http://prophecyupdate.blogspot.com/2015/05/central-control-un-and-coming-cashless.html
Posted on 12/28/2015 3:11:50 PM PST by Chickensoup
STAFF NEWS & ANALYSIS Cashless Societies: How Realistic? By Daily Bell Staff - December 28, 2015
In Sweden, a Cash-Free Future Nears ... 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. – New York Times
Dominant Social Theme: Remove analog money ASAP.
Free-Market Analysis: Sweden is being touted as the wave of the future as regards money, but perhaps not.
When something is profiled in The New York Times, as the "new" cashless Sweden just was, we need to consider whether the trend is subject to change or is not so powerful as we are being led to believe.
One of the problems with seeing Sweden as a pioneer is that its population is fairly cohesive. In fact, Swedes constitute a good example of the tribes we often refer to in Europe. Europe is full of tribes. The French are notoriously tribal and it strikes us that the British fought two world wars to shatter Germanic tribal unity.
Years ago, we reported regularly on what would happen when "Europe" stopped being of benefit to the tribes. Because it has been disguised by rhetoric, people often don't understand why the tribes gave up so much including their ancient currencies to join Europe.
In fact, they were often bribed by pots of EU money that poured into the government to adjust unallowable deficits. The top elites pocketed this money and then went to work campaigning for EU unity. Once the EU agenda triumphed, those in power slipped away with the money and the larger population was stuck with an evolving authoritarian empire.
It was inevitable that the tribes, once lulled by good times and cash infusions, would begin to resent an era of "austerity" and impoverishment. What we didn't anticipate was that the European elites had an answer: Organize a mass Islamic migration (apparently this is what's going on) that would cause confusion within Europe's tribal countries and focus resentment away from Brussels and the monetary system and toward "Islamification."
It is true we didn't anticipate this breathtaking attempt at cultural reshaping but otherwise events are unfolding much as we expected. Sweden, though the Times article doesn't note it, is reacting much as we anticipated. While the Swedish intelligentsia has portrayed itself as shocked and dismayed, the "far right" has made enormous political strides in the country. Anti-immigration forces now reportedly support the country's third largest party.
The Times predictably ignores the political trends, however. It burbles on about Sweden's "tech forwardness" and the "personal safety" that a cashless society offers.
This tech-forward country, home to the music streaming service Spotify and the maker of the Candy Crush mobile games, has been lured by the innovations that make digital payments easier. It is also a practical matter, as many of the country's banks no longer accept or dispense cash. At the Abba Museum, "we don't want to be behind the times by taking cash while cash is dying out," said Bjorn Ulvaeus, a former Abba member ...
Advocates like Mr. Ulvaeus cite personal safety as a reason that countries should go cash-free. He switched to using only card and electronic payments after his son's Stockholm apartment was burglarized twice several years ago. "There was such a feeling of insecurity," said Mr. Ulvaeus, who carries no cash at all. "It made me think: What would happen if this was a cashless society, and the robbers couldn't sell what they stole?"
Of course, this is hard to fathom. Ulvaeus may feel safer in his apartment but someday hackers may clean out his bank account or hijack one of his credit cards. Physical crime may drop even as cybercrime rises.
For some critics of the "cashless society," the reasons it is evolving are considerably more mundane than "progress" or "technology." It is the lower bound that is stiffening determination. As financial institutions are increasingly forced toward the "zero bound" by the failure of monopoly central banking, less-than-zero rates are being contemplated. And what's stopping the program is cash.
If you have the choice between storing your money at a bank – and losing a chunk of it every month to negative rates – and keeping your funds in cash ... well, cash is bound to win. It's the reason Citibank's chief economist not so long ago called for a "ban" on cash.
Glenn Beck has been journeying in Sweden and through a third party is providing updates on his travels. A recent report contained the following information:
Glenn said Sweden is now at a tipping point where the Swedish people will be the minority within the next 10-12 years. "They're currently being taught that there is no Swedish culture — that's what they're teaching their students — there is no inherent Swedish culture," Glenn said ... People are begging their governments, saying, "You don't understand, fascism is coming because you won't listen to the people."
This is exactly the point. One can speculate, as we have, that the social chaos and resultant authoritarian political movements are exactly what those in real power desire and expect. But such an evolution does not necessarily bode well for an evolving cashless society.
This is what the Times article misses. Restrict our observations to Sweden and we can surely suggest that if the political climate continues to fracture the current Swedish consensus, many Swedes may rethink their enthusiasm for government/corporate control over digital money.
In fact, while we don't expect Times writers to understand this, basic economics may cause the cashless society to founder. If one accepts that the zero-bound is a big reason for digital commerce, then people will gravitate toward cash simply to avoid negative interest rates.
No matter what proponents of the cashless society mandate, competition between negative interest rates and neutral physical currency (and perhaps precious metals) will make sustaining such a system difficult.
