The Beginning Of The End
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A Cashless Society May Be Closer Than Most People Would Ever Dare To Imagine

Most people think of a cashless society as something that is way off in the distant future.  Unfortunately, that is simply not the case.  The truth is that a cashless society is much closer than most people would ever dare to imagine.  To a large degree, the transition to a cashless society is being done voluntarily.  Today, only 7 percent of all transactions in the United States are done with cash, and most of those transactions involve very small amounts of money.  Just think about it for a moment.  Where do you still use cash these days?  If you buy a burger or if you purchase something at a flea market you will still use cash, but for any mid-size or large transaction the vast majority of people out there will use another form of payment.  Our financial system is dramatically changing, and cash is rapidly becoming a thing of the past.  We live in a digital world, and national governments and big banks are both encouraging the move away from paper currency and coins.  But what would a cashless society mean for our future?  Are there any dangers to such a system?

Those are very important questions, but most of the time both sides of the issue are not presented in a balanced way in the mainstream media.  Instead, most mainstream news articles tend to trash cash and talk about how wonderful digital currency is.

For example, a recent CBS News article declared that soon we may not need “that raggedy dollar bill” any longer and that the “greenback may soon be a goner”….

It’s what the wallet was invented for, to carry cash. After all, there was a time when we needed cash everywhere we went, from filling stations to pay phones. Even the tooth fairy dealt only in cash.

But money isn’t just physical anymore. It’s not only the pennies in your piggy bank, or that raggedy dollar bill.

Money is also digital – it’s zeros and ones stored in a computer, prompting some economists to predict the old-fashioned greenback may soon be a goner.

“There will be a time – I don’t know when, I can’t give you a date – when physical money is just going to cease to exist,” said economist Robert Reich.

So will we see a completely cashless society in the near future?

Of course not.  It would be wildly unpopular for the governments of the world to force such a system upon us all at once.

Instead, the big banks and the governments of the industrialized world are doing all they can to get us to voluntarily transition to such a system.  Once 98 or 99 percent of all transactions do not involve cash, eliminating the remaining 1 or 2 percent will only seem natural.

The big banks want a cashless society because it is much more profitable for them.

The big banks earn billions of dollars in fees from debit cards and they make absolutely enormous profits from credit cards.

But when people use cash the big banks do not earn anything.

So obviously the big banks and the big credit card companies are big cheerleaders for a cashless society.

Most governments around the world are eager to transition to a cashless society as well for the following reasons….

-Cash is expensive to print, inspect, move, store and guard.

-Counterfeiting is always going to be a problem as long as paper currency exists.

-Cash if favored by criminals because it does not leave a paper trail.  Eliminating cash would make it much more difficult for drug dealers, prostitutes and other criminals to do business.

-Most of all, a cashless society would give governments more control.  Governments would be able to track virtually all transactions and would also be able to monitor tax compliance much more closely.

When you understand the factors listed above, it becomes easier to understand why the use of cash is increasingly becoming demonized.  Governments around the world are increasingly viewing the use of cash in a negative light.  In fact, according to the U.S. government paying with cash in some circumstances is now considered to be “suspicious activity” that needs to be reported to the authorities.

This disdain of cash has also grown very strong in the financial community.  The following is from a recent Slate article….

David Birch, a director at Consult Hyperion, a firm specializing in electronic payments, says a shift to digital currency would cut out these hidden costs. In Birch’s ideal world, paying with cash would be viewed like drunk driving—something we do with decreasing frequency as more and more people understand the negative social consequences. “We’re trying to use industrial age money to support commerce in a post-industrial age. It just doesn’t work,” he says. “Sooner or later, the tectonic plates shift and then, very quickly, you’ll find yourself in this new environment where if you ask somebody to pay you in cash, you’ll just assume that they’re a prostitute or a Somali pirate.”

Do you see what is happening?

Simply using cash is enough to get you branded as a potential criminal these days.

Many people are going to be scared away from using cash simply because of the stigma that is becoming attached to it.

This is a trend that is not just happening in the United States.  In fact, many other countries are further down the road toward a cashless society than we are.

