Banks Close in Rural Areas as World Cashlessness Advances

This article was first published by me on Talkmarkets: http://www.talkmarkets.com/content/financial/banks-close-in-rural-areas-as-world-cashlessness-advances?post=76403

Banks are closing in rural areas as they cannot afford to keep their ATM's open in Sweden. Since Sweden is the most advanced cashless society the problems faced with cashlessness is necessary to document. It was in bad taste that the local Swedish news labeled the study Cashless Society Faces Backlash from Losers.

Suddenly, pensioners and rural dwellers are now losers? This is a very unfortunate choice of words. All you millions of people who live in rural communities worldwide could be the real losers and be considered losers in the move towards cashlessness.

The problem Sweden has is that the citizens trust the big banks, thinking they are government agencies, when in fact, they are not. The cashless movement is worldwide, certainly from Singapore to India, from Sweden to Denmark, from the UK to the USA to Israel. That means there is a connectivity to these big banks, and they all want the same thing, more profit, more fees for transactions, more control of your every move. Dollar transactions are free, and cannot be traced.

Government (specifically regulators), exists to serve the bankers said Spencer Bachus of Alabama back in  2010. There is no greater proof of this truth than to watch the efforts to form a cashless society worldwide.

In India, for example, an article entitled India's Journey Towards a Cashless Society Has Just Begun,
the author speaks of tax incentives for Indians who make more than half their purchases through digital means. With India, it may take awhile, but the movement will be toward a cashless society.

In India, the banks will be asked to put terminals in all locations. But isn't that scheme failing in Sweden?

In the Philippines, the government and private banks have set the goal to establish one payment center for all financial transactions. And in Denmark,the government wants to ultimately scrap cash transactions, starting in 2016.

In Singapore, a nation that is technologically advanced but prefers cash as  a whole, there are plans to change all that.  The goal is to eliminate all points of sale, and just have electronic self checkout. Always, cashlessness is couched in language meant to please retail, other business and government, when the movement is purely about benefiting the banks.

In Israel, the move to a cashless society has been urgent, in the name of stopping criminal activity, they say. It faces legal challenges, but the goal at first is to limit check cashing to less than $2000 per check.

In Israel and in all the nations seeking more cashlessness, one major goal is to stop the underground taxless society. But really, destroying a large part of society that then pays into the taxing society seems to be risky, especially where there are large underground economies. This could ultimately hurt the GDP of nations in ways few realize.

And using Denmark as an example for many other nations is flawed, since Denmark has a strong safety net for its citizens. It will be interesting to see if Denmark will go the way of Sweden, ruining banking in rural communities. We will have to watch for stories indicating that people have fallen off the digital grid, the digital money grid, and have suffered inconvenience or hardship.

We know that in Denmark, there is a link between seeking cashlessness and accepting negative interest rates. And we know from Zero Hedge that there is a connection between negative interest rates and housing bubbles. Denmark has a massive housing bubble due to negative interest rates. The central bank, the Riksbank is concerned that massive debt will destroy the economy and the borrowers in the next crash.

Of course, people who have debts that cannot be repaid cannot function in a society that is totally cashless, which is the goal of Denmark! Denmark could force people off the digital grid faster than other nations that don't have such massive housing bubbles. We should watch this potential social catastrophe-in-the-making.

And in Denmark, you are paid to take out a mortgage. You would think the central bank would want that stopped since there is too much debt in Denmark. I don't think they know what they hell they are doing in Denmark!

The experimental nature of the cashless negative interest merger will likely be filled with massive unintended consequences. But this article from a guy on the World Economic Forum, clearly pushes the worldwide nature of the cashless society, from Latin America to Africa and beyond.

The goal of the globalists who seek world control is easy to understand. Make cash a niche product. Make cash something that is so rarely used that it becomes prohibitively costly to use. That is the plan.

The World Economic Forum was established to further global agendas and took on the role of solving the problems caused by the collapse of the Bretton-Woods fixed Exchange-Rate mechanism. The forum does not care about partisan national debate. Rather, the foundation is "committed to improving the State of the World" Its well known meeting is Davos, which calls for more debt, which is profit for the lenders.

So, to close this little look into the players and the dangers of cashlessness and its kissing cousin, negative interest rates, we can look at a Mastercard press release. Indeed, there is no hiding the goals. France, Canada, Belgium and the UK, which seeks to time stamp money, are praised for having digital transactions of 89 percent and higher.

The US and Singapore are reaching the "Tipping Point" of near cashlessness. And Egypt, Russia and Indonesia are just beginning their journey towards cashlessness. The goal is entire world dominance by the banks. But it is couched as a technological revolution, with the banks being facilitators and therefore will not be saddled with blame for the failures. 

Just realize that when the unexpected consequences of a cashless society hit, all nations but the USA will find their citizens unarmed and unable to force a walk back, no matter what human tragedies are revealed. And one wonders if the gun lovers in America even know that the moral bankruptcy of cashlessness is even an issue they should care about. 

But for all patriotic Americans, saving should be virtuous and spending recklessly to please government and the international banking cabal should not virtuous. An attack on virtue on this massive worldwide scale is the final push by the forces of darkness, and one can only look at cashlessness as being their final project.

Cheers.  
 






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