Is the World Starting to Move to a Cashless Society?


Editor's Note:

Many people are concerned about a cashless society.  Some feel it is an unreasonable intrusion on personal liberty.  Some think it will make government more engaged in tracking one's spending and funds.    And then there are Christians who are very concerned that a cashless society will be used to force individuals to take the "Mark of the Beast".

My take?

I believe that governments and too big to fail banks are pushing to go cashless to prevent bank raids should their be a major world economic collapse or crash.  In American history the banking industry during the Great Depression could not seem to get on their feet from all the bank raids by depositors and bank holidays.  Wall Street Banks, per Dodd Frank, will not be bailed out when the next crisis happens; instead, their depositors and their savings will bail them out.

As you see governments and banks move more towards a cashless society, this is a sign of lack of confidence in the financial system.  It is also a good time to assess where you put your monies and assets.  Could we one morning wake up to an announcement that bank funds were seized for government debts as did Cyprus citizens experience?

cashless-society

The Cashless Society Cometh: European Nations Such As Sweden And Denmark Are ‘Eradicating Cash’

By Michael Snyder, on December 27th, 2015

Did you know that 95 percent of all retail sales in Sweden are cashless? And did you know that the government of Denmark has a stated goal of “eradicating cash” by the year 2030? All over the world, we are seeing a relentless march toward a cashless society, and nowhere is this more true than in northern Europe. In Sweden, hundreds of bank branches no longer accept or dispense cash, and thousands of ATM machines have been permanently removed. At this point, bills and coins only account for just 2 percent of the Swedish economy, and many stores no longer take cash at all. The notion of a truly “cashless society” was once considered to be science fiction, but now we are being told that it is “inevitable”, and authorities insist that it will enable them to thwart criminals, terrorists, drug runners, money launderers and tax evaders. But what will we give up in the process?

In Sweden, the transition to a cashless society is being enthusiastically embraced. The following is an excerpt from a New York Times article that was published on Saturday…

Parishioners text tithes to their churches. Homeless street vendors carry mobile credit-card readers. Even the Abba Museum, despite being a shrine to the 1970s pop group that wrote “Money, Money, Money,” considers cash so last-century that it does not accept bills and coins.

Few places are tilting toward a cashless future as quickly as Sweden, which has become hooked on the convenience of paying by app and plastic.

To me, giving money in church electronically seems so bizarre. But it is starting to happen here in the United States, and in Sweden some churches collect most of their tithes and offerings this way

During a recent Sunday service, the church’s bank account number was projected onto a large screen. Worshipers pulled out cellphones and tithed through an app called Swish, a payment system set up by Sweden’s biggest banks that is fast becoming a rival to cards.

Other congregants lined up at a special “Kollektomat” card machine, where they could transfer funds to various church operations. Last year, out of 20 million kronor in tithes collected, more than 85 percent came in by card or digital payment.

And of course it isn’t just Sweden that is rapidly transitioning to a cashless society. Over in Denmark, government officials have a goal “to completely do away with paper money” by the year 2030

Sweden is not the only country interested in eradicating cash. Its neighbor, Denmark, is also making great strides to lessen the circulation of banknotes in the country.

Two decades ago, roughly 80 percent of Danish citizens relied on hard cash while shopping. Fast forward to today, that figure has dropped dramatically to 25 percent.

We’re interested in getting rid of cash,” said Matas IT Director Thomas Grane. “The handling, security and everything else is expensive; so, definitely we want to push digital payments, and that’s of course why we introduced mobile payments to help this process.”

Eventually, establishments may soon have the right to reject cash- a practice that is common in Sweden. Government officials have set a 2030 deadline to completely do away with paper money.

Could you imagine a world where you couldn’t use cash for anything?

This is the direction things are going – especially in Europe.

As I have written about previously, cash transactions of more than 2,500 euros have already been banned in Spain, and France and Italy have both banned all cash transactions of more than 1,000 euros.

Little by little, cash is being eradicated, and what we have seen so far is just the beginning. 417 billion cashless transactions were conducted in 2014, and the final number for 2015 is projected to be much higher.

Banks like this change, because it enables them to make more money due to the fees that they collect from credit cards and debit cards. And governments like this change because electronic payments enable them to watch, track and monitor what we are all doing much more easily.

These days, very rarely does anyone object to what is happening. Instead, most of us just seem to accept that this change is “inevitable”, and we are being assured that it will be for the better. And no matter where in the world you go, the propaganda seems to be the same. For example, the following comes from an Australian news source

AND so we prepare to turn the page to fresh year — 2016, a watershed year in which Australia will accelerate towards becoming a genuine cashless society.

The cashless society will be a new world free of $1 and $2 coins, or $5 or $10 bank notes. A new world in which all commercial transactions, from buying an i-pad or a hamburger to playing the poker machines, purchasing a newspaper, paying household bills or picking up the dry-cleaning, will be paid for electronically.

And in that same article the readers are told that Australia will likely be “a fully cashless society” by 2022…

Research by Westpac Bank predicts Australia will be a fully cashless society by 2022 — just six years away. Already half of all commercial payments are now made electronically.

Even in some of the poorest areas on the entire globe we are seeing a move toward a cashless society. In 2015, banks in India made major progress on this front, and income tax rebates are being considered by the government as an incentive “to encourage people to move away from cash transactions“.

Would a truly cashless society reduce crime and make all of our lives much more efficient?

Maybe.

But what would we have to give up?