Up in Canada, they are looking for ways to even eliminate coins so that people can use alternate forms of payment for all of their transactions….

The Royal Canadian Mint is also looking to the future with the MintChip, a new product that could become a digital replacement for coins.

In Sweden, only about 3 percent of all transactions still involve cash.  The following comes from a recent Washington Post article….

In most Swedish cities, public buses don’t accept cash; tickets are prepaid or purchased with a cell phone text message. A small but growing number of businesses only take cards, and some bank offices — which make money on electronic transactions — have stopped handling cash altogether.

“There are towns where it isn’t at all possible anymore to enter a bank and use cash,” complains Curt Persson, chairman of Sweden’s National Pensioners’ Organization.

In Italy, all very large cash transactions have been banned.  Previously, the limit for using cash in a transaction had been reduced to the equivalent of just a few thousand dollars.  But back in December, Prime Minister Mario Monti proposed a new limit of approximately $1,300 for cash transactions.

And that is how many governments will transition to a cashless society.  They will set a ceiling and then they will keep lowering it and lowering it.

But is a cashless society really secure?

Of course not.

Bank accounts can be hacked into.  Credit cards and debit cards can be stolen.  Identity theft all over the world is absolutely soaring.

So companies all over the planet are working feverishly to make all of these cashless systems much more secure.

In the future, it is inevitable that national governments and big financial institutions will want to have all of us transition over to using biometric identity systems in order to combat crime in the financial system.

Many of these biometric identity systems are becoming quite advanced.

For example, just check out what IBM has been developing.  The following is from a recent IBM press release….

You will no longer need to create, track or remember multiple passwords for various log-ins. Imagine you will be able to walk up to an ATM machine to securely withdraw money by simply speaking your name or looking into a tiny sensor that can recognize the unique patterns in the retina of your eye. Or by doing the same, you can check your account balance on your mobile phone or tablet.

Each person has a unique biological identity and behind all that is data. Biometric data – facial definitions, retinal scans and voice files – will be composited through software to build your DNA unique online password.

Referred to as multi-factor biometrics, smarter systems will be able to use this information in real-time to make sure whenever someone is attempting to access your information, it matches your unique biometric profile and the attempt is authorized.

Are you ready for that?

It is coming.

In the future, if you do not surrender your biometric identity information, you may be locked out of the entire financial system.

Another method that can be used to make financial identification more secure is to use implantable RFID microchips.

Yes, there is a lot of resistance to this idea, but the fact is that the use of RFID chips in animals and in humans is rapidly spreading.

Some U.S. cities have already made it mandatory to implant microchips into all cats and all dogs so that they can be tracked.

All over the United States, employees are being required to carry badges that contain RFID chips, and in some instances employers are actually requiring employees to have RFID chips injected into their bodies.

Increasingly, RFID chips are being implanted in the upper arm of patients that have Alzheimer’s disease.  The idea is that this helps health care providers track Alzheimer’s patients that get lost.

In some countries, microchips are now actually being embedded into school uniforms to make sure that students don’t skip school.

Can you see where all of this is headed?

Some companies are even developing RFID technologies that do not require an injection.

One company called Somark has developed chipless RFID ink that is applied directly to the skin of an animal or a human.  These “RFID tattoos” are applied in about 10 seconds using micro-needles and a reusable applicator, and they can be read by an RFID reader from up to four feet away.

Would you get an “RFID tattoo” if the government or your bank asked you to?

Some people out there are actually quite excited about these new technologies.

For example, a columnist named Don Tennant wrote an article entitled “Chip Me – Please!” in which he expressed his unbridled enthusiasm for an implantable microchip which would contain all of his medical information….

“All I can say is I’d be the first person in line for an implant.”

But are there real dangers to going to a system that is entirely digital?

For example, what if a devastating EMP attack wiped out our electrical grid and most of our computers from coast to coast?

How would we continue to function?

Sadly, most people don’t think about things like that.

Our world is changing more rapidly than ever before, and we should be mindful of where these changes are taking us.

Just because our technology is advancing does not mean that our world is becoming a better place.

