KW: Already we are being bombarded with adds such as the current VISA on television to get Visa on your phone where a gormless twitt says ‘Don’t use cash like a caveman’ and jump into a boat with his balloon. That is the main thrust of the advertisement, nothing else, this is happening right here in New Zealand now.
By Jim Rickards
I’ve written a lot about the war on cash and the cashless society. Cash is the main barrier against negative interest rates. That’s because you can always withdraw your cash from the bank if it tried to impose negative interest rates. But when all your money is digital, it’s trapped within the banking system. It’s like being herded into digital pens, like pigs to the slaughter.
Well, the war on cash is basically over. And the government won. You might have a few bucks in your wallet, but the vast majority of transactions are digital..
I’m not a bitcoin proponent. I recommend gold and silver instead. But here’s a good description of what a cashless world looks like and how your savings will be stolen once they’re all digital. It’s coming soon to a bank near you.