But even if such a society avoids negative rates, it is very likely that there will continue to be a significant demand for cash. With little restraining it from hiking taxes and passing more onerous legislation, governments will gradually make gray and black market activities more attractive.
People such as those that read publications like The Daily Bell will be the first to adopt private solutions that combat government invasiveness. It is inevitable.
Conclusion: In other words, be careful what you wish for.
In fact, they were often bribed by pots of EU money that poured into the government to adjust unallowable deficits. The top elites pocketed this money and then went to work campaigning for EU unity. Once the EU agenda triumphed, those in power slipped away with the money and the larger population was stuck with an evolving authoritarian empire.
It was inevitable that the tribes, once lulled by good times and cash infusions, would begin to resent an era of "austerity" and impoverishment. What we didn't anticipate was that the European elites had an answer: Organize a mass Islamic migration (apparently this is what's going on) that would cause confusion within Europe's tribal countries and focus resentment away from Brussels and the monetary system and toward "Islamification."
The global electronic bank wet dream.
It took them almost the entire article to hit on the big reason why cashless isn’t coming: grey and black markets.
Money has its basis in barter for things of value, either immediate, or of future value like a promisary note. The global socialists want to completely destroy the relationship between ‘money’ and the goods/services/labor that made that ‘money’ possible.
What better way to redistribute everyone’s income than to have it all stored on a central server and the dupes wake up one day to find they who worked hardest have less and those who don’t work at all have more, and the fat government beer-o-craps at the top are rolling in it because they manage it all.
I don’t want a cashless society. I have noticed in my travels that young cashiers in stores seem to be more and more unfamiliar with handling cash. The cashless society I dread can’t be far off. Some businesses have admitted to me that they now rarely handle cash. Everything is done with a card or some other electronic method. I like cash. It’s less “trackable”.
No thanks. Cash is anonymous. 90% of the money I spend (other than utility bills) is cash. I like it like that.
About as realistic as a paperless office...............so no chance, at least until we get the Enterprise built in the spaceyard.
Paying with your phone is bullcrap too
Yeah, I could see how that might come in handy in some situations, but I just don’t want it in general. I have credit cards and a debit card. I don’t need anything more than that - except cash!
True. I thought the EU issues were interesting.
I agree. I don’t want to be tracked everywhere I go and have a database of everywhere I spend money.
You just don’t know how this information will be used in the wrong hands. Do you want govt bureaucrats knowing how much liquor you buy or how many cigarettes? How much junk food? Ever spend money on pornography ??
Many of what I noted above could become the business of obamacare bureaucrats. Will someone say you sent to fast food places too many times, and punish you since it will be seen as govt business because it impacts healthcare??
The implications of all of this should scare us all.
A cashless society is all about control. They want to know how much you turn in receipts, how much you spend, and how much you got left over so they can take what they want with just enough left for you to survive, maybe.
I never hear anyone asks what happens during a natural disaster? When there’s no electricity how can you buy or sell over network without cash?
What happens to you if there is a change of government where what was once considered good is now bad and you find yourself to be a target of government ? It is probable that government will shut down your ability to earn, buy or sell and you will be powerless. Then you will live at the mercy of government or you will starve to death. Hitler would’ve loved this scenario when it came to the Jews. Imagine with the click of the mouse nobody Jewish would have access to their money or to be able to carry out commerce through official channels.
A cashless society is a totalitarian’s wet dream.
I find comfort in the fact that people are creative and they always find a way to barter outside official channels. If this comes to America be prepared to see people carrying around a lot of silver and some gold and other tangible goods to barter with. Be prepared for “pious” public officials to denounce the scourge of bartering and the trading of physical assets.
http://prophecyupdate.blogspot.com/2015/05/central-control-un-and-coming-cashless.html
You have a very short time to continue this.
By the way, a cashless society works against subsidiarity. I think that’s why the Finns and Swedes are so much closer to a cashless society than say Spain or Italy. Protestant influenced cultures will develop cashless societies first in the name of efficiency.
Sweden is a moot point. As the article points out, the native Swedes will be a minority in their own country in 10-12 years. This shift will undoubtedly create increasing tensions with less trust in the ruling class. That would likely mean a rejection of authority and a resurgence in cash, underground economies etc.
If the entire U.S. was like Minnesota, we would probably be like Sweden too. Ditto that for most of the other coastal megalopolis (excluding the inner cities).
One EMP and its over.
Realistic? How quaint. I’ve been cashless for years.
Everything is either online banking, credit card with cashback. No more is the bedroom dresser cluttered up with useless coins or time spent digging for them in my pocket.
The banks and processing companies will love this. They’ll make 2% on every single transaction in the nation.
But even better, you’ll get nice little letters from the federal government reminding you that you have made unclean purchases. Cross reference your purchases with your medical history and all sorts of wonderful things, for the government, will occur.
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