There are millions of Americans that want absolutely nothing to do with biometric identity systems or RFID implants.

But the mainstream media continues to declare that nothing can stop the changes that are coming.  A recent CBS News article made the following statement….

“Most agree a cashless society is not only inevitable, for most of us, it’s already here.”

Yes, a cashless society is coming.

Are you ready for it?

  • Catherine

    Yes, we are almost cashless but, with a chip, I will always be tracked. Where I go and what I’m doing is no one’s business. Phones are tracked but, I can still leave it at home and am able to walk around without being tracked but, not so with a chip. Oh well, it’s going to happen sooner or later.


    Read Rev 13 – 16,19 in the bible. and WAKE UP !!!

  • TCS

    There’s not even cell phone coverage across the country let alone the world. Now try to explain how rural transactions can be done digitally. Commerace will go on with cash, not credit or debit.

  • http://Godlikeproductions John Patterson

    Obama is the ANTI-Christ. He wants to take the chip so YOU WILL YOUR SOUL!! He is an unstable ******! If you reelect him, then it will be the end of the have been WARNED!!!!

  • mrpom

    I have 2 thoughts on this article. The 7% figure I don’t think takes into account the underground commerce that already exists and is growing. System “D” is said to trade in the app. $10 Trillion range second only in size to the US market. As far as excepting a chip and not being able to trade without it, I think I read in a book somewhere something about a mark on the hand or forehead and having to do with the Devil.

  • Ben Dover

    I don’t pray often, but when i do, i pray that the Sun will take out this putrid mess of electronics…if the Debil exists, that is his name…kill The Beast before he kills us…

  • concerned citzen

    it all a scam put together by these greedy banksters and credit card companies. Just think about it every time you use that card or that chip ot tatto or what ever they uasually charge the company who is using it a 3% or better commission,and in return the end user end up paying more money for the product. a perfect example of this is buying gas, most Gas station charge 10-12 cent more per gallon if you use a debit or credit card. Why should we pay more for goods if we are to use these stupid bank instruments. It already bad enough they charge crazy fees. any way they can screw the people. another thing is the cards some times dont alway work and you gotto keep swiping them.leve cash alone it easy and convient.

  • Lucy

    I do not have a debit card. I will not get a chip or a tattoo. I pay almost everything with a check or cash. I refuse their conspiracy to “save me money” by going electronic. I refuse to be controlled. I was BORN FREE and will fight for freedom til they pry my last dollar bill from my cold, dead hands!

    • tex

      All they have to do is quit printing them. They wear out faster than you think. And who, other than your brother in law takes checks these days?

  • Arthur Rodricks

    Cashless society.

    Christians & Non Christians.
    Please read Revelations, the last book in the Holy Bible.

    Those who don’t want Jesus as their Lord & Saviour, after the rapture of the Church, will be brought under submission by force, by satan, through the Governments of this world.

    To bring everyone under submission, satan needs control over all buying and selling, and if cash exists, satan can’t have control, so there is a cashless society ahead.

    Best, trust, believe, confess and accept JESUS as Lord and Savior, be born of the Spirit, and exit this world in the Rapture of the Church.

  • dude01

    read in an article yesterday that the undergroung cash market was approximatley 70 trillion dollars. the thing about this is cash is virtually untraceable making it difficult to track accuratly. this article was thowing around a very misconstrued fact. its not that all cash transactions make up the 7%. its the fact that cash transactions make up 7% of all major transactions meaning over a thousand plus dollars. this is the figure they are using to make it seem a feasible idea. it is actually a false figure meant to draw the population into a we are already doing it mindset.

    • http://theeconomiccollapse Erin


  • http://ACashlessSociety Not funny

    I cannot believe anyone is making fun of this very serious subject. I had to sell my house because of injuries that made me unable to work and pay my personal property tax. Were do I invest this small amount of money? With no cash people will be investing differently. How long will these little hamburger chains stay in business? How long have our nation along with many others tried to go to one world currency? How will that affect our lives? If we think things are hard now, we are in for a huge surprise. Things are just beginning to get bad. It is time to take this seriously and to pray as we have never prayed before. God is the only one that can get us out of this. I don;t think we will be lucky enough for the world to end at the winter soltice of 2012. That would be to easy.