To me, America is supposed to be a place where we can go where we want and do what we want without the government constantly monitoring us. If people choose to use cashless forms of payment that is one thing, but if we are all required to go to such a system I fear that it could result in the loss of tremendous amounts of freedom and liberty.

And it is all too easy to imagine a world where a government-sponsored form of “identification” would be required to use any form of electronic payment. This would give the government complete control over who could use “the system” and who could not. The potential for various forms of coercion and tyranny in such a scenario is obvious.

What would you do if you could not buy, sell, get a job or open a bank account without proper “identification” someday? What you simply give in to whatever the government was demanding of you at the time even if it went against your fundamental beliefs?

That is certainly something to think about.

Many will cheer as the world makes a rapid transition to a cashless society, but I will not. I believe that a truly cashless system would open the door for great evil, and I don’t want any part of it.

What about you?

Would you welcome a cashless society?

Michael-Snyder-Bio-American-Dream

Destructive and Crazy Says Steve Forbes About Cyprus Bank Levy

Destructive and Crazy Says Steve Forbes About Cyprus Bank Levy

I am not a Steve Forbes fan.  Nevertheless, I try to be objective and give credit where it is due.  The Cyprus Bank Levy was an insane idea by the EU, Merkel, banksters or whoever was behind it.

The public is already on edge about the economy.  There are governmental actions taking place that despite all the alternative reasons being given by government spokesmen, could be arguable that preparation is occurring for a possible economic meltdown: Excessive government purchase of  hollowed point bullets with enough of them to shoot every citizen several times, NDAA, buying large stockpiles of freeze dried foods, Bernake’s open spigot quantitative easing, jumping on the unfortunate Sandy Hook situation and going on a massive offensive to take as many guns as they can out of citizens’ hands, etc.

So people are already nervous.  And whether the banking and financial industry likes it or not, the public’s trust of them continues southward.  Most Americans are bitter, upset or dismayed about the 2008 Wall Street bailout to pay for the wrongful or negligent conduct of others in which we had no role.

Europeans are saying similar things about their government and the European Economic Community.

So why in the world would you fast and quietly try to impose up to a 10% levy on the public’s private bank accounts?  They’re already suffering for the sins of another, the banking, financial and government conduct. 

Bernake and co-horts can tell you that nothing like this can happen with our financial system.  They tout that since instituting the FDIC insurance no one has lost any money.

One of the problems that they have with this argument is that we are in uncharted territory.  What went on in the past is not parallel today to the unethical derivatives, credit default swaps and liar loans.  The amount of world debt was not the astronomical level it is today to the worlds’s GDP.  Then we were not as integrated in the “world economy” as we are now with the decades of pushing towards globalism. 

Moreover, think what happened to the MF Global customers.  Jon Corzine and minions took MF Global depositors’ monies out of their accounts and gave it to JP Morgan.  These customers were supposedly insured by the CFTC.  However, the CFTC has failed to make good on the situation and customers had to hire attorneys to go to bankruptcy court.  Even though their money was stolen from their accounts, they will be lucky if they get 25 cents on the dollar.  (I hope I am wrong on this as what was done to them was so outrageous!)  Their monies have not been returned or reimbursed in full.

Then there was the “glitch” that JP Morgan had this week that zeroed out their customer accounts for about two hours.  It shows us how vulnerable we all are in this electronic banking age.

Which situation do you think more relevant to the times? Do you have an apple being compared to an orange?

If you need to keep your monies at a banking institution, do you think it would be safer to have those accounts at more local banks (who did not get bailed out, engage in irresponsible derivatives, credit default swaps) or credit unions than to keep in those “too big to fail” banks that are one of the primary causes of the 2008 financial meltdown?

So share your thoughts below…Do you think that in our future is a Cyprus Bank “Levy” or wealth tax moment?

Think about it!—No Name Attorney

Steve Forbes: Cyprus Bank Levy Is ‘Crazy’ and ‘Destructive’

Wednesday, 20 Mar 2013 07:58 AM

By Michelle Smith of Moneynews.com

Imposing a levy on bank deposits as a condition for a bailout is “crazy” and “destructive,” writes Steve Forbes, chairman and editor-in-chief of Forbes Media, warning that this idea could be disastrous for everyone.

Cyprus is seeking 10 billion euros ($12.9 billions) for fiscal needs, bank restructuring and to provide support for the nation’s economy, according to a statement from the Cypriot finance ministry.

The nation actually needs a bailout of 17 billion euros CNN says the Financial Times revealed. But a group of potential creditor nations have proposed a one-time levy on bank deposits to reduce the nation’s need for outside funding.

Essentially what was proposed was to take a certain percentage of money from the accounts of people who have made deposits in good faith, a move that many have likened to stealing.

Forbes noted that the seizing of peoples’ bank deposits is the kind of thing one would expect from “Argentina or other kleptocractic third-world governments.”

The germane fact is that it was Western Europe, supposedly a strong believer in the rule of law, that engaged in this Hugo Chavez-like move, he writes.

Forbes warns that having such an idea come from Europe is disastrous in part because it affects the thoughts of people elsewhere. If Europeans leaders could come up with such an idea, an American leader, such as President Barack Obama, could propose a measure such as raiding 401(k)s to help fund Social Security, says Forbes. And in a panic Congress could jump on board.

Furthermore, Forbes says this bank levy business guarantees that there will be disastrous runs on banks and money market funds when we have another financial crisis. And he is sure that another crisis lies ahead because authorities really don’t know what they are doing on the economic front, he added.

Don’t think the US would be immune in a crisis, Forbes said. When fears rise, people clutch cash first as trust and faith in authority melts away.

Read More Here…