The Birth of the Cashless Society — Hive

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30-08-20 09:13:00,

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by James Corbett
corbettreport.com
August 29, 2020

As we all know by now, the entire corona crisis was and is an excuse for The Great Reset. And, as anyone who has followed the financial prognostication space for the past decade knows, “the great reset” has been used nearly interchangeably with “the global currency reset” to describe the collapse of the old dollar-centric Bretton Woods system and the rise of a new international monetary order.

It should come as no surprise, then, that the post-corona Great Reset being hyped by the World Economic Forum and their globalist fellow travelers is itself predicated on a global currency reset. But this global currency reset has a distinctly 21st-century technocratic flavour.

The form that this currency reset is taking reveals itself in the latest headlines from the world of central banking:

U.S. Moves Closer To Digital Dollar

Bank of England Governor Signals Central Bank Digital Currency is Coming

China To Begin Major Expansion Of Digital Currency Testing

Yes, to the surprise of absolutely no one, the central banksters are using “The Great Reset” as a smokescreen to smuggle through one of their most cherished fantasies: the cashless society. Soon, central banks will be issuing national digital currencies and tracking every single transaction in the economy in real time.

And if you were able to read that last paragraph without feeling a chill run down your spine, then you need to get up to speed on what the cashless society entails and why it must be resisted with every last fiber of our being.

First, the specifics.

The “digital dollar” that the US senate banking committee is holding hearings about is the same digital dollar proposal that I talked about in my podcast on The Greatest Depression this past March. As you’ll recall, the Digital Dollar Project is being promoted by the World Economic Forum (surprise, surprise) and sold to the public via the old Cold War trick of “the Russkies Chinese are doing it,

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Here’s How A Cashless Society Would Affect Day-To-Day Life

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26-08-20 08:05:00,

Authored by Daisy Luther via The Organic Prepper blog,

Have you ever thought about the ramifications of a cashless society? I’m talking about the real, first-person effects, not some ephemeral conspiracy theory or possible biblical prophecy. This is bad news for a lot of reasons, not the least of which are the ways it would affect day-to-day life.

Here’s my definition of a cashless society, so we’re all singing from the same songbook:

Cash would no longer be legal tender, therefore you could not make purchases with it, pay bills with it, or spend it in any way.  You would not be able to deposit cash into your bank account so you wouldn’t be able to accept cash for an exchange of goods or services.

Therefore, cash would be nothing more than a worthless piece of paper. (I know, I know. Debt-based currency is a totally different article though.)

We’re heading this way.

Jose recently wrote that Venezuela is rapidly becoming cashless and here in the United States a concerning early sign is that there is a “change shortage” which is causing many stores to give you your change on a store loyalty card or invite you to donate that change to some cause.

Gifts

Think of all the times that cash is an appropriate gift. I’ve always given money, like stuffing a child’s birthday card with a $20 bill or giving a new graduate some cash to put toward college expenses.  When I got married, we received quite a bit of money from various loved ones. My dad always gave my daughters some spending money of their own each time we visited and they were surprised and delighted every single time.

However, in a cashless society, there are two problems with this.

First of all, the recipient would not be able to use the cash. He or she would not be able to spend or deposit it.

Secondly, if a monetary gift is given, it would have to be done with a check or electronic transfer. This means that the government (and the Tax Man) would know precisely how much money any person is given.

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The Dark Side Of The Cashless Society

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01-08-20 09:28:00,

Authored by Addison Wiggin via The Daily Reckoning,

Real quick, grab a $100 bill from your wallet.

OK, humor me, any bill will do. What do you see?

I’d tell you what I see, but when I grab my Book Book, which serves as both a phone case and a wallet, there’s no cash in it. There rarely ever is. Please, keep that in mind for today’s foray into inductive reasoning.

I saw this makeshift sign over the weekend:

Seen at the Walgreens three miles from my house.

“At the airport. Very sparse here, ghost town,” reads an email from a colleague’s mom, “No coins.”

One of Agora Financial’s publishers, Doug Hill, had a similar experience flying to San Francisco last week for a meeting with a private equity fund. He couldn’t get accurate change for a pop rag he wanted to read. No coins.

“With the partial closure of the economy,” Federal Reserve Chairman, Jerome Powell says, “the flow of funds through the economy has stopped.”