  • TomL

    It seems like a really bad time to try to force people into a cashless society, when the grid is as fragile as ever.
    There are so many reasons that credit card and debit card processing can go offline. Power outages, ISP circuit outages.
    Hacker attacks. Even potential government infrastructure shutdowns to protect from hacker attacks.
    And now many people have reason to be concerned about EMP attacks and X flares.
    This is a really good time to make sure sure we can live without credit cards.
    This is a great time to simplify our lives in so many ways.
    I love technology, and I make a good living from supporting networks, but we really need to be ready to go without.

    • tex

      It’s all about taxation Tom. With an electronic trail and enough auditors it is impossible to avoid the tax man.

      As for infrastructure problems yes power outages and computer hacks are an issue- but EMP attacks and X flares… Come on- get serious.

      We have been in one of the cycles of violent solar flares for a few years now and not even a hint of a sizzle. There is even less chance of this happening than of a zombie apocalypse. People have over active imaginations and too much time on their hands.

  • Jodi

    I saw this video on a website today! It appears Canada will be going cashless.

    • tex

      I doubt that that will happen officially. They have just introduced new non-paper (polymer) bills.

      But Canada has one of the highest adoption and usage rates of debit and cash cards in the world. They are heading there (cashless) voluntarily- lambs to the slaughter.

      • http://theeconomiccollapse Erin

        tex, i very clearly see that we too are lambs to slaughter. i havent met more ignorant and close minded people in my life as i have in the last 5 years or so. trying to inform the average american of even the most obvious of government betrayals, is like repeadedly hitting your own hand with an iron mallet. just a guess, id say 60% of americans, dont see anything wrong on any level.

    • http://theeconomiccollapse Erin

      **********, i love the canadians, but really, they allowed it. I just lost a bit of hope…

  • Rexer

    If this country goes to a cashless society; you just lost your freedom.Cash has been and is the grease of living free.It allows us to conduct business in public and private,says rite on my money.also says in god we trust.We use cash almost all the time, except when we book a room at a hotel or something to that effect.I dont know anyone that doesnt except cash.Cash is king.

  • hecatesmoon

    There’s no reason to be afraid….that sudden swell of fear? That’s just me being old fashioned. That’s just me resisting change. There’s no reason to be afraid….there’s no reason to be afraid…

  • Pearl

    Chip implantations? If I refuse, I will be exalted from the monetary system forever?? Sounds good to me. I am getting pretty sick of it anyways. I make things for a living, and there are millions of others like me, and I have traded my handmade goods for other handmade goods. We need to realize that being exalted from a “prison” of money and greed and being set into the wild isn’t as bad as it seems. Once people realize that all we need is proper clothing to maintain a healthy body temperature, food/water in our bellies, the sun on our backs, and some type of shelter from the elements when they are at their worst to survive, the rest is all unnecessary distractions.

  • Chukwuemeka Duru

    The write up on the Cashless society is very enriching and i will like if you could do a write up on Cashless entrepreneurs, how can youths get empowered as service providers in the Cashless policy.

    Am just thinking if there is a way people can get self employed as service provider by owning a POS Terminal that is subscribe to a bank and every transaction from that POS Terminal the holder or service provider earn a commission

    Like it’s already being done in the telecom and electricity sectors

    I am trying to work out a youth empowerment program from the Cashless policy in the Financial sector,Please email me anything that can be of help to put together a proposal for the Central Bank of Nigeria on this.

  • The Processor

    Eventually not only will we not need cash, we won’t need humans… This is great for us (merchant service providers). Check out our blog: Even God Takes Plastic

  • Divad

    A cashless society will destroy the economy of a country. People will use and create other forms of currency. Probably gold or silver. You want a visit a prostitute without your wife knowing? Your not going to stop because of the cashless society. How about playing poker with your chums? Your not going to stop because of the cashless society. How about buying weed? You are not going to use the magic cashless chip to do that. You will use currency. There will always be a black market. So there will always be a real need for cash. If a society goes cashless, it will self destruct. Other currencies will surface.

