The move toward a cashless society is not new. It has been gathering momentum for years and is a live topic of conversation for central bankers, university professors and other members of the international monetary elite.
Some reasons for this are obvious. Central banks are anticipating more widespread use of negative interest rates. So far, negative interest rates exist in the eurozone, Sweden, Switzerland and Japan. The U.S. is contemplating them for use about a year from now (when rates hit zero) but has not made any definite decisions.
But these negative rates are mostly a wholesale phenomenon at work between major commercial banks and central banks. They have not really filtered down to the retail level where consumers actually see their account balances shrink as depositories charge customers for the privilege of depositing their money. Yet we’re getting closer to that point.
A simple way to avoid negative interest rates is to pull your money out of the bank as physical notes, put them in a safe place and sit tight. You don’t earn any interest, but you don’t pay negative rates either. The par value of your cash is safe.
The elites’ plan to stop those kind of withdrawals is to eliminate physical cash entirely and force everyone into digital deposits. That way there is no escape from the negative rate (really a kind of tax or confiscation).
Still, according to this article, Canada has now articulated additional reasons to force savers into digital deposits by eliminating cash. These reasons include digital surveillance of the activities of law-abiding citizens. If all transactions are digital (including credit and debit cards), authorities can track your whereabouts, buying habits, restaurant choices and much more.
A report for the Bank of Canada says that financial information gathered from digital transaction records could be used for “sharing information with police and tax authorities,” according to the article.
Before pigs are slaughtered, they are herded into pens. Before savers are slaughtered with negative rates, they are herded into digital accounts from which there is no escape.
If cash actually is eliminated, there is still one place savers can go to avoid confiscation and state surveillance. That’s into physical gold.
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