Economically-speaking, the national coin shortage is a physical reminder of how slowly the nation’s economy has been; ‘velocity of money’ hit roughly zero.

“We are working with the Mint and the Reserve Banks,” Mr. Powell contends. ”As the economy re-opens, we are starting to see money move around again.”

Fair enough. What else is he going to say?

Back to the Benjamin burning a hole in your wallet. On it, you’ll see digits… a serial number for each bill.

As those bills are returned to the Federal Reserve from their journey around the country, the bills that have gotten too wrinkled, torn or worn thin get their serial numbers retired. The paper gets shredded.

Here’s what I was thinking while watching the film on Netflix the other day:

Wouldn’t it just be easier, and less expensive, if the Fed didn’t have to go through all the trouble of reclaiming and decommissioning the paper? Why not just track the serial numbers electronically?

Anyway, while fact checking the coin shortage story,

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Say No to the “Cashless Future” — and to Cashless Stores

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23-08-19 05:19:00,

By Jay Stanley

I went to a counter-serve restaurant recently, and when the time came to pay for my order, took out my wallet, presented a $20 bill, and was told, “Sorry, we don’t accept cash.” I was flabbergasted. What happened to “legal tender for all debts public and private,” as it says right there on the bill?

This has now happened to me at three separate establishments in recent months. The rise of cashless establishments is happening amid continuing hype over the supposed dawn of a “cashless future” and agitation by some very powerful interests that would love to see cash disappear. The credit card companies love it, naturally, and tech industry associations have also pushed for the concept.

Meanwhile, a backlash has prompted several cities and states including San Francisco, Philadelphia, and New Jersey to ban cashless stores (they’ve also been banned in Massachusetts since 1978). One salad chain, Sweetgreen, reversed its decision to go cashless amid criticism, and Amazon, which had reportedly been opposing legislative bans, has since announced that it will accept cash at its automated, cashier-less convenience stores. (As for the “legal tender” statement, that does not actually mandate the acceptance of cash for payment.)

It is great to see this pushback against the supposed cashless future because this is a trend that should very much be nipped in the bud. There are several reasons why cashless stores, and a cashless society more broadly, are a bad idea. Such stores are:

  • Bad for privacy. When you pay cash, there is no middleman; you pay, you receive goods or services — end of story. When a middleman becomes part of the transaction, that middleman often gets to learn about the transaction — and under our weak privacy laws, has a lot of leeway to use that information as it sees fit. (Cash transactions of more than $10,000 must be reported to the government, however.) More on privacy and payment systems in a follow-up post.
  • Bad for low-income communities.

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Big Tech, Big Banks Push for “Cashless Society”

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25-06-19 04:10:00,

By Stefan Gleason

The War on Cash isn’t a conspiracy theory. It’s an open agenda. It’s being driven by an alignment of interests among bankers, central bankers, politicians, and Silicon Valley moguls who stand to benefit from an all-digital economy.

Last week, Facebook – in partnership with major banks, payment processors, and e-commerce companies – launched a digital currency called Libra. Unlike decentralized, free-floating cryptocurrencies, Libra will be tied to national fiat currencies, integrated into the financial system, and centrally managed.

Critics warn Libra is akin to a “spy coin.” It’s certainly not for anyone who wants to go off the financial grid.

Many of the companies involved in Libra (including Facebook itself) routinely ban users on the basis of their political views. Big Tech has booted scores of individuals and groups off social platforms for engaging in “far right” speech. If Libra one day becomes the predominant online payment method, then political dissidents could effectively be banned from all e-commerce.

You can still obtain some degree of anonymity in the offline world by using paper cash. But that will become impossible in the cashless future envisioned by bankers.

Last week, Bank of America CEO Brian Moynihan touted new developments in digital payment systems while speaking at a Fortune conference. He said, “We want a cashless society…we have more to gain than anybody from a pure operating costs.”

They gain – at the expense of our financial privacy. A cashless society is the end of a long road to monetary ruin that began many decades ago with the abandonment of sound money backed by gold and silver.

Stefan Gleason is President of Money Metals Exchange, a precious metals dealer recently named “Best in the USA” by an independent global ratings group. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC and in hundreds of publications such as the Wall Street Journal, The Street, and Seeking Alpha.

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