I’ve just found a quote from an old Reader’s Digest – dating from 1976. It’s both ‘quaint’ (because of the speed with which things have changed) and accurate.
‘In this new, totally electronic age, the enforcement of financial obligations will present few difficulties, since failure to pay up could be disastrous. The culprit might even have to undergo what EFT men call ‘plastic surgery’ – the cutting off of his bank cards. Economically speaking this would make him a non-person."
Well, we haven’t quite got to this 1984 scenario as yet, but the options are certainly open to bankers and other financial
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