Bank on keeping yourself informed

sIr, – I read with sadness the correspondence from robert ross and Iain Thompson (Letters, December 9). They illustrate a very common naivety, shared among the public, as to why bank branches are being closed. There is a general assumption that the banks are closing branches as an economic measure, in order to save money. Not so.

There is a worldwide agenda to introduce plastic cards and phase out cash, thus forcing everyone to put all financial transactions through the banking system. Later, this will be facilitated by the introduction of an rFID chip, resulting in bank branches becoming redundant.

All savings will have to be held by the bank and eventually, cash will cease to exist. Bank closures are a means of pre-conditioning the public to an up and coming situation.

Far-fetched? No.

Earlier this year India, along with other countries, began moving in this direction. Overnight, without consultation or forewarning, the Indian government cancelled cash by removing the ‘legal tender’ status from all cash transactions.

Many Indian people, having no bank accounts, woke up to find that they had no means of conducting business and their entire life savings held as cash had been wiped out.

Be cautious, become better informed.

Graham Short, Muir of Ord,

Inverness-shire