As countries as diverse as India, Sweden, Denmark, and Spain begin to work towards the banning of physical cash and instituting a completely digital monetary system, one entity is seeking to trump them all by formulating a program that would not only eliminate cash and atm machines, but would entirely change banking as we know if for all of Europe.
And if their goals are reached, it could become the new standard across the Eurozone as early as late 2017.
The European Payments Council (EPC), a subdivision of the European Central Bank, are taking steps in their quest to fully eliminate all cash. The reason is not to lift the burden off retailers or to make transactions more convenient but in reality to raise desperately needed taxes.
Highly respected ‘ArmstrongEconomics‘ reports that the EPC are going full steam ahead to enable immediate payment systems throughout not just the Eurozone but the entire European Union. The Single European Payments Area (SEPA) has been devised with the ultimate goal of eliminating ATM cash machines and force everyone to use their mobile phones or plastic cards, the project starting as early as November 2017.
In the absence of confirmed information on this point, it is likely that tourists and business people will be forced to pre-pay Euro’s onto an App if they come from a country outside the eurozone, currently made up of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
The final goal of the EU Commission is best described in their own words: “The Single Euro Payments Area (or “SEPA” for short) is where more than 500 million citizens, over 20 million businesses and European public authorities can make and receive payments in euro. SEPA also means better banking services for all: transparent pricing, valuable guarantees ensuring that your payments are received promptly and in full, and banks assuming responsibility if something goes wrong with your payment.”
This year, meetings and conferences called “Towards a cashless society” were started to get the information transfer across to the infrastructure, supported very heavily by the banks.
It looks as though the initial battleground for banning cash will be … Greece. - Global Research
The majority of people in the West already function in an environment without cash as online banking, and the use of debt or credit cards, outweighs the number of transactions taking place using physical currency. However, underlying this trust is the fact that for now, if someone desired to take out their wealth stored in a bank they could do do and have it distributed to them in physical cash notes.
All along the war on cash that has emerged in 2016 has never been about stopping drug cartels, black markets, or the myriad of other excuses those in power have used to justify the banning of physical money. No, the real reasons stem from the fact that nearly all monetary systems in the West run on a leveraged system where there are upwards of 100 times more money created in digital form than there is actual cash available, and any strong run on the banks could collapse the entire financial system.
Additionally, eight years of failed central bank policies have driven the Western monetary system to the brink of another collapse, and it is forcing these institutions as well as governments to seek never before heard of measures such as negative interest rates, and beyond 100% debt to GDP.
The truth of the matter is that the desire to institute a cashless society is not for the benefit of the 7 billion members who inhabit planet earth, but for the .001% of the 1% who want to use a cashless society to have utter control over money, and everyone's use of it. And it is why the need to store your wealth in some other vehicle than cash or in a bank is vital, and this means an alternative form of wealth protection such as gold, silver, and bitcoin which banks, nor governments, can readily steal.