The World's First Cashless Society Is Here - A Totalitarian's Dream Come True

Tyler Durden's picture

Submitted by Nick Giambruno via,

Central planners around the world are waging a War on Cash. In just the last few years:

  • Italy made cash transactions over €1,000 illegal;
  • Switzerland proposed banning cash payments in excess of 100,000 francs;
  • Russia banned cash transactions over $10,000;
  • Spain banned cash transactions over €2,500;
  • Mexico made cash payments of more than 200,000 pesos illegal;
  • Uruguay banned cash transactions over $5,000; and
  • France made cash transactions over €1,000 illegal, down from the previous limit of €3,000.

The War on Cash is a favorite pet project of the economic central planners. They want to eliminate hand-to-hand currency so that governments can document, control, and tax everything.

This is why they’re lowering the threshold for mandatory reporting of cash transactions and, in some instances, simply making it illegal to pay cash.

In the U.S., central planners ratchet up the War on Cash every time the government declares a made-up war on something else…a war on crime, a war on drugs, a war on poverty, a war on terror…

They all end with more government intrusion into your financial affairs.

Thanks to these made-up wars, the U.S. government is imposing an increasing number of regulations on cash transactions. Try withdrawing more than $10,000 in cash from your bank. They’ll treat you like a criminal or terrorist.

The Federal Reserve is at the center of the War on Cash. Its weapons are inflation and control over the currency denominations.

Take the $100 note, for example. It’s the largest bill in circulation today. This was not always the case. At one point, the U.S. had $500, $1,000, $5,000, and even $10,000 notes. But the government eliminated these large notes in 1969 under the pretext of fighting the War on Some Drugs.

Since then, the $100 note has been the largest. But it has far less purchasing power than it did in 1969. Decades of rampant money printing have inflated the dollar. Today, a $100 note buys less than a $20 note did in 1969.

Even though the Federal Reserve has devalued the dollar over 80% since 1969, it still refuses to issue notes larger than $100. This makes it inconvenient to use cash for large transactions, which forces people to use electronic payment methods.

This, of course, is what the U.S. government wants.

It’s exactly like Ron Paul said: “The cashless society is the IRS’s dream: total knowledge of, and control over, the finances of every single American.”

Policymakers or Central Planners?

On stories related to the War on Cash, you may have noticed that the mainstream media often uses the word “policymakers,” as in “policymakers have decided to keep interest rates at record low levels.”

When the media uses “policymakers,” they are often referring to central bank officials. It’s a curious word choice. As far as I can tell, there is no difference between a policymaker and central planner.

Most people who want to live in a free society agree that central planning is not a good idea. So the media uses a different word to put a more neutral spin on things.

To help you think more clearly, I suggest substituting “central planners” every time you see “policymakers.”

The World’s First Cashless Society

In 1661, Sweden became the first country in Europe to issue paper money. Now it’s probably going to be the first in the world to eliminate it.

Sweden has already phased out most cash transactions. According to Credit Suisse, 80% of all purchases in Sweden are electronic and don’t involve cash. And that figure is rising.

If the trend continues - and there is nothing to suggest it won’t - Sweden could soon be the world’s first cashless society.

Sweden’s supply of physical currency has dropped over 50% in the last six years. A couple of major Swedish banks no longer carry cash. Virtually all Swedes pay for candy bars and coffee electronically. Even homeless street vendors use mobile card readers.

Plus, an increasing number of government restrictions are encouraging Swedes to dump cash. The pretexts are familiar…fighting terrorism, money laundering, etc. In effect, these restrictions make it inconvenient to use cash, so people don’t.

So far, Swedes have passively accepted the government and banks’ drive to eliminate cash. The push to destroy their financial privacy doesn’t seem to bother them. This is likely because the average Swede places an unreasonable amount of trust in government and financial institutions.

Their trust is certainly misplaced. On top of the obvious privacy concerns, eliminating cash enables the central planners’ latest gimmick to goose the economy: Negative interest rates.

Making The Negative Interest Rate Scam Possible

Sweden, Denmark, and Switzerland all have negative interest rates.

