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Oh, well then, what happens to credit cards? Those are underwritten by banks.. will the government then control, own and operate these as well?
What's next? The government will dictate to you how much you're allowed to take out of your account and also monitor every deposit and want to know its source.. Will they freeze your funds at will whenever they feel like it.. perhaps create yet another tax and take it directly from your bank account...
Oh, maybe it'll just become a cashless society someday, where the government can control every single penny!!
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