We’ve heard reports for years about the “death of cash.” Yet most savers and investors believe this is something for the distant future.
It’s not; it’s happening in real-time, as this article shows. Sweden is the canary in the coal mine for a cashless society. But now Swedish authorities have become concerned that the trend is going too far, too fast.
Cash is not “free,” from a logistics perspective. In fact, it’s expensive to handle cash. You need vaults to store cash on site. You need armored cars to move it around. You need automated counting machines and armed guards once it gets to the bank. All of that infrastructure requires a certain critical mass of cash to pay for itself.
With a lot of cash in circulation, the handling costs can be spread out and made affordable. But with limited cash, the costs per transaction are too high. This creates a death spiral in which more merchants abandon cash, driving costs per transaction higher still and leading to an eventual disappearance of cash until it becomes a luxury like diamonds or gold.
Global elites have been pushing for the elimination of cash so they can trap savers into digital slaughterhouses at major banks where they can impose negative interest rates, fees, taxes and other regimes to steal your money. But now even elites are concerned that the trend has gone too far.
It’s an example of the admonition “Be careful what you wish for.” Savers have an easy solution to this dilemma, which is to buy physical gold and silver coins that preserve wealth, are nondigital and are outside the banking system.
Once cash is eliminated, elites will declare a war on gold and silver. The time to acquire bullion bars and coins is now, while you still can.