In the recent established media 2 terms keep surfacing: “Negative Interest Rate” and “Cashless Society”.
Negative Interest Rate:
A negative interest rate means the central bank and perhaps private banks will charge negative interest: instead of receiving money on deposits, depositors must pay regularly to keep their money with the bank. This is intended to incentivize banks to lend money more freely and businesses and individuals to invest, lend, and spend money rather than pay a fee to keep it safe.
Cashless Society:
A society where all physical form of cash is banned. Only digital currencies and electronic transactions are allowed in any business and private activities that involve trading between 2 or more parties.
Derek’s translation:
Negative Interest Rate:
Not only you (the depositors) are not getting any interest on the money you put in the banks, we (the bankers) are going to charge you a fee for keeping YOUR money in our banks. In other words, you will lose your money if you deposit them in the bank.
Cashless Society:
Then banks/governments will keep tract of every single buy/sell activity that you conduct. If you don’t comply with their policies or not being “political correct”, they can simply freeze your account or penalize your virtual account immediately. You have no control over your asset in a digital world.
In order to implement negative interest rate, which is totally against Economics 101, the elites have to push for a cashless society because they know that if the general public understand the core of NIR, a bank run will be induced. If cash is banned, there is no bank run. Marvelous idea!
There will be many “good” reasons to abolish cash. It is dirty and clumsy. Who wants to bring a bag of coins or a stack of cash to buy stuff? Statistics shows that the popularity of electronic payments and online banking are on the rise year after year. This is especially true with younger generation and tech savvy group who loves to use their mobile devices to pay for everything. Pretty soon we will see biometrics chips being implanted in our own body for day to day transactions.
There is no question that electronic payment is far more convenient and time saving than traditional cash. I love to just scan my credit card at the pump and leave after fill up. I love to just tab my card while checking out at the cashier. I love to stay home and have products ship to my door.
However, if cash is banned, we will lose our basic freedom to free trade. Imagine that the bank can track and control every single digital transaction (which they are already doing). It is a lie that people who use cash are criminals and drug dealers. Don’t you see in the movies that the gang members use their smartphones to wire money into offshore accounts?
This is not about terrorism or crackdown on criminals. This is not about cash being inconvenient. This is all about control . And I see that the cashless society matches the Beast System the Bible prophesies in Revelation 13:
16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
A great article for reference can be found here:
The Global War on Cash
What can we do to stop this?
Use cash as much as possible and keep minimal money in the bank! I am willing to accumulate less points on my credit card so I can use cash more frequently.
Start bartering in your community.
Spread the word.
