Precious Metals And The Coming Cashless Society

– by Zoltan Erdey

Over the past few years, the concept of a cashless society has taken root in the minds of numerous governments around the world. An outright ban on cash will become a future reality, as governments set up a system by which every single financial transaction is trackable. For example, in November 2016, India banned 500 and 1000-rupee notes without any notice. These notes represent as much as 85% of the cash transactions in the country. Yet, without notice, money become worthless overnight – simply by government declaration.

There are more examples
“Australia, Singapore, Venezuela, the U.S., and the European Central Bank have all eliminated (or have proposed to eliminate) high denomination notes. Other countries like France, Sweden, and Greece have targeted adding restrictions on the size of cash transactions, reducing the number of ATMs in the countryside, or limiting the amount of cash that can be held outside of the banking system. Finally, some countries have taken things a full step further – South Korea aims to eliminate paper currency in its entirety by 2020” –  

The crusade against cash is clear for all to see
In a cashless society, the government has the ability to simply cut citizens off from the economic foundation and prevent you from purchasing even bread should it decide to do so. The consequences on personal economics and social liberties are countless.
While South Africa is not at the forefront of the war on cash, it is a matter of time before we follow suite (either by choice or force). I suspect that silver and gold (real money, historically speaking), which represent the sole alternatives to digital currency, will become enormously important and valuable.

Proverbs 27:12 reads as follows: “The prudent see danger and take refuge, but the simple keep going and pay the penalty.”

JOY! Magazine (February 2018)

Return to Home