Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 03/23/2026 6:23:31 AM PDT by delta7
As the 89th Banking Convention wraps up in Cancún today, Mexican President Claudia Sheinbaum and former Canadian Prime Minister Justin Trudeau share the stage with Visa, Mastercard, BlackRock, and the BIS—amid a focus on ending cash that ties perfectly into Mexico’s ongoing biometric ID rollout.
On Wednesday, the 89th Banking Convention began in Cancún, Mexico, as representatives from the Mexican government and banking sector met to discuss the future of digital payments and the phasing out of cash in a country where more than three-fourths of the population depends on it.
The annual meeting brought together leaders from Mexico’s financial sector, including heads of banking, government economic authorities, and CEOs of major corporations. The convention is organized by the Association of Banks of Mexico (ABM) under the theme “Innovating Banking, Building the Future.”
La 89 Convención Bancaria dio inicio en #Cancún para abordar la transformación en el sector financiero y contará con la participación del ex ministro de Canadá 🇨🇦 , Justin Trudeau, y la presidenta Claudia Sheinbaum. 🇲🇽 pic.twitter.com/ZL1aNtAsLG
— StephaniAlmaraz (@stephiblan) March 19, 2026
On Thursday night, Mexican President Dr. Claudia Sheinbaum spoke on increasing productivity of small- and medium-sized businesses in Mexico. Former Canadian Prime Minister Justin Trudeau is scheduled to give the closing presentation on Friday evening titled “Global Leadership and Transformation.”
Other speakers include representatives of Banorte, BBVA, Scotiabank, Santander, and HSBC. Also in attendance are Ryan McInerney, CEO of Visa, and Tim Murphy, Vice Chair of Mastercard.
International Banksters Seek to Control Mexico
One sign that the meeting is of vast importance to the international banking sector—and the overall push towards Central Bank Digital Currencies (CBDCs) and stablecoins—is the presence of representatives of Mexico’s Central Bank, the Bank for International Settlements (BIS), and BlackRock.
For example, on Wednesday, Fabrizio López Gallo, Director General of Financial Stability for Mexico’s Central Bank, participated in a panel titled “Sustainable Financing: Risks and Opportunities,” while Sergio Mendez, the Director of BlackRock Mexico, spoke on a panel called “Infrastructure Investment as a Catalyst for Growth.”
Multiple panels underscore the push to digitize money in Mexico, including “The Future of Money: What’s Next for Mexico and the World,” featuring BIS’s Alexandre Tombini, and “The Role of Artificial Intelligence in the Future of Digital Payments” with McInerney and HSBC Mexico’s Jorge Arce Gama.
Several statements by Emilio Romano, the head of the ABM, make it clear that the Mexican Central Bank and the international bankers are working diligently to shift Mexico away from cash and towards a track-and-trace society where dissidents have their financial resources turned off.
In an interview with Bloomberg, Romano stated, “The central bank is preparing to publish protocols to drive the adoption of payments sent by mobile phones.”
He noted, “Authorities are studying separate measures that could include eliminating cash payments for some services and products, such as gas stations and toll roads.” [emphasis added]
Romano also emphasized that these changes are being made because in Mexico, “roughly 85% of small transactions are done in cash,” largely due to Mexicans not trusting their government and seeking to avoid taxation. “Easing concerns about how the government assesses income will help,” he said.
President Sheinbaum reiterated the plan to end cash payments for gas stations and toll roads in her speech on Thursday night, stating, “Our goal is that this year we make it mandatory to pay for gasoline and toll booths digitally. This will allow us to promote accessible digital payments that allow us to advance the digitization of the country through many other schemes.”
Additionally, the day before the convention began, Juan Pablo de Botton, the Secretary of Administration and Finance of Mexico City, published an opinion piece with similar themes.
“The banking sector is anxiously awaiting these rules to be published again so that we can advance in optimizing the digital-payments ecosystem,” Botton wrote. [emphasis added] He also reiterated the focus on digitizing Mexico’s economy and building trust among the population......
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
"Current Status of Cash Payments in Mexico Mexico has not completely abolished cash payments. However, significant changes are underway to reduce cash transactions. Plans for Cash Elimination Key Initiatives Gas Stations and Toll Booths: President Claudia Sheinbaum has announced plans to eliminate cash payments at gas stations and toll booths by the end of 2026. Digitization Efforts: This initiative is part of a broader strategy to digitize the Mexican economy, aiming to promote digital payments across various sectors. Goals of the Initiative Reduce Cash Usage: The government aims to decrease reliance on cash, which currently accounts for a large portion of transactions in Mexico. Enhance Financial Inclusion: By working with the banking sector, the administration seeks to standardize digital payment procedures, making them accessible to all citizens."
Just say no.
Trudeau should know when the power/internet goes out everyone without cash is screwed , when Rogers went out in Canada while he was PM ,LOl
How will the cartels launder their money?
The Mexican Government wants the power to allow citizens to conduct transactions or to disallow certain citizens to conduct transactions. The Mexican president wants all private gas purchases to cease by end of this year.
I think that is far too soon for such a change. A 3 year plan might work. Meanwhile, former Canadian Prime Minister pops up to give a few speeches about the future of currency. Apparently, his presence is expected to lend an air of legitimacy and gravitas to this Mexican monetary meltdown.
Drug dealers on the street will now take credit cards ?
I forgot the /s tag. I suspect the cartels have a lot to say about how Mexican banks are run. This probably helps them launder money.
Is ill-considered legislation in Mexico supposed to make sense to U.S. citizens?
Once money is abolished and all transaction become electronic the citizens become slaves of the state. Comply or your electronic cash is confiscated.
“How will the cartels launder their money?”
That’s just it.....they won’t have to anymore.
I know next to nothing about crypto but as I understand it, it’s difficult if not impossible to track.
I saw a documentary on it a couple of years ago that showed a drug dealer hanging out in an internet cafe and admittedly was selling drugs with bitcoin exclusively.
Mark of the beast.....
Doing this creates a huge vulnerability. To see how this might work out realize that Israel bombed the data center for Iran’s national bank. This means no government employees can be paid. That might be the single most important bomb dropped. All the Iranian payments are digital.
Don’t we already have that in this country. Who uses cash anymore here?
Very bad, evil idea
I use cash everyday. I think Digital cash is fine for Government transactions , but let the people choose what they want to use. Never let cash be abolished or you wont have any control over your finances again.
I use cash all the time
If cash were abolished, the cartels would develop their own form of currency and people would use it.
They want you to think it’s untraceable. That’s the selling point. But given how information is so highly valued, I highly doubt it.
Its the right/ability to use cash more than the using. I generally just use my debit card but pay cash sometimes for lotto tickets or Craigslist stuff and some home repairs.
I definitely wouldn’t want cash to be made illegal, but for all intense and purpose we’re quickly becoming a cashless society.
And yes, we do lose some privacy, but that’s already pretty much gone when it comes to finances.
Any big purchases we all use checks or CC and they’re all digitally recorded somewhere.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.