These Countries Have Nearly "Eliminated Cash From Circulation"

Tyler Durden's picture

The cashless society is catching up to all of us. As SHTFPlan.com's Mac Slavo notes,

Most of Europe has shifted that way, and now India is forcing the issue. In the United States, people are being acclimated to it, and may soon find that no other option is practical in the highly-digitized online world.

 

Once that takes hold, the banksters, bureaucrats and hackers will have total information on all your transactions, purchasing behavior, profiles about consumers, political and social background history and even predictive behavior, allowing them to control the population with ease.

 

If/when a major crisis hits, nothing will work if the grid goes down; nothing will take place that isn’t strictly authorized – apart from a barter and precious metals exchange system that will be marginalized to the pre-digital ghetto.

In fact, as The Daily Coin's Rory Hall explains 1 out of 3 people in the world never uses cash...

We recently learned how serious these criminals are about stealing the sovereignty of every person on planet earth. Actually, most people are willingly handing over their sovereignty to the banks/government and have no idea what they are actually doing.

When India banned (made illegal) the 500 and 1000 rupee banknote this move effected every 1 out of 7 people on planet earth. That means that every 7th person, anywhere and everywhere, you come in contact with may have been effected by this cash ban.

Our individual sovereignty is tied directly to our ability to move freely about. When every step we make is tracked by the bank/government our sovereignty is gone forever. Freely trading commerce is one of the cornerstones of human sovereignty. Without the ability to conduct business with whom we wish, when we wish we are nothing more than cattle to the overlords of the land.

An expat living in Thailand sent me an email last week, at the height of India blowing apart because the idiotic decision by Prime Minister Modi to eliminate the two most used bank notes in India. The email was to inform me that Thailand would be implementing a new policy in the early part of 2017 to completely eliminate coins from circulation. South Korea has already taken measures to eliminate coins from circulation.

Here is a google translation from the Korean website wikitree.co.kr (once you arrive you will need to translate from Korean language)

From next year, you can get the change of cash that you bought and paid at a convenience store on your transportation card.

 

In the mid to long term, not only transportation cards but also remittance to credit cards and accounts will be promoted, and the industry will be expanded to retail sector such as marts and pharmacies.

 

The Bank of Korea announced on the 21st [November] that it will provide a service to charge prepaid transportation cards at convenient stores from the first half of next year (2017) as the first stage of the demonstration project to realize “a society without coins”.

What’s happening in Thailand? Well, the government doesn’t even bother with trying to cover up the “scheme” to move people onto the tax farm – currency enslavement awaits for all that enter the great Bangkok Baht giveaway!!!

According to Bangkok.Coconuts.co (published in July 2016):

“Want to win a million baht? Go for e-payment,” says Thailand’s junta, offering a lucky draw as an incentive to use the new online payment scheme “PromptPay.” The government wants to encourage citizens to use the service for business, in an effort to bring some of the massive informal Thai economy onto the books and boost tax revenues.

 

As Southeast Asian economies struggle and tax income misses budget targets, Thailand’s finance minister is hopeful that a nationwide e-payment scheme can add tax revenue of THB100 billion a year to the coffers.

 

Finance Minister Apisak Tantivorawong has estimated the move will save banks and businesses a combined THB75 billion a year, though other policymakers expect it could take some time for businesses to change their habits. Cash and checks now make up 80 percent of transactions.

 

A coup in May 2014 ended months of political unrest, but the generals have struggled to revive Southeast Asia’s second-largest economy as exports and consumption remain weak.

What about the most populace country on the planet: China? Well, they are, currently, in fourth place in use of digitized currency behind the U.S., Europe and Brazil. While none of these countries have eliminated cash from circulation, the banks/government make is sound “trendy”, convenient and oh so cool to never use cash. Why force a policy change when you can convince the people to hand over their freewill?

Although China still has some way to go before it catches up with countries such as the US and Sweden, the speed at which China has made the shift from cash towards cashless has surprised many. Non-cash payments have been growing by around 40 per cent a year and last year China moved into 4th place in the world for non-cash payments after the US, Europe and Brazil.
 
There are many reasons for China’s rapid transition away from cash. One is urbanisation, as non-cash payments are becoming both easy and popular. This is especially the case in top-tier cities such as Shanghai, Shenzhen and Beijing where it is both trendy and convenient to pay without using cash.
 
There is a huge variety of choices when it comes to making cashless payments and China UnionPay has definitely helped to encourage this, particularly in the case of debit cards, which outnumber credit cards in China by 10 to one. China has more than 4 billion cards on issue – almost enough for each adult to have about three each.
 
