Friday, October 6, 2017

Central bank's desire for cashless society losing steam as cash use in Britain has actually increased, not decreased

Despite the fact that using money digitally is a very good convenience, it appears that only in the Nordic states of Europe are we finding societies that are willing to ban cash entirely.  And in recent polls in both the United States and in Britain, not only do a majority of citizens want physical cash to remain in their economies, but the trend towards using cash for payments over digital is actually increasing versus decreasing in some of these areas.

The demise of cash has been greatly exaggerated and families still rely on it every day, the Bank of England’s chief cashier has said. 
Victoria Cleland, whose signature is on every banknote issued by the Old Lady, said that the common notion paper money was dying was mistaken.
‘Cash is not in decline,’ she said. 
The end of notes has been predicted for decades, first with the rise of bank cards and now the internet revolution. 
Bank notes in circulation last year jumped 10 per cent, the fastest growth in a decade, hitting more than £70billion as Christmas neared. 
Cash, she said, accounted for 40 per cent of all payments, and a survey by Dutch bank ING found 79 per cent of UK consumers said they would never go completely cashless. – Daily Mail
Central bankers in the U.S., India, and especially within the ECB have been conducting propaganda campaigns to vilify the use of cash under the auspices of it being tied to money laundering and terror funding.  But this has really just been a subterfuge because their true intent is to be able to force citizens into keeping their money in a banking institution so they can implement negative interest rate policies and have access to depositor cash if the need for bank bail-ins arise.

The establishment's 'war on cash' is in part what has driven people towards moving into cryptocurrencies, and over in the UK and Germany, into physical gold.  And it definitely appears that people all around the world are waking up and realizing that personal control and ownership of money is a vital function in ensuring that one keeps their ability to have a freedom of choice.

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