China is The New Front in the War on Cash

Banking and technology companies have spent years relentlessly working to replace cash with plastic, digital, or mobile alternatives. China is at the forefront of the war on cash. It has the most residents paying via mobile wallets.Chinese people already use their phones to make payments for everything, even highway tolls. They won't even notice going cashless. Physical forms of currency -- cash and personal checks -- are losing favor among global consumers to alternative forms of payment, including debit and credit cards, digital wallets, mobile commerce platforms, and, in some circles, even cryptocurrencies. Online banking applications and automatic bill-pay options are making writing checks, using cash for high-cost transactions, and other traditional financial services less and less attractive. While cash is far from nearing extinction and, surprisingly, is more robust in some places than one might first think. The overall trend seems almost undeniable when one considers the paradigm-shifting trends such as e-commerce and mobile payments at play. With a cashless society, we are closer and closer to totalitarianism. A cashless society is a psychopath "wet-dream," and we know who these psychos are, don't we? The totalitarians will eventually cross the line, and Hong Kong will look like nothing compared to what comes next. Welcome to The Atlantis Report. Back in 2017, the IMF published a creepy paper offering governments suggestions on how to move toward a cashless society even in the face of strong public opposition. It hasn’t been in the news a whole lot lately, but the war on cash undoubtedly continues. In fact, the Chinese Communist Party (CCP) may be planning to embrace the idea as another weapon to wield against its people. In August, the People’s Bank of China said it was close to launching a digital yuan. This could take the first step toward pushing China toward a cashless society. A cashless society is a Statist's wet dream. When all financial transactions are done digitally through an approved financial system, they can: #1) Tax every transaction. #2) Track every transaction. #3) Track all personal savings and property. The National Security Administration HATES cash transactions. Negative interest policies will also accelerate the demise of physical fiat - no hiding that in the mattress. Cashless is extraordinarily dangerous in capitalist societies. It basically gives total power to corporations over citizens; you no longer buy anything; you ask permission from your corporate overlord to have it. It would also basically legislate compulsory corporate taxes on all transactions, complain about those inevitably rising corporate taxes, do not be surprised if you get totally cut off by that corporate financial cabal, and anyone who dares to help you also gets cut off. You could have a hundred thousand dollars and be denied the means to access or spend it, denied permission to basically live, unable to buy anything.Facebook already said, "we are private corporations and have the right to deny you service", in a cashless society, you are a slave to their whims and they will do it, as they have already publicly demonstrated doing it, for no legal reason other than they choose to screw you over because they can. Recent protests in Hong Kong, along with the resulting fall out from international corporations questioned for their relationships with mainland China, has placed a renewed focus on the authoritarianism of the Chinese Communist Party. This has led to several articles identifying ways in which Western countries have learned from the CCP, including Europe's growing embrace of web censorship and increasing interest in the social credit system rolled out in 2018. Given that it wasn't that long ago that it was common to see Western leaders and neoliberal commentators openly envy aspects of the Chinese political system, these concerns are certainly worth exploring. What should be of equal interest, however, is the ways China may be learning from the West. The next arm weapon the CCP may plan to wield against its citizens is a War on Cash. A successful War on Cash would represent a new escalation in the government's long history of weaponizing currency against the population. Moving far beyond the clipping of coins as a means of stealth tax collection, the purpose of a War on Cash is not simply to strengthen a government's grasp on the wealth of its citizens — but the move becomes a highly effective means of tracking any who find themselves in the crosshairs of the state. These features make a cashless society attractive for any government — which explains why it has become an increasingly popular goal for politicians, bureaucrats, and central bankers in the West. This is precisely why we've seen the cause promoted from such influential economists as Kenneth Rogoff, former chief economist of the IMF, Marvin Goodfriend, an economics professor at Carnegie Mellon, who was once nominated to the Fed by Donald Trump, as well as various economic ministers. The governments of Australia and Sweden have made a cashless society an explicit policy goal within their countries, while some central banks — such as the ECB — have begun phasing out higher denomination bills as an opening move in their own cashless campaigns. While Trump and Powell talk of negative rates, as the Fed makes $100 billion per night in Repo(i.e., Government debt monetization) purchases. Or aka QE to infinity. The US is no more financially secure than China is. What exactly is the purpose of a cashless society? So far, the explanations of how it will promote the national economy make no practical sense. Eliminating