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What a Cashless Society Means For Your Liberty

CBS News has an article up about Sweden becoming a cashless economy - an interesting development as Sweden was the first European country to introduce bank notes. While the transition to a digital, cashless way of life hasn't been made official there, the story indicates a trend that could easily be adopted throughout Europe and in the U.S. in a short amount of time. I've included some quick excerpts from the CBS article below, then I'll explain why this is a major threat to individual freedom and personal privacy.

From CBS:

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.
Oscar Swartz, the founder of Sweden's first Internet provider, Banhof, says a digital economy also raises privacy issues because of the electronic trail of transactions. He supports the idea of phasing out cash, but says other anonymous payment methods need to be introduced instead.

"One should be able to send money and donate money to different organizations without being traced every time," he says.

Mr. Swartz nails down succinctly the issue with electronic currency. That it is infinitely traceable.

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This isn't really a cashless society

How do you pay your phone bill each month?
In Swedish Krone.

However there is a gold backed currency.
Certificates issued by Perth Mint http://www.perthmint.com.au/investment_certificate.aspx
This is no good for everyday trnsactions, but might be ok for savings.

And there are moves afoot to develop a gold backed digital currency.
Similar to Bitcoin but an improvement to Bitcoin and gold backed.
Perth Mint are interested in the idea.
This would be a gold backed currency.
And it would be suitable for all electronic transactions, any debit card payments, payments to an ordinary bank account etc.
Transactions large and small.

But it would be away from the Global Banking system.
And it would not be a fractional reserve system.
The first of it's kind.

"In the end, more than they wanted freedom, they wanted security. They wanted a comfortable life, and they lost it all -- security, comfort, and freedom. When ... the freedom they wished for was freedom from responsibility, then Athens ceased to be free."

What a Cashless Society Means For Your Liberty:

The end of it.


First they eliminate cash, then they'll eliminate cards, then what's the next step? Tracking chips in every human, encrypted with our banking information?


Someone just commented on the blog post at Lions of Liberty and I wanted to share it here. Something I didn't mention that's an excellent point:

There is another problem with a cashless society. All of the "money" is forever in the hands of third parties -- you no longer can hold even fiat currency (bank notes) in your possession, to be hidden under your mattress if you wish. Instead, all your "money" is in a bank which will give that money to the government any time the government demands it. For whatever reason the bureacrats can dream up -- e.g., you didn't pay as much tax as the bureacrat says you owe, or you did something the bureacrat says you must be fined for, or you are claimed to be a dangerous terrorist or hindrance to society -- you name it, the bureacrat can find a way to say you owe it. In a cashless society, you will have that money easily taken, long before a judge rules on your case, or you could find your account closed, and no way to access your "money" at all. A nightmare for liberty indeed.

Gold, silver and cash

The monies of the people . Electronic currency is the currency of the elites. When we live in a fully digital world, we'll officially be slaves.

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Without a doubt.