Like with most central bankers and politicians, their justifications for nearly any new monetary agenda is steeped in the foundation of imposing greater controls over people, and removing their freedoms to conduct commerce as they see fit. And perhaps no greater example of this can be seen in the global movement to ban cash, and usher everyone into a completely digital society.
Several European countries like Sweden, Norway and Denmark are already well on their way towards the banning of physical cash, and many other EU nations have imposed capital controls disallowing the use of cash in large transactions. And even the advent of crypto-currencies has helped spawn the idea of a cashless Africa, with nations like South Africa and Rawanda working hard towards forcing everyone onto a digital banking model.
But one country is remaining defiant in the wake of this global move to take away physical currency from the hands of the people, and that nation is the one who's history is steeped in banking, and the right of individuals to do with their money as they see fit.
When it comes to cash and its future, Swiss authorities seem to have a totally opposite view to that of their Indian counterparts -- for them cash is "more reliable" and enjoys a low opportunity cost.
Among other benefits over cashless payments, cash provides "more effective budget control" and can be used without any technical know-how, while it also offers a comprehensive protection with regard to financial privacy, a top official of Swiss National bank (SNB) has said.
Amid a debate on future of cash globally and the ambitious demonetisation move carried out by India, SNB's deputy head Fritz Zurbruegg said there remains a continuing robust demand for cash among general public and banknotes are like the country's 'calling cards' in case of Switzerland. - India Times
If politicians and establishment economists really wanted to 'stop' money laundering, and the funding of drug cartels or terrorism, then all they would need to do is shutdown or nationalize the banks themselves for they are the ones who are committing this avenue of crime. But since the West has almost completely merged into a fascist state, where governments and corporations act as one in their own common interests, then that leaves the people who have done nothing wrong to become their scapegoats, and this means that their agenda is really dedicated towards taking away our money so that they can take their fraud and theft to even greater and higher levels.