Cashless societies
Both Australia and India have taken strides toward a cashless society recently. What do you think of this?
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I realize this may seem farfetched, but just thnk about how the money in the banks disappeared at the time of the "Great Depression". People were gie pennies on the dollar for their money in the bank. Try getting nothing on the dollar in a true cashless society.
Then your down to barter for survival...that's why I say BOTH, what's wrong with BOTH?
They can't Take when you have both...that's why.
The other thing it allows is for vast data mining - and the control that comes with it. They now can sell all your buying habits to marketing companies. They can sell your political donations to political activist groups so you can be shamed, persecuted, and run out of your job.
The last thing it does is vastly enrich the credit card companies. It's proven that there is a psychological pain that accompanies paying with cash that is not present when using virtual currency. This pain in parting with hard-earned fruits of one's labors leads one to more carefully evaluate the costs of wanted items and seek for better deals - or even not spend at all. Using virtual currency encourages the spendthrift and debt and discourages savings which then fuel investment in the future.
No, I for one am 100% against virtual currencies.
What's new is the way that service charge is calculated - instead of being a flat monthly fee (say $34.95 a month), it's a percentage of what they're holding - say 1% So if your account has your businesses monthly payroll of $250,000, it costs you $2500 a month instead of $35 a month.
And without the ability to pay and trade in cash, EVERYTHING you transact will be subject, not only to the taxes of the State, but the "fees" of the looter.
Still wonder why they want a cashless society? It's a profitmaker for those banks that were bailed out as "too big to fail", except now they're making sure they have their hands in everyone's wallet, so they, by right of existence, be fed by you, whether you wish to feed them or not.
In other words, it's a hell of a looters racket. Get rid of cash, and we get a cu of everything.
Man, I betcha the old mobs wish THEY could have thought up a racket as sweet as what the new nobs (eg the bank/fed monopoly) thought up... all nice and tidy and legal.
It is the classic trading of freedom for convenience.
There are so many many ways this could be abused, and not just by the government. Although the government will have the greediest hands in your account. Identity theft will be a growth industry for sure.
Then the gov't will be able to track everything you buy, or sell, and even allow or disallow it.
Another reason for Bitcoin, and pursuing a reliable, Peer-2-peer mesh network.
Of course, if the gov't blocks us from buying bitcoin then the only way you'll get them is by mining them, or trading them for goods or services.
spelling edit
Last week, BOA stopped excepting cash in Australia.
India is in turmoil.
Can someone get a message to trumpet...Now this, is where we could use his strong man routine.
Just think of working hard and having Nothing physical to represent that hard work...not a good thing for humans...just an infinitesimal, insignificant part of the collective...talk about breaking your spirit. Can you see where this would lead psychologically?
Back to small denominations of gold and silver I say.
As Dagny knew in AS when she gave Jeff a cash advance, "Cash in one's pocket turns to confidence in one's mind." (paraphrased). BT
Now, they could track the company the purchase was made from - which might give an indication as to what type of stuff might be being bought. But, look a stores like Amazon, Walmart, etc... they would have no clue what your are buying in those cases. Nope, I don't believe this angle - at least not at the level of detail that many people think they are getting.
However, if they force digital currency - I suppose they could change regulations to begin forcing this level of detail so they could track every little thing. What would be your choice at that point with no non-digital currency to work with? None. Well, barter I suppose but that would be a big hindrance to people.
If you have a choice of loosing money to the bank/government for keeping your "money" there, you will spend it. Whether it's on higher payrolls, buying more physical goods, etc... you will not want to hold on to "money".
I would assume the government would regulate this in a way where they get a certain portion of the negative interest collected by the banks as well. It would be income to them and thus taxable for sure.
Just a big redistribution plan! Government trying to convince people it will not hurt them and that they are only after the criminals using large paper currency for illegal exchanges. The next thing you know, you are a criminal because of some obscure regulation in this plan and have your money confiscated or you're put in jail. If you play their game - then your wealth is redistributed. By the time people figure this out, they are in so far they won't know how to get out - especially if the government takes their guns first.
The joke for the author of a crappy novel I once read posed like that for the inside of the back paperback cover.
That out of the way, me dino would strongly recommend against there ever being a cashless society who is solely dependent on electronics.
Back in the good old days before the telephone, the sun that libs won't blame for a climate created a solar flare actually melted telegraph lines. The effect of that event on a horse and buggy cash in every pocket civilized society was minimal.
https://www.google.com/search?q=solar...
Right now today? Such an event would be a complete catastrophic disaster.
But that added to having no cash at all?
Mad Max here we come!
If a bank did not engage in fractional banking (issuing more notes that it had coin to back) there would not have been receipt of pennies on the dollar, the bank would be able to account for every dollar it had or had loaned.
Cashless means a new level of control, if the government does not like an individual it does not have to take him to court and prove its case, simply make his 'money' unavailable to him and he will become compliant if he wants food, energy, medical care.
Storing coin of value in a vault is not necessarily a bad idea unless those who store it can find a way to steal it from you (fractional banking) or deny you access to anything of value to use in trade.
A cashless society is a Big Brother government's dream. At it's most intrusive worst it can, without detection, invade your privacy and monitor spending patterns and know all too much about individuals, violating their 4th amendment rights. On it's most basic level it is a power-grab which always comes at the cost of Liberty.
Regards,
O.A.
all this minimum wage, and government controls?
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