We’ve written frequently about the cashless society. Basically, physical cash is being replaced with completely digital means of payment including credit and debit cards, online bill paying, direct deposits from your employers and alternative systems including Apple Pay, PayPal and cryptocurrencies.
These digital payment systems allow all financial transactions to be tracked by the government and, if necessary, frozen or blocked based on disapproval by the big banks or big brother. This includes cryptocurrencies, which turn out to be much easier to track and block than the early adopters understood.
The reasons for moving to digital money are not just surveillance and freezes, but also government’s ability to impose negative interest rates without citizens being able to use physical cash, as an alternative not subject to negative rates.
Until now, citizens assumed that this government control would take time and there was still room for cash transactions until laws and regulations were changed. But, it appears the private sector is joining forces with the government. As this article shows, many private businesses, such as restaurants, are banning cash even without government orders.
This has a ripple effect because cash is expensive for businesses to handle. If you accept cash, you need to pay your share of armored car pick-ups, insurance, vault expenses and the like to move it and store it safely. The more that businesses rejects cash, the more of the handling expense falls on those who still accept it, which makes those businesses also likely to switch to a “cash free” policy.
This kind of herd behavior or cascade happens slowly at first, but then quickly, like a rush for the exits. In short, with or without government orders, the cashless society may be here sooner than most citizens realize. The remaining time to get physical gold and silver as a safe alternative is shorter than you think.
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