{"id":66557,"date":"2024-01-22T06:53:02","date_gmt":"2024-01-22T11:53:02","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66557"},"modified":"2024-01-22T06:53:02","modified_gmt":"2024-01-22T11:53:02","slug":"never-ending-war-on-cash","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66557","title":{"rendered":"Never Ending War on Cash"},"content":{"rendered":"

Never Ending War on Cash<\/a><\/h3>\n
\"\"<\/a><\/div>\n

In the last few decades, there has been a global shift towards a \u201ccashless world<\/a>,\u201d a trend that continues to shape financial autonomy. Physical currency is becoming increasingly rare as the majority of the world\u2019s money supply exists in electronic form. Governments and financial institutions are actively promoting a cashless society, raising concerns about individual financial freedom.<\/span><\/p>\n

The Federal Reserve\u2019s last annual update on physical currency in circulation reported about 2.2 trillion dollars in physical cash supply. This includes physical coins (dimes, quarters, dollars) and green Federal Reserve notes. Nevertheless, there has been a\u00a0rapid shift towards electronic funds<\/a>. In the current era, the total global money supply is predominantly composed of electronic funds, with physical currency representing a diminishing percentage.<\/p>\n

The concept of Central Bank Digital Currencies (CBDC<\/a>) in the last year has gained substantial prominence globally.\u00a0IMF Director Kistalina Georgieva\u00a0<\/a>noted in her speech last year that CBDCs have already been introduced in The Bahamas, Jamaica, and Nigeria, with over 100 additional countries (including the United States) currently in the exploratory phase.<\/p>\n

The push towards a cashless society is often justified on grounds of enhanced security, with claims that electronic transactions deter terrorism, money laundering, and counterfeiting. However, upon closer examination, it becomes apparent that the primary objective is an attempt to \u2018bar the doors\u2019 and keep assets within the US Financial System. Reduced reliance on physical cash facilitates increased monitoring and taxation of financial transactions, aligning with the government\u2019s and central planners\u2019 interests.<\/p>\n

Interestingly, even with the diminishing purchasing power of the US dollar, the face value of Federal Reserve notes has also been decreasing. Today, the highest denomination note produced by the Federal Reserve is the $100 note.\u00a0The elimination of higher denominations<\/a>, such as $500, $1,000, $5,000, and $10,000 notes, began in 1969. Discussions continue, with some advocating for the complete discontinuation of cash.<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Never Ending War on Cash In the last few decades, there has been a global shift towards a \u201ccashless world,\u201d a trend that continues to shape financial autonomy. Physical currency is becoming increasingly rare as the majority of the world\u2019s money supply exists in electronic form. Governments and financial institutions are actively promoting a cashless […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[1035,124,4955,374,379,647,18779,4927],"class_list":["post-66557","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-cash","tag-central-banks","tag-digital-currency","tag-gold","tag-government","tag-precious-metals","tag-schiffgold","tag-war-on-cash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66557"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66557\/revisions"}],"predecessor-version":[{"id":66558,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66557\/revisions\/66558"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}