Negative interest rates mean the lender literally pays the borrower for the privilege of lending him money. It’s a bizarre, upside down concept.

But negative rates are not some European anomaly. The Federal Reserve discussed the possibility of using negative interest rates in the U.S. at its last meeting.

Negative rates could not exist in a free market. They destroy the impetus to save and build capital, which is the basis of prosperity.

When you deposit money in a bank, you are lending money to the bank. However, with negative rates you don’t earn interest. Instead, you pay the bank.

If you don’t like that plan, you can certainly stash your cash under the mattress. As a practical matter, this limits how far governments and central banks can go with negative interest rates. The more it costs to store money at the bank, the less inclined people are to do it.

Of course, central planners don’t want you to withdraw money from the bank. This is a big reason why they want to eliminate cash…so you can’t. As long as your money stays in the bank, it’s vulnerable to the sting of negative interest rates and also helps to prop up the unsound fractional reserve banking system.

If you can’t withdraw your money as cash, you have two choices: You can deal with negative interest rates...or you can spend your money. Ultimately, that’s what our Keynesian central planners want. They are using negative interest rates and the War on Cash to force you to spend and “stimulate” the economy.

If you ask me, these radical and insane measures are a sign of desperation.

The War on Cash and negative interest rates are huge threats to your financial security. Central planners are playing with fire and inviting a currency catastrophe.

Most people have no idea what really happens when a currency collapses, let alone how to prepare…

How will you protect your savings in the event of a currency crisis? This just-released video will show you exactly how. Click here to watch it now.

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knukles's picture

We should all protest by holding hands and watch the "Shining a Light" concert until they say they're sorry.
Makes sense to me....         Assholes
Shit's outta control, folks.

Including vetting of terrorists for US citizenship....  This is gonna end sooooo well....

Normalcy Bias's picture

They're going to keep pushing until there is resistance. Then their true ugliness will be revealed.

coinhead's picture
coinhead (not verified) Normalcy Bias Nov 18, 2015 8:38 PM

War on cash!  Buh Bitcoin!!

Ayreos's picture

I'm fine with a cashless society, since as a producer i can barter the goods i produce, but as always, the problem is not an incoming cashless society itself, but the already present tyrannical governments and bureaucracy whose only desire is to suck the blood of every citizen. Personally, i'd prefer a currency-free society.

MalteseFalcon's picture

"So far, Swedes have passively accepted the government and banks’ drive to eliminate cash. The push to destroy their financial privacy doesn’t seem to bother them. This is likely because the average Swede places an unreasonable amount of trust in government and financial institutions."

It seems to me that there has been no Swedish resistance, yet Sweden's government has revealed true ugliness.

Let me translate into Swedish:


Soul Glow's picture

Don't do anything the banks don't like either or they'll turn off your card.

knukles's picture

Citibank once turned off one of my cards when it was all paid, etc. 
So I asked why and they didn't know
So I figured, F 'em.
Next, they keep sending me applications for new cards, etc., and I sent them back with a note that says please remove me from your mailing list.
I still get the mail ...
Congratulations, Sr. Blowjob, you've been preapproved for a .... yadda yadda yadda

JimS's picture

Knukles: You are almost there.... send it back is correct, but tear up a few of the pieces of what they send you, and keep doing it. Just think if everyone did just that small token of resistance, it would cost them a fortune in postal costs, and help keep the local postal people in a fairly good paying job. A double fucking for the bank cocksuckers.

Bemused Observer's picture

I always do that. Pre-paid envelopes are great...just stuff 'em full of whatever and send it back.

It doesn't have to be cement or anything like that, just send them back everything they sent you.

Only a few die-hards keep sending me offers now.

It takes them awhile to catch on, God knows they aren't too bright, but eventually someone will get the message and remove your name from their mailing list.

A Nanny Moose's picture

Aren't those Pre-paid envelopes charged by weight? Send back with sand or pebbles.

BarkingCat's picture

Here is what you do...and I have done this to Capital One.

