Thursday, August 24, 2017

A sinister war on our right to hold cash...

An operation that began as a seemingly obscure academic discussion three years ago is now becoming a full-blown propaganda campaign by some of the most powerful institutions in the industrialized world. This is what rightly should be termed the War on Cash. Like the War on Terror, the War on Cancer or the War on Drugs, its true agenda is sinister and opaque. If we are foolish enough to swallow the propaganda for complete elimination of cash in favor of pure digital bank money, we can pretty much kiss our remaining autonomy and privacy goodbye. George Orwell’s 1984 will be here on steroids.

Let me be clear. Here we discuss not various block-chain digital technologies, so-called crypto-currencies. We are not addressing private payment systems such as China’s WeChat. Nor do we discuss e-banking or use of bank credit cards such as Visa or Master Card or others. These are of an entirely different quality from the goal of the ongoing sinister war on cash. They are all private services not state.

What we are discussing is a plot, and it is a plot, by leading central banks, select governments, the International Monetary Fund in collusion with major international banks to force citizens—in other words, us!—to give up holding cash or using it to pay for purchases. Instead we would be forced to use digital bank credits. The difference, subtle though it may at first seem, is huge. As in India following the mad Modi US-inspired war on cash late in 2016, citizens would forever lose their personal freedom to decide how to pay or their privacy in terms of money. If I want to buy a car and pay cash to avoid bank interest charges, I cannot. My bank will limit the amount of digital money I can withdraw on any given day. If I want to stay in a nice hotel to celebrate a special day and pay cash for reasons of privacy, not possible. But this is just the surface. Full story...

Related posts:
  1. Cashless society alert: Visa will be giving up to $500,000 to...
  2. Cashless transactions a thing of past in Andra Pradesh...
  3. Australia seeks to remove $100 note from circulation...
  4. The countries where cash is on the verge of extinction...
  5. They are after your cash (and if this happens they will get it)
  6. More people keeping cash outside banks...
  7. Why we should fear a cashless world...
  8. But who is the governments’ strongest ally in their War on Cash?

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