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August 22, 2022
Bank now refusing to issue you a loan if you buy a gas-powered car, but will if you make a 'better' decision
I'm not sure if the left is still calling the idea of a social credit system targeting individuals a conspiracy theory or not. China has one to control business, but the idea of one targeting citizens in preposterous. Even though, in Canada, the government stepped in to remove citizens’ abilities to bank. Numerous private organizations and companies have begun censoring everything having to do with Russia. Visa and Mastercard have stopped authorizing purchases to, from, or within Russia. And in Australia, a bank won't loan you money to buy a car if you buy a gas-powered car.
Starting in 2025, Bank Australia will no longer give you a loan if you buy a car that runs on gasoline. A much more expensive electric vehicle? Of course! That's the "right" decision. But not gas powered. Bank Australia Chief Impact Officer--yes, a "Chief Impact Officer" is apparently a thing now--Sasha Courville said in a statement that "by ceasing car loans for new fossil fuel vehicles, we are sending a signal to the Australian market."
True, this is only one bank making an alleged "business" decision for now. But much like the Australia lockdowns, Americans need to pay attention because leftists in this country will pull the same Marxist crap if they are ever allowed to.
This bank, I'm sure with the backing of the government, wants to control behavior. What about when it's your bank? Or your credit card company? What if your bank decides you can't use your credit cards to buy meat in the name of "sending a signal" to the market? Or blocks you from buying baby products because someone decided you are only allowed to have two kids and you have three?
In a perfect free-market world, a rival bank would start offering loans stating that they have no intention of controlling your decisions and how you live your life. I kinda don't see that happening here.
Brodigan is Grand Poobah of this here website and when he isn't writing words about things enjoys day drinking, pro-wrestling, and country music. You can find him on the Twitter too.
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