We Are About To Witness A Major Move Toward A Cashless Society
Authored by Michael Snyder via The End of The American Dream blog,
The war on cash has just gone to an entirely new level. When I heard that the European Union was planning to completely ban all cash transactions above 10,000 euros, I had a hard time believing it. There are so many wild rumors flying around on the Internet these days, and so I wasn’t going to write about this unless I could confirm it. Unfortunately, this particular rumor is quite real.
Under the pretext of fighting “money laundering and terrorist financing”, the European Union will be entirely outlawing all cash payments greater than 10,000 euros.
The following comes from the official website of the Council of the European Union…
By limiting large cash payments, the EU will make it harder for criminals to launder dirty money. An EU-wide maximum limit of €10.000 is set for cash payments. Member states will have the flexibility to impose a lower maximum limit if they wish.
So this means that in some countries the upper limit could potentially be a lot lower than 10,000 euros.
But instead of framing it as a major move toward a cashless society, the EU is trying to claim that this is all about fighting terrorists.
The following is what Zbyněk Stanjura, the Minister for Finance in the Czech Republic, has said about this upcoming change…
Terrorists and those who finance them are not welcome in Europe. In order to launder dirty money, criminal individuals and organisations had to look for loopholes in our existing rules which are already quite strict. But our intention is to close these loopholes further, and to apply even stricter rules in all EU member states. Large cash payments beyond €10.000 will become impossible. Trying to stay anonymous when buying or selling crypto-assets will become much more difficult. Hiding behind multiple layers of ownership of companies won’t work any more. It will even become difficult to launder dirty money via jewellers or goldsmiths.
Meanwhile, the European Central Bank has been actively considering the possibility of introducing a “digital euro”. The following comes from the official website of the European Central Bank…
We are working with the national central banks of the euro area to investigate whether to introduce a digital euro. It would be a central bank digital currency, an electronic equivalent to cash. And it would complement banknotes and coins, giving people an additional choice about how to pay.
Well isn’t that convenient?
As they take cash away from the general population, it turns out that they have already been working on the replacement.
Incredibly, the ECB even has the gall to claim that this new digital currency will be “like cash”…
A digital euro would offer an electronic means of payment that anyone could use in the euro area. It would be secure and user-friendly, like cash is today. As central bank money issued by the ECB, it would be different from “private money”, but you could also use a card or a phone app to pay with digital euro.
Yes, you will be able to spend it just like you can spend cash.
But unlike cash, a digital euro will allow authorities to track whatever you buy and sell with it.
Won’t that be wonderful?
By the way, the Federal Reserve is currently working on a digital currency as well.
And this is all happening as the private cryptocurrency industry is imploding all around us.
Many had believed that decentralized cryptocurrencies would be the future of commerce, but global central banks were never going to allow that to happen.
Instead, it appears that they intend to force all of us on to a cashless grid in which everyone uses digital currencies that are issued by them.
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About the Author: Patriotman
5 Comments
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GUNS N GEAR
Thanks for posting. More confirmation that we need to be busy doing what we can in preparation.
The Fedcoin is part of burning it all down better in order to build the CCCP back even worse.
Laughing at these new quarters that look like something out of Zimbabwe and looking forward to gut busting morale boost from the new Twompson or $20 bill.
As I think of ways to protect my financial freedom and anonymity, the best method still seems to be conversion of paper dollars into gold bullion. There just doesn’t seem to be a better way to contain so much value in such a small package and can be concealed or hidden easily. My only hesitation is that in a cashless society, trying to trade something like a gold coin for say, a whole beef might be avoided like the plague depending on the attitude of the Federal Government pursuing backdoor trading.
I also consider ammunition or components a good investment, but arguably more difficult to hide or transport though.
As the government conspires to gain more control through a digit currency, I think it’s a perfect time to invest excess cash into a form of alternative currency with real value. I’m not interested in a virtual currency be it a virtual FED $ or BitCoin and other worthless subcategories of digital bits and zeros.
If I can’t hold it, shoot it, drive it, eat it, or wrench it, it’s just trash in my opinion. In the long run, I don’t believe we will have a choice. This will become our new reality. That doesn’t mean we can’t figure out a way to subvert the system and work around it somewhat.
Cashless society and digital tyranny were dead on arrival. Both depend from electricity and this means that electricity supply and grid both must be bombproof. Can’t run cashless society and digital tyranny when blackouts happen all the time,
Also electric grid is one of the most vulnerable part of infrastructure. It is impossible to guard thousands of kilometers of power lines and to destroy one of those powerlines, only small group of hostile actors and common tools are needed. Powerlines are one of the most guerilla friendly target. Low risk, no special equipment or training needed and big outcome.
They won’t care if we lose power and can’t buy food with our digital currency. There will just be fewer of us they have to worry about. All part of the world democide plan.
Gold, as mentioned above will help, but silver is more useful for small transactions among friends.