I blogged on this in a somewhat recent post called “War On Cash”. This is just a quick update on the subject of the forward progress towards a cashless society. Swiss Economist Marc Faber recently said “Basically we are moving into an Orwellian society where they can check everything and cash will be one of the means where you can go somewhere and buy something and nobody would really know about it. Now they want to abolish it.”
Privacy and freedom sort of go hand in hand if you think about it. There has certainly been a reduction of personal freedoms and individual liberties across the world namely in the United States and so, cash allows privacy and this is not part of the agenda moving forward. Therefore there is a war on cash and you will see this increase in due time. You can also follow the threads on these related posts here on my site.
The ECB wants to do away with the €500 and there is also discussion to eliminate the $100.00 bill as well. According to Zerohedge the $100 bill accounts for a whopping 78% of all physical U.S. currency in circulation. There are presently numerous restrictions, rules and laws concerning cash in the U.S. Expect to see a reduction of the size ($100.00 bill to cease i.e.) of new and and already circulated notes as well as further restrictions as to how much can be withdrawn from banks as well as a significant reduction of cash to be carried across international borders. There is not only a war on your mind there is a war on your cash. This is yet another reason to begin building a proper ratio of gold and silver as an insurance policy against the war on cash.
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