Europe's Runaway Train Towards Full Digitization Of Money & Labor

Authored by Peter Koenig via The Saker blog,

The other day I was in a shopping mall looking for an ATM to get some cash. There was no ATM. A week ago, there was still a branch office of a local bank – no more, gone. A Starbucks will replace the space left empty by the bank. I asked around – there will be no more cash automats in this mall – and this pattern is repeated over and over throughout Switzerland and throughout western Europe. Cash machines gradually but ever so faster disappear, not only from shopping malls, also from street corners. Will Switzerland become the first country fully running on digital money?

This new cashless money model is progressively but brutally introduced to the Swiss and Europeans at large – as they are not told what’s really happening behind the scene. If anything, the populace is being told that paying will become much easier. You just swipe your card – and bingo. No more signatures, no more looking for cash machines – your bank account is directly charged for whatever small or large amount you are spending. And naturally and gradually a ‘small fee’ will be introduced by the banks. And you are powerless, as a cash alternative will have been wiped out.

The upwards limit of how much you may charge onto your bank account is mainly set by yourself, as long as it doesn’t exceed the banks tolerance. But the banks’ tolerance is generous. If you exceed your credit, the balance on your account quietly slides into the red and at the end of the month you pay a hefty interest; or interest on unpaid interest – and so on. And that even though interbank interest rates are at a historic low. The Swiss Central Bank’s interest to banks, for example, is even negative; one of the few central banks in the world with negative interest, others include Japan and Denmark.

When I talked recently to the manager of a Geneva bank, he said, it’s getting much worse. ‘We are already closing all bank tellers, and so are most of the other banks’. Which means staff layoffs – which of course makes it only selectively to the news. Bank employees and managers must pass an exam with the Swiss banking commission, for which they have study hundreds of extra hours within a few months to pass a test – usually planned for weekends, so as not to infringe on the banks’ business hours. You got to chances to pass. If you fail you are out, joining the ranks of the unemployed. The trend is similar throughout Europe. The manager didn’t reveal the topic and reason behind the ‘retraining’ – but it became obvious from the ensuing conversation that it had to do with the ‘cashless overtake’ of people by the banks. These are my words, but he, an insider, was as concerned as I, if not more.

Surveillance is everywhere. Now, not only our phone calls and e-mails are spied on, but our bank accounts are too. And what’s worse, with a cashless economy, our accounts are vulnerable to be invaded by the state, by thieves, by the police, by the tax authority, by any kind of authority – and, of course, by the very banks that have had your trust for all your life. Remember the ‘bail-ins’ first tested in early 2013 in Cyprus? – Bail-ins will become common practice for any bank that has abused its greed for profit and would go belly-up, if there wouldn’t be all those deposits from customers. Even shareholders are not safe. This has been quietly decided on some two years ago, both in the US and also by the non-elected white-collar mafia, the European Commission – EC.

The point is, ‘banks über alles’. And which country would be better suited to introduce ‘cashless living’ than Switzerland, the epicenter – along with Wall Street – of international banking. Bank’s will call the shots in the future, on your personal economy and that of the state. They are globalized, following the same principles of deregulation worldwide. They are in collusion with globalized corporations. They will decide whether you eat or become enslaved. They are one of the tree major weapons of the 0.1 % to beat the 99.9% into submission. The other two at the service of the master hegemon’s Full Spectrum Dominance drive, are the war- and security industry and the ever more brazen propaganda lie-machine. Banking deregulation has become another little-propagated rule of the World Trade Organization (WTO). Countries who want to join WTO, must deregulate their banking sector, prying it open for the globalized money-sharks, the Zion-controlled banking conglomerates.

Retrenchment of personnel in the banking employment market is increasing. The news only selectively reports on it, when there are large amounts of jobs being eliminated. Statistics lie everywhere, in the EU as well as in Washington. – Why scare people? They will be scared enough, when they are offered jobs at salaries on which they can barely survive. That’s happening already. It used to be a tactic applied for developing countries: Keep them enslaved by debt and low pay, so they don’t have time and energy to take to the streets to protest – they have to look for food and work, whatever menial jobs they can get, to feed their families. It’s now hitting Europe, the West in general. Some countries way more than Switzerland.

