Quote:
Originally Posted by johnnyloadproductions
I think this is actually a really good policy, not just to stop terrorism.
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It has ZERO to do with terrorism and will have no impact whatsoever on terrorism. How much do you think terrorism has been reduced by all the powers the NSA and GCHQ now have to hack into your personal data? Zero.
There is a movement towards curbing liberties and privacy all over the world and terrorism is being used as the excuse which governments know will allow them to gain the support of the people because the masses want to know their government is there to protect them (which is total bullshit).
The EU will get this data but bare in mind something. The Chinese currently (Yuan or RMB) is soon to be added to the SDR (as a reserve currency) and China is working on its own version of SWIFT (I think its called CIPS) and one of the policy reasons for them doing this was to increase transaction privacy.
So SWIFT may be observed but there will be more limited access to CIPS transactions when it goes live.
Exclusive: China's international payments system ready, could launch by end-2015 - sources | Reuters