Friday, January 27, 2012

Rumors of cash controls coming even as Smart Phones set foundation for cashless society

Cash, liquidity, capital... all words that describe the mediary tool of conducting transactions for goods and services in the marketplace, as well as the foundations of business and government funding.  For years, technology has increased in scope almost to the point where electronic transactions could one day replace physical cash in selling and purchases, and additionally, the agenda and policies to force Americans to that new paradigm are currently being discussed.

On January 24th, John Galt FLA of the Shenandoah Blog and of the Voice of Galt on the Just Measures Radio Network, reported that he has been receiving strong news from inside sources that the government is looking very hard into cash controls on citizens in the United States.  Cash controls are a program where people are limited to a certain amount of cash they are allowed to spend per week, month, etc..., and businesses would be the ones to document and turn away those who might spend more than the allotted amount.  This process is already taking place in countries like Greece, who are forcing their citizens to limits on cash transactions.

The emphasis however, is on cash, not credit, debit, or other means of asset usage.  And the rise of the Smartphone is making it very easy to carry a virtual wallet with you, by which cash can nearly become obsolete.

PayPal, which is beginning to roll out in-store e-payment systems, starting with Home Depot (HD -0.56%), will be one of those companies relying on smartphones as part of the new payment systems.
In fact, if you look around, smartphone "wallets" are suddenly everywhere. Get in line to board a flight, and odds are that you'll spot someone ahead of you offering up their smartphone with an image of their boarding card rather than an antediluvian paper boarding pass. A PayPal developers' conference even featured the demonstration of someone using a smartphone (along with Twitter and a PayPal account) to buy a gumball from a machine. – MSN Money


While these new measure might not be the proverbial 'mark of the beast' predicted in the biblical book of Revelation, the groundwork for the end of cash is very quickly being installed in nations and businesses around the world.  Holding cash is a like holding gold for citizens... a control over your monetary finances, but when it moves completely to an electronic system, your power over your money get removed, and your future choices become limited to ones governments and businesses want you to make.

1 comments:

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