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So as the title of this video suggests, we are discussing the so-called digital economy. I urge those who have watched this channel for some time to remember when they tried to throw us into a digital economy before and it wasn't based on any like advice and consent of the people of Thailand by any stretch of the imagination. No, they just came into power and said "hey we are going to put the country into a tremendous amount of debt and in exchange, you are going to go on to digital rations that we give you that you can only spend on certain things, in certain places, at certain times.” It wasn't money by any stretch of the, if anything they were telling the nation you have got to go into a bunch of debt so we can put you into a totalitarian super surveillance state, but you get to pay for it, and we are going to tell you how great it is and you need to come to us saying, 'thank you, please', it was nonsensical.

That said, on it goes, after reading a recent article in the Bangkok Post, bangkokpost.com, the article is titled: Finance Minister says low inflation, strong Baht hinder growth. Again, inflation is a tax; it's a hidden tax and it is pulled off by Central Bankers is basically who does it, okay. Anybody that advocates for higher inflation, I don't know what to tell that person, that's nonsensical on so many levels. It's never going to be good for the rank-and-file Thai especially at the lowest end of the socio-economic strata. Then meanwhile, at the same time to say, "oh we don't want a strong national currency"! What? In any event. Quoting: "Mr. Pichai.." - and this is the Finance Minister - quoting: "..said the Government is promoting the digital economy with virtual bank licensing slated for approval in the coming year. These Banks do not require physical branches to provide Financial Services to people." Yeah, it makes you easier to un-bank, if you cannot go to an office and actually talk to a human; that is the point of this, okay. The point of this is everything becomes digitized, there's no accountability; you can't walk in and look someone in the eye and say, "where is my money?" or "why are you refusing me service?" because that's uncomfortable and none of these little totalitarian bureaucrats want to be uncomfortable for a second longer than they have to be. I've seen this in the United States, it's pernicious. It's “we never have to answer for anything, and you should say thank you for our services." This digital banking is nonsense. You are trying like the dickens to attenuate people's notions of money, so you can just run it all the time and do whatever you want with money. Well guess what? None of us want that. If you didn't get that from the rejection in total, the rejection of the notion of digital money and the digital wallet, what makes you think we are going to like “digital” banking where we can't ever actually go interact with somebody? Quoting further: "The interest rates are determined based on the risk profile of each customer." Oh really? So, is that anything like a social credit score? It's going to be like a social risk score? Who came up with that? Oh, the CCP in Communist China. Quoting further: "Rather than applying a uniform rate for everyone, he said" - you mean well first of all, why are Central Bank setting interest rates to begin with? It's the one thing in a free economy, the time value of money that should be haggled out, down in the trenches, amongst the capitalists, amongst the people that need the money and that want to put the money to the most productive use. But oh no, much like the FED, all Central Banks have stepped in and said, "well no, we can't have that happen, so we're just going to go ahead and set that." Now, under the guise of setting interest rates, they are going to basically through their digital banking system, analyze and scrutinize each individual Thai for their ‘risks”? Sounds an awful lot like social credit to me; sounds like they're trying to roll it out under the guise of banking services in a digital context. Meanwhile, Keynesianism is just nonsense, okay? This notion that we can digitally control stuff and inject stimulus and pull-out money and do this and that, that's command economics. I heard something really, really on point from a guy named Alistair McLeod. He has his own Substack, you can look him up - he's also I think over on a place called Gold Money - he was talking about the Russian Economy. He once said, well the Russians went through Marxism, and they went through Marxism for 70 plus years - Marxist-Leninism - they never were infected by this notion of Keynesianism. I have said it before and I'll say it again. Stalin once said that "Communism was Socialism in a hurry". Well I would say "Keynesianism is Socialism by subterfuge", because they use the sort of cloak of banking and say oh well we're here to enhance capitalism is sort of the implied message, when in reality what's going on is they are trying to control everything, just like in a command economy, they're just doing it through the banking functions, okay. That's what scares me so much about this. This is why I hate this; this is why this last 14 months or so 16, 18 months now, whatever we're at, ever since this "core coalition" party came in, which bear in mind, for a decade we saw none of this World Economic Forum stuff here in Thailand period. None of it was here. All the discussion of economics was just standard commonsensical economic discussion, and then this crew comes in and all we've heard ever since is neo-Keynesianism, nearly modern monetary theory kind of stuff, digital money, digital banking. We have got to go into a tremendous amount of debt; we have to inject stimulus at a time when quite frankly Thailand's economy didn't need it, and then they used that as a pretext to then say, "well we have got to go into more debt to stimulate more." What does that do to the country? You can see it. The proof is in the pudding. Look at the West, they're moribund economically and what do they do? They go for more debt? It's like a heroin addict, it's terrible. Again, OECD being rolled out. Didn't see any of that for a decade. Now they're talking about doing all this, which again as we have discussed another video, we will align your laws and your banking system to ours, so that then we can extract wealth and “loan” it in foreign aid that never gets paid back, but we the people here in Thailand will be on the hook for that debt until time immemorial. This is the kind of thing they are trying to impose on Thailand through this notion of "Digital Economy", and - there are good sides to technology. I'm not anti-technology. What I'm anti is this technocratic usage of technology to control Thailand and put her into a detrimental position. 

That said, quoting further: "Mr. Pichai said the digital economy improves the flow of the financial system, preventing it from being blocked up." What kind of nonsense is that? The flow of the system! By the way, shouldn't it be a little blocked out because isn't that “efficient flow” exactly what led to the draining of capital from Thailand in 1997 which put this country on its back and damn near destroyed it economically?

I don't see the point of any of this digital economy stuff from the context that they are rolling it out. It all seems to be to me totalitarianism dressed up as efficiency, it's technocratic but it's technocratic insofar as it decreases accountability, decreases actually efficiency in terms of government sector work, and again, to repeat, nobody's accountable for it because it's just "oh it's the online system" - we just get to blame it on the online system, that's how it's going to work. Honestly Thailand, I really, really hope that cooler heads prevail in all of this talk about a digital economy.