  • John Candido

    There is no stopping the evolution to a cashless society. It will be a convergence of the internet, credit and debit cards that have Visa PayWave & MasterCard PayPass, and a smart phone that can be used in much the same way as a credit or debit card with PayWave or PayPass. These developments will eventually consign cash to history. Our smart phones will contain every debit and credit card we own, as well as all of our discount vouchers and receipts in digital form. As a result, there will not be any need to carry any more bits of paper to carry in our wallets. Google will produce a Google wallet, Visa will have an e-wallet, MasterCard, and PayPass will offer a similar product, as well. These are called virtual wallets.

    I don’t think that plastic cards will be eliminated in future. When a power blackout or some other inevitable technical issue occurs, plastic cards can be imprinted mechanically with paper, or some other technology will be developed to record the transaction perfectly. Placing barcodes on all plastic cards that are read by a barcode reader that is powered by some other means could possibly perform this service.

    I am absolutely confident that we are on the verge of a tipping point regarding the eventual elimination of cash from our economy. As long as there is a national regime of privacy legislation, the security and integrity of the internet is assured, powerful institutions such as state and federal governments will seek and obtain taxes in full in the future, which will help to fund our treasury and help to pay for all community infrastructure, projects, and policy developments. In addition, the government will not have to bear the cost of printing and manufacturing cash.

    What I think will happen is that we will have a de facto cashless society first, where a majority of transactions will be done without cash, both in numbers of transactions and in the quantity of money involved. We will probably have a de facto cashless society in about 5 years. After a period of a further 30 to 40 years, or somewhere thereabouts, cash will be eliminated from our economy after the nation has had a detailed debate about this issue.

    It will be convenient not to have to ask for and carry any more paper receipts or physical discount vouchers, because they will be emailed to our mobile phones and personal computers. How incredible, powerful, and efficient will both Visa’s, Google’s, and PayPass’s virtual wallets be, once they become commonplace? Can the banking system can adapt and catch-up? That is a rhetorical question. To promote a cashless society, is in every bank’s financial interest.

    Police and intelligence agencies will advocate a cashless society in order to limit or prevent crimes associated with cash. Cash always provides criminal anonymity as in the drug trade, terrorism, burglaries, organised crime, illegal gun running, and cash thefts. The crime of counterfeiting money will be completely eliminated. The black economy is based on the criminal anonymity that cash allows. This will dissipate when physical cash is removed from society. An important part of the elimination of criminal anonymity in the future will be making emerging digital or virtual currencies illegal.

    A cashless society is one where greenhouse gasses are kept to a minimum. A society with cash is embedded to a polluting infrastructure. The manufacture of cash requires the transportation and use of raw materials in manufacturing processes, with the final product transported to financial institutions. Apart from the obvious risk to society from criminals, the transport of cash in security vans leads to greater air pollution in our cities and our communities. This is not counting people who desire to make either a deposit or withdrawal to their accounts throughout the nation on a daily basis.

    A cashless society does not have to be the policy of any political party or government instrumentality. It does not have to be something that is forced on any nation that is not broadly accepting and ready for it. It should only be achieved after a plethora of wide-ranging national debate. It will broadly come of its own accord through technological development. The public will demand its security, integrity, and its many conveniences.

    Banks and most businesses will want a cashless society because it will substantially lower their costs, by not having to deal with cash on a daily basis. There will not be any need to count, store, or transport cash. This will make all banks and businesses safer to operate, and enjoy lower cost overheads. A cashless society will be evolutionary, convenient, and unstoppable. It will provide a plethora of social and economic advantages, relative to a society that maintains cash. All of these things together will prove irresistible for most if not all modern economies, and they will prove fatal for the continued existence of cash, the more we move towards the future.

  • Macgilver

    San Diego, spring 2012. One electrical worker in Arizona accidentally took out S.D. power for 24 hours. Cards would not work. Without cash, no gas. Cars were abandoned on the freeway. Cash became king again. So unless you want to carry around 1/10 ounce gold bullion, and pay $150 for a loaf of bread, milk and some gas because the merchant cant make change……….

