{"id":150222,"date":"2019-06-24T14:15:09","date_gmt":"2019-06-24T18:15:09","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=150222"},"modified":"2019-06-24T13:44:33","modified_gmt":"2019-06-24T17:44:33","slug":"big-tech-and-banks-push-for-cashless-society","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/big-tech-and-banks-push-for-cashless-society\/","title":{"rendered":"Big Tech and Banks Push for \u201cCashless Society\u201d"},"content":{"rendered":"
June 24, 2019<\/div>
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By Money Metals News Service<\/b><\/p>\n

The War on Cash isn\u2019t a conspiracy theory. It\u2019s an open agenda. It\u2019s being driven by an alignment of interests among bankers, central bankers, politicians, and Silicon Valley moguls who stand to benefit from an all-digital economy.<\/p>\n

Last week, Facebook \u2013 in partnership with major banks, payment processors, and e-commerce companies \u2013 launched a digital currency called Libra. Unlike decentralized, free-floating cryptocurrencies, Libra will be tied to national fiat currencies, integrated into the financial system, and centrally managed.<\/p>\n

Critics warn Libra is akin to a \u201cspy coin.\u201d It\u2019s certainly not for anyone who wants to go off the financial grid.<\/p>\n

\"War<\/p>\n

Many of the companies involved in Libra (including Facebook itself) routinely ban users on the basis of their political views. Big Tech has booted scores of individuals and groups off social platforms for engaging in \u201cfar right\u201d speech. If Libra one day becomes the predominant online payment method, then political dissidents could effectively be banned from all e-commerce.<\/p>\n

You can still obtain some degree of anonymity in the offline world by using paper cash. But that will become impossible in the cashless future envisioned by bankers.<\/p>

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Last week Bank of America CEO Brian Moynihan touted new developments in digital payment systems while speaking at a Fortune<\/a> conference. He said, \u201cWe want a cashless society\u2026we have more to gain than anybody from a pure operating costs.\u201d<\/p>\n

They gain \u2013 at the expense of our financial privacy. A cashless society is the end of a long road to monetary ruin that began many decades ago with the abandonment of sound money backed by gold and silver.<\/p>\n

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The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Money Metals News Service The War on Cash isn\u2019t a conspiracy theory. It\u2019s an open agenda. It\u2019s being driven by an alignment of interests among bankers, central bankers, politicians, and Silicon Valley moguls who stand to benefit from an all-digital economy. Last week, Facebook \u2013 in partnership with major banks, payment processors, and e-commerce […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-150222","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=150222"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150222\/revisions"}],"predecessor-version":[{"id":150232,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150222\/revisions\/150232"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=150222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=150222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=150222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}