Once it's been ensured that most wealth is being held inside the digital banking system, the dystopian nature of this future becomes quite clear. These aspects include:
(Note: this cashless economy would not be one that relies on a decentralized cryptocurrency, but rather a centralized digital fiat currency)
Dependence on the system
Under the current system, a high percentage of individuals are dependent on the government for either aide, employment, or both. In a cashless economy, this would be even more prevalent. It also is likely that government would discourage self-reliant behavior, and would encourage individuals to live in megacities.
Due process
In a cashless economy, you are guilty until proven innocent. Your bank account could easily be entirely confiscated, simply because the government suspects you broke a law. There would be little or no recourse in such a situation, and it would be an effective way for the government to break the spirits of dissidents.
Laws restricting purchases and the amount of wealth you can own
Government could easily enact laws regarding what you can and cannot purchase, as well as how much you can purchase. They could prohibit food or ammo stockpiling, or any other purchase they deem illegal. They also could limit how much you could keep in your bank account, and could limit how much you could transfer to another individual.
Negative interest rates
Perhaps one of the most frustrating aspects of a cashless society, would be negative interest rates. Rather than accruing interest on your money in the bank, you'd pay the bank to hold your money. Not only would the bank profit from this action, but it would discourage hoarding, and would encourage more consumption by consumers. This would have a short term stimulus effect on the economy, but low savings would be detrimental to the economy as a whole.
Bail-ins
If you thought the bank bailouts were corrupt, bail-ins will frustrate you even more. If a bank is at risk of insolvency, they can simply skim a small percentage off the top of each account, while simultaneously funneling money to the elite executives. In a cashless economy, there is little you can do to prevent this.
Taxes would be arbitrary
Imagine, getting paid every other Friday, and guessing how much the government would tax your paycheck. In a cashless economy, taxes could easily be adjusted, and there would be nothing you could do about it. Sales taxes, property taxes, and more, could also be controlled through this system.
A cashless society benefits the elite
Whether through taxes, bail-ins, or negative interest rates, the 99.9% suffer, while the .1% benefit. Think the current system is good for the elite? A cashless society is an ideal society for bankers, central bankers, and government as a whole.
Grid down
A digital economy would be highly prone to solar flares, EMPs, or other disruptions of the electrical grid. Humanity would suffer far more from such an event if a cashless economy was instituted, though it would give them a chance to start anew.
Image source: http://medyascope.medyascopetv.netdna-cdn.com/wp-content/uploads/2017/01/Dolar_11. jpg (with edits by me)
Whenever I read about a cashless economy or cashless-society it makes me think about The Economist prediction made in the year 1988. Which state a world currency in the year 2018...
The question remains: are we being conned with al these crypto's?
NO. The reason it was predicted is they are the ones doing it... New world order.
I think there are sincere, honest people (maybe not all) that are promoting cryptos as an alternative. Maybe they will survive the deep states' take over (retakeover) of the financial system & the new "currency". Maybe the new currency will be gold backed. But, I'm not buying cryptos-today. I also thought Hillary was chosen to "win" the WH & that the deep state would never allow an outsider in the WH. So...what do I know about anything? I believe the Bible says there will be "great tribulation" in the "last days" of this "system of things" that we have never seen before, so if we are entering "the last days" then our economy will be controlled by the beast & we will have to have the "mark of the beast" on our wrist in order to buy or sell. That sounds more like the deep state (bad guys) win the currency war.
But couldn't those 'last days' be the ones we've already been experiencing? It seems clear to me that the world has been suffering for Millenia already under an extremely malevolent 'Satanic' rule. In other words, from my perspective, we will hopefully very soon be exiting some kind of tribulation period...though it may get worse before it gets better. I hate to think that cryptos were created by the NWO—I have no idea where to put my hope if that's not the case. A 'decentralized' world seems to be the only future worth living in. This satanic overlording and manipulation of governments, currencies, and media just has to come to an end soon!
it surely does seem like we've been living in turbulent times, ever since the bankers subjugated America under another central bank. the federal reserve has been controlling governments & propagating wars all over the earth. globalists want the whole world under their centralized control. to what extent, & for how long can we resist their evil schemes? will 2018 issue in a new world currency? I just keep thinking, (speculating, really) how this reminds me of the Roman siege of Jerusalem (66CE-70CE). The Zionists in Jerusalem rightly recognized that the Roman Army was a/the "disgusting thing standing in a holy place" & they wanted to defend the holy city. Their fight seemed, to a human observer, to be righteous. However, Jesus had told his followers not to fight but to flee from Jerusalem when they saw these things taking place. Might we be repeating the error in our fight against the disgusting, morally corrupt world government? ought we to flee?
Why don't they just go ahead and propose putting a mark on all of our foreheads and get it over with? (Rev 13:16) Thanks for posting. Let's hope we can resist this.
I wouldn't joke about that. It's absolutely the plan this year.
I know it is coming. In our culture, I think most people will line up to volunteer to receive it.
"Institute of Crypto Anarchy" my ass....
