FINANCIAL CONTROLccc
There was discussion of money and banking. One statement was, "Inflation is infinite. You can put an infinite number of zeros after any number and put the decimals points wherever you want", as an indication that inflation is a tool of the controllers. Money would become predominately credit. It was already. Money is primarily a credit thing but exchange of money would be not cash or palpable things but electronic credit signal. People would carry money only in very small amounts for things like chewing gum and candy bars. Any purchase of any significant amount would be done electronically. Earnings would be electronically entered into your account. It would be a single banking system. It may have the appearance of being more than one but ultimately and basically it would be one single banking system, so that when you got paid your pay would be entered for you into your account balance and then when you purchased anything at the point of purchase it would be deducted from your account balance and you would actually carry nothing with you. Also computer records can be kept on whatever it was you purchased so that if you were purchasing too much of any particular item and some official wanted to know what you were doing with your money they could go back and review your purchases and determine what you were buying.
There was a statement that any purchase of significant size like an automobile, bicycle, a refrigerator, a radio or television or whatever might have some sort of identification on it so it could be traced, so that very quickly anything which was either given away or stolen - whatever - authorities would be able to establish who purchased it and when. Computers would allow this to happen. The ability to save would be greatly curtailed. People would just not be able to save any considerable degree of wealth. There was some statement of recognition that wealth represents power and wealth in the hands of a lot of people is not good for the people in charge so if you save too much you might be taxed. The more you save the higher rate of tax on your savings so your savings really could never get very far. And also if you began to show a pattern of saving too much you might have your pay cut. We would say, "Well, your saving instead of spending. You really don't need all that money."
That was basically the idea being to prevent people from accumulating any wealth which might have long range disruptive influence on the system. People would be encouraged to use credit to borrow and then also be encouraged to renege on their debt so they would destroy their own credit. The idea here is that, again, if you're too stupid to handle credit wisely, this gives the authorities the opportunity to come down hard on you once you've shot your credit. Electronic payments initially would all be based on different kinds of Creditt cardds which were already in use in 1969 to some extent. Not as much as now, but people would have Creditt cardds with the electronic strip on it and once they got used to that then it would be pointed out the advantage of having all of that combined into a single CC, serving a single monetary system and then they won't have to carry around all that plastic.