Economic Totalitarianism: The First Step Is Getting Rid Of Cash
By Kade Hawkins
The movement toward electronic money is moving at high speed but few of us have stopped to consider the implications of a cashless society where the loss of privacy and freedom may be facing its greatest challenge yet.
The global establishment increasingly views a "cashless society" as the ultimate answer to many political and social woes but to get there is going to take some arm twisting to those who still like their cash.
Many countries are touting the economic benefits of such a system, such as an end to the underground economy, armed robberies, tax evasion and the cost of printing money while producing a more efficient and controlled system through the central banks - the ultimate winner in a digital economy.
The central banks love the idea of an end to cash as it would mean an end to bank runs - people will not be able to pull their money out for political reasons, which seem increasingly to occur in our society.
The amount of control these central banks would have over the digital economy is scary as all payments and transactions would create a permanent record for governments to track and inspect at will.
In a cashless world there is no place to hide. All your digital assets would not just be vulnerable to manipulation from hackers but what about manipulation from the government?
The latest example of such manipulation comes from China where the government is assigning "citizen scores" that merge your access to government loans and grants with your political and social activities. The worst part of this new policy is that your citizenship score can be directly affected by the beliefs and actions of family and friends as well—creating an incredible social pressure to conform… or else.
If you are considered a dissident by the government you will find your economic opportunities severely limited. Only within a digital economy is such strict control possible.
This centralized control by an autocratic authority where citizens are totally subject to an absolute state authority via financial controls is the ultimate form of economic totalitarianism.
Who needs military enforcement of policies the people don't like when you can just impose financial penalties or restrict one's bank account entirely. Who is going to step out of line to risk their economic vitality when it not only affects you but your loved ones as well.
While many in the West may dismiss what is happening in China as not relevant to them, it serves as an example as to just what is possible when the Government regulates the digital economy for its own purposes.
In many cases the push for getting rid of cash has come slowly and systematically in a series of small steps that are akin to the 'frog in boiling water' analogy. Soon it will be too late and many of us will find we have no choice but to adopt to such changes or face increasingly difficult financial decisions.
For many countries this first small step was restricting large cash transactions. Italy, Spain and France have all placed limits on any cash transactions over 1,000 euros. France even has financial police searching people on trains just passing through France to see if they are transporting large amounts of cash.
In Greece they made it illegal to pay any bill over €70 in cash due to their financial crisis while also severely limiting the amount of cash withdrawals one can make on a daily basis. Limits on cash withdrawals or excessive fees for withdrawing cash are becoming the norm in many countries.
In Israel they are hoping to be one of the first cashless societies where they see the need to restrict the use of cash due to the black market, which is estimated to represent over 20 percent of Israel’s GDP, and cash is the facilitating factor. Israel argues that cash enables tax evasion, money laundering and even financing terrorism.
It will begin phasing in limits to business and individual use of cash with heavy fines for those who exceed the new guidelines. Eventually the goal is to eliminate cash altogether while promoting the use of biometric enhanced payments.
The Apostle John records a time in the last days in which not only Israel but the whole world will have to give their allegiance to the "beast" in his famous vision in Revelation. This vision appears to involve a mark of government allegiance that is necessary to conduct commerce with possible biometric applications: “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.” Revelation 13:1.
The global establishment increasingly views a "cashless society" as the ultimate answer to many political and social woes but to get there is going to take some arm twisting to those who still like their cash.
Many countries are touting the economic benefits of such a system, such as an end to the underground economy, armed robberies, tax evasion and the cost of printing money while producing a more efficient and controlled system through the central banks - the ultimate winner in a digital economy.
The central banks love the idea of an end to cash as it would mean an end to bank runs - people will not be able to pull their money out for political reasons, which seem increasingly to occur in our society.
The amount of control these central banks would have over the digital economy is scary as all payments and transactions would create a permanent record for governments to track and inspect at will.
In a cashless world there is no place to hide. All your digital assets would not just be vulnerable to manipulation from hackers but what about manipulation from the government?
The latest example of such manipulation comes from China where the government is assigning "citizen scores" that merge your access to government loans and grants with your political and social activities. The worst part of this new policy is that your citizenship score can be directly affected by the beliefs and actions of family and friends as well—creating an incredible social pressure to conform… or else.
If you are considered a dissident by the government you will find your economic opportunities severely limited. Only within a digital economy is such strict control possible.
This centralized control by an autocratic authority where citizens are totally subject to an absolute state authority via financial controls is the ultimate form of economic totalitarianism.
Who needs military enforcement of policies the people don't like when you can just impose financial penalties or restrict one's bank account entirely. Who is going to step out of line to risk their economic vitality when it not only affects you but your loved ones as well.
While many in the West may dismiss what is happening in China as not relevant to them, it serves as an example as to just what is possible when the Government regulates the digital economy for its own purposes.
In many cases the push for getting rid of cash has come slowly and systematically in a series of small steps that are akin to the 'frog in boiling water' analogy. Soon it will be too late and many of us will find we have no choice but to adopt to such changes or face increasingly difficult financial decisions.
For many countries this first small step was restricting large cash transactions. Italy, Spain and France have all placed limits on any cash transactions over 1,000 euros. France even has financial police searching people on trains just passing through France to see if they are transporting large amounts of cash.
In Greece they made it illegal to pay any bill over €70 in cash due to their financial crisis while also severely limiting the amount of cash withdrawals one can make on a daily basis. Limits on cash withdrawals or excessive fees for withdrawing cash are becoming the norm in many countries.
In Israel they are hoping to be one of the first cashless societies where they see the need to restrict the use of cash due to the black market, which is estimated to represent over 20 percent of Israel’s GDP, and cash is the facilitating factor. Israel argues that cash enables tax evasion, money laundering and even financing terrorism.
It will begin phasing in limits to business and individual use of cash with heavy fines for those who exceed the new guidelines. Eventually the goal is to eliminate cash altogether while promoting the use of biometric enhanced payments.
The Apostle John records a time in the last days in which not only Israel but the whole world will have to give their allegiance to the "beast" in his famous vision in Revelation. This vision appears to involve a mark of government allegiance that is necessary to conduct commerce with possible biometric applications: “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.” Revelation 13:1.
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