Well known crypto author of several books, Andreas Antonopoulos has recently discussed the “global banking cartels”. At the Edmonds Center for the Arts in Seattle, the author of best-selling crypto guides “Mastering Bitcoin”, “Mastering Ethereum” and “Internet of Money” began the discussion with key highlights about the global banking cartel.
“What do you call it when a bunch of companies collude to set prices, fix markets, captured regulators, and bribe politicians?”.
His speech deeply concerned with the present“banking mechanism” where he outlines that people talk much about cartels in drugs and oil but bounce on banking which he calls “one of the largest cartels”. The discussion opens up during his “The Internet of Money” book’s series launch.
He referred the present regulatory measures as“ a system of immunity’. Antonopoulos gave an instance of the recent money laundering case which resulted in $881 million funds laundered via HSBC. According to him, regulators are acting as the “consumer protection” but if the penalty is lesser than the profit earned via money laundering process” this is a system of immunity, he said.
“In most cases, the fines issued by the regulators are less than the profits made from money laundering. If the penalty is less than what you earned doing the crime, then this is a system of immunity”.
Amoral Corporation and ‘EXIT’ from the Global Banking Cartel
Besides pointing out the regulatory authorities, he also said that the modern corporations are not immoral but amoral. He claimed that the firms are presenting facial recognition technology to the law enforcement and confidently gaining the huge profit margin. Sarcastically he caught stating that;
As a strategy to negate legal ramifications, if any global constitutions were violated, it would probably also incur a “terms of service” breach for the entity providing the services.
While concluding his talk, Antonopoulos pointed out the potential of peer to peer money and the decentralized economy. He said that;
“The baking cartel robbed us blind. They stripped the entire economy and had a mountain of fraud—but it was all ignored as they had to dump $10 trillion into quantitative easing” encouraging;
“We must starve the cartel of money, by exiting and using peer-to-peer money”.
In the end, all his statement faintly calls people to think about end-to-end and innovate a system that runs without permission. While concluding, he added that
“Until money breaks, the premium of liberty is the ability not to care about it”.