It sure does. eMoney puts the government and banking in complete control of your affairs. Using the façade of negative interest rates and making things harder for crooks, this allows the government and big business to put their own lock on every citizen.
The tentacles will reach beyond the border.
Are you an American living and working abroad? eMoney tracking makes it easier for Uncle Sam and other to follow you. Without due process or conforming legislation, they can freeze or even empty your out of country accounts. Better to beg forgiveness than ask permission has been used for many years by govt, legal and police agencies. Judges accept that as an argument in most jurisdictions.
While progress continues to erode individual's right, this is a huge step toward total control, IMV. Money makes the world go round.
It also sets up a lucrative market for counterfeit eMoney cards and accounts. The criminal element will eat this up.