Mobile payments have also taken off in China – it has the largest proportion of people in the world using their mobile phones to make payments, online and physically. Source

The purpose of going cashless is not for our “convenience”, it is specifically for the purpose of “saving the banks” and tax collections. Governments and banks could care-less about what is convenient for us. They are only concerned with how much of our wealth they can extract from every person who has any currency.

The population of South Korea is 50.22 million people or said another way about 1/6th the size of the United States. India, on the other hand, is populated by 1.33 BILLION people while there are 7.4 BILLION populating the world. With Thailand making moves to remove cash/coins from the people we need to add their population to the mix as well. With more than 68.22 Million people this brings the number of people that are being forced by their government to use digital currency to a whopping 1.45 BILLION people. If you add 40% of China’s population of 1.35 BILLION that equates to approximately 540 million people the number of people currently living within a cashless society breaches 2 Billion people or said another way 1 out of every 3.5 people we come into contact with everyday. Every 4th person you greet has nothing to do with cash. This does not take in account the top 3 nations using digitized currency for their transactions. If the U.S., Europe and Brazil were calculated we would be well below 1 out of 3 people never using cash for any transaction.

Some people that are reading this are telling themselves “so what?” those are distant far off lands that have nothing to do with the U.S. and this will never happen here. Well, not so fast.

Larry Summers, who is like an embedded tick at the Treasury Department of the United States, has called for the elimination of the $100 bill. With the elimination of the largest denominated bank note from circulation this would effectively kill the use of cash. Why? Because it would eliminate most of the total cash value from circulation in one-fell-swoop.

With $1.2 trillion in cash in circulation, as of July 2013 (now three year old information), not just in the United States but around the world, removing the $100 bill would deal a serious blow to the cash balance in circulation. Maybe not the amount of pieces of paper, but the cash value removed would be huge. Imagine going to a casino and hitting a blackjack table for $2,000 and the cashier hands you bundles of $50 bills (40) or worse, bundles of $20 bills (100)! $2,000 payout at a casino is not that a big deal. Having to handle the sheer volume of bank notes could potentially be a problem for the person receiving the windfall of paper.

If you have any misguided notion that a cashless society is not coming, just keep telling yourself that every time you use a debit card, credit card or your phone for your next purchase. With the elimination of cash we effectively hand over our individual human sovereignty to the banks and the government.

*  *  *

Finally we leave you with Harvard's latest study on which nations would 'benefit' the most from going cashless...

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peddling-fiction's picture

I knew that Finland and Sweden were up there on that list.

They lack potential because they lack population.

Pizzagate

blue51's picture

I am liking your pizzagate sign-off.  Everyone should add it to the end of their comment.

Pizzagate

peddling-fiction's picture

It was Chunga's idea.

Kinda takes the pleasure out of asking for a Pepperoni Pizza.

Pizzagate, pizzagate

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) peddling-fiction Dec 4, 2016 9:34 PM

Let's put purely digital/statist-fiat "DOLLAR" up against purely digital/anarcho-P2P "BITCOIN" and see who wins?

There can be only one...

Stuck on Zero's picture

This is going to be so much fun when a bot moves in and destroys the payment system.

Belrev's picture

How will hundreds of millions buy drugs then from government drug cartels? They have not thought about that.

peddling-fiction's picture

Legalize and then euthanize. Its for the children you know.

Paul Kersey's picture

Many states have legalized pot in one way or another, but, because banks are under the auspices of the FDIC, the banks will not accept cash from state-legal pot sellers. That is because, on a national level, cannabis is still a Schedule One drug under the Controlled Substances Act.

So, if the USG kills off cash, that will effectively kill the cannabis business, even in those states that have legalized that business. Soon to be Attorney General Sessions said, at a legislative hearing in April, that “good people don't smoke marijuana,” a drug that he said is “dangerous.”Imagine all the sales and income taxes those states, that have legalized the pot trade, will miss out on, if Sessions puts a full-court press on the cannabis trade and the bank-owned US Treasury puts a full-court press on eliminating cash.

wildbad's picture

No cash, no freedom at all.

#Pizzagate
#Pizzagate
#Pizzagate
#Pizzagate

JohninMK's picture

A bot may not be the biggest risk. Excluding Government action, here are some others, there will be more:

- physical security of the telecoms infrastructure, very vulnerable to arson attack in particular at all kinds of levels in the networks,

- back office failure in banks, shutting down their customers, happens about once a year, that we know about, in the UK,

- back office failure in retail, with no cash it causes chaos in shops/gas stations etc. Frequency unknown as they can currently move to cash.

In many ways cash is starting to act as a back-up system for the digital economy. Take it away and the whole financial system is at risk. We talk about fiat as only being worth something if there is confidence in it. Surely the same will apply to digital. Too many failures in either will be a problem.

Anopheles's picture

Their populations are also concentrated. Not many live off the grid. 

