Posted on 09/24/2021 6:16:31 PM PDT by EBH
Now elites at the International Monetary Fund (IMF) have posted research on their site describing a social score used to rate your ability to apply for a loan.
In the not-too-distant future, your internet habits could help determine how much house you can buy and the rate on your next auto loan.
Sounds ridiculous? Right now, your credit score — that three-digit number that tells lenders how responsible you are — is based on simple financial information, like your payment history and debt level.
But research posted to the International Monetary Fund (IMF) website suggests companies will soon be looking at a lot more data to get an accurate picture of the risk you pose as a borrower…
…Lenders could soon use data from your browsing, search and shopping history to create a more accurate credit score, researchers say.
Much of that information is publicly accessible, while some might need to be provided to credit bureaus. Taken together, that data forms your “digital footprint.”
The working paper cites other studies showing that combining credit information and your digital footprint “improves loan default predictions.”
(Excerpt) Read more at thegatewaypundit.com ...
don't use 'traditional' internet...no credit for you either!
Go Galt. Stay out of debt. Starve the Beast.
Using scans of your ballots?
If this happens here, looks like you can say “welcome to Communism.”
For your intreset.
“Sounds ridiculous?”
Ridiculous isn’t even close to the right word for this kind of Orwellian creepiness.
How do they know who’s who on your so-called digital footprint? Maybe your kid is in the house playing Fortnite all the time on your internet connection. Are *you* then to be assumed a video-game addict who’s not working enough to pay your bills?
Don’t know, but Fakebook knows whether I am on my VPN or not...they still know it is me. Fakebook has the technology to track your entire internet use! I suspect the others do too. Google, Twitter etc.
Doesn't matter. The authorities have spoken.
Everybody get a VPN.
Start looking into encryption.
ping
ESG Score
Environment (better be green)
Social (better be pro social justice)
Government (are you a right wing extremist?)
Merrill Lynch and others already have it.
It’s called Social Credit Score. Toe the line or you’re screwed.
If you inherit a home, great. Meanwhile, renting instead of mortgaging is ensuring poverty for you and your descendents.
I can hear the question now: “Are you now or have you ever been a member of FreeRepublic.com?”
Good morning and welcome to the Saturday morning meeting of the Rolling Hills Homeowners Financing Association.
Financing is to be governed by our association rules by default.
And the lucky person who goes first is Bill Buyer.
Hi, I’m Bill Buyer, I need $310,000 for 305 Elm.
Bill, I like your employment history and income, put me down for $50,000 at 2.5%.
me too, $30,000 at 2.6%
I’m happy to bid $25,000 at 2.7%
....
The banks have lots of unhappy customers.
Interest rates need to keep up with Wal-Mart prices and property tax assessments.
Most lending risk is systemic.
They “fingerprint” your computer, monitor, and browser combined. Use firefox with addons that disable fingerprinting.
And always use a No Logging VPN, where they purposely do not log your IP address and where youngo from there. I use PIA.
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