A totalitarians dream – A cashless society
Duncan Richardson, News Editor
19 Nov 2015, 3:48 p.m.
Central Bankers across the globe are waging a war on cash.
The French government has banned cash transactions over 1,000 euros. Whilst Spain has made cash transactions over 2,500 euro’s illegal. Italy, Russia, Switzerland, Mexico, Uruguay have all lowered cash transaction limits in the last 12 months
Many libertarians worry central bankers want to remove physical cash from the system. A cashless society would be the taxman’s dream as they would have knowledge and control over the finances of every citizen.
Sweden is leading the way and according to credit Suisse 80% of all transactions in the Swedish economy are cashless. The number of physical coins and notes in circulation has halved in the last 6 years and some Swedish banks no longer hold cash in their branches.
The Swedish government is actively encouraging their citizens to hand over their cash. The pretexts are familiar, cash is evil, as it enables money laundering and aids terrorism.