Thursday, September 8, 2016

Will Banks & Governments Steal Our Money in Cashless Society?

A few years ago, the tiny nation of Cyprus had a problem paying their the government decided to take 10% of the money that was in certain folk's bank accounts and use it to prop up the government for another day.


So what would stop any government, including the USA, from doing the same thing when they come up short on paying their bills?

"Well Dennis, that would never happen....because I would just take my money from the bank and put it in my gun safe....and then they couldn't take any of it!"

Yep....anyone who says that is 'whistling past the graveyard'...because one day, most likely much sooner than most realize, cash will no longer be legal tender to buy anything.

As highwaymen once ambushed travelers to separate the victims from their cash, so today many such opportunities continue to abound. As bank vaults once hunkered like mother bears around people's hoards of gold, now computers labor to a similar function by magnetically holding records of our economic achievements, waiting to be accessed from connected terminals anywhere on Earth at any given time. 

The destiny of cash may have arrived at its last logical end. What can we expect when our globally interdependent economies finally render cash obsolete? Have robbers truly gone the way of Bonnie and Clyde, or have they become so sophisticated that they now manifest as banks and governments?

For the moment, the common folk seem willing to trust their funds to their banks, internet providers and the politically privileged. Just ask the Swedes. 

But some people think they may be whistling past the graveyard. Given that governments, and the banks that fund them, have a dirty little penchant for war and total control over their subjects, can it be wise to surrender to them your entire means of exchange?  

Whereas some consumers and industries may find no fault in the evolution to a cashless society, others raise dire warnings. What do the naysayers predict?

Will the first lamb sacrificed on the altar of total digital economies be anonymity? What consumers eat, read, play, worship and even with whom they associate will be known to the powers that be. At any moment, certain foods, books, websites, religions and associations could be declared illegal or so unsavory as to be criminally suspicious. 

If the past predicts the future, then suppliers and those buyers who prefer to make their own decisions will either be driven out of the economy, into a prison or underground.

Those who believe this dystopian future poses no threat to them because, in their minds, they "have nothing to hide" and entertain full confidence in their government, may find themselves unpleasantly surprised by sudden, official disapproval of some aspect of their lifestyle. 

Who could have foretold a future where you would be convicted and confined for merely wondering if the official body count of the Holocaust were accurate? Who foresaw that failure to bake wedding cakes for homosexuals would enable bureaucrats to wipe out your business? Tables do turn upside down!

So long as money exists in any form, common thieves will find ways to abscond with it. Can they be stymied simply because money is reduced to blips on a server? For all the efforts to thwart hackers, they still manage, regularly, to crack into cyber safes and make off with information critical to access financial accounts. 

Who knows how much of their success depends on a little inside help? Maybe a few, maybe a lot of security penetrations occur with the assistance of an insider. Even if employees were angels, electronic outlaws continue to haunt the virtual forest.

Creating security access that depends on biometrics might add a thin layer of armor to accounts, but that may only render burglaries and muggings more gruesome. Without the ability to fling your wallet at assailants, now they may torture you for your passcodes and account numbers. 

If financial security systems require fingerprints, microchip implants or iris scans for admittance, what would prevent soulless crooks from removing said items from your body? Certainly not your firearms, for those, most likely, must be relinquished before any bank account will be authorized in a completely cashless society.

Since the ability to make large purchases without personally delivering a suitcase full of cash or coin has been a reality for at least a century, the question arises: qui bono, who benefits, from a cashless society? 

Some futurists wonder if the full implementation of a global cashless society won't seal the sarcophagus on the ragged remnants of individual liberty.

How many of my readers are already at a point where they almost NEVER use cash?

I'm going to say the answer to that is MOST OF US.

It is easier to pull out our credit/debit card at McDonalds than it is to fish in our wallets and pockets for paper money and metal coins to pay for our lunch!

How many of my readers get all their paychecks automatically deposited into their checking accounts?

Probably ALL OF US.  So really our economic value is measured by electronic numbers being transferred around the one account and then out of another...and then back in again.

So what good is cash anyway?  It's expensive, dirty and used by drug dealers and pimps!  Let's just do away with it?

It all makes perfect sense!!

Of course the Bible has been saying this day is coming since Jesus revealed it to John in Revelation.

Revelation 13
16 It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17 so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.

"What do you mean you won't take my cash?  What do you mean I have to get a mark to buy these groceries?  What do you mean I have to get a mark on my right hand before I can trade in my car?"


Blogger Dave Gust said...

I recently was told by an employee at Subway that he could not take my $50 bill because "it used up too much of their change." I then pointed out that I was spending $42 something and that my change was only $7 and a bit.

He still hesitated and then sternly told me he would make an exception just this one time.

I know this only anecdotal and I was dealing with a wet behind the ears punk but I agree with you that our grandchildren, if we last that long, will be amazed that we actually used paper and metal money.

"Pappa can you tell us how you used to use paper money when you would ride your horse to work."

September 9, 2016 at 9:44 AM  
Blogger dennis said...

That's funny! I had a high school kid at Taco Bell who insisted that on "buy one get one free" taco day, that my 4 tacos and 1 Medium Pop was $1.89. When I told him that can't be....because my drink alone was $1.89, he pushed all the buttons again on the register and looked at me with exasperation, "It says it's $1.89!". So i gave him $2 and told him to keep the change and walked out with 4 tacos and a drink!

Clearly he was pushing the button for 2 tacos and then subtracting 2 tacos for the free ones!! How many tacos did that kid give away that day??....all because he couldn't do simple reasoning in his head. If the BUTTONS told him a number....THEY MUST BE RIGHT!!!

September 9, 2016 at 12:40 PM  

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