Cashless trials are going on elsewhere, especially in Nordic countries, where selected department stores and supermarkets do no longer take cash. Another monstrous trial has been carried out in India a year ago, in the last quarter of 2016, where from one day to another 80% of the most popular money notes were eliminated, and could only be exchanged for new notes by banks and through bank accounts. And this in an almost pure cash country, where half the population has no bank account, and where remote rural areas have no banks. People were lied to so that the sudden introduction had maximum effect.

It caused massive famine and thousands of people died, as they had suddenly no acceptable cash to buy food – all instigated by the USAID Project ‘Catalyst’, in connivance with the Indian rulers and central bank. It was a trial. It was a disaster. If it works in India with 1.3 billion people, two thirds of whom live in rural areas and most of them have no bank account, the scam could be applied in any developing country – see also India – Crime of the Century – Financial Genocide

What is going on in Switzerland is a trial with the high end of populations. How is the upper crust taking to such radical changes in our daily monetary routine? – So far not many protests have been noticed. There is a weak referendum being launched by a group of people who want the Swiss Central Bank be the only institution that can make money, like in the ‘olden days’. Though a very respectable idea, the referendum has no chance in today’s banking and debt-finance environment, where youth is being indoctrinated with the idea that swiping your card in front of an electronic eye is cool. Today, most money is made by private banks, like elsewhere in Europe and the US. Worldwide banking deregulation, initiated by the Clinton Administration in the 1990s – today a rule for any member of the World Trade Organization (WTO) – has made this all possible.

Digitalization and robotization is just beginning. Staffed check-out counters in supermarkets are dwindling; most of them are automatic – and that happened within the last year. – Where are the employees gone? – I asked an attendant who helped the customers through the self-checkout. ‘They joined the ranks of unemployed’, she said with a sad face, having lost several of her colleagues. ‘It will hit me too, as soon as they don’t need me anymore to show the customers on how to auto-pay.’


Digitalization also includes the cryptocurrencies, the blockchain moneys floating around – of which the most famous one is Bitcoin. It brings digitalization of money to an apex. The system is complex and seems to lend itself only to ‘experts’. Cryptocurrencies are fiat money, based on nothing, not even on gold. Cryptos are electronic, invisible and highly, but highly speculative, an invitation for gangsters and fraudsters. With extreme speculative values, it looks as if cryptocurrencies were designed for crooks and speculators.

Bitcoin was allegedly invented by Satoshi Nakamoto which could be a pseudonym of a man or a group of people, suspected to live in the US. “Nakamoto’s” identity is believed to be commonwealth origin, due to the vocabulary used in his writings. One of his close associates is purportedly a Swiss coder, who is also an active member of the cryptocurrency community. He is said to have graphed the time stamp of each of Nakamoto’s more than 500 bitcoin forum posts. Such ‘forum posts’ exist in the thousands, worldwide. They form an elaborate network based on algorithms.

Bitcoin was formally created in January 2009 with a fix amount of 21 million ‘coins’, of which more than half are already in circulation, and 1 million, or about 4.75% (of the total) can be traced to Nakamoto – which according to the current market value corresponds to close to US$15 billion. Today’s overall Bitcoin market cap is more than US$ 315 billion. The market is highly volatile. Drastic daily fluctuations are common, especially within the last 12 months. If one of the major Bitcoin holders, like Nakamoto, would capitalize his profit by selling a big portion of his holdings, the Bitcoin price would be in free fall, functioning pretty similar to the regular stock exchange.

On 24 August 2010, when Bitcoin was first traded, its value was US$ 0.06. On 24 December 2017, the coin was worth US$ 13,800, an increase of 230,000%. In the last twelve months, its value increased from about US$ 800 in December 2016 to a peak of close to US$ 20,000 in December 2017, an increase of nearly 2,500 %. However, in the last 7 days, the price has dropped by US$ 5,160, i.e. by more than 27%, and the trend seems to be downward; perhaps a sign of quick profit-taking? However, this shows how instable this cryptocurrency is, apparently much more so than trading corporate shares on the stock market.

