The War On Cash Entering Bold New Phase
With so much news about Ukraine, inflation, massive government spending and exploding deficits, it’s easy to overlook the ongoing war on cash. That’s a mistake because it has serious implications not only for your money, but for your privacy and personal freedom, as you’ll see today.
The war on cash is a global effort being waged on many fronts. My view is that the war on cash is dangerous in terms of lost privacy and the risk of government confiscation of wealth.
Governments always use money laundering, drug dealing and terrorism as excuses to keep tabs on honest citizens and deprive them of the ability to use money alternatives such as physical cash, gold and, these days, cryptocurrencies.
The real burden of the war on cash falls on honest citizens who are made vulnerable to wealth confiscation through negative interest rates, loss of privacy, account freezes and limits on cash withdrawals or transfers.
The enemies of cash promote the ease and convenience of digital payments. Of course, there’s no denying that digital payments are certainly convenient. I use them myself in the forms of credit and debit cards, wire transfers, automatic deposits and bill payments. I’m sure you do too. – READ MORE
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