Our ruling class would like a cashless society because it would enhance their own advantages.
Keep a close watch on this idea of doing away with cash. The more The-Powers-That-Be discuss it openly, the greater the impending danger to your savings, and your freedom. This proposal is a massive, vicious assault upon the economic prosperity and liberty of every one of us outside the political power structure.
Here’s an example recently published at Bloomberg.com by Willem Buiter: “Citi Economist Says It Might Be Time to Abolish Cash.”
Our forefathers were consummate fools to put a great deal of monetary power in the hands of Central Bankers, but giving those bankers total control by abolishing cash would be the death-knell to liberty, everywhere.
Instead of abolishing cash we should wise up and banish Keynesian economic insanity. We should put to death the elite-controlled, fractional-reserve Central Banking system that is robbing the world blind and putting us all in mortal peril.
Money in the hands of the People brings liberty. Economics completely controlled by the elite will be the greatest enginery of slavery in world history. It’s a perverse disfiguring of the old “golden rule” that he who holds the gold makes the rules. Do away with cash and the economic powers will hold all the Aces in the deck.
Perhaps you remember when there was real incentive to put money away in a savings account—the bank paid you a reasonable rate of interest; you were rewarded for saving. Today, bankers in Europe are increasingly charging major clients who put money in the bank—and those negative interest rates are spreading to more and more of the system.
Instead of the bank paying you for holding your money, they now want to charge you for the “privilege.” Leaving people with the ability to hold cash deprives them of the power they so diabolically crave. Hence, this conversation.
The current system already steals from us, drip-by-drip, through “targeted inflation rates” (the real reason it’s harder and harder to pay for food and other necessities). Saying we should have two percent inflation is essentially saying they’re going to steal more than ten percent of your buying-power every five years (and the reality is that it’s much worse, given the other tricks in their bag).
Instead of going all-in on this criminality, we need to scuttle the entire immoral system.
Do not be fooled. This is not Capitalism. This is not a Free Market. This is tyranny in the making. Don’t buy the monetary “snake oil” the power-brokers will pour out to buttress their idea (it’ll be so much safer… no one can break in, or hold you up and steal your cash… it will hamstring illegal trade in drugs and weapons… yada, yada, yada); it’s another Gruberism (if you like your doctor, you can keep your doctor; Obamacare will be debated in open meetings on C-SPAN—yeah, we see how that worked out).
If a proposal is made to phase out cash, the People need to raise the greatest opposition in the history of the Republic. Don’t be surprised if it’s floated in the midst of a future economic crisis, and said to be the “only way” to heal the system. That will be a massive lie; don’t fall for it!
We need more money and measures of wealth in our own hands, not fewer. The idea of banishing cash is only good for bankers and politicians, and it is horrendous for the average citizen. Just say no!
P.S. I’m compelled to add: The discussion here has ZERO to do with ideas derived from the Bible about a “cashless society”—this is economics and history, pure and simple. Willem Buiter’s suggestion is, indeed, from the Pit of Hell, but I don’t believe it’s a matter of prophecy.