The number of cryptocurrencies available over the internet as of 27 November 2017 is above 1300 and growing. A new cryptocurrency can be created at any time and by anyone. By market capitalization, Bitcoin is presently the largest blockchain network (database network, storing data in different publicly verifiable places), followed by Ethereum, Bitcoin Cash, Ripple and Litecoin.

Bitcoin may be the next bubble, bringing down a parallel economy which has already its fingers clawing into our regular western economy. Cryptocurrencies are officially forbidden in Russia and China, though stopping cryptocurrency dealings by individuals is hardly possible. They do not touch the traditional banking system. That’s why major banks hate them. They circumvent the banking suckers, prevent them from making ever higher profits from horrendous commissions, against which the people at large are powerless.

Here is Bitcoin’s positive value. It escapes bank and state controls. If countries’ economies were run on Bitcoins or another cryptocurrency, they would escape US sanctions which function only because western currencies are foster-children of the US-dollar, hence, subject to the dollar hegemony; meaning all international transactions have to pass through a US bank. A typical case is ‘banking blockades’, when Washington decides to stop all international transactions of a country until it submits to the wishes of the empire. It is blackmail; totally illegal, but unless there is a monetary alternative, the (western) world is subject to this system.

A typical case was Argentina, when she was forced by a New York judge in June 2014 to pay a New York based Vulture Fund US$1.6 billion, an illegal ruling according to a UN resolution. Argentina refuse to pay, so the judge, interfering in a sovereign nation, blocked more than US$ 500 million in Argentina’s debt payment to creditors, bringing Argentina to the brink of a second bankruptcy in 13 years. Eventually, neoliberal Macri negotiated a deal with the Vultures of a payment in excess of US$ 400 million.

This US blackmail would not have been possible had Argentina been able to make its foreign transactions in Bitcoins or another cryptocurrency. Venezuela is currently using a national cryptocurrency for some of its foreign transactions, thereby escaping the sanctions stranglehold of Washington. Had Greek and Cyprus citizens had a cryptocurrency alternative to the euro, they would not have been subject to the cash control imposed by the European Central Bank.

On the other hand, funding of terror organizations, like ISIS, cannot be disrupted, if the terror group deals in cryptocurrencies. – This shows, for good or for bad, Bitcoins, or cryptocurrencies are for now unique in resisiting censure and blackmail, or any kind of authoritarian outside interference in electronic money transactions.

Cashless Living

If Switzerland accepts the change to digital money, a country where until relatively recently most people went to pay their monthly bills in cash to the nearest post office – then we, in the western world, are on a fast track to total enslavement by the financial institutions. It goes, of course, hand-in-hand with the rest of systematic and ever faster advancing oppression and robotization of the 99.9% by the 0.1%.

We are currently at cross-roads, where we still can either decide to follow the discourse of a new electronic monetary era, with ever less to say about the product of our work, our money; or whether, We the People, will resist a banking / finance system that has full control over our financial resources, and which can literally starve us into submission or death, if we don’t behave. In order to resist we need an alternative monetary system or monetary network, away from the dollar-euro hegemony.

All the more important is the ascent of another economy, another payment and transfer scheme which already exists in the East, the Chinese International Paymen, totally System (CIPS), effectively a replacement of SWIFT, totally privately run and linked to the US-dollar and US banks. The world needs a multipolar economy, based on the real output of a country or society, as is the case in China and Russia, not one based on fiat money as is the current western economy.

Will Switzerland, the stronghold of world finance, along with New York, London and Hongkong, resist the temptation of increased profit, power and control, offered by digital money? – We, the People, have still the chance to decide either for continuing rotting in a fraud economy, based on wars and greed – for which digital money, exacerbated by cryptocurrencies, is a new tool for a new maximizing profit bonanza on the back of the common people; or do we opt for an honest future and for a life that leaves us free to take sovereign political and monetary decisions in a full cash society. For the latter we must wake up to see the propaganda fraud going on before our eyes, and to resist the robot and electronic money onslaught being unleashed on us.


