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Is The Electronic Banking Conspiracy Theory Real?

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Is The Electronic Banking Conspiracy Theory Real?
According to some conspiracy theorists, electronic banking exists as part of a plan to send the world spiraling into poverty, turning all but a secret group into slaves. As countries around the world struggle in the midst of recessions, it’s easy to believe the theory.

The theory is broken down into phases (1). The first of which is the introduction of electronic banking, although some argue that the first phase actually dates back to the 17th century, when paper money was first used in Europe.

Over the years, we become reliant on technology and electronic banking, from credit cards to Internet spending. The final phase is when the Secret Group simultaneously erases all bank accounts, leaving us with nothing and them with everything.

With nothing left, there will be chaos with theorists suggesting that we will be forced into slavery while, at the same time, civilization and the world is destroyed.

Who Is the Secret Group?

The identity of the Secret Group is not known. Most suggestions boil down to two groups of people; the banks and the wealthy and powerful.

But with no money and being faced with disgruntled masses, the wealthy will have no one to buy their products and the powerful will face revolution and retribution.

Banks certainly have nothing to gain from such a plot. They will have no purpose once the worldwide blackout has erased all of our accounts, and may cease to exist.

Supposedly, the real motivation for the Secret Group is to ‘reintroduce slavery’ into the modern world (2). The use of this term is uneducated. Slavery is still a problem, with an estimated 29.8 million (as of 2013) hidden slaves worldwide (3).

Also, there are 7 billion people on this planet, only a small portion of which would make up this Secret Group. Poverty already reigns, there is no need for any group to decimate our bank accounts.

online banking

The Reality

Experts, bankers and professionals refuse to waste their time debunking this theory (4), which could be taken either way.

The idea that this Secret Group’s plan started during the 17th century does not hold up to scrutiny. Paper money was actually first used in Ancient China, AD 618-907. When too many pieces were printed and the money lost its value, the currency was scrapped.

This didn’t stop the Bank of Stockholm creating paper money 500 years later. A similar thing happened and chaos ensued, with the creator being imprisoned. He died shortly afterwards (5).

This history lesson might be where this conspiracy originated, and it is plausible that the banks will collapse again. In fact, a number of European countries are already in the midst of recessions, with banks needing to be saved by their governments. This suggests more of a chaotic style and stubborn approach rather than a plot for one group to reign over the world.

Many sources do not report citations or evidence to back up their ominous theory. Randy Lavello wrote an essay on the American Patriot Friends Network stating that four presidents, Lincoln, Kennedy, Garfield and Jackson, tried to fight the banks. All of them were assassinated, except for Jackson whose attempt was foiled by two jammed guns (6). Lavello’s essay contains no citation or evidence to support this conspiracy.

What seems much more likely is that humans enjoy making simple things complicated. Electronic money does not exist to bring chaos and the end of days. It has been developed in response to e-marketing and e-commerce and as such is all about money, as so much in the world is. Electronic money may indeed bring us chaos and panic, but it won’t be by design.

References & Image Credits:
(1) Propaganda Critic
(2) Investigation Discovery
(3) Washington Post
(4) Investigation Discovery: 10 Conspiracy Theories
(5) History Today
(6) APFN
(7) Bankenverband – Bundesverband deutscher Banken via photopin cc
(8) fotografirox via photopin cc

Originally published on TopSecretWriters.com

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Ryan is the founder of Top Secret Writers. He is an IT analyst, blogger, journalist, and a researcher for the truth behind strange stories.
Lori is TSW's editor. Freelance writer and editor for over 17 years, she loves to read and loves fringe science and conspiracy theory.

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Gabrielle is a journalist who finds strange stories the media misses, and enlightens readers about news they never knew existed.
Sally is TSW’s health/environmental expert. As a blogger/organic gardener, she’s investigates critical environmental issues.
Mark Dorr grew up the son of a treasure hunter. His experiences led to working internationally in some surprising situations!
Mark R. Whittington, from Houston, Texas, frequently writes on space, science, political commentary and political culture.

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