Unbanking vs. Underbanking: How to Break Up with the Financial System | The Organic Prepper

Breaking up is hard to do, especially when it is with a tracking service like a financial institution.  Sometimes you can make a clean break and other times you have to remain “just friends”.

The US government actually has a name for people who have no bank accounts – they call these folks “the unbanked”.  The FDIC defines the unbanked as “those without an account at a bank or other financial institution and are considered to be outside the mainstream for one reason or another.”  Another term is “the underbanked” – “people or businesses that have poor access to mainstream financial services normally offered by retail banks. The underbanked can be characterized by a strong reliance on non-traditional forms of finance and micro-finance often associated with disadvantaged and the poor, such as check cashers, loan sharks and pawnbrokers.Continue reading

Roberts’ Rules of Meddling | Reason.com

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Last week supporters and opponents of the Patient Protection and Affordable Care Act anxiously awaited the Supreme Court’s ruling on the law’s individual health insurance mandate. Imagine their surprise when the Court announced, in a majority opinion by Chief Justice John Roberts, that there is no individual health insurance mandate.

Rather than a “penalty” imposed on anyone who “fails to comply” with the “requirement to maintain minimum essential coverage,” which is how the law itself describes the policy, Roberts perceived a “tax” that hinges on whether one follows the government’s totally nonmandatory guidelines regarding health insurance. This implausible relabeling of reality was Roberts’ desperate attempt to uphold the provision formerly known as a mandate without endorsing a boundless view of Congress’ power to regulate interstate commerce. Instead he endorsed a boundless view of Congress’ tax power that could prove even more dangerous to liberty… via Reason.com.