Cashless Society May Be Much Closer Than We Think

Let's imagine that tomorrow something happens in the world that rattles the confidence of US citizens and investors.  We start to head into a recession after about 10 years of positive growth.  The Federal Reserves tries to ease the recession by lowering interest rates, which is exactly what they did in 2007-2009.  But since interest rates are already at or near 0% at your local bank, they have no choice but to lower them BELOW 0%.

"But Dennis, how in tarnation would the bank have negative interest rates?  That's stupid!"

They would actually charge YOU for holding your money there.  Instead of them paying you interest, you would pay them.

"OK Dennis, now you are really being stupid!  If my bank did that to me I would go there and pull out my $20,000 and put it in my gun safe at home!  There's no way I would pay some bank $200 every year to hold my money!"

And of course if everyone went to the bank and pulled out their money to hold in cash...the banks would fail and the government would lose control of managing trillions in cash....so that can't happen.

What's the answer??  We need to get rid of cash!!  No more using $20 bill to buy your burger at Culvers.  No more $50 bill in your graduation card.  No more $100 bill to buy drugs from your local drug dealer. 

Next step.  Cash is phased out and one day everyone on earth will need some sort of mark on the right hand or forehead to buy or sell anything in this new cashless society.

Think I'm crazy?

Please note, the article below is NOT from a Christian prophecy magazine. 

The IMF Blog pointed out that, “One option to break through the zero lower bound would be to phase out cash." They go on to say that by doing so, “Central banks would have much more flexibility in policy as they could easily reduce the rate from 2 percent to negative 4 percent to counter a severe recession. The interest rate cut would automatically transmit to bank deposits, loans, and bonds.” Without cash, depositors would have to pay the negative interest rate to keep their money with the bank, making consumption and investment more attractive. This would jolt lending, boost demand, and stimulate the economy.

When cash is available, as is the case in many countries, cutting rates significantly into negative territory becomes much more difficult. Instead of paying negative interest, one can simply hold cash at zero interest. Cash is a free option on zero interest, and acts as an interest rate floor. 

If negative interest rates are to become a long term reality whereby the banks are free to charge customers as they wish, cash will have to be removed from society. As long as cash still circulates in society, banks are at a disadvantage and will risk a run on the bank should they attempt to charge depositors negative rates. However, beware, because negative rates, first designed as a short-term jolt, have now become an addiction.

https://www.zerohedge.com/news/2019-06-17/negative-rate-world-cash-king

Friends, if you can't see the writing on the wall, your eyes are closed.

This IS coming because the Bible tells me so.  We don't know when, but don't be surprised if it happens here in America like it's already happening in Switzerland and a few other European countries.