Lobbied heavily by the credit card companies that get 2% on ever transaction.
Some people have speculated that the real worldwide SHTF scenario is a banking/government money crisis. Consider the following:
1. I believe I remember reading an article that stated that banks can claim that all funds deposited with the bank are actually the banks property now and that depositors are now considered to be ‘investors’ and as such are last to claim any money from the bank if it fails.
2. European banks have proven that money on their books belongs to the banks and not the depositors. Remember Cypress? The depositors took a real ‘haircut’ if they had deposits over a certain valuation. If I recall correctly that was instituted by their government as they needed the money. That banking logic is going worldwide now.
3. Also consider that Cash is a form of ‘private property’. Where some people don’t understand the concept of ‘private property’ when it comes to real-estate or cars or anything else that’s tangible because they don’t have any vested interest in those things. They DO understand cash though either bills and coins or as EBT cards. Take away their cash or cards and they’ll get the concept of ‘private property’ really quick after that.
Consider that if there is a ‘cashless’ society imposed on all of us and one morning you woke up and all your ‘money’ was now half of what it was before you went to bed but the prices in the stores remained the same. How would you ‘feel’? Well I believe that a great many people would feel rage and start looting and burning.
If enough of that occurs then the society collapses and the Government has two real choices. Declare martial law and attempt to take control of the situation. Or... let it just burn itself out and wait until the population is decreased to more ‘manageable’ levels.
Assuming of course that the ‘government’ can keep control of it’s own forces as those members see their families both close and extended being destroyed by the situation.
In the long-run though, cash or as some say ‘fiat money’ is just a more portable way of doing barter. When the full trust of the Government and Central Bank is crashing and burning there will still be barter to fall back on.
Another reason for a cashless society is to condition it’s people to accept virtual credits. And to make a long story short, will allow a government to use as many credits as it wishes to support it’s economy without consequence. Utopia.
Mark of the Beast coming very soon!
Call on Jesus today—it’s your only Hope!
translation, citizens are seeking ways to dump euros.