large denomination currency notes is a pure red herring that seems intended to cover government malfeasance. The government exists to serve the people, and one of the most demonstrable need is the facilitation of trade among the people. Already a one-ounce gold coin weighs less than the equivalent in $50 bills, and it occupies less space. Ditto for other precious natural resource items like rare earth and precious stones. Because convenient means to trade using large amounts of value exist, banning large denomination notes can only have a purpose other than what is being stated. Second, the currency in my pocket is what I have earned. It is mine to do as I see fit. That is what the facilitation of commerce is all about. It seems that this effort to eliminate large-denomination bills is to make the currency into a policing operation and thereby load it down with regulations and prohibitions. All of these are counter to facilitating commerce. Third, among us are either dumb politicians or tyrannical government employees. They view the power of the government to say NO as their source of power, and power is what they desire. But, power has not been granted to the US government for this purpose. The powers granted are directly related to facilitating only LIFE, LIBERTY, AND THE PURSUIT OF HAPPINESS. Banning what people need in order to enhance government power to say NO is a breach of public trust. Nobody needs a government like that. “Throughout history, governments have always hijacked technology and used it for nefarious purposes.” At this point, the CCP successfully waging a War on Cash is mere speculation — though a recent move to allow tourists access to digital payment systems such as AliPay might help pave the way for that transition. It would be a policy change very much in character with the authoritarian regime in Beijing — and one that has long been sold as “benign” by the more “liberal” globalist elite. Globalist economics sent Nixon and Kissinger to China to pave the way for them to take AMERICAN factories there in exchange for cheap goods, while AMERICAN workers got screwed out of jobs and wages. Since then, America has gone from a producer to a debtor nation, while China is now a net producer. Soon, the dollar will be bye-bye and a digital gold-backed yuan, will be the new world's reserve currency AS PLANNED. ALL of this was shoved down our throats without *any* recourse or ability to "vote" our way out of it. The NWO one world currency is now just a computer click from becoming a reality. And ALL governments are complicit in this as they ALL serve the same masters. The real threat to central banks is that during a prolonged disruption, people would find other means to trade. People might be reluctant to go back to a central bank product afterward. This policy is somewhat alarming as the financial authorities have always claimed that their superior system(s) were infallible. Are we being set up for something? Just wait for a society to go full digital money. Takedown their electric grid, and you own them. No nukes involved. Some people even akin this to the book of revelations. Do what we tell you, or you cannot buy or sell! The banks love it, and the people will be forced to use it. India could be the first totally cashless society. In 2009, half of all Indians didn't have personal identification. By 2016, 95% of the population did. Also, in 2016, India digitized everyone's personal data. Going cashless is next. It'll be done within the next five years. I am against a cashless existence simply because I think of cash as something I have earned, and it is mine to do as I see fit. Also, the role of government is to facilitate free trade of goods and services among its citizens. Facilitating the use of cash cards/debit cards (not credit cards) is fine with me because it accomplishes the same goal of facilitating trade. I am against this BS to outlaw large currency transactions by claiming it reduces improper use of the currency. I am ready to accept being wrong, in my opinion. When the Chinese eased up on their communist ideology, their economy began to wake up after 50 years of hard-line, anal-retentive commie control. Now they are moving back toward Chairman Mao's rigid control of everything, and the people will suffer just like before since no politburo is intelligent enough to run such a massive enterprise by edict. Look at us. We now have central planners in charge pricing assets and picking winners, and Main Street has one foot in the grave, the other on a commie banana peel. Free Enterprise, enlightened self-interest, property rights, solid currency, innovation, competition- these are the tickets to a good economy, and you would think the Reds had learned that the hard way. Literally, anything that helps the CCP stay in power will be implemented in China. Chinese government and society already practice eugenics in a way that would make Hitler blush (although the West is not that far behind). For them, anything is possible. Social Credit Scores rate your dedication to the state and how well you adhere to its laws. Facial recognition is used to record violations, track, and control your movement. You can be denied train and plane tickets or otherwise punished depending on your score. With a cashless society, you can be made a complete non-person, erased from existence, denied any access to your own funds, and left penniless to starve on the street. Unfortunately, this is the model of the West after the mass 3rd world low IQ migration, the cultural Marxists, and Communists fully implement their envisioned Utopia. Welcome to the future.










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