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[Economic]
The Perfect Robbery, The Cashless Society
By Samantha King
Posted September 30, 2017

war on cash is spreadingWhat seemed almost like science fiction to our parents is coming scarily close to the realm of feasibility: more and more countries are talking about stopping the production and use of cash in their economies. The message is carried by the most prominent link of the monetary chain: States. But the push is coming from somewhere else. Powerful lobbies are pushing ever stronger, in order to achieve total and absolute control of our economies.

Cash is problematic to banks. It is expensive to manage, hard to take from customers and, worst of all, it is a possible gaping wound, if a bank run occurs. In a world without cash, customers would be forced to remain within the banking system, where all sorts of fees can be discretely and quietly shaven off millions of accounts. But banks and online payment solutions can hardly present those arguments in their race to kill cash. Instead, they invoke online financial performance, digital innovation, fighting tax evasion, fighting crime and corruption and all the other woes attributable to physical currency. More…