I went along to a commercial bank Thursday past to pay my American Express bill. On approaching the teller I was told I had to present my complete statement as the Central Bank has mandated that the bank ensure that individuals are not making a mortgage payment.
My immediate reaction was to ask to see a copy of the regulation. Regretfully it was not available but I still had to present my statement.
Of course even if people have a foreign mortgage payment what difference would it make how they spend their own money?
It all reminded me of the extreme the Government of Norway went to with investigating "Jarl Syvertsen, a 59-year-old disabled Norwegian man, who purchased a PC, TVs, and washing machines for 80,000 kroner (roughly US$13,000) which he paid in cash." More here… https://bit.ly/2uGP0Qy How dare he spend his cash instead of using trackable credit cards or the like. And he was reported on by the store no less. Not unlike banks are forced to report when deposits of $10,0000 or more in cash are made and now if one has a foreign mortgage payment.
The same applies with Government forcing the burden of tax collection on the business community extracting more and more information. Having given in to this, the burden and regulations piled on will only worsen and the Government will expand its purview into citizens private financial business like other countries.
So what gives the state the right to prevent or even track where people spend or even invest their money? As long as they don't harm other people what's the big deal? I submit all this is nothing more than a lack of willingness to defend the right to privacy by the taxpayer and business community to the incremental expansion of the state.
Not resisting this expansion and even encouraging the government to expand control of every aspect of our lives has happened before in history and it wasn't pretty.
Sooner, rather than late we need to take a stand. What is ours, is ours and draw a line in the sand where there is a limit to taxation, regulations and the expanding role the state is assuming.
Yes, the state's mission creep is well, creepy.