I had a box that was a originally contained 2 dozen apples.
I took a chunk of concrete that just so happen to be about that size and put it in that box. Then I took 32 of the Capital One offer letters and put them on top of the concrete.
On top of those I placed a letter that said - "If you continue to send me your garbage, I will send you mine".
Sealed the box. I taped one of their postage prepaid envelopes to it and dropped it off at the post office.
The offers stopped.

I am sure it cost them over $50 to get that box.
Next one was going to be bigger.

If you do not have a handy chunk of concrete then you can buy a brick or a cinder block and send that.

It works and it will give you great pleasure to punish them financially.

pacu44's picture

Own guns? Smoke? Eat meat lovers pizza? Christian? White? 4x4 truck? No transactions for you... We are own you.

Bring the Gold's picture

I'm pretty sure they won't let black dudes have cash either broseph. Even if they are nation of Islam types. Same with Latino Americans, Indian Americans etc. etc. , but if this revs your engine and gets you out resisting a cashless society great. Whatever gets you going. 

Bangin7GramRocks's picture

For most of the U.S., it's already a cash less society. But the rich thieves still pay for bullshit real estate with millions in cash. Different rules for different fools!


Coinhead in 5...4....3....2...1......

" Buh teh bitcoin puleeze an mak me monneys fast, tanks, sheeples. "

Y'know what ?

Fuck the banks, fuck big business, fuck the governments, fuck Wall Street, and fuck the Fed.

Kill them all dead with straight trade and barter for what you need only, local business only.

Freedom is just another word for nothing left to lose.

coinhead's picture
coinhead (not verified) SILVERGEDDON Nov 18, 2015 8:39 PM

Buh Bitcoin!!

Drummond's picture

Who needs cash when you've got gold, silver and Jesus Christ?

Ms No's picture

I have a feeling a whole bunch of hookers and drug dealers are about to become fiscal conservatives... if that means anything anymore.

NuYawkFrankie's picture

Attn: Swedish Bikini Team
Subj: I have spare room if you need to escape (p/m @ ZH for details ;)

random999's picture

Sorry pal they all wear burkhini nowadays.

BarkingCat's picture

And have beards...!! ...You forgot the beards!!

VWAndy's picture

Barter Town is coming up on the right pretty soon.

scintillator9's picture

What is also insidious about this, that people often overlook, is the FEES associated with "cashless" transactions.

Anyone who is a merchant should be well aware of debit and credit card fees, or electronic payment fees from PayTrough, etc.



BarkingCat's picture

Obviously they just build it into the price. I bet the executives at these retailers promoting cashless business are from younger generations or old fools trying to be hip.
The young'uns have not dealt with compression margins and depressionary forces of competition. These are most likely niche retailers and/or high end. When you profit margins is over 20% that 3% bank fee is an afterthought. Wait until get squzed down to Walmart level. They will see that 3% as a huge part of their profits.

oddjob's picture

Cashless society, sounds like a great excuse to not have a job, or better yet, not participate in any economically productive activity whatsoever.

manofthenorth's picture

Black Market is the ONLY free market.

Skip's picture

Those who control Sweden must HATE Swedes.

This Swedish woman singer really puts it all in perspective, it is interspersed with news footage of riots in Sweden. This is culled from 2 live performances. Poor America, Poor Sweden...
Ode To A Dying People

GRDguy's picture

What would one expect when ONE family (Wallenbergs) control a third of Sweden's GDP.  They're also the family that let one of their own (Raoul) rot in Soviet prison for the good deeds he did in Budapest. Chief Justice John Roberts had a hand in that, too.  No good deed goes unpunished.

Small world, too.  Wallenberg on the board of directors of Coca-Cola, too.

Anonymous User's picture
Anonymous User (not verified) GRDguy Nov 18, 2015 11:26 PM

I can think of JUST ONE good thing that came from Sweden recently:


xrxs's picture

Bitcoin, Brixton pounds, gold, shells, diamonds, whatever.  There will always be non-cash channels.

