Denmark Moves Closer To A Cashless Society

[Taco]

Its hard to have a bank run when there's no cash in the bank which is the entire point. Soon, all Banks will be using digital money not worth the paper its not printed on. You'll need an RFID chip implanted in your hand to make purchases. Its just another way to control people.

Denmark Moves Closer To A Cashless Society
http://www.independent.co.uk/news/world ... 31995.html

[Moretorque]

Lenin said the credit monopoly will get you 90% of the way to communal dictatorship, he may have been wrong because it may be more like 98.

Taco are you a Christer ?

[Taco]

Q. Why are governments suddenly declaring war on physical cash, the oldest officially issued form of money?
A. In short, physical cash is extremely difficult for governments to steal.

Q. Why are governments suddenly so keen to ban physical cash?
A. The banks and government authorities are anticipating bank bail-ins, steeply negative interest rates and hefty fees on cash, and they want to close any opening regular depositors might have to escape these forms of officially sanctioned theft.

Bank Bail-ins are theft, pure and simple. Since the government enforces the taking, it is officially sanctioned theft, but theft nonetheless. Negative interest rates are another form of officially sanctioned theft.

The benefits to banks and governments by eliminating cash are self-evident:

1. Every financial transaction can be taxed
2. Every financial transaction can be charged a fee
3. Bank runs are eliminated

The War On Cash: Officially Sanctioned Theft
http://www.zerohedge.com/news/2015-06-1 ... oned-theft

[Ghost]

.

[Moretorque]

I was reading there was a conspiracy in Demark to import 3rd worlder's and get rid of the whites. I know I am just imagining this Ghost.

[Taco]

This just in.

[Adama]

Does a cashless society mean that the thugs won't be able to rob you on the street?

Or does it mean they will kidnap you, tie you up, beat you senseless to get your pin number and then kill you?

[Ghost]

.

[Taco]

Does a cashless society mean that the thugs won't be able to rob you on the street?

Or does it mean they will kidnap you, tie you up, beat you senseless to get your pin number and then kill you?

The chip will be implanted in your hand and must be used to buy or sell anything. You just scan your hand on the bar code machine at the supermarket when you buy groceries and the money(digital currency) is automatically deducted from your account. I've heard all your personal info will also be contained on the chip but not sure if this is true. If you get out of line they(the government) just turns off your chip or the chip just kills you. I'm guessing their will be a huge black market for fake chips(made in China) or a lot of armed robberies occurring if this takes off.

[Moretorque]

I was reading there was a conspiracy in Demark to import 3rd worlder's and get rid of the whites. I know I am just imagining this Ghost.

The problem is you are imagining half of what you post about. It's the other half that need more torque applied to them.

So if half is good than that is good, I imagine believing in Ghosts is imaginary and that is the half to be disposed of.

[Taco]

[Contrarian Expatriate]

Q. Why are governments suddenly declaring war on physical cash, the oldest officially issued form of money?
A. In short, physical cash is extremely difficult for governments to steal.

Q. Why are governments suddenly so keen to ban physical cash?
A. The banks and government authorities are anticipating bank bail-ins, steeply negative interest rates and hefty fees on cash, and they want to close any opening regular depositors might have to escape these forms of officially sanctioned theft.

Bank Bail-ins are theft, pure and simple. Since the government enforces the taking, it is officially sanctioned theft, but theft nonetheless. Negative interest rates are another form of officially sanctioned theft.

The benefits to banks and governments by eliminating cash are self-evident:

1. Every financial transaction can be taxed
2. Every financial transaction can be charged a fee
3. Bank runs are eliminated

The War On Cash: Officially Sanctioned Theft
http://www.zerohedge.com/news/2015-06-1 ... oned-theft

All true, but there's more....

-Spending via cash results in people spending less overall according to market research. Therefore, by forcing people to spend via card or smartphone, you are removing the physical parting with cash which makes people want to spend less.

-Governments can better keep track of money if there is little to no cash. If they know about your money, they can tax it.

-Governments claim to be better able to disrupt and de-finance terrorist and criminal enterprises which are cloaked by cash.

-Governments claim that currency updating, production, and distribution costs will be eliminated.

-Central banks can better conjure up more cash if it is electronic and there would be no need to print actual money afterward.

[starchild5]

All true, but there's more....

-Spending via cash results on people spending less overall according to market research. Therefore, by forcing people to spend via card or smartphone, you are removing the physical parting with cash which makes people want to spend less.

-Governments can better keep track of cash if there is little to no cash. If they know about your money, they can tax it.

-Governments claim to be better able to disrupt and de-finance terrorist and criminal enterprises which are cloaked by cash.

-Governments claim that currency updating, production, and distribution costs will be eliminated.

-Central banks can better conjure up more cash if it is electronic and there would be no need to print actual money afterward.

Wow...That's very correct...I just felt this few days back as India is pushing hard to go cashless and I was kinda forced to use my card for purchase but it did not feel like i spend money...so you spend more once it becomes a habit....its only when I came home and checked the account...i saw how much it really hurts to spend away like this