It appears that the Governments, banks and businesses around the world are pushing us towards a cashless society!
Why? you may ask yourself.
The argument is, it is convenient, but the truth is it is mostly about control and greed!
Cash is universal and it gives us some degree of privacy about our financial affairs. Also and more importantly, cash is an important safeguard against economic volatility. At times of distress, when confidence in the banking system erodes, people are likely to withdraw cash and hold it. If we have a cashless society, it eliminates the ability of bank account holders to withdraw cash from the bank in a crisis and could create a huge risk with banks holding too much power.
Also, if we went to a cashless society, the amount of unaccounted (black) money would inevitably be reduced and the tax base would increase significantly. By eliminating cash, all transactions have to be linked to a bank account which invariably makes it traceable by the tax departments, whether it be 'black', a gift or inheritance.
The most worrying aspect is, if you don't have a bank account then you have no money; a problem with the banking system, again no money; they block your and again no money.
At present it is estimated that over two billion people don't have bank accounts, so what will these people do? It could mean total exclusion from society for these people.
It would appear that the only real 'winners' from a cashless society will be the banks and Governments and NOT us as individuals as all the advertising suggests!
Wake up and protest against this creeping corporate corruption.