Ignatius's picture

What's at stake is personal sovereignty... full stop.

The history of 'wards of the state' used to be reserved for criminals and imbeciles, if that is any indication of what is in store.

I pay cash for nearly everything and recommend that everyone do likewise as a statement of freedom and sovereignty.

Our propaganda should be that paying cash is "cool."

JoeEagle's picture

how about "Paying with real money"  ?

peddling-fiction's picture

They are also the most brainwashed western zombies.

wisehiney's picture

Yeah.

And Johnny CASH was banned from the Grand Ol Opry.

Until they begged him to come back.

nmewn's picture

If you can't hold it you don't own it.

red1chief's picture

Yes, still more reason to own gold. May eventually be used in transactions after cash is banned.

nmewn's picture

I own it for currency collapses, as historically they have this annoyingly bad tendency of doing just that...lol.

Because the creators of these currencies have that Smart Power thingy goin on ;-)

boattrash's picture

Practice marksmanship as well.

...and while you're at it, watch Hollywood's best clip, from the Late, Great Levon Helm...

https://www.youtube.com/watch?v=fqZuL8iZchU

I miss Levon...an Arkansas Treasure!

nmewn's picture

As well as know all the elements of a chosen "craft." One of the best lines from that movie...IMPO...

"I'm a sitting US senator!"

"Exactly."

boattrash's picture

+100   That movie had several great lines.  But Hollywood aside, if cash is banned it's time to go Full 2A, for the intended purpose.

wildbad's picture

Take a load off Annie.

#pizzagate

boattrash's picture

Aces, Great link, the more I see him, the more I miss him!

ACES FULL's picture

Thanks. Levon was the man.

Edit: Levon AFTER his bout with throat cancer. All time classic. Its difficult to put into words the effects this performance has on me. That fiddle is haunting.

https://youtu.be/oJMMUZOq3OU

boattrash's picture

Levon is a frequent "rabbit hole" for me for two reasons.

1). Love All of his work...

2). The FBI ain't in my yard the morning after his rabbit hole...

Win Win!

Edit; I got to listen to his daughter reflecting back, on getting to record with him, post cancer...He was a class act, and the apple don't fall far from the tree.

Uwantsun's picture

better still... Gold for wealth perservation, silver for transactions.

nmewn's picture

It relies on nothing, no internet, no password, no accounts or fees or devices. 

peddling-fiction's picture

It only relies on perimeter safety.

1777's picture

After they force a cashless system no one will ever again be able to handle their wealth, it will be in Oz! Only gold and silver will remind us of our former freedoms...

FX223's picture

I stack and stack and stack...but I also built a copper still that runs at 180 proof all day long on open flame so I can use propane or wood or anything that burns.

I figure if they take cash from us then I can distill my own money.

Anopheles's picture

In the US removing cash would become a political issue.  If removed or threatened to be removed, the next presidential election would be won by the candidate who promises to not remove cash. 

There’s SO many places in the country without cell service,  or an internet connection.  What do they do?Write out slips of paper?

How about Alaska?

red1chief's picture

They won't care that it will be a political issue, they will do it anyway.

Anopheles's picture

You don't seem to understand what a political issue is, or the power behind it.

I've seen an election won/lost over photo radar.  The promise was to remove it.  And they won specifically because of that one issue. 

 

Kfilly's picture

It won't be a campaign issue. The powers that be will just do it shortly after an election. How many stupid Americans pay any attention to what their government does?

Pizzagate

The Ram's picture

It is actually a huge latent issue in the US because many hispanics primary use cash.  Here in FL, if you want to pay for some sort of yard service for your home, you will need cash.  If the government wants to go cashless in the US, they better be prepared for a huge hispanic backlash.  Yes, it would dissuade immigration to some extent, but the general price that we will pay in freedom is not worth it.  Of course, the agenda here is not to discourage the immigrants.  It's to steal your money and control every movement in your life.

red1chief's picture

Not much an individual can do, the golden era soon will be gone.

buzzsaw99's picture

cash is filthy.

peddling-fiction's picture

Millionaire's are filthy rich.

Lotsa pizza parties you know...

Pizzagate

Anopheles's picture

You have no clue what filthy cash looks like.

  I saw local bills in west Africa that were so dirty you could couldn't read the printing on them.  And not just some bills, ALL of them. 

buzzsaw99's picture

half the bills in circulation have been up some crack ho's snizz

peddling-fiction's picture

and some city cracker's nose.

CrowTRobot's picture

SO are keyboards and smart phones...what's your point?

buzzsaw99's picture

do i really need to spell it out? the cooties on my keyboard are my own.

JustPrintMoreDuh's picture

I hear the central bankers have this great new all digital system in the works ... involves something with getting digitally chipped/imprinted in the hand/forehead.