  • Anon

    Constitutional silver, dumba**. People don’t need to carry around 1/10th ounce gold anything. 90% Silver (pre-1964) U.S. dimes will take care of that loaf of bread.

    These financial scandals, and the ‘Fed’ won’t be going away anytime soon, UNLESS YOU GET UP OFF YOUR FAT, LAZY A**ES, and DO SOMETHING!

    HR 459 passed by an overwhelming majority in the House, by a vote of 327-98!
    Now, this bill (S.202) needs a vote in the Senate!



    End the Fed! Whether Congress Wants Us To or Not!

  • Annie

    so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name Revelations 13:17

    Just a sign of the times folks….Read your Bibles.

    • Michael

      I agree. But what do you do when you are locked out financially.

  • septic tank of cash

    Abolish cash. All transactions done by card. All payments and money receipts would then be traceable and it would end, in an instant, black market activities which contribute NOTHING to a country’s economy. Just think, there would be no more ‘jobs for cash’ where no income tax or VAT is paid, adding millions to a country’s bank balance and reducing the deficit. Another spin off would be a virtual end to theft. If there was no cash, no-one could sell any stolen goods because all transactions would be traceable. The same applies to drug dealing, bribes and ‘back-handers’ to corrupt officials, illegal weapons trading – the advantages go on and on…..

  • Wake up

    You really think a cashless society will stop theft, WOW you’re really naive and don’t have a clue.

  • beccalou2

    if you think a cashless society stops crime, think again! there will still be virtual criminals hacking into your accounts. And if cards didn’t exist anymore, then pickpockets will have to be more sneaky by stealing your fingerprints off something you touched. Or maybe a robber will have to be even more aggressive and scan your eye, or just kill you and take your eye. The point is, if people are going to do illegal things, they’re going to do it no matter what. The real crime is the banking cartel that will have global control over our ability to live; our money! You’re basically asking to be enslaved by the bankers, and if you don’t fall in line, they’ll just cut you off from your digital bank account. Don’t you realize that a fiat currency isn’t real anyway? Our cash isn’t backed by anything real now, and it definitely won’t be when everything is digital. So you’re letting the bankers just get richer off of your debts. Wake up! This is what Jesus fought the Romans over. Whoever controls the money controls everything.

  • HTML

    I will never have a chip or RFID tag tattooed to me

  • denis

    I have only one thought in all this cashless stuff! can the people who are the digital hacker still be able to commit a Digital 211? and if they did? how would cops be able to respond code 3 and catch then!

  • Joe Decker

    I heard 2014. All credit and cash gone. I love how people say, “They will never replace it that quickly.” Was the NSA watching you take a shower this morning, yes. Will cash and credit be replaced overnight, yes.

  • EruditeMan

    Are we told to expect that anyone who refuses to accept the right-hand or forehead mark of the beast can expect immediate execution? Many people believe thee rapture of the church happens before the tribulation but I don’t think the Bible clearly shows this to be true. The U.S.A. has seen the private bank Federal Reserve create trillions of dollars out of thin air in the past 5+years. The CPI is a US Government illusion showing only about 1.8% inflation but more accurate inflation rate calculations suggest the current 2013 CPI is actually about 10%. China may dump dollars and the FED hasn’t stopped buying $85billion/month in US debt even though it has considered reducing the amount it buys each month. I think that hyper-inflation is going to appear very soon and the US dollar will become history and be replaced by electronic currency. Some website prognostications identify 2017 as the year that the mark of the beast will become reality. That thought is rather frightening but may be worth thinking about as we prepare ourselves to refuse the mark.

  • digitalis

    forgive my ignorance if banks are pushing for digital money it would be equal to factory workers pushing for robots to do their job.forget the gold bullions or bitcons stock up on cow manure and make sure you have a bit of dirt to grow your own food as you cant control digital age it is so vulnerable whole system will collapse.

  • a ace

    My people(living on the islands) in Fiji Islands are living on Fiji Time.They do not live on Cash or money,they live on plantations and by the sea.They live on Fiji time.I would run away to the islands when all these crap come to reality.

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