"Hey Im a Voluntarist, let me volunteer for a mark to buy and sell!"
eightyyroldself, I like your duck. and we both know, what is written (Rev.13:16) will come to pass. "what goes forth from my mouth will have certain success..." "not one word has failed..."
Thanks! I like the duck too. As someone who raises ducks, could you guess what kind it is?
black bill, whitish head....hmmm...why a Welsh Harlequin female!, i'd guess.
Thanks! Glad to know the answer. You must know your ducks!
You shoud post more post like this! I like it Definitly !
Fantastic thread silverfortune - upvoted. Important discussion - a lot of major global players want a cashless society. Look at India eliminating large-denomination bills. TPTB want to steadily chip away at cash until it is all but obsolete. We cannot submit to them.
LOVE THE INFO AND THANK YOU FR POSTING IT
Awesome post! Upvoted & Resteemed!
Thanks Sean!
Agreed completely .People must withdrow from it by not participate.
Thought-provoking. Some of these conditions already exist, a few have already been witnessed in parts of the world (e.g. bail-ins in Cyprus) and socioeconomic and political conditions are laying the foundation for the rest. Future's not bright.
Good article, been watching this for about 40 years or so. We would sit and talk about it into the wee hours, wondering how it would all come about. Well folks, wonder no more. Here in Canada we are running about 68% digital transactions. When the crash hits, we will see cash go byby. Looks like sooner than later. Central banks are already using block chain, the States has fed coin, Up here we have Can coin. Our banks clear at the end of the day in Can coin, not Canadian dollars.
I so agree about the "grid down". Always has been in the back of my mind. Thanks for the nice article. Resteemed.
very good points.
I hope that people realize that cryptocurrency is only one class of investment vehicle and continue using other forms as well. The way blockchain tech currently works, it is possible for govs to control it but only if the people let them.
Think of it much the same as the internet. Only if we LET them take it from us will they control it. And if we dont let them----we frigging win ;)
Now the only problem is teaching my beloved patriot comrades that Internet rights are even MORE important today than the 2nd Amendment...
Yet even I carry a bugged cell phone....sigh.
BTW, thanks for the massive upvote. :)
its how i choose to use the technology...to support things i believe in :)
I know, it does suck knowing that nearly all my technology can or has been hacked with little to no effort. And I agree, about the internet. Just like the old saying goes, the second amendment exists to protect the first. The internet simply cannot be matched, as a medium for free speech.
yep...they are tools. We humans choose how to use them. Sadly many people would prefer to do shit like this with bitcoin and cryptocurrency:
My aim is to be in a place where I can tell people they are crazy and hopefully have some listen to me. :/
Trading freedom and privacy for security is bad enough, but that's trading it for convenience.
sadly...
so many smart computer geeks who also have absolutely no sense of what history has taught us about humanity's past mistakes...
even if crypto is a lure into total cashless, the smartest cookies will still have side stock piles of gold and silver
thanks for this perspective, it is quite interesting. i rather feel this cryptocurrency phase is going to be a transition to something even more liberating.
many people seem to believe that the existing banks and governments will remain in control of cryptocurrency somehow, but this will be very difficult for them to do. we have been seeing a global movement away from the US petrodollar for a while now, as well as a convergence of troubles for the govts and their banksters. this same USD is almost entirely propped up by debt. when citizens begin to realize the kind of liberation that cryptos offer, the existing controllers will not have many options left (aside from war) to save their system and "wealth".
citizens are blind the fact they have been slaves their entire lives and still are. What makes you think they will wake up now? You realize this has been happening for so many years, so many warnings... from so many people. this is the year. this is the year the enemy tries. Don't be so confident that the future is smooth..
thanks for asking, many factors lead me to believe this such as; clinton losing the white house. Brexit. the “fake news” meme blowing up in their face. major powers like Russia, China, India, etc… moving away from USD as global currency standard. even attempting to set up an alternative to the SWIFT for transactions. Wikileaks revelations almost weekly. many unsuccessful attempts at war- Syria, N. Korea, and Russia. recent false flag attacks too frequent and flimsy to have the desired impact. US political criminality and pedophilia exposed. i'm sure there's lots more we can list for this convergence.
cryptos will be the stepping stone that allow us to move away from the current system. by all appearances, unless they can start a war, they do not have the resources to turn the crypto revolution into another slavery paradigm.
Yes, slavery didn't end, the masses just became free-range slaves allowed out of prison for a few weeks vacation each year!
Its started here in UK also !
https://steemit.com/cash/@batfinkler/attack-on-cash-are-we-being-conditioned-for-a-cashless-society
The bail-ins have already begun. They are in place for this crash, used twice in Europe, and announced in the paper in Canada, meaning it's soon.
excellent article - just a matter of time - they are coming
other than going to cryptocurrency so that banks cant track your money this would be a NWO agenda
I do not think crypto in a new world order hatch.
Any body that belief crypto in a new world order should not have anything to do with steemit. To me, crypto is a breakthrough that will dissapoint our evil government.
Interesting predictions... Really makes you think..
would love if you checked out my last post! :) https://steemit.com/blockchain/@jjjjosue/market-influx-casey-neistat-and-blockchain-applications