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Posted on 05/13/2015 12:00:03 PM PDT by C19fan
A proposed new law in Denmark could be the first step towards an economic revolution that sees physical currencies and normal bank accounts abolished and gives governments futuristic new tools to fight the cycle of “boom and bust”. The Danish proposal sounds innocuous enough on the surface – it would simply allow shops to refuse payments in cash and insist that customers use contactless debit cards or some other means of electronic payment. Officially, the aim is to ease “administrative and financial burdens”, such as the cost of hiring a security service to send cash to the bank, and is part of a programme of reforms aimed at boosting growth – there is evidence that high cash usage in an economy acts as a drag. But the move could be a key moment in the advent of “cashless societies”. And once all money exists only in bank accounts – monitored, or even directly controlled by the government – the authorities will be able to encourage us to spend more when the economy slows, or spend less when it is overheating.
(Excerpt) Read more at telegraph.co.uk ...
Instead of cash, why don’t we just have an account set up in our name,
and then to pay for anything, we could show a barcode or chip or something, embedded in our hand or forehead?
Even better, just imagine being able to keep your bank account info on a chip implanted in you! Wouldn’t that be awesome? No need for cash, or debit/credit cards that you can lose. You can have your bank info on there, right along with your medical history and other info. Ain’t it great? /sarc
The author wants what you propose because the gov’t can them impose significant negative interest rates to force you to change your spending habits.
Sounds seductively great, doesn't it? Would lead to very bad outcomes.
It might work... perhaps for about 7 years.
Remember, end times prophecy isn’t something to avoid,
it’s something to look forward to, and a warning.
The King James Bible warned us that in the Last Times this would occur.
"Cash is KING !"
In the Age of the loss of freedom , cash allows you to make purcheses without Government oversight.
There is already too much FEDGovernment oversight in our lives , our kids lives, and socialist indoctrination centers known as the public education system.
There is already the SMART SYSTEM on your utilities , unwanted apps on your smart phone , intrusion of privacy on your smart TV.
Just another intrusion of FEDGovt. in our lives = CONTROL !!
Other translations probably do as well... :)
I thought of an improvement on the author’s scheme. When seeking to control the economy and discourage wealth accumulation (government credits in this scheme), wouldn’t it make sense to impose or lower interest (or spending taxes) on INDIVIDUALS who weren’t in line with the government’s policy wishes?
From a systems point of view it makes sense. Forget about equal treatment under the law, though.
> the authorities will be able to encourage us to spend more when the economy slows
So the expression “Don’t eat your seed corn” was wrong after all?
Mindless consumption does not fix the economy. If it was that easy, we could all go shopping until we were rich.
Anyone that proposes the elimination of cash really has no idea what “money” is.
Any currency/cash is simply a certificate of trust.
I take money from you for goods or services because I TRUST
that I can do the same with the next guy.
“And once all money exists only in bank accounts – monitored, or even directly controlled by the government – the authorities will be able to encourage us to spend more when the economy slows, or spend less when it is overheating.”
Hahahaha! This is so bass-ackwards I have to laugh to keep from crying.
Government intervention worsens boom-bust cycles, every time. Decoupling currency from any real world basis exacerbates inflationary cycles, every time. Here they are proposing more of both. It would be a dream come true for meddling bureaucrats, and a waking nightmare for everyone else.
What is this, the world of “Star Trek”?
Never, or only very rarely, is the concept of “money” ever touched upon, apparently there is an element of trust so broad, so unchallenged, that even deadly adversaries take each other’s word in matters of exchanging SOMETHING for goods and services rendered. And never a moment spent haggling over the terms of the exchange, just BOOSH! and it’s done.
Hell of a way to run a marketplace. I don’t see humanity, or any other entity in the Universe, ever evolving that far up the scale. There shall have to be SOME instrument of obligations and discharge of incurred liabilities, so long as there is any sentient capability left.
Amoebas have no need of cash.
That’s happening too. Isn’t it amazing how the Bible predicted all this, and we’re seeing it come to pass right before our eyes?
This won’t stop boom and bust which is driven by consumer psychology and external events like oil price spikes.
Yeh, that’s the ticket. :-) We joke but I’m sure that’s the end game. Now in the US the banks are encouraged to call the cops if you try to withdraw more than $5,000 cash out of your account.
I personally don’t think outlawing cash will be as easy as the stasi thinks. Either states will start coining their own money or people will start using gold and silver again. There is always a way around everything.
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