I've been keeping a good eye on global financial happenings. One thing I know - cashless society is coming soon. How do I know that? If was slipped in almost incidentally on a Channel Nine news broadcast a few nights ago! It was done so calmly and at the end of global political and financial news.
I've never heard an 'imminent' announcement like that before. It's almost like you would have had to be watching for it to catch it. And people are so consumed with the possible collapse of Europe and the needs the USA and China are in, that a statement like that seems perfectly reasonable in that context.
And that's the way it will come. It will be PERFECTLY REASONABLE.
What would tip the world as a whole into a position where a cashless society would be acceptable? For the general populace, if it allayed fears, it would be enough; and so many countries are effectively socialist / fascist now ; with social security systems and give businesses partnering with government. Just a bit of a tilt to cause a panic and it would be reasonable to take action to make things more secure, less able to be put out of kilter. After all, we really have had enough of the booms and busts, the panics and instability. Even if we haven't had it in our own country, we've had it on our TV screen, accompanied by dramatic interviews and footage. No one really feels immune. Everyone just wants a bit more certainty... please!
So will it come as a reaction to a local or regional problem? Possibly. But it's more likely everyone, everywhere will feel it. Look at what happened to the markets with BREXIT. Things went really wobbly.
If Europe crashes financially or the EU falls apart, that would do it.
If the USA, which can't pay its interest bills, has the screws put on by the international bankers, that would work too. Probably. But how?
The answer lies in an institution everyone thinks belongs to the US Government. International bankers (Rothschild's, Rockefeller's etc.) actually own the USA Federal Reserve. They choose to print and supply their 'fiat currency' (ie. not real money) to the USA Government. You got it - the only material costs are the paper they use and the ink! Why is more money needed? Because the USA Government can't pay its interest bills, the government has to borrow more money to pay them! Does this remind you of your Visa card? So the Federal Reserve prints more money for each interest payment. They lend it to the USA Government so the government can use it to pay the interest back to the 'banksters'; are you beginning to understand why they have that nickname? Just by just refusing to print more money, so more money can't be lent to the US Government to pay the interest bills back to the Federal Reserve, the globalists could crash the USA financial system and this the default international trading currency.
Why haven't they already? I don't know - ask them yourself!
OK, so you want me to take a stab at it. I reckon it's because the good old 'petro dollar' was studying for them. It is the default international trading currency, used by the SWIFT system due international settlements because... wait the it... Because the USA made a deal with the Saudis in the 1970s (remember the Middle East Oil Crisis) that the Saudis would only accept US Dollars as payment for oil provided the USA established a fully functional military base in Saudi Arabia to protect them.
Now the BRICS Countries (originally BRIC: Brazil, Russia, India & China; now BRICS because South Africa has entered) have established a trade block and are firing ahead with an alternative to the USA for international trade. China and some other Asian countries are doing the same. If any of these succeeds in healing the dominance of the USD for international trade, all security and usefulness for the USA will be gone... right down the toilet.
Back to the bit about 'coming soon'. So a number of crises currently being around the globe could be the trigger ; and any one of them will likely have a global effect.
Is there any telling when the cashless society will start? Currencies going out of control would be a good precursor. Banks collapsing, or significant runs on the banks would also be a fairly sure sign. Runs on banks have happened before, even in Australia according to an accountant friend of mine; about the time if the GFC if I got it right. My friend was watching and got his money out if a mid sized bank - pronto. Of course it would be bad for public stability if we heard about certain things too clearly in the media; I certainly didn't hear about it.
So a major case of the worries about the financial system globally; a bank collapse ; a run on a bank; really significant fluctuations in currencies or a currency crash would all be solid indicators.
If the system goes a bit silly during a crisis, banks will likely reduce the amount of cash you can withdraw ; mandate electronic transfers only or even shut their doors temporarily.
What can you do to prepare? Firstly, try to keep a few weeks of cash supply at hand. Secondly, have sufficient stocks of foods like rice, lentils and powdered milk in your home. Lastly, if 'fiat money' (yes, including the Aussie Dollar) doesn't transition clearly, it may last most of its worth. What then? Certainly foods as stated. But previous metals also. Silver and gold. To me, silver is preferable even though it's bulkier because it's used in manufacturing and hasn't
Can you prepare?
B. T. W. Since wiring this article some days ago, I've heard Google are bringing their wallet to Australia, with broad support from banks. That is a very large step towards found cashless. Almost everyone has a smart phone ; even my 83 year old mum. All the government would need to do is sponsor the technology uptake like it did worn the digital TV set top boxes,and pretty soon, everyone would be capable of cashless.