CHoward's picture

This government can't get shit right.  It will take them a thousand years to issue a card to every man, woman and child so they can access/spend their 'money'.  We're a nation of 320 million people - how many are illegal, how do they get their cards?  Talk about a gigantic cluster fuck!! 



Borrow Owl's picture

" many are illegal, how do they get their cards?"

The same way that they get EBT, Sec 8. etc.

Uranium Mountain's picture

Prisons are generally cashless societies. All electronic through canteen purchases.  Controlled by the Totalitarian system.  If broke, Inmates then become forced to barter which can get them in trouble. Many  prisons  make it against the rules to barter. That is where we're heading. Prisons are society without the frosting.

. . . _ _ _ . . .'s picture

Good point. I like your angle on this... would make a good sci-fi book.

GRDguy's picture

"a war on crime, a war on drugs, a war on poverty, a war on terror" really means that .gov will make war on anyone who gets in their way when they commit crime, deliver drugs, drive people into poverty and terrorize populations.  It's just the old newspeak.

silverthorn's picture

Correction, the Federal Reserve devalued the dollar over 80% since 2007.

. . . _ _ _ . . .'s picture

"This is likely because the average Swede places an unreasonable amount of trust in government and financial institutions."

The problem with trusting governments is that the laws their populace allows them to pass carry over to the next government which might not be as trustworthy. They know this, and this is why Obama has gotten away with so much; he was initially trusted. Now that people see behind the curtain, many of his dictats are set in stone and it is always harder to undo a law than to make one.

Proceed with caution.

rsnoble's picture

If the US gov't wishes to create a terrorist group that makes ISIS look like babyshit and is millions strong..........go ahead and fucking try it fucking deuchbags.

snodgrass's picture

I recently had a software company go in and deduct payment for their lousy virus protection program from my account without my authorization. I got the money back but it shows you just how tempting it all is once they have your credit card number.


Aaron Russo talked about the plans of the bankers and their associates.

consider me gone's picture

And if PM transactions are legally defined as cash transactions?

Hongcha's picture

I am all over San Francisco and Oakland, hipster central; not a single storefront have I seen accepting Bitcoin.  I recall one taxi driver doing so, back when it was around $1,000.  No one advertising BUY GOLD HERE; just CASH 4 GOLD.  The future for this area is disturbing.

Uranium Mountain's picture

If people withdraw their money from the bank, it removes it from the system strengthening the dollar so long as they don't spend it. The banks that rely on cash deposits give loans at nine times what they have in the bank. If cash is removed, it will cause that Bank to have less money to loan. Either that, or they raise their multiple factor to make up the difference flooding the system with even more fiat currency. When they finally make cash illegal to have and force people to turn it in, that will flood the system with more money suddenly deposited causing weakening devaluation of the dollar.  Sick what our world has become in just my lifetime of 48 years.

GRDguy's picture

I hear you and double that for my 68 years.  It's disgusting.

dark pools of soros's picture

it's Scamerica, everyone just cooks their books and just pays fines if busted...  just call it a fee for doing 'business'



Uranium Mountain's picture

I bet in Greece, one can buy a woman for a can of soup these days. Wasn't much different in World War 2 after Europe was decimated. A candybar.  Soon a piece of silver for a woman. That is where we're heading.  Seriously, how much as prostitution rose in Greece?

dark pools of soros's picture

the prostitutes are the ones that can afford to shave their legs



rejected's picture

Just like everything else these morons today will go for it. For some reason using their iThingy is the coolest thing, like when we were kids and our parents got us cheap walky talkys. Then came the CB craze. Breaker 19. Now it's iThingy's. Just as stupid and useless but we never grew up and any new toys our new parents, government, gives us will be accepted regardless of the eventual harm it will do.

Just look at the faces of those tapping and sliding, those yelling into the phone so everyone knows how cool they are. Watch them walk in front of buses or cars in their iThingy trance, or diving into the passenger floorboard to fetch a lost iThingy. Actually saw one lost in a urinal. The dude picked it out of the piss and continued talking.

No,,, cashless is on the way.