As Banks Seek Monopoly Over Economy, “Cash Is Being Gradually Taken Away”
There is a war on for the extermination of cash.
It is the ultimate monopoly game, but there are those who are willing to put up a fight to keep cash in the game.
The powers that be on Wall Street and in the central banks are aiming to eliminate paper money in large part to continue “sustaining and even intensifying the central banks’ nightmarish experiment with negative interest rates” – a doubly dangerouseffort for economic
And banks stand to have all the control as digital transactions flow through their institutions, closely monitored and accumulating fees, penalties and charges that enrich the banks and hold customers hostage.
As Europe moves to take the 500 Euro note out of circulation, former Treasury Secretary and enabler of past crises, has called for an end to the Benjamins – the celebrated $100 note of outlaws, gangsters and all those who would oppose the new world economic order.
As Wolf Street notes:
Those motives include sustaining and even intensifying the central banks’ nightmarish experiment with negative interest rates, increasing public dependence on big banks, destroying the last vestiges of personal financial freedom and anonymity, expanding government surveillance of and control over the economy, and in the case of credit card companies and fintech firms, doing away with their biggest competitor, physical currency.
The powers that want to kill off cash already have vital technological and generational trends firmly on their side, as a result of which cash’s days as a commonly used payment method may well be numbered anyway. They also have the added bonus of widespread public ignorance, apathy, and disinterest.
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“It would be fatal if citizens got the impression that cash is gradually taken away from them”: Bundesbank President Weidman.
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