want it and are slowly convincing the people to follow like sheep to the slaughterhouse:

http://www.ibtimes.com/norways-biggest-bank-calls-country-stop-using-cash-2276140

 

[shemozzle999]

The UK is leading the way by suggesting introducing cashless banking systems within the EU but fortunately their plans have predicatively received an unenthusiastic response.

 

[flecc]

It is banks who want it

The UK is leading the way by suggesting introducing cashless banking systems within the EU

All completely understandable though, even without ulterior motives

The big gain for the banks is getting rid of cash handling, their most inconvenient, labour intensive, time wasting and costly function.

The big gains for governance are the potential elimination of the black economy and the income traceability leading to improved tax collection.

The big gain for law and order is removal of cash in transit theft.

It would be weird if they didn't pursue this objective, since it solves so many problems.
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[trex]

I cannot see the point of keeping cash in the pocket or in the house for that matter. It's not any more real money than the money you can access online.
I particularly like the way paypal allow you to keep more or less as many currencies as you like, in one account. If only more banks operate this way.

 

[flecc]

I cannot see the point of keeping cash in the pocket

I never carry cash either, but do have a few banknotes at home for the rare occasion when I use a minicab. Our London buses no longer accept cash at all, only Oyster card or bank swipe card.

Of course people not carrying cash is a huge disadvantage for charity collectors and will ultimately get rid of the can rattlers.
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[shemozzle999]

Flecc, I agree that is their smoke screen they put out, but it is the fear that people still have the ability to bring the system to its knees by causing a run on the banks and that is the primary factor driving the introduction of a cashless society. They still do not have enough reserves to cover it.

Trex, how do you get to hold foreign currencies in your Paypal account all deposits into mine are converted into sterling? If there was negative interest rates they would have to charge you for holding your money otherwise they would go out of business.

 

[neptune]

The cashless society will never happen. It is easy to imagine that the black economy is run only by people from the lower levels of society. The truth is that corruption is more widespread the higher one looks in society. I believe that corruption is so widespread within Government and within the EU, that transparency will be the last thing they would vote for.

 

[oniontrololol]

if brit leaves the EU i probably lose my job

 

[derf]

if brit leaves the EU i probably lose my job

if brit leaves the EU my job probably looses me (brit needs me a lot more than I need it, and I don't fancy life amongst the xenophobes)

 

[trex]

if brit leaves the EU i probably lose my job

my children are employed by European companies.

I reckon there may be as many as 3 millions Brits working for European companies.

 

[gray198]

I'm worried about Aldi and Lidl shutting all their shops and moving back to Germany. That will push the price of food up. Or did I see a report that Aldi are aiming for 1000 stores. They don't seem to be worried whether we leave or not

 

[flecc]

I'm worried about Aldi and Lidl shutting all their shops and moving back to Germany. That will push the price of food up. Or did I see a report that Aldi are aiming for 1000 stores. They don't seem to be worried whether we leave or not

I'm sure they'd stay either way. There's already the difficulty for them of us not using the euro, so any additional differences aren't likely to concern them. In any case, nothing will change for at least the first two years while we seek a departure agreement.
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[gray198]

Flecc the fact that we are not using the Euro doesn't seem to have affected them adversely as they seem to be growing faster than anyone else in that sector. I guess we will never know how different things may have been had we been in the Euro project