Media Says Cashless Society is Only a Conspiracy Theory

We can see it coming almost daily.  "The wise will understand".  We see news about a coin shortage and we see what's coming. We see signs on businesses that say "No cash accepted" and we know its coming.  The day is coming when cash will be deemed too cumbersome and full of germs to be useful in the modern society.  

But now the media is going to label such thoughts as "Conspiracy theory".  They will attempt to put it in the "nonsense bin" along with UFO's, Bigfoot and cattle mutilations.  

Before there was a coin shortage, cash was under attack in the media and portrayed as a COVID-19 hazard. Now news outlets are making sure everyone knows only to think of a looming cashless society as a "conspiracy theory."

At the height of anxiety over the coronavirus, CNN berated the American people for using cash. "Do NOT take a bunch of cash out of the bank" rang one headline, and "Dirty money: The case against using cash during the coronavirus outbreak" read another.

CBS News similarly ran an anti-cash story at the time, as did other mainstream networks, but more recent stories feign concern about the growing suspicion of an impending digital coup against paper and coined money.

It's always funny how the media manipulates emotions, giving us something to be outraged about one day and trying to calm us down the next day if we're outraged about the wrong thing.

Americans should be concerned about moves away from cash, and there is nothing wrong about questioning who would benefit and who would lose in a cashless society. If that makes you a conspiracy theorist in the eyes of the average journalist, who cares.

It was just last year that Bank of America CEO Brian Moynihan said, "We want a cashless society."

Big banks and financial institutions would reap obvious benefits, beyond saving on the costs of transacting in coins and paper as well as transporting them. They would have that much more data to collect in bulk on their customers.

In the era of Cancel Culture, other more nightmarish consequences are stunningly easy to fathom. The difference between being banned from social platforms and financial platforms is a matter of degree, and the latter is already happening.

There is no downside to a cashless society for its fiercest proponents. They aren't worried about finding an under-the-table side hustle or working for tips. They aren't kids trying to mow a lawn or who are otherwise priced out or regulated out of the market by minimum wage and child labor laws.

Many anti-cash advocates also tend to favor negative interest rates and much freer rein for central banks. Such policies are easier to enact without physical forms of legal tender. Federal Reserve Chairman Jerome Powell expressed his aversion to negative interest rates "for now" back in May, but President Donald Trump and other monetary theorists support the idea.

Negative interest rates mean an end to savings, so that consumerism becomes all-encompassing for economic activity. The permanent stimulus would become a compulsory force, rather than a relief amid a downturn.

So, the threat of a cashless society is real. How urgent the threat is in today's fast-paced and unpredictable environment, people will have to decide for themselves.

Here;  https://www.prophecynewswatch.com/article.cfm?recent_news_id=4212

Remember what we have blogged about in the past?  Negative interest rates?  As the article says, cash makes negative rates much harder to carry out...because people would go the bank and take out their $10,000 and hold it in their drawer rather than paying the bank $200 to hold it for a year.

And of course if everyone went to the bank to withdraw their savings, the financial system would have a fit.  

So the answer that is coming is a cashless society.

So what if they want to call us conspiracy theorists?  We know it's coming cuz the Bible tells me so.