Clock Crasher Tue, 12/26/2017 - 23:33 Permalink

I want two microchips.  A primary and a backup just in case the primary goes down for more than 10 minutes while it's getting updates.  One in the forehead and one in the taint.  

Alt-Right-Girl TBT or not TBT Wed, 12/27/2017 - 00:56 Permalink

Might be that wealthier countries ditch some ATMs (banks are cutting costs, etc) but go around the Mediterranean and most shops won't accept cards for less than 5E and most won't accept nonetheless. Even though banks are downsizing and dissapearing all together from lots of neighborhoods, ATMs and all, people love their cash. And NO ONE uses stupid phone payments apps. They use their phones for chatting and sexting like God intended.WWE Diva Paige New Leaked Selfies Gaping her Ass and Playing with Dildo… 

In reply to by TBT or not TBT

random999 Alt-Right-Girl Wed, 12/27/2017 - 01:38 Permalink

I wish you were right. How things look like in the mediterreanean I dont know. But in china phonepayments are extremely popular for all sorts of payments. In sweden they are very popular for person to person payments while they swipe their cards when they go to a shop. I met some idiots who proudly proclaimed how they dont use cash at all anymore and i had to convice them to take my cash when I bought something 2nd hand from them as i didnt have any phonepaymentservice.And not only is totalitarianism the only threat. For a cashless society is just a blackout away from disaster.

In reply to by Alt-Right-Girl

Hugh_Jorgan new game Wed, 12/27/2017 - 10:31 Permalink

If you think TPTB will just sit there, helpless, against the crypto safety valve, you're fooling yourself. It could be that this conundrum will the thing that will eventually sends the whole mess off the rails, but the Globalist Banking Cabal will never accept a lack of the tacit control over all things monetary like they have now. I suspect it could be their gremlins with wrenches that are already out there poking and prodding BTC.

In reply to by new game

OverTheHedge khnum Wed, 12/27/2017 - 01:32 Permalink

Poor old Greece is already being pushed, unenthusiastically, down the cashless path, and it is not for the benefit of the people.Big businesses do not pay VAT, or at least not on time (they have connections, often are multinationals), but it was sold to the population that if you pay by card, the government automatically gets its take, as the payment is split as you pay it. I have no idea if this isn't the or not, but it is a USP for the propaganda.There is a lottery - every time you use your card to pay, instead of cash, you have the chance to win €1,000. How's that for an incentive? (According to my accountant, no one has actually been seen to have won this lottery, at least in my area).That's the bonus points, now for the Big Brother downsides:Anyone with an interest is able to log in and see any and all bank transactions, from all of my bank accounts, pretty much in real time, from what I can make out. This includes any government department, my accountant, and I have no idea who else. Given the state of corruption in Greece, I would assume that this data has already been sold, several times over.Greece currently still has capital controls, not as onerous as before, but they are still there. Cash withdrawals are limited, cash transactions are frowned upon, but don't forget that all Greek banks are basically bankrupt, certainly undercapitalised, and tottering. The good news is that the people are fighting back. Everyone wants cash, not plastic, and if you pay cash, you don't need to pay VAT. Marvelous. We shall see who wins out in the end. My money is on the people, as eventually there won't be any money in the system any more, so who will fundnthe banks? Once they have stolen everything, the system will stop.

In reply to by khnum

Alt-Right-Girl khnum Wed, 12/27/2017 - 02:27 Permalink

While in Greece in summer 2015 just around the "Big Vote" the plastic was useless.Cash or Get Lost.I don't think much has change since. Maybe more barter but plastic definitelly lost ground. PS Greece should jew up and start nationalizing German (corporate) properties and at the same time suing for WWII reparations.One way or the other they should get some $. But seems they lost their balls a long time ago.

In reply to by khnum

Diatom OverTheHedge Wed, 12/27/2017 - 15:35 Permalink

"We are currently at cross-roads, where we still can either decide to follow the discourse of a new electronic monetary era, with ever less to say about the product of our work, our money; or whether, We the People, will resist a banking / finance system that has full control over our financial resources, and which can literally starve us into submission or death, if we don’t behave."Here it is...This is something that is worth fighting and dying for.Most likely I will go down... But i can assure you that many will go down with me... And most important the ones that matter: The fucking bankers...

In reply to by OverTheHedge

khnum Tue, 12/26/2017 - 23:39 Permalink

DARPA was investigating cryptocurrencies in the 90's,but of course currently its all the work of people like mysterious Japanese eccentric genius's etc.Congratulations Mr Non Compliant your account is terminated,your money confiscated and you are now a non entity.

cherry picker Tue, 12/26/2017 - 23:49 Permalink

All that is needed is cutting the communications fibre optics cables and screwing it up bad enough at enough locations it takes a month to get it back up.People won't get hurt and cash will be required again.Simple really

Intelligence_I… Tue, 12/26/2017 - 23:57 Permalink

they let refugees pour into their country, it's nice because there will be a major push back in the UK way before the U.S. No one in their right mind will put up with unlimited refugee slime pouring into their country for too long.  It will make it ok for pushback for not only muzzies but nigs too. muzzies and niggs don't belong in civlized society.  Everybody with a brain knows it it's just a matter of time.  

cherry picker Wed, 12/27/2017 - 00:13 Permalink

All this BS about the UN and Jeruselem and Sanctions and wars is a cover up by big brother, the banks, corporations and their lap dogs, government.What is happening is going on around the world.MAGA, yeah bullshit.  MASA, Make America Slaves Again is more like it.Boycott all this shit.  Money is the weapon and money talks.  Break these companies and banks who will enslave you.

Hongcha Wed, 12/27/2017 - 00:16 Permalink

China.  China is much farther along on this nightmare train than most realize.  The PRC will surprise everyone and be the first to digitize.  The Millenials over there not only do not have a concept of liberty, they will rat out stragglers amongst their number without hesitation.  They are quite brainwashed, like you cannot imagine. Long BACHY, TCEHY and CHL for that ride.  God knows I don't want to live in there, but I will buy the stocks and they can have it. 

Goldennutz Wed, 12/27/2017 - 00:42 Permalink

C'mon now. Doesn't Barista sound better than bank teller? It's a much more exciting title to have with your useless 80K in hock masters degree.

Joe A Wed, 12/27/2017 - 00:51 Permalink

Pay cash for things as much as you can. Your bank is taking down the ATMs? Switch to a bank that still has them and mention the reason why you change banks to both banks. Consumers still have power. If they flock to a bank that still has ATMs then the others will follow suit eventually.

KFBR392 Wed, 12/27/2017 - 01:07 Permalink

geez can anyone write with proper grammar anymore? totally betrays the idea the writer has really knowledge when they cant use proper grammar. not that this article was remotely accurate on nature of what else is wrong??

OverTheHedge KFBR392 Wed, 12/27/2017 - 02:26 Permalink

I think he may speak English as a second language, what with being Swiss and everything. How is your Romanche? Could you write a comprehensible narticle in a foreign language? I think he did a good job. Just read it again, only this time with a Dr Freud Germanic  accent, and it will all make sense. The bitcoin part, perhaps not so much.

In reply to by KFBR392

Bluntly Put Wed, 12/27/2017 - 02:03 Permalink

Do you think they will stop with digitizing cash/money? No, they will want to digitize everything your house, car, personal possessions and then finally your DNA and put that in their universal 'database'. Total tyranny. 

Momentarily Lucid Wed, 12/27/2017 - 02:14 Permalink

'They' are us.We get the future we desire and allow. Do you use a card for payment, direct debit for your bills, sending emails instead of writing letters, communicating on the Internet instead of meeting in person? Yes of course, because it is easier, faster cheaper.We understand that installing an app on our phone erodes our privacy, that our Interent searches and social media posts are analyzed and sold, but we do it anyway.No one is imposing what we do not want on us. What is popular becomes the norm.If the majority didn't desire this then we wouldn't accept it.

rwe2late Momentarily Lucid Wed, 12/27/2017 - 12:56 Permalink

 You over-simplifyand ignore the role of DECEIT,sales "strategy", loss leaders, balloon mortgages, introductory offers, "cash back" credit cards, etc.When government leaders opt for wars and bank bailouts and bailins, do you believe it isbecause the driver is what "the people" want? (Who are those "people"?)When the public votes for politicians who say one thing and do another(e.g. Tsipras, Obama, Trump) is it because what "the people" want?On what "facts" (delivered by the MSM) do the majority determine what they "want"? Also you ignore the role of FORCE.Organizations originally created for an arguably good reason may be turned insteadto become instruments of control by the powers that-should-not-be.(e.g. police established to prevent anddeter assaults, thefts, murders but then are militarized and used to spy, harass,jail whistle-blowers, commit false flag operations, frame political opponents,enforce victimless crime laws, torture, assassinate, break up  legitimate protests, etc.)  

In reply to by Momentarily Lucid

DeepFriedLizards Wed, 12/27/2017 - 02:23 Permalink

I can see where a cashless takeover would happen to Alaska and Hawaii first.  Both are isolated and depend on shipping from the lower 48.Look at Puerto Rico, they're a US territory.  I wonder how they feel about that now.

gn28 Wed, 12/27/2017 - 03:09 Permalink

This is absolutely coming.All the companies that have a cantine and where my friends work no longer accept cash. Most of them don't even accept credit cards, but rather expect you to load some currency on their internal cards.Luckly Swiss supermarkets still accept cash so you can go buy to your heart's content and ATMs are availale everywhere, at least in the German part of the country.The best option for cash withdrawal remains the PostBank (PostFinance), which basically has ATMs at every post office and all over the city. Even so, they have just removed all account guarantees so in case there's a financial issue you will lose your money. This makes it all that more important to wthdraw your cash each month.What they author did not say is that cryptos are just another way of indoctrination. All of them track transactions. I worked with banks and insurance companies to analyse possible use-cases for blockchain and all of them love the fact that "all transactions are documented and tracked", which says it all.People that believe in alt trading, should just keep a common ledger with the people that they trade with marked with a generic unit of account (UbC). You can just wipe out equal amounts owed at the end of the year and only pay what is left. That way zero corporate documentation is needed and you do not need to pay taxes on the amounts you settled. The moment you issue any invoice you will have to paytaxes and have an audit trail of the rest.At this rate of adoption for cryptos and the rate of decay of cash and the dollar.. I think that in less than 5 years 99% of the world will be all digital and zero cash.WAKE UP, YOU'LL SOON BE FULLY A SLAVE !

el-greco Wed, 12/27/2017 - 03:17 Permalink

Are there two Switzerlands on the planet? Switzerland is still stacked to the gills with cash machines and the post office takes cash for all does not take third-party credit cards unless it's the type they issue themselves.

Sudden Debt Wed, 12/27/2017 - 03:53 Permalink

This article is actually pretty much bullshit.In Brussels, a law was put in place just a couple of weeks ago that every merchant and every machine must accept coins and bills and not only digital transactions.Most people don't wear that much cash anymore that's right but full digitalisation is forbidden now in Europe.

Ghordius Sudden Debt Wed, 12/27/2017 - 04:04 Permalink

Sudden Debt is correct in this, with one caveatspecifically, it's the 19 countries in the eurozone (that's those that use the EUR as currency) that are pushing for the continued use of notes and coins, i.e. cashagainst the interests of the digital cash pushers, from credit cards to all the otherswhile the non-euro using countries are pushing for digitalization, starting/headed with Denmark that made the same law... in reverse, allowing retailers to put a sign that they don't accept cash anymore

In reply to by Sudden Debt

kellys_eye Ghordius Wed, 12/27/2017 - 05:07 Permalink

Given that the Euro (and especially its large denomination notes) is the go-to currency for dubious transactions it comes as no surprise that we hear of its continued support.  I mean, what would the EU-crats do if they couldn't shovel their cut back home, unnoticed?What was the 'unaccounted for' total of Euro corruption in 2016?

In reply to by Ghordius