Transcript of the above video: 

As the title of this video suggests, we are discussing Thailand's banking. I made a number of videos recently where I am basically just excoriating the fact that Thailand is just going bonkers for ID and totalitarianism in its banking sector and I would argue it's a bad move.

What made Thailand a really dynamic economy was privacy of financial transactions, freedom to do business as you like, ability to make capital transfers within the Kingdom in a very quick manner so as to settle debts and to make investments. That's what builds an entrepreneurial society. Totalitarian surveillance doesn't. In fact it ensures quite the opposite. Take a look at the history of the USSR. It fell apart largely because its financial and banking system just became too overburdened and couldn't operate anymore. Meanwhile it was anathema to be any kind of an entrepreneur and it was constantly surveilled whether you were being one. It killed the spirit of enterprise. 

I think the same thing could be happening within the international banking system generally and for no good reason, and I'm sick of hearing that "oh, oh! If you're not doing anything wrong, why do you care?" Because I wasn't doing anything wrong and then you said during COVID, being sick made me have to go into house arrest. I am tired of this. People do have a right to privacy in their transactions; they have a right to do business with who they see fit. Yes if they commit crimes then punish them for committing crimes, but don't use things like money laundering or there are nefarious actors out there - that's collective punishment. If you've got evidence against somebody who's doing something wrong within the Banking System, indict them, try them and convict them. I know indictment isn't quite the right word in Thailand, but again go after them using legal due process. Stop collectively punishing all of